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Jahez Delivers 50% Net Income Growth and Strong Expansion Across All Verticals And Geographies In 2024

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شمس سيف
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Jahez Delivers 50% Net Income Growth and Strong Expansion Across All Verticals And Geographies In 2024
Jahez Delivers 50% Net Income Growth and Strong Expansion Across All Verticals And Geographies In 2024

Jahez International Company for Information System Technology (“Jahez”, or the “Group”, 6017 on the Saudi Exchange’s TASI– Main Market), announces its financial results for the full year of 2024. The Group recorded all-time high profitability and record total orders, while growing market share in all verticals and across all regions including KSA and non-KSA.

Ghassab Bin Salman Bin Mandeel, CEO of Jahez Group, said:

“2024 was a defining year for Jahez Group, marked by record profitability, sustained growth, and our successful transition to the Main Market of the Saudi Exchange (TASI).
In a growing total addressable market, we pursued our expansion in the on-demand services across our core platforms. In Saudi Arabia, we grew our operations, and we continued to captured market share especially outside the central region. In parallel, our operations in Kuwait and Bahrain and in the new verticals are scaling rapidly, reinforcing Jahez’s ability to create and deliver value across diverse markets.
As we enter 2025, we remain focused on sustainable and profitable growth while strategically investing in our ecosystem. We are diversifying our revenue streams by further integrating and expanding our offerings beyond food delivery, creating more seamless experiences for our users and partners while investing in our logistic capabilities. With an expanding market and an unwavering commitment to innovation and customer obsession, Jahez Group is solidifying its leadership across Saudi Arabia, Kuwait, and Bahrain. Through our ecosystem, we are delivering convenience, reliability, and exceptional service to our users and merchants.”

Key Highlights 2024
  • GMV up 28.5% YoY to 6.5 billion (2023: 5.1 billion), with GMV in non-KSA geographies up 2.9x, while KSA platforms grew by 20.4% YoY.
  • Net Revenue up 24.3% YoY to 2.2 billion (2023 1.8 billion), driven by record full-year total orders exceeding 106 million, higher average order value, and a higher take-rate.
  • Net Income Attributable to the Shareholders of the Parent Company grew 50.0 % YoY to 187.9 million (2023: 125.3 million)
  • Adj. EBITDA of 250 million, exceeding 2024 guidance, and representing 11.3% of Net Revenue, (2023: 181 million, 10.2% of Net Revenue).

DP WORLD AND MAWANI INAUGURATE SAR 3 BILLION STATE-OF-THE-ART TERMINAL IN JEDDAH

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Sahfy Sahfy
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DP WORLD AND MAWANI INAUGURATE SAR 3 BILLION STATE-OF-THE-ART TERMINAL IN JEDDAH
DP WORLD AND MAWANI INAUGURATE SAR 3 BILLION STATE-OF-THE-ART TERMINAL IN JEDDAH

DP World and Saudi Ports Authority (Mawani) have unveiled the new state-of-the-art South Container Terminal at Jeddah Islamic Port, marking a major milestone in DP World’s SAR 3 billion ($800 million) expansion and development programme to upgrade the terminal and enhance Saudi Arabia’s position as a leading global trade hub. 

The three-year project has transformed South Container Terminal into one of the region’s most advanced and sustainable container terminals, while also more than doubling the capacity from 1.8 million twenty-foot equivalent units (TEUs) to 4 million TEUs. The expansion paves the way for a future capacity of 5 million TEUs, with additional ship-to-shore equipment to be deployed as demand grows. 

Since becoming DP World’s first concession outside the UAE in 1999, the Jeddah terminal has played a crucial role in regional trade. This latest expansion, under a 30-year Build-Operate-Transfer (BOT) agreement, cements Jeddah’s status as a critical trade gateway and supports Saudi Arabia’s Vision 2030 goals of boosting trade connectivity and economic diversification. 

An official ceremony was held to mark the opening, attended by Saudi Minister of Transport and Logistic Services, His Excellency Eng. Saleh bin Nasser Al-Jasser; DP World Group Chairman and CEO, His Excellency Sultan Ahmed bin Sulayem; Abdulla Bin Damithan, CEO and Managing Director of DP World GCC; other senior representatives from DP World and Mawani, government entities, and key customers. 

His Excellency Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, said, “Today marks a significant milestone in our long-term strategic investment in Jeddah Islamic Port. This expansion builds on our 25-year legacy in Jeddah and reinforces our commitment to driving trade growth in the region.  With this modernised terminal, we are enhancing efficiency, improving supply chain resilience and creating new trade opportunities for the Kingdom and beyond for decades to come.”

