OMNIYAT GROUP ANNOUNCES FORMATION OF STRATEGIC ADVISORY BOARD TO SUPPORT NEXT PHASE OF GROWTH - Middle East Business News and Information
Formation of the Board follows the Group's first debt issuance by flagship brand OMNIYAT and underscores its ambition to scale, diversify and further institutionalize the business.
Dubai, UAE – May 2025 – OMNIYAT Group, which includes the leading ultra-luxury developer OMNIYAT and wider-luxury developer BEYOND, has announced the establishment of a Strategic Advisory Board to support its next phase of growth and transformation.
The formation of the Advisory Board follows a milestone moment for the Group – OMNIYAT's successful debut in the international debt capital markets through a USD 500 million green sukuk. It also comes as the Group accelerates efforts to build an AED 100 billion portfolio over the next five years and institutionalize its operations.
The Advisory Board will be comprised of Mr. Noel Quinn, former Group CEO of HSBC; Rt. Honorable Nadhim Zahawi, former UK Chancellor of the Exchequer; Dr. Mark Machin, Founder and Managing Partner of Intrepid Growth Partners and former President and CEO of Canada Pension Plan Investments; Mr. Tim Collins, CEO of Ripplewood Advisors; Dr. Habib Al Mulla, Founder of Habib Al Mulla and Partners; Mr. Abdulmohsen Al Rashed, Managing Partner of Al-Rashed Group; and HE Hishammuddin Hussein, former Malaysian Minister of Defence and Foreign Affairs.
The Board will work closely alongside the Executive Chairman and the senior leadership team – bringing global perspective and deep expertise across finance, policy, governance, law, and international business. Its formation underscores the Group's ambition to evolve into a future-ready, diversified real estate platform with global reach and institutional depth.
Mahdi Amjad, Founder and Executive Chairman of OMNIYAT GROUP, commented: 'This marks a significant and proud milestone for OMNIYAT Group and our portfolio brands, OMNIYAT and BEYOND. OMNIYAT has demonstrated a successful track record within ultra-luxury for almost two decades and with the rapid ascent of BEYOND within the wider-luxury segment, we believe now is the right time to bring on seasoned global experts who can help guide our journey ahead. We are honoured to welcome such an esteemed group whose global insights, diverse perspectives, and proven leadership will help shape our strategic direction and ensure we continue to deliver best-in-class experiences across every market we serve . '
Advisory Board Member Bios: Mr. Noel Quinn, former Group Chief Executive of HSBC. Mr. Quinn retired in September 2024 after a 37-year career with HSBC and its constituent companies, including five years as Group CEO. He remains active in the Sustainable Markets Initiative, founded by HM King Charles III, and previously chaired its Financial Services Taskforce. He also served as a Principal of the Glasgow Financial Alliance for Net Zero.
Rt. Honorable Nadhim Zahawi, former UK Chancellor of the Exchequer and Chairman of the Conservative Party. Mr. Zahawi served as Member of Parliament for Stratford-on-Avon for nearly 15 years and held several senior government positions. He is currently Non-Executive Chair and Board Member of The Very Group.
Dr. Mark Machin, Founder and Managing Partner of Intrepid Growth Partners. Dr. Machin is a prominent global investor and executive with extensive experience in finance and investment management. He served as President and CEO of Canada Pension Plan Investments (CPP Investments) from 2016 to 2021, leading one of the world's largest pension funds. Prior to that, he spent over 20 years at Goldman Sachs, where he led Capital Markets and Investment Banking in Asia ex-Japan. Dr. Machin currently holds advisory and board roles with GIC, CVC Capital, Opto Investments, Mubadala Investment Company, and the Atlantic Council.
Mr. Tim Collins, CEO and Senior Managing Director of Ripplewood Advisors LLC, a global investment firm he founded in 1995. Ripplewood has successfully built companies across Europe, the Middle East, and Asia, with investments totaling over $20 billion in enterprise value. Mr. Collins played a leading role in transforming Shinsei Bank in Japan and Commercial International Bank of Egypt, and has served on the boards of Citigroup, Gogo, Palm Hills, and others. He is also a member of the McKinsey Advisory Council and is involved in several not-for-profit and public sector activities.
Dr. Habib Al Mulla, is a prominent Emirati legal authority with over 32 years of experience in UAE law. He has played a central role in drafting key legislative frameworks in Dubai and is a frequent commentator on legal and economic reform. Dr. Habib has held several senior government roles, including membership in the UAE Federal National Council and leadership of the UAE Jurists Association.
