Daily Archives: July 3, 2024

Real Estate

MAG Partners with MANTRA to Tokenize $500 Million in Assets, Marking a UAE Milestone for Real Estate

United Arab Emirates, Dubai: 3 July 2024 — In a significant move in the global tokenized real world asset sector, MAG, a leading real estate developer in the UAE, announced a major partnership today with MANTRA, the Institutional-grade Layer 1 blockchain for tokenized RWAs, which will see the tokenization of half a billion US dollars’ worth of MAG’s real estate portfolio.

With MAG’s total real estate portfolio valued at over US$5bn, the collaboration with MANTRA aims to revolutionize real estate investment through the application of blockchain technology.Starting with Keturah projects – Keturah Reserve in Meydan, Dubai and Keturah Resort atDubai Creekside,the partnership will introduce a real estate financing vault on MANTRA’s purpose-built compliance-ready Layer 1 blockchain. This initial vault product provides investors with an attractive yield derived from an alternate asset class and is backed by the security of blockchain technology.

Continue reading MAG Partners with MANTRA to Tokenize $500 Million in Assets, Marking a UAE Milestone for Real Estate →
Business & Investments

India’s Largest Crypto Exchange CoinDCX Acquires MENA Region’s Crypto Leader BitOasis

  • MENA Market Entry: CoinDCX’s entry into the MENA market represents the first step in its international expansion plan, reflecting the company’s global ambition and unlocking new growth opportunities
  • Regulatory Milestones: BitOasis has recently secured a new licence from the Central Bank of Bahrain (CBB), further solidifying its presence in the region. BitOasis may operate as a broker-dealer in accordance with the permissions granted to it under its VARA issued MVP Operational Licence.
  • Enhanced User Experience: Users can expect enhanced crypto services, access to more tokens, increased liquidity, and improved trading experience.

Dubai, July 3.2024 – CoinDCX, the largest crypto exchange in India, proudly announces the acquisition of BitOasis, the Middle East and North Africa’s leading virtual assets trading platform boasting the highest trading volume in Emirati Dirhams. CoinDCX had previously made a strategic investment in BitOasis in August 2023. 

Continue reading India’s Largest Crypto Exchange CoinDCX Acquires MENA Region’s Crypto Leader BitOasis →
Business & Investments

ALSULAIMAN IKEA ANNOUNCES A 70 MILLION RIYAL INVESTMENT TO LOWER PRICES ON THOUSANDS OF PRODUCTS

  • With over 40 years in Saudi Arabia, Alsulaiman IKEA continues to offer affordable furniture that brings style, comfort, and functionality to homes

  • Alsulaiman IKEA is committed to making additional investments to the product line and grow the affordable home furniture solutions category

Jeddah, KSA, July 2024: Alsulaiman IKEA, the leading home furniture brand, announces a major investment of 70 million riyals to further reduce the prices of their products, introducing 3000 ‘New Lower Price’ items during 2024. Alsulaiman IKEA, part of Alsulaiman Group, plans to continue making additional investments in the coming years to provide more affordable home furniture solutions and expand the category.

Continue reading ALSULAIMAN IKEA ANNOUNCES A 70 MILLION RIYAL INVESTMENT TO LOWER PRICES ON THOUSANDS OF PRODUCTS →
Education

Abu Dhabi is set to host Amazon UNIVERSITY Esports Masters, the big party for college esports in MENA

  • Two UAE teams will represent the country at the Grand Final of this competition, involving also university students from Saudi Arabia, Egypt and Morocco.
  • The third edition of the competition will be held on-site between July 5 and 6 at Pixoul Gaming.
  • Amazon UNIVERSITY Esports Masters is the season finale of Amazon UNIVERSITY Esports, a global project involving more than 100,000 students from all over the world.
  • The video games market in the UAE is forecast to grow from revenues of USD 420.90 million in 2024 to USD 492.90 million by 2027.
Continue reading Abu Dhabi is set to host Amazon UNIVERSITY Esports Masters, the big party for college esports in MENA →
Business & Investments

Bayt.com & YouGov Survey:

79% of professionals in the MENA region anticipate technological advances to redefine the future of work

Bayt.com and YouGov’s comprehensive study reveals optimism and changing dynamics in the MENA job market

Dubai, UAE 7 July 2024: Bayt.com, the Middle East’s leading job site, and YouGov today announced the results of the Future of Work in MENA 2024 survey, providing a data-driven perspective on workforce confidence, skill set priorities, recruitment practices, and the sectors poised for growth or decline.

The survey showcases a region that is positive about its professional future, with 80% of the respondent’s expressing confidence in the future of work and achieving success despite the rapidly changing job landscape, and less than 20% feeling uncertain about the future. The confidence is stronger within the GCC markets, highlighting a positive outlook for upcoming opportunities and career progressions.

Ola Haddad, General Manager at Bayt.com, said: “At Bayt.com, we are dedicated to understanding the dynamic needs of the job market and the professionals within the MENA region. Our extensive database of over 52 million job seekers was instrumental in conducting this research, and the results of this survey reveal a positive outlook among the workforce and underscore the growing importance of soft skills and hard skills, in addition to the anticipated shift in future recruitment processes”

Continue reading Bayt.com & YouGov Survey: →