Preparations have begun to relocate GITEX GLOBAL and Expand North Star to Expo City Dubai in 2026.

The international technology event will take place from December 7–11 2026, marking a new chapter in its 45-year journey.

Visitors will also be able to enjoy the world’s first and largest ‘TechCation’ experience at the event, merging technology and lifestyle through citywide activations.

The move aims to advance the objectives of the Dubai Economic Agenda D33, which targets positioning Dubai among the world’s top three urban economies.

For many years, GITEX GLOBAL was annually hosted at the Dubai World Trade Centre (DWTC) while Expand North Star has taken place at Dubai Harbour.

New era for GITEX Global

The repositioning of GITEX to December aligns the event with Dubai’s peak tourism season, offering international executives and investors an opportunity to engage in business and experience the city’s cultural calendar.

GITEX TechCation will extend beyond the exhibition halls, transforming Dubai into a connected showcase of technology, business, and lifestyle.

The 2026 edition, referred to as GITEX 5.0, will be held at the Dubai Exhibition Centre, Expo City, which is undergoing a $2.7bn expansion to become the region’s largest purpose-built indoor events venue.

The upgraded venue will provide the scale and infrastructure for GITEX to expand into new frontiers of global technology and AI-driven economies.

The event will open on December 7 2026 with the new GITEX Scale Summit, a day dedicated to strategic dialogue among global leaders on policies and opportunities shaping AI economies.

From December 8–11 , the expo will feature innovations across AI, quantum computing, biosciences, and advanced manufacturing.

GITEX Global and Expand North Star will reunite at the new venue, creating an integrated platform that brings together startups, investors, policymakers, and technology companies.

GITEX works in collaboration with the Dubai Department of Economy & Tourism and other entities representing sports, hospitality, eco-tourism, and wellness to create destination-led experiences for visitors.

The new initiative is part of Dubai’s broader strategy to enhance its global competitiveness, attract investment, and foster a knowledge-based economy.

The Middle East and North Africa (MENA) region has overtaken other global markets in branded residential development, accounting for 36 per cent of new worldwide signings, according to new data from Global Branded Residences (GBR), a leading advisory firm in the sector.

The surge cements MENA’s position as the fastest-growing region for branded living, driven by an increasing number of fashion-branded and standalone residential projects.

Dubai leads the global market, with nearly 160 branded developments either completed or in the pipeline, surpassing traditional hubs such as Miami, New York, and London by a significant margin.

In MENA, standalone projects — those without a hotel component — make up 31 per cent of completed developments and 51 per cent of the pipeline.

As a result, 45 per cent of all branded residential projects in the region will soon be standalone, compared with a global average of 36 per cent.

The data suggests the regional market is moving beyond the traditional model where branded residences are tied to operating hotels.

Fashion brands driving branded residence growth

Fashion brands are playing a key role in this shift, dominating the non-hotel branded segment across MENA — the only region globally where they hold the lead. Fashion labels account for 51 per cent of all non-hotel branded projects, nearly double the global average of 26 per cent.

More broadly, non-hotel brands now represent 30per cent of the regional pipeline, up from 24 per cent of completed projects, underscoring growing demand for design, fashion, and automotive-led residential concepts.

Fairmont is poised to be the largest operator in the region, with 19 branded residential schemes in both completed and pipeline stages.

The MENA market is also seeing new entrants, including jewellery house De Grisogono, which ranks fourth in the regional pipeline with eight projects, and restaurant and hospitality brand Nobu, which has six developments underway.

According to GBR’s proprietary data, the global branded residential market now comprises 1,746 schemes — 779 completed and 967 in the pipeline.

The MENA region represents nearly 13 per cent of existing global supply and 25 per cent of future developments. It currently has 99 completed projects and 241 under development.

The UAE leads the region with 201 projects, while Saudi Arabia follows with 43 and Egypt with 32.

The data shows robust growth across both urban and resort locations, reinforcing MENA’s strong position in the branded living market.

GBR expands to Middle East, opens office in Dubai

In response to rising demand, GBR has established a dedicated office in Dubai, led by founder and director Riyan Itani.

GBR’s expansion into the Middle East follows its recent launch in Asia Pacific. The company provides services including brand and operator selection, feasibility and brand premium studies, and product and pricing definition, supported by its data-driven approach and global operator network.

GBR has advised on over 150 projects across 45 countries, including developments for Four Seasons, Mandarin Oriental, One&Only, Rosewood, and Ritz-Carlton.

“The Middle East has always been a beacon for branded residential excellence, and our launch here is both a continuation and evolution of our work in the region,” said Itani.

