Banking, fintech, funds, capital markets and cross-border investment
Aldar Properties has signed an AED 1.1 billion forward purchase agreement with Arada to acquire nine residential buildings in Sharjah's Aljada development. The deal marks Aldar's first real estate investment in Sharjah and covers more than 1,100 units scheduled for handover in Q4 2029. The acquisition expands Aldar's develop-to-hold pipeline across sectors to AED 21 billion.
Bank of China Dubai priced a two-year fixed-rate Yulan bond worth 2 billion yuan ($280 million) at a final yield of 1.6%, down from initial guidance of 2.1%. The senior unsecured notes will be listed on both Nasdaq Dubai and the Hong Kong Stock Exchange. Settlement is scheduled for October 23, 2026, with proceeds designated for general corporate purposes.
Sharjah Police have dismantled four interconnected international criminal networks and arrested 33 suspects from 12 nationalities linked to an Dh8.8 billion ($2.4 billion) money laundering scheme. The operation, codenamed 'End of the Battle', secured over Dh65 billion in assets belonging to more than 30 companies worldwide and seized over Dh200 million in funds. Authorities reported the networks used artificial intelligence tools for phishing and laundered illicit proceeds through virtual assets, bank accounts, and luxury goods.
Network International and Commercial Bank of Dubai have expanded their merchant lending referral partnership beyond point-of-sale financing. The expanded suite provides UAE SMEs with commercial property financing and unsecured working capital loans. Eligibility criteria have also been widened to include smaller and newer enterprises.
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