Efficiency & Sustainability at its Heart

The terminal’s modernisation integrates advanced automation and digitalisation to improve operational efficiency. Smart systems will slash gate transaction times — from two minutes to just 10 seconds — supported by IoT-enabled cargo tracking and AI-powered cargo tallying for precise record keeping. 

Automated and electrified yard cranes have also been introduced, along with an expanded fleet of quay cranes that will grow from 14 to 17 by the end of 2025, reaching 22 as the terminal scales up to 5 million TEUs.  

Due to the surging demand for perishable cargo such as food and pharmaceuticals, the terminal’s capacity for refrigerated containers (reefers) has been expanded from 1,200 to 2,340, ensuring optimal conditions for temperature-sensitive shipments. DP World is also developing a state-of-the-art facility for inspecting up to 75 reefers at one time —the biggest such port-centric facility in the Kingdom. 

The terminal spans a total quay length of 2,150 metres, including a deep-water quay with an 18-metre depth, capable of accommodating up to five ultra-large container vessels simultaneously. 

In line with its global sustainability strategy, DP World is implementing initiatives to reduce CO₂ emissions at South Container Terminal by 50% in the next five years. Measures include the electrification of yard cranes and trucks, solar panel installations, exploration of floating solar platforms, along with green building designs and water recycling systems. These efforts will significantly cut emissions, enhance air quality and establish DP World’s Jeddah terminal as a model for sustainable port operations. 

Adjacent to the terminal, DP World is investing in the 415,000 square metre Jeddah Logistics Park, the largest integrated facility of its kind in the Kingdom, which will offer state-of-the-art warehousing, distribution and freight forwarding services, further strengthening Jeddah’s position as a key hub connecting trade routes across Asia, Africa and Europe. Integrated with the terminal, Jeddah Logistics Park will streamline cargo transfers and enhance efficiency, with completion scheduled for Q2 2026.

Tanmiah Food Company Signswith Griffith Foods to Drive Halal Culinary Excellence Across the Middle East

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Sahfy Sahfy
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Tanmiah Food Company Signs MoU with Griffith Foods to Drive Halal Culinary Excellence Across the Middle East
Tanmiah Food Company Signs MoU with Griffith Foods to Drive Halal Culinary Excellence Across the Middle East

Tanmiah Food Company (“Tanmiah”, “TFC” or the “Company”, 2281 on the Saudi Exchange), established in 1962, one of the Middle East’s leading providers of fresh poultry, processed proteins, animal feed, health products and restaurants operator, today announced the signing of a Memorandum of Understanding (MoU) with Griffith Foods (“Griffith”), a global product development and production company specializing in customized food ingredient solutions.

This collaboration will diversify Tanmiah Food Company product portfolio, expand regional distribution, and advance the Kingdom’s Vision 2030 objectives of food security and self-sufficiency, in addition to driving sustainability across the supply chain.

The collaboration sets the stage for a supply agreement aimed at strengthening product availability and supporting growth in targeted market segments. Both companies will engage in discussions to align key aspects of the contract, and innovative strategies that leverage Griffith Foods’ expertise in food product development and ingredient systems and Tanmiah’s strong regional market presence. In addition to the supply agreement, the two companies will explore the establishment of a joint venture in Saudi Arabia. This partnership will focus on expanding the market reach by identifying new growth opportunities and developing a comprehensive business strategy to enhance operations and product development capabilities. A key element of this initiative will be the establishment of a state-of-the-art R&D center in Saudi Arabia, dedicated to food innovation, product formulation and the development of healthier, more sustainable food solutions tailored to regional and global markets.

Recognizing the increasing demand for halal food solutions and halal ingredients, as highlighted recently in the Makkah Halal Forum 2025, Tanmiah and Griffith Foods will collaborate to build a strong halal brand in Saudi Arabia and beyond. This initiative will combine Griffith Foods’ global product development capabilities with Tanmiah’s well-established local manufacturing operations to enhance halal food offerings and drive leadership in this growing market segment.

To support these strategic initiatives, the companies will assess the feasibility of establishing the first of its kind facility in KSA dedicated to producing 100% halal ingredients, catering to the GCC market.

His Excellency Amr Al-Dabbagh, the Chairman of Tanmiah Food Company, commented:

“Tanmiah’s strategic partnership with Griffith Foods is indeed a milestone in our journey, that is aligned to our goals of redefining culinary excellence in the Middle East. By integrating Griffith Foods’ century-old expertise in product development and innovation with our regional capabilities, we are looking to empower food manufacturers across MENA to create halal, nutritious, authentic, healthy, and sustainable recipes that cater to unique regional tastes. We are excited about this critical collaboration and its role in complementing our wide range of high-quality Halal products and in supporting Vision 2030’s objectives of food security, economic growth, and environmental stewardship.”

