UK private equity firm expands to Dubai to invest in professional services companies
Economy
Hamilton Bradshaw is backed by James Caan of BBC Dragons' Den fame and seeks to prepare Mena business owners for exits
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Zawya
3 hours ago
- Zawya
Talabat rolls out rest stations across Kuwait to provide riders with comfortable work environment
Kuwait: As part of its annual summer campaign for riders, talabat, the leading on-demand online ordering and delivery platform in the MENA region, is bringing back its rest stop initiative, with four strategically located, air-conditioned buses across Kuwait. This initiative aligns with the company's corporate social responsibility (CSR) strategy and commitment to providing riders with a safe working environment where their health and wellbeing remains the top priority, especially during summertime. Building on the initiative's success for four consecutive years, talabat continues to extend its welcome this year to all riders across Kuwait. Including those from outside its network, to rest and replenish at any of its bus stop rest areas. These stations are well-equipped with comfortable seating, water, and first-aid essentials, reinforcing talabat's role in promoting inclusivity and accessibility for all. Commenting on the revival of the initiative, Bader Al-Ghanim, Vice President and Managing Director of talabat Kuwait, said: 'Our role in the communities we serve extends beyond delivery. We are invested in the wellbeing of every individual who contributes to keeping our ecosystem running, starting with the riders. These rest stations, launched as part of our summer campaign for the fourth year in a row, reflect our continued efforts to ensure safe and comfortable working conditions for riders all year long.' He added: 'As part of our day to day operation, which is powered by a wide network of riders, logistics partners, and support teams, we remain deeply aware of the unique challenges they face on the ground every day. This understanding drives us to provide meaningful support that responds to the nature of their work, with a strong focus on health, wellbeing and improving the overall work environment.' Although talabat riders are hired through logistics partners, Al-Ghanim confirmed that the talabat remains responsible for ensuring they receive insurance coverage, summer kits, and regular access to road safety workshops and health screenings. He emphasized that riders are core contributors to the reliable, high-quality service that talabat delivers to its customers, and as such, remain a top priority within the company's wellbeing efforts. It's worth noting that the fully equipped rest station initiative rolled out across Kuwait is just one of several efforts talabat has launched during the summer to support rider wellbeing and promote safer, more comfortable working conditions on the road. Through initiatives like these, talabat continues to lead by example, demonstrating how companies can adopt a people-first approach rooted in long-term commitment to those at the heart of the delivery ecosystem.
Arabian Business
3 hours ago
- Arabian Business
Gulf Craft Group becomes first MENA shipyard to accept crypto payment
The Umm Al Quwain-based Gulf Craft Group, a prominent global entity in the yacht and boat manufacturing industry, has become the first MENA shipyard to accept regulated crypto payments for yacht and leisure craft purchases, service and refit works. Developed in collaboration with Bahrain-licensed fintech provider ARP Pay, the service enables the conversion of stablecoins, including USDT and USDC, into AED or USD. A recent pilot allowed a portion of a yacht's purchase price to be settled in cryptocurrency, reducing transaction costs and enhancing client satisfaction among international buyers. Gulf Craft accepts crypto payments Mohammed Hussein Alshaali, Chairman, Gulf Craft, said the move reinforces both the shipyard's appetite for innovation and the UAE's growing stature as a global hub for digital assets. 'By integrating ARP Pay, Gulf Craft not only meets evolving client preferences but also strengthens the UAE's reputation for forward-looking manufacturing and financial innovation,' Alshaali said. 'The UAE was built on maritime trade and early adoption of new ideas. Embracing regulated digital payments is a natural next step.' Erwin Bamps, Group CEO, Gulf Craft, added: 'Adding a crypto option future-proofs our customer experience. We stay ahead of the curve by adopting technologies that shape tomorrow's commerce and by tapping into the growing segment of crypto holders who prefer paying with digital assets. 'Whether a client is taking delivery of a Majesty or Nomad yacht or purchasing any boat or power catamaran across our Oryx or SilverCAT ranges, they can now transact through a channel that is fast, transparent and fully compliant.' The launch aligns with UAE's ambition to become the world's most crypto-friendly country, supported by VARA regulations, free-zone exchanges and a 24/7 fintech talent pool. Founded in 1982, Gulf Craft operates a state-of-the-art manufacturing and service facilities, including a 462,000 sq. ft shipyard in Umm Al Quwain and an additional facility in Ajman. Since 2002, Gulf Craft Maldives has also operated a 100,000 sq. ft manufacturing and servicing facility in the country. To date, the company has built over 10,000 boats.
