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Abu Dhabi sovereign wealth fund Mubadala Investment Company has agreed to acquire a $1 billion minority stake in Luckin Coffee. The transaction is conducted in partnership with Luckin's controlling shareholder Centurium Capital, whose 22.08% ownership remains unchanged. Luckin operates over 36,000 stores in China alongside 250 international locations.
China's property market slump has dragged on for five years, with falling values and mounting debt straining developers and households. Government-backed developer China Vanke reported a record 89 billion yuan loss, while China Evergrande was delisted from the Hong Kong stock exchange. In response, Chinese authorities have introduced mortgage interest subsidies and relaxed municipal purchase rules as falling values push millions of mortgages underwater.
China Securities has secured regulatory approvals to launch a regional office in the Dubai International Financial Centre. Concurrently, JD.com subsidiary JINGDONG Property has agreed to construct a 150,000-square-metre smart logistics facility in Abu Dhabi's KEZAD economic zone.
The UAE Federal Tax Authority has directed businesses with annual revenues of Dh50 million or more to appoint an Accredited Service Provider by October 30, 2026, or face monthly penalties. Separately, the Federal Authority for Identity, Citizenship, Customs and Port Security clarified that in-country tourist visa extensions are capped at 120 days and business exploration permits at 180 days. Both authorities detailed financial penalties for non-compliance and overstaying.
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