Brian Griffith, Chairman of Griffith Foods, added:

“Griffith Foods is strongly committed to helping customers create better products – and a better, more sustainable world, and our partnership with Tanmiah exemplifies this core objective. By joining hands with one of the region’s largest food manufacturers, we are looking forward to bringing new flavors and ingredients conforming to the Halal standard of KSA to the Middle East’s evolving food landscape. This collaboration aligns with our aspirations of partnering to create sustainable food system networks, developing nutritious and sustainable food products and creating new markets to serve the underserved. We look forward to contributing to Saudi Arabia’s vision for a sustainable future, while empowering local food businesses to thrive.

EFG Finance Announces Strategic Divestment from PayTabs Egypt to Optimize Operational Efficiency

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Sahfy Sahfy
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EFG Finance Announces Strategic Divestment from PayTabs Egypt to Optimize Operational Efficiency
EFG Finance Announces Strategic Divestment from PayTabs Egypt to Optimize Operational Efficiency

EFG Finance, an EFG Holding company and its non-bank financial institution’s arm, has announced its strategic divestment from PayTabs Egypt as part of its ongoing initiative to streamline operations and achieve greater efficiencies across its portfolio. EFG Finance will sell its 51% stake in PayTabs Egypt to PayTabs Global for an undisclosed amount, which is not expected to have a material impact on the Group’s financial position.

Aladdin ElAfifi, CEO of EFG Finance
Aladdin ElAfifi, CEO of EFG Finance

Aladdin ElAfifi, CEO of EFG Finance, commented: “Our divestment from PayTabs Egypt represents a strategic step in refining our operational focus. By reallocating resources from non-core assets, we enhance our ability to drive sustainable growth and innovation in key areas. This decision aligns with our long-term strategic objectives and commitment to delivering value to our stakeholders.”

EFG Finance will continue to explore opportunities that align with its mission of providing innovative financial solutions in a dynamic market environment. The vertical remains dedicated to focusing its efforts on delivering comprehensive financial services to clients, both individuals and businesses of all sizes. By prioritizing innovation and adaptability, EFG Finance aims to equip its clients with the tools and solutions they need to thrive in an ever-changing economic landscape. This commitment to excellence ensures that EFG Finance will consistently offer tailored and cutting-edge financial products that support growth and success.

A British Father Faces the Tragedy of His Missing Children Amid Authorities’ Indifference

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Sahfy Sahfy
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A British Father Faces the Tragedy of His Missing Children Amid Authorities’ Indifference
A British Father Faces the Tragedy of His Missing Children Amid Authorities’ Indifference

Adam Abraham, 38, has been living a relentless nightmare for more than seven months, desperately searching for his two children who vanished on July 31 last year after their mother cut all contact and disappeared without a trace.

Born in London and a fashion business owner, Adam had separated from his former partner, Trinidad-born Cheri King, ten years ago, yet they maintained an amicable relationship for the sake of their children, 13-year-old Haris and 11-year-old Maya. The children lived with their mother in Kew, southwest London, during the week and spent weekends and school holidays with their father and his new wife Emily at their home in Richmond.

The children maintained daily phone contact with their father and paternal grandmother until July 31, when Adam found their phones switched off. After days of unsuccessful attempts to reach them or their mother, he went to their home in Kew only to find it completely empty, with no sign of their whereabouts.

Adam immediately began searching for his children, only to discover that Cheri had not contacted any family or friends for weeks and had been struggling with depression before her disappearance. When he reached out to their school, he was shocked to learn that they had been withdrawn without his knowledge.

Despite filing reports with the police and social services, he was repeatedly met with the same response: since he does not have legal custody, authorities are unable to provide him with any information, leaving him feeling helpless in the face of bureaucracy that prevents him from even confirming their safety.

Speaking about his ordeal, Adam said:
“Every day without my children is a living nightmare. I feel lost, helpless, and completely broken, not knowing if they are safe, if they are scared, or if they even understand what’s happening. The thought of Haris and Maya being taken away from everything they know, without warning, without a choice, haunts me. I can’t begin to imagine how confused and afraid they must feel, and it kills me that I can’t be there to protect them. No parent should ever have to go through this—fighting just to know if their children are okay while those in power turn a blind eye. The justice system is failing us, and I am desperate for answers before it’s too late.”