Mr. Abdulmohsen Al Rashed, Managing Partner of Al-Rashed Group, one of the largest investment holding companies in Saudi Arabia and the Gulf region. With a career spanning more than 40 years in real estate and investment, Mr. Al Rashed has held numerous board and executive positions across Saudi Arabia, bringing extensive leadership experience and regional expertise to the Advisory Board.
HE Hishammuddin Hussein, former Senior Minister of Defence and Minister of Foreign Affairs of Malaysia. A prominent political and legal figure, he has served as a Member of Parliament since 1995 and held senior cabinet roles in defence, foreign affairs, and internal security. He is a longstanding member of the United Malays National Organisation (UMNO) and has played a key role in regional diplomacy and national security policy.
The inaugural Advisory Board meeting took place on 8 May at The Lana Dorchester Collection, where members were briefed on the Group's growth strategy, performance and upcoming initiatives.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mid East Info
21 hours ago
- Mid East Info
Belkin Announces Record-Low Prices on Tech Essentials for Amazon Prime Day 2025 - Middle East Business News and Information
With Amazon Prime Day just around the corner, Belkin will be offering some amazing deals, including a selection of our most popular products, all at their lowest price ever on Amazon. Not only are these great deals, but these products are also tech essentials. *All of the below deals will be their lowest price ever on Amazon SoundForm Isolate Noise Cancelling Over-Ear Headphones These high-quality, wireless headphones offer active noise cancellation (ANC) and are perfect for working remotely, watching a film on the plane/train and more. CloudCushion-equipped ear cups and an adjustable headband ensure an excellent fit and long-listening comfort. RRP: AED 129.00 / Deal price: AED 78.99 BoostCharge Power Bank 20K with Integrated Cable Keeping a safe, high-quality power bank on hand is essential for holiday travel. Charge up to 30W with its integrated USB-C cable (less to carry) and its USB-C and USB-A ports allow charging of a second and third device at the same time. RRP: AED129.00/ Deal price: AED 88.99 PNG_Version 13.7 MB BoostCharge Compact USB-C Charger 20W Get a safe and budget-friendly USB-C fast charging option for your device. This compact charger offers up to 20W of power to charge your new iPhone, Samsung smartphone or to power your MagSafe-enabled accessories at their optimal speed. It's USB-C PD 3.1 certified, supporting a wide range of Power Delivery-enabled devices. RRP: AED 39 / Deal Price: AED 24.98 BoostCharge Pro 3-in-1 Wireless Charging Stand with Qi2 15W This best-selling stand not only looks great, but it offers a secure, aligned magnetic connection for iPhone with 2x faster charging speed. Charge iPhone, Apple Watch and wireless earbuds in one place. RRP: AED 399/ Deal Price AED 298.99 SoundForm Surround Wireless Over-Ear Headphones These comfortable, high-quality wireless headphones with Clear Call Quality technology are perfect for working from home or remotely, gaming and more. Fast USB-C® charging brings 60 hours of playtime on a full charge. Foam ear cushion cups and an adjustable headband ensure an excellent fit and long-listening comfort. RRP: AED 99 / Deal price AED 78.99
Mid East Info
a day ago
- Mid East Info
du reports a stellar net profit expansion in Q2 2025 with a 25.1% year-over-year growth - Middle East Business News and Information
Revenue growth accelerates to 8.6% and EBITDA margin reaches 46.8% Board of Directors approves interim cash dividend of AED 0.24 per share, up 20% year-over-year Dubai, 2025 – Emirates Integrated Telecommunications Company PJSC (du) reported its financial results for the second quarter of 2025. Continuing the positive momentum established in the first quarter, our revenues increased by 8.6% year-over-year, reflecting strong performance across all business segments and solidifying our market position. EBITDA rose by 16.4% resulting in an EBITDA margin of 46.8%, a 3.1 percentage points improvement year-over-year, driven by our strategic focus on value-driven products and our disciplined cost management. This operational excellence translated into an impressive net profit increase of 25.1%. In recognition of these strong financial results, the Board has approved an interim cash dividend of AED 0.24 per share, representing an increase of 20% year-over-year. Q2 2025 Highlights: Solid subscriber base growth with an increase of 10.8% in Mobile and 12.0% in Fixed, reflecting positive market dynamics and good level of customer acquisition Strong market position with 8.6% revenue growth and solid performance across all business segments Impressive bottom-line growth with EBITDA up 16.4% and margin improving by 3.1 pp to 46.8% resulting in net profit rising by 25.1% 2025 guidance: 2025 Revenue growth of 6-8%, 2025 EBITDA margin: 45-47% Upgraded full-year guidance supported by the strong performance achieved in the first half and highlighting confidence in the growth trajectory Strategic investments in adjacent businesses to support future growth highlighted by: Start of deployment of the hyperscale datacentre in partnership with Microsoft Launch of the National Hypercloud platform Financial Summary Quarterly Half year AED million Q2 2025 Q2 2024 change H1 2025 H1 2024 change Revenues 3,902 3,592 8.6% 7,750 7,174 8.0% Service revenues 2,817 2,594 8.6% 5,597 5,157 8.5% Quarterly Half year AED million Q2 2025 Q2 2024 change H1 2025 H1 2024 change Other revenues 1,085 998 8.8% 2,153 2,016 6.8% EBITDA 1,826 1,569 16.4% 3,650 3,155 15.7% EBITDA Margin (%) 46.8% 43.7% 3.1pp 47.1% 44.0% 3.1pp Net profit 727 581 25.1% 1,449 1,184 22.4% Capex 545 442 23.1% 921 801 15.0% Capital intensity (%) 14.0% 12.3% 1.6pp 11.9% 11.2% 0.7pp Operating Free Cash Flow 1,282 1,126 13.8% 2,729 2,354 15.9% Malek Al Malek, Chairman said: 'Our strong performance in the first half of 2025 reflects the effective delivery of our focused strategy, underpinned by a favourable economic environment and sustained commitment to business excellence. The Board is confident in management's customer-centric and agile approach, which reinforces du's leadership in driving innovation and adaptability. We take pride in our strategic initiatives that contribute to advance the UAE digital agenda, expanding our ICT capabilities and accelerating the digital transformation. Through partnerships with global technology leaders, we are enabling sovereign hyperscale cloud and AI services from UAE-based data centres—empowering a smarter, more connected future for the Emirates. We continue to ensure disciplined capital allocation and sustained long-term value creation for our shareholders. Reflecting our robust first-half results and continued confidence in du's future prospects, the Board has approved an interim dividend per share of 24 fils, underlining our enduring commitment to shareholder returns.' Fahad Al Hassawi, CEO commented: 'Our second quarter financial results showcased impressive performance, fuelled by the meticulous execution of our strategy and consistent growth across every aspect of our operations. We achieved double digit growth in both our Mobile and Fixed subscriber base, underscoring our market leadership and brand strength. We advanced our network coverage and enhanced our connectivity offering with the commercial rollout of 5G Advanced. Our fibre infrastructure also expanded significantly, supporting long-term demand for high-speed connectivity. We launched the UAE's first sovereign hyperscale cloud platform, the National Hypercloud, and made advances in deploying our hyperscale data centre in collaboration with Microsoft, positioning us at the forefront of secure, AI-ready digital infrastructure. These operational achievements translated into strong financial performance underpinned by our disciplined approach to value creation and cost efficiency. The solid revenue growth of 8.6% year-over-year was coupled with strong profitability as EBITDA margins expanded by 3.1 percentage points to 46.8%, translating into a 25.1% increase in net profit. Our upgraded full-year guidance reflects the strong performance achieved in the first half of the year, our confidence in the resilience of our business model and our ability to deliver sustainable, profitable growth.' Customer base: In Q2 our Mobile customer base grew by 10.8% year-over-year, reaching 9.1 million subscribers, representing 893,000 net-additions year-over-year. Postpaid rose 9.8% year-over-year to 1.9 million customers supported by strong momentum in the enterprise segment. Prepaid grew by 11.1% to 7.3 million subscribers, reflecting the continuous success of the Alo brand among blue-collar workers and the expansion of retail presence in underserved areas, as well as a solid tourist activity. In Q2 our Fixed customer base recorded a strong year-over-year growth of 12.0%, reaching 706,000 subscribers, with 76,000 net-additions over the past 12 months. This performance was driven by the continued success of our Home Wireless offering as well as sustained demand for fibre broadband services, reflecting our enhanced value proposition and our expanding Network. Q2 2025 Financial Highlights: Revenues surged by 8.6% year-over-year reaching AED 3.9 billion, marking strong performance across both service and non-service revenues. This strong performance underscores the continued momentum in our core business and the successful execution of our revenue diversification strategy. Mobile revenues climbed by 7.7% year-over-year to AED 1.7 billion reflecting sustained growth in our customer base and the success of our targeted propositions and highly effective marketing campaigns. The optimized use of digital and retail channels also enhanced customer acquisition and engagement, further fuelling revenue momentum. Fixed revenues rose by 10.1% year-over-year reaching AED 1.1 billion mainly driven by the ongoing expansion in Home Wireless and Fibre customer base. We witnessed encouraging traction in the SME segment, along with increased adoption of Office Wireless solutions-further cementing our position as a trusted partner for connectivity and productivity. 'Other revenues' recorded an 8.8% year-over-year growth to AED 1.1 billion buoyed by higher inbound roaming and interconnection revenues—reflecting our expanded Mobile base, higher handset sale, and growth in ICT revenues in line with our strategic ambition to broaden revenue streams beyond traditional connectivity. EBITDA grew by 16.4% to AED 1.8 billion, with the EBITDA margin improving by 3.1 points year-over-year to 46.8%. The uplift was fuelled by a stronger gross margin, mainly benefiting by a more favourable mix, with continued migration toward unlimited data plans. Our continued discipline around cost efficiency and collections also played a pivotal role in enhancing profitability. Net Profit rose by 25.1% year-over-year to AED 727 million, delivering a Net Profit margin of 18.6%. This reflects the strength of our operational performance and a clear focus on value creation for our shareholders. Capex reached AED 545 million (Q2 2024: AED 442 million), representing a capex intensity of 14.0% (Q2 2024 capex intensity of 12.3%). This increase reflects our commitment to scaling our data centre capabilities and supporting long-term digital infrastructure growth. Operating free cash flow (EBITDA – Capex) rose by 13.8% to AED 1.3 billion, underpinned by strong EBITDA growth. This robust cash generation provides the financial flexibility to invest in future growth while maintaining attractive shareholder returns. Based on these results, the Board approved an interim dividend of AED 0.24 per share for the first half of the year, representing a 20% increase year-over-year and reflecting the strong financial performance and confidence in our outlook. About du: du adds life to life with a comprehensive portfolio of mobile, fixed, broadband, entertainment services, and fintech solutions. Through a digital-first approach powered by ultra-reliable fibre and 5G technology, du delivers bespoke solutions leveraging cloud computing, AI-driven analytics, advanced cybersecurity, and IoT integration. As a trusted digital telco enabler spearheading the UAE's digital transformation, we collaborate with a dynamic partner ecosystem to propel industries and society toward operational excellence, shaping a more connected and digitally advanced future across the region.
Mid East Info
a day ago
- Mid East Info
Amlak Finance announces early and full settlement of outstanding financing facilities - Middle East Business News and Information
Dubai, United Arab Emirates,July 2025: Amlak Finance PJSC, today announced its early and full settlement with the financiers, a pivotal achievement that underscores its financial discipline and strategic foresight. Since the initial restructuring under the Common Terms Agreement (CTA) in 2014, Amlak has successfully settled AED 10.2 billion with a total of 29 financiers. As of 24 July 2025, Amlak has fully settled its financial obligations, which were contractually scheduled to be settled by October 2026, by paying the balance amount of AED 898 million to the six remaining financiers ahead of schedule, which is a key step towards the formal CTA exit. Over the past few years, the settlement of financial obligations has been one of the most significant challenges. The Board of Directors and leadership team have exerted exceptional efforts in this regard to actively engage with the financiers and settle the obligations. These dedicated efforts have been instrumental in achieving this key milestone. This achievement was further reinforced by a series of strategic steps, including the sale of some land assets, which aligned with the company's long-term vision and facilitated the early settlement with the financiers. Commenting on the early settlement, Arif Albastaki, CEO of Amlak Finance PJSC, said: 'The successful settlement ahead of time, marked by the early fulfilment of our financial obligations, signifies a pivotal moment for Amlak. This achievement not only underscores our commitment to a robust financial framework but also reflects our resolve to deliver on our promises and empowers us to embark on our transformative journey with renewed vigour.' 'We are following a strategic path that not only strengthens our financial position but also allows us to focus on high-growth opportunities. This represents a critical step forward as we transition into a more agile and focused organisation,' added Arif. With a renewed focus on innovation, efficiency, and financial stability Amlak remains committed to driving sustainable growth and creating long-term value for its shareholders and other stakeholders. This milestone marks the beginning of an exciting new era for Amlak. Amlak Finance PJSC: Since its establishment in November 2000 as the region's pioneer financial services provider, Amlak Finance has provided its customers with innovative, Sharia-compliant property financing products and solutions designed to meet the rapidly evolving market demands.
