Royal Private Offices (RPOs) in the Gulf Cooperation Council (GCC) control $500 billion in assets and are driving the creation of new sovereign wealth funds. The UAE is home to most RPOs, with the Royal Group being the largest shareholder. The Gulf’s sovereign wealth funds have pushed global assets under management to $18 trillion by 2030.
PROPERTY
Dubai Holding Real Estate has awarded a road and infrastructure development contract to UAE-based Wade Adams for Phase I of Plantation Development in Dubai, focusing on balancing buildings and landscapes.
money
Crypto markets experienced a positive week following the Federal Reserve’s decision to maintain interest rates and forecast two rate cuts in 2025. Bitcoin surged to $87,470, indicating optimism. The US PCE Personal Consumption Expenditures data is expected to boost Bitcoin and other crypto assets.
Egypt’s General Authority for Investment and Free Zones (GAFI) and Mashreq Bank Egypt have signed a memorandum of understanding to boost investment cooperation and promote Egypt’s growing business opportunities. The MoU aims to showcase Egypt’s diversified economy, strategic location, large consumer market, and major national projects.
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