Adam is now making an urgent appeal to the authorities to help locate his children or at least confirm their safety, as he finds himself in a desperate situation with no official support, lost in uncertainty and fear.

Will the authorities step in to end this father’s anguish, or will bureaucracy continue to stand in the way of a man simply searching for his children?

Trump’s tariff Tuesday is here: investors must act now

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Sahfy Sahfy
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Trump’s tariffs Tuesday is here and the levies are reshaping the global investment landscape in real time, warns the CEO of one of the world’s largest independent financial advisory and asset management organizations.

Nigel Green of deVere Group is weighing in as the US imposes sweeping 25% tariffs on Canada and Mexico, an additional 10% on Chinese imports, and a looming threat against the European Union, and as markets brace for increased volatility.

These are not theoretical concerns—they’re immediate, transformative forces that demand action from investors who seek to stay ahead,” he says.

Inflation is set to surge as the cost of everyday goods rises, squeezing corporate margins and reshaping supply chains across industries.

Forecasts from deVere Group indicate that inflation in the US could climb by as much as 2.1%, “putting pressure on the Federal Reserve to maintain a more hawkish stance for longer than markets had anticipated,” notes the deVere Group chief executive.

Investors must reassess their positioning in light of these developments.

This isn’t a time to sit on the sidelines. An expected tariff-fuelled inflationary environment demands strategic asset allocation, and those who act now will be better placed to turn volatility into opportunity.

The market implications are vast. The US dollar, often buoyed by trade tensions, is likely to maintain resilience as investors flock to perceived safety.

Commodities, already in high demand, could experience further price surges, benefiting energy and industrial sectors.

Meanwhile, domestic manufacturing stocks stand to gain as supply chains adjust to new tariff realities.

At the same time, businesses reliant on imports face rising costs, forcing either a margin squeeze or price increases for consumers.

Tech, retail, and automotive sectors will need to navigate this environment carefully. Those who take a proactive approach—securing exposure to companies with strong pricing power or tapping into alternative markets—will be best positioned to thrive.

The additional 10% tariff on Chinese goods compounds existing economic frictions, amplifying costs for industries that rely on China’s vast manufacturing infrastructure.

From Asia to Europe, Latin America to Africa, and beyond, businesses and investors must anticipate and adjust to a world where supply chain recalibrations are no longer optional, but essential.

He continues: As inflationary pressures are likely to mount, global portfolios must adapt.

Sectors that thrive in such an environment—commodities, energy, and industrials—are poised for strong performance.

Companies that can pass on costs without eroding demand will outshine competitors struggling to maintain margins.

Investors who are selective and strategic will capture outsized gains. Those who hesitate risk being left behind.

Beyond equities, alternative assets come into sharper focus. Hard assets, inflation-hedged investments, and emerging market opportunities tied to evolving trade flows could present significant upside.

Nigel Green concludes: “These tariffs are a pivotal shift in global economic policy with immediate and potentially lasting consequences.

Investors who recognize the opportunity now, who take decisive action rather than reacting after the facts, will be the ones who are likely to stand to benefit most in this new era of trade and market recalibration.

ECONOMIC AND GEOPOLITICAL RISKS BOOST OUTSOURCING AS FIRMS LOOK TO SPECIALISTS TO HELP NAVIGATE THE CURRENT ENVIRONMENT

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Sahfy Sahfy
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Economic and geopolitical risks are boosting outsourcing and prompting companies to widen their investment focus, new global research* from Ocorian, the specialist global provider of services to financial institutions, asset managers, corporates and high net worth individuals shows.

More than half (52%) of major companies, asset managers working in alternative investments, family offices and wealth managers questioned in the study say they have already increased their areas of focus for investments to mitigate economic and geopolitical risks while nearly half (49%) say they have outsourced more to third parties to benefit from experts who have the knowledge and scale to deal with the ever changing landscape.

The research across the European Union, UK, US, Canada, South Africa, Asia and the Middle East which also included senior executives at capital markets companies and professional services providers found 60% plan to increase outsourcing more generally over the next 18 months. Whilst around half (48%) say they plan to increase investment in their businesses over the period with a third (34%) planning to increase M&A activity and 23% planning to diversify into new geographies or sectors.

The study sounded a note of caution with 26% planning to decrease their levels of investment and M&A activities, showing that sentiment is still divided amongst firms.

Senior executives at major companies and asset managers working in alternative investments believe the banking sector will be most positively affected by the results of recent elections around the world. Around 71% say the sector will benefit while 51% say the insurance sector will be positively affected.