“Having advised on some of the most ambitious and prestigious projects across MENA, we are now doubling down on our commitment with dedicated in-market expertise and an expanded service offering,” he added.

Multiply Group, the Abu Dhabi-based investment holding company, has signed an agreement to acquire a majority stake in Italy’s ISEM Packaging Group, a leading European packaging manufacturer, marking its expansion into a fifth consumer-focused vertical.

Under the terms of the deal, Multiply Group will hold a 60.8 per cent stake in ISEM, while European private equity firm Peninsula Capital and minority investors will retain the remaining 39.2 per cent.

The transaction, which is subject to regulatory approvals, represents Multiply’s sixth global partnership since its listing on the Abu Dhabi Securities Exchange in December 2021.

Multiply Group enters into the packaging sector

The acquisition signals Multiply Group’s entry into the packaging sector, complementing its existing consumer-focused businesses in beauty and apparel. The company said the move aligns with its strategy of building scalable platforms in high-growth industries and reflects its ambition to broaden its global footprint.

Founded in 1949 and headquartered in Bologna, Italy, ISEM Group is a highly automated packaging specialist renowned for its craftsmanship and “Made in Italy” design standards.

Its key clients include LVMH, Kiko, Gucci, L’Oréal, Puig, and Coty Lancaster.

The group manufactures rigid boxes, folding cases, silk paper, and dust bags, operating 11 production facilities across more than 100,000 square metres.

“This transaction is our second in Europe this year as we continue with our global growth ambitions,” said Samia Bouazza, group CEO and MD of Multiply Group. “With 3x revenue and 4x EBITDA growth from 2021 to 2024, a long-standing blue-chip client base, a highly automated industrial footprint, and strong fundamentals, we believe ISEM Group is a great fit for our portfolio. With this acquisition, alongside Peninsula Capital and the management of ISEM, we see opportunities to maximise competitive advantages, elevate value creation, and create synergies within the industry and potentially with our beauty and apparel sectors.”

Multiply and Peninsula said their partnership combines Multiply’s long-term investment approach and experience in platform building with Peninsula’s sector knowledge and reach across Southern Europe.

Multiply, Peninsula Capital investment to help ISEM grow industrial platform

“We are proud of the journey accomplished together with ISEM Packaging Group, which has become a European leader in packaging and a partner of choice for global beauty and fashion leading brands,” said Borja Prado, founding partner of Peninsula Capital. “Since our entry, revenues have tripled through strong organic growth and targeted M&A. Confident in its future, we are pleased to reinvest in the group through our latest flagship fund and join forces with Multiply Group – a strategic global investor with a strong track record in scaling businesses.”

Francesco Pintucci, CEO of ISEM Group, said Multiply’s investment will enable ISEM to grow its industrial platform and global reach. “This important step represents full continuity with our long-term vision and growth strategy – to build the world’s leading industrial group capable of supporting our customers at 360°, combining the highest standards of quality, innovation, and service with a strong ESG commitment,” he said.

Multiply Group continues to expand its portfolio through targeted global partnerships while aligning its investments with the UAE’s broader economic diversification goals.

Riyadh Air, owned by Saudi Arabia’s Public Investment Fund (PIF), will begin operating daily flights between Riyadh and London Heathrow on October 26 as part of its operational readiness programme ahead of its full commercial launch.

The flights will be operated using a Boeing 787-9 Dreamliner named Jameela, the airline’s reserve aircraft. The inaugural service, flight RX401, will depart King Khalid International Airport at 3:15 am local time and arrive at Heathrow at 7:30 am, according to a statement.

The return flight RX402 will leave London at 9:30 am and arrive in Riyadh at 7:15 pm local time.

Tickets for the route will initially be available only to select passenger groups and Riyadh Air employees as the airline tests systems, crews and service procedures. The airline said the London route forms part of an evaluation process before it begins commercial operations with its own fleet of Boeing aircraft.

Riyadh Air plans to introduce additional flights to Dubai following the London service. The operations will support a comprehensive review of flight performance, crew training and ground handling as part of a wider readiness programme for the upcoming winter 2025 and summer 2026 schedules.

The carrier also unveiled its new loyalty programme, Safeer, which will offer digital membership services and personalised rewards. The launch of Safeer is part of Riyadh Air’s broader effort to build customer engagement ahead of its global rollout.

Riyadh Air was established in 2023 by Crown Prince Mohammed bin Salman to strengthen the kingdom’s aviation sector and position Riyadh as a global transport hub. The airline aims to fly to more than 100 destinations worldwide by 2030, supporting Saudi Arabia’s Vision 2030 plan to diversify the economy and boost tourism.

