Author
Harsh Batra
Harsh Batra
In early 2026, PwC’s 29th Global CEO Survey found that 80% of Middle East CEOs plan to pursue a major acquisition within the next three years, the highest rate of any region worldwide. The figure was recorded before the recent escalation between the US and Iran, and now geopolitical tension now adds a layer of risk, but appetite has held. Forbes identified two forces shaping regional M&A activity: strategic consolidation led by sovereign wealth funds and national diversification agendas, alongside the geopolitical shocks already noted.
As Romil Radia, Deals COO at PwC Middle East, put it in the report: “Dealmaking in the Middle East is no longer about scale alone; it is being used to build ecosystems and anchor long-term economic transformation.”
That appetite is also visible in this fortnight’s deals. The highlights:
- Dubai Holding completed the acquisition of ICD’s stake in Emaar Properties, taking its total ownership to 29.73%. The transaction, reportedly valued at around $6.5bn, consolidates Dubai Holding’s exposure to one of the UAE’s flagship developers.
- AD Ports signed an agreement to acquire MBS Logistics, expanding its international freight forwarding and logistics footprint through a platform with operations across key European trade corridors.
- Fakeeh Care signed a binding agreement to acquire 100% of Dr. Mohammed bin Rashid Alfagih & Partners Company, adding a major Riyadh hospital and medical complex to its portfolio. The SAR 1.596bn transaction is one of the fortnight’s largest healthcare deals.
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Deals Tracker
Outbound M&A
- USA | Mubadala acquired minority stake in Power Factors
- UK | Mubadala also invested in Hornsea 3 offshore wind farm, the largest in the world
- USA | Abu Dhabi-listed Investcorp Capital (ICAP) has deployed more than $200 million to acquire US industrial real estate assets across 19 properties
- India | Emirates NBD’s acquisition of RBL Bank has received its final regulatory approval, officially turning RBL Bank into a foreign bank subsidiary. The deal was initially announced in October 2025
- Italy | EDGE Group has signed an agreement to acquire a controlling stake of the italia Costruzioni Motori Diesel
- India | The NCLT in Mumbai has approved a cross-border merger under which two Dubai-based group entities will be merged into India’s NMDC Data Centre Private Limited
The rumour mill
- Oman | Oman’s Al Batinah Power and Al Suwadi Power are evaluating a potential tie-up, with both SAOG-listed entities studying synergies tied to a new 15-year Power Purchase Agreement. Neither transaction value nor a completion timeline has been disclosed
- Syria | Mohamed Alabbar, founder of Emaar, is preparing a Syria investment programme worth up to $18 billion, spanning real estate and infrastructure as the country reopens to Gulf capital
IPOs
- Saudi Arabia | Saudi-listed MGC has filed its prospectus for a 30% float on TASI, opening the door to retail and institutional subscription
- Oman | Oman India Fertiliser Company is preparing an IPO on the Muscat Stock Exchange, joining a queue of state-linked Omani issuers heading to public markets
- Egypt | Egypt’s COPAD is structuring its upcoming offering as a predominantly secondary deal, with growth-stage investor TCV preparing to use the listing as an exit route
- Egypt | Korra is weighing an EGX listing to fund a regional expansion beyond its current Egyptian footprint
- Egypt | Egypt’s Prime Minister Madbouly has reviewed progress on the planned EGX listings of companies linked to the armed forces, part of a broader divestment programme
Job moves
- UAE | Neurovia, the recently formed subsidiary of Robo.ai, has named an Abu Dhabi technology executive as its CTO
- Oman | Oman’s Liva Group has appointed Sheikh Khalid Abdullah Al Khalili as its new Chairman
- MENA | QBE Re has named Montassar Cherrak, previously at Scor, as Regional Head of Middle East and North Africa
Fundraising
- Saudi Arabia | Saudi Insurance Company SIC has added $425 million to its alternative investments allocation, signalling a deeper push into non-traditional asset classes
- Saudi Arabia | Saudi Arabia’s Ministry of Housing intends to issue $40 billion of real estate bonds by 2030 to finance the Kingdom’s housing pipeline
- Kuwait | Kuwaiti contractor HEISCO has rolled over a $45 million loan facility, extending its working-capital headroom
- Kuwait | Kuwait’s Action Energy Company has lined up $132 million in fresh credit facilities
- Egypt | Egypt has raised $1 billion through a USD-denominated social bond, with the order book peaking above $3.7 billion
- UAE | GymNation, the UAE-based fitness operator, has secured a $100 million debt facility from HPS Investment Partners, the private credit arm now under BlackRock
- Oman | Energy Development Oman has tapped its existing notes for an additional $200 million, taking advantage of receptive bond market conditions
- Saudi Arabia | Aumet, the Saudi healthtech platform, has closed a $12 million round earmarked for regional expansion
- Oman | Oman Arab Bank has mandated banks for a perpetual non-call 5.5-year AT1 bond denominated in US dollars
- Saudi Arabia | Al Rasheed has expanded its credit facility with Emirates NBD to SAR 35 million
- UAE | Brands for Less has obtained a $68 million ESG-linked loan from Emirates Islamic, tying pricing to sustainability performance targets
- Saudi Arabia | Saleh Al Rashed has signed a SAR 50 million credit facility agreement with Alinma Bank
- Saudi Arabia | Molan has received a SAR 15 million interest-free shareholder loan from a major investor on its register