The industrial goods and services sector is also seen as a beneficiary of recent election results with 51% saying it will be positively affected. The oil and gas sector is seen as the least likely to benefit – just 18% questioned believe it will be positively affected.

Charlotte Cruickshank, Global Head of Onboarding and Solutions at Ocorian said: “Rising geopolitical and economic tensions have posed problems for companies worldwide to solve and key to that has been seeking support from third party specialists and diversifying their investment focus.

“It is clear that outsourcing of more operations and working with more specialist third parties will continue to trend over the next 18 months as companies look to ensure they are protected as much as possible from the latest economic and geopolitical issues which have a significant impact on decision making.”

Ocorian’s newly launched Global Asset Monitor provides further in-depth insights into how public and private markets are evolving, highlighting key investment trends shaping the financial landscape. With private assets growing nearly three times as fast as public assets over the past 15 years, the report explores how investors are adapting their strategies in response.

Ocorian is a global leader in fund administration, capital markets, corporate and fiduciary services. Ocorian helps its clients solve complex problems so they can optimise investment performance and build their competitive advantage.

In Partnership with Abu Dhabi Customs: Al Masaood Sets Best Practice Example in Supply Chain & Logistics Operations to visiting High Profile Hong Kong Delegation

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Sahfy Sahfy
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In Partnership with Abu Dhabi Customs: Al Masaood Sets Best Practice Example in Supply Chain & Logistics Operations to visiting High Profile Hong Kong Delegation
In Partnership with Abu Dhabi Customs: Al Masaood Sets Best Practice Example in Supply Chain & Logistics Operations to visiting High Profile Hong Kong Delegation

For the third consecutive year, Al Masaood Group, prominent Abu Dhabi conglomerate, hosted a high-profile delegation from Hong Kong in partnership with UAE Customs, Abu Dhabi Customs and Federal Tax Authority. The visit highlighted Al Masaood Group’s model of excellence in implementing management and logistics systems within the AEO framework.

The delegation’s visit provided an in-depth exploration of the Group’s operations, offering them a clear view of the company’s streamlined supply chain and rigorous logistics and safety protocols. It included a guided tour of Al Masaood Automobiles’ recently revamped facility and warehouse, providing first-hand insights into the Group’s storage methods and shipment handling procedures, as well as the company’s strategic contributions to Abu Dhabi’s economy. 

Al Masaood obtained AEO certification in 2021 – a significant milestone for the Group, achieved through meticulous efforts and commitment to excellence. The process involved meeting rigorous security and compliance requirements, intensive evaluations, and close interactions with Abu Dhabi Customs to ensure adherence with international standards. Commenting on this, Ahmed Salmeen, Chief Executive Government Affairs, Al Masaood Group, said: “Achieving the AEO certification has been transformative for Al Masaood. As a strategic player in the international trade ecosystem, being AEO-certified optimises our operational efficiency, thus strengthening our supply chain security and solidifying our international partnerships.”

Today, Al Masaood stands as a global trade player with leading international brands. Being a certified AEO operator allows the Group to enhance operational efficiencies, strengthen supply chain security, and solidify global trade partnerships. It also enables the company to foster a culture of trust, reliability, and security with its trade partners. These all align with Al Masaood’s efforts to support the UAE’s economic landscape while unlocking new opportunities and collaborations.

EBRD partners with CBE and EBank to boost Egyptian SMEs’ export capacity

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Sahfy Sahfy
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EBRD partners with CBE and EBank to boost Egyptian SMEs’ export capacity
EBRD partners with CBE and EBank to boost Egyptian SMEs’ export capacity

The European Bank for Reconstruction and Development (EBRD) and the Central Bank of Egypt (CBE) have launched the SME National Champions programme, partnering with local financial institutions – including Egypt’s Export Development Bank (EBank) – to accelerate the growth of high-potential small and medium-sized enterprises (SMEs).

The SME National Champions programme aims to empower Egypt’s most promising SMEs, supporting them with training, mentoring and opportunities to network with other non-financial service firms. Selected businesses will also receive personalised consulting and specialist capacity-building support tailored to their individual needs and objectives.

The programme began with a masterclass for members of EBank’s recently launched Export Club – a networking platform where EBank clients can share knowledge and access services with the ultimate goal of boosting their export capacity. Entitled “A Strategic Gateway to Saudi Arabian Market Success”, the session provided SMEs with practical insights and tools for entering the Saudi Arabian market and growing their businesses.

The SME National Champions programme is part of a broader collaboration