The soft launch from Riyadh to London marks the first step in testing the airline’s operational systems and customer experience before public ticket sales begin.

Riyadh Air is one of several major aviation projects backed by the PIF, which has invested heavily in airports, airlines and logistics infrastructure as part of efforts to attract 330 million passengers annually by the end of the decade.

Saudi Arabia is on track to sustain annual non-oil growth of between 4.5 and 5.5 per cent through the coming decade, according to a new cross-sector report published by Moody’s Ratings on Wednesday.

The ratings agency, through its latest sector report, says the kingdom’s economic diversification drive under Vision 2030 is “advancing and supporting the country’s medium-term economic prospects,” even as funding constraints and uneven project progress present challenges.

Moody’s adds that Saudi companies “continue to have robust credit ratios,” though it warns that rapid expansion in the credit and insurance markets “will carry risks for companies in those sectors.”

In its report, which consists of four key questions around Vision 2030, the ratings agency provides insight and a series of charts that highlight the country’s economic advancement.

What progress is Saudi Arabia making on its Vision 2030 strategy to diversify the economy?

Non-oil growth remains the backbone of Saudi Arabia’s transformation.

Moody’s highlights that “non-oil economic growth, particularly in the services sector, will remain robust as the large-scale projects are implemented and gradually commercialise.”

Since 2016, services have been the fastest-growing non-hydrocarbon segment, expanding at 8 per cent annually, ahead of construction (6.6 per cent) and manufacturing (4.8 per cent).

Reforms have also paid off: the female labour participation rate has more than doubled since 2016, while unemployment among Saudis has dropped to record lows, falling under 10 per cent.

However, Moody’s cautions that “progress is uneven on some major projects, partly reflecting supply-side and funding constraints.”

Fiscal trade-offs will persist, with government debt likely to rise from 26 per cent of GDP in 2024 to more than 36 per cent by 2030, but Moody’s says Saudi Arabia will “continue to support economic diversification while preserving robust government finances.”

Who is funding Vision 2030 investments and what is the impact on Saudi company balance sheets?

The Public Investment Fund (PIF) remains at the centre of Vision 2030 financing. With assets exceeding SAR 3.4 trn ($913 bn), PIF has invested more than SAR 642 bn over the past five years to build sectors from retail and telecoms to mining, aviation and technology.

Moody’s estimates that “investment from PIF alone will reach SAR 1 trillion during the 2025–30 period.” Despite higher capital expenditure and borrowing, most rated corporates are expected to “maintain their credit quality,” supported by “strong starting balance sheets and access to diversified funding channels.”

Private capital is gradually gaining ground. Domestic non-oil investment has grown around 25 per cent a year over the past four years, outpacing government investment. Moody’s notes that the “gradual shift toward private co-investment and public-private partnerships is helping sustain credit quality.”

How are banks dealing with funding challenges amid sustained credit growth?

Credit expansion remains one of the fastest in the region. Moody’s reports that Saudi credit growth has averaged 12–14 per cent annually over the past five years, driven by giga-projects and mortgages, while deposit growth trails at 6–9 per cent.

As a result, the loan-to-deposit ratio has exceeded 100 per cent since 2021, prompting lenders to diversify funding. “Saudi banks are diversifying their funding sources beyond traditional deposits to include capital market issuance and syndicated loans,” the report says.

In 2024, Saudi bank issuance hit SAR 56 bn, more than doubling the previous year’s total. However, Moody’s warns that “a rapid acceleration of market-based funding could heighten refinancing risks.”

The Saudi Real Estate Refinance Company is helping by developing the kingdom’s first residential mortgage-backed securities market, while the Saudi Central Bank has introduced new macroprudential measures, including a 100 basis-point countercyclical capital buffer to curb overheating.

What is the insurance sector’s role in Vision 2030 and what challenges does it face?

The insurance industry is expanding rapidly as Vision-related projects demand complex coverage and as regulatory reform boosts participation. “The insurance sector is undergoing rapid expansion with an increasingly diverse range of products and growing demand,” Moody’s notes.

New rules have made multiple covers compulsory — from motor and domestic worker to pilgrimage and travel protection — while the regulator now requires local insurers to offer at least 30 per cent of reinsurance to domestic firms.

Competition will keep premiums low, and smaller insurers face pressure as claims and reinsurance costs rise. Yet Moody’s says the long-term outlook remains positive: “As more of the population becomes insured, premium income will stabilise,” while consolidation through M&A “supports the market and enhances financial resilience.”