The National
4 hours ago
- The National
More than 51,000 homes sold in Dubai in record second quarter
More than 51,000 homes were sold in Dubai in the second quarter of this year, marking a quarterly record amid strong demand from buyers, a report has shown. The figures are up 22.8 per cent year-on-year, property consultancy Knight Frank said in its report on Wednesday. In the first half of the year, total home sales reached more than 94,000, putting the market firmly "on track to exceed" 169,000 transactions recorded in 2024, it added. The total value of residential sales in the January to June period also surged to Dh268 billion ($73 billion), a 41 per cent increase compared to the same period last year. The market is poised to surpass the Dh367 billion in home sales reached last year, the consultancy said. Residential prices grew by an average of 13.7 per cent annually in second quarter, with villa prices rising by 16 per cent year-on-year. 'The sustained growth in prices, now approaching five consecutive years since the current cycle began in November 2020, is a clear sign of a more stable and predictable market environment,' said Faisal Durrani, partner and head of research, Mena, at Knight Frank. 'Knight Frank's forecasts for 2025 remain unchanged, with 8 per cent growth expected in the mainstream market and 5 per cent in the prime segment.' Dubai's property market has been booming in recent years, having benefited from government initiatives such as residency permits for retired and remote workers, expansion of the 10-year golden visa programme and overall growth in the UAE's economy on diversification efforts. This month, a new scheme was also launched to help Emiratis and UAE residents who do not own any freehold residential property in the emirate get on the property ladder. In the first half of 2025, the volume and value of all real estate transactions in Dubai rose sharply amid the entry of more than 59,000 new investors into the booming market, the Dubai Media Office said on Sunday, quoting Dubai Land Department (DLD) data. The number of transactions reached 125,538, up nearly 26 per cent from 99,947 during the first six months of last year, it said. The value of these transactions rose about 25 per cent to about Dh431 billion, 'highlighting the strong growth momentum in the market', the report said. Luxury driving growth The luxury segment recorded strong growth in the second quarter, with prime residential values across 10 key communities rising by 16 per cent over the past 12 months, according to Knight Frank. The average prime transacted price now stands at Dh3,850 per square foot. Villas continued to outperform the broader market in the second quarter, with values climbing to Dh2,172 per square foot, marking a 4 per cent quarterly increase. Prime residential areas such as Palm Jumeirah, Emirates Hills, Jumeirah Bay Island, and Dubai Hills Estate remained the most sought-after locations, particularly among international high-net-worth individuals, it said. Sales of homes priced above $10 million reached Dh9.5 billion in second quarter of 2025, 'the highest quarterly figure on record", according to the consultancy. 'The market is increasingly being shaped by genuine buyers rather than speculators, with resale activity within 12 months of purchase now at just 4–5 per cent, compared to 25 per cent in 2008,' said Will McKintosh, regional partner and head of residential, Mena, at Knight Frank. 'This shift toward end-user activity is a positive indicator of the market's growing maturity and long-term sustainability.' Knight Frank's report also highlighted the emergence of "accidental millionaires" – homeowners whose properties have appreciated beyond $1 million due to market trends. As of the second quarter, there are 110,000 such homes in Dubai, with 37,000 owned by individuals who originally purchased below the million-dollar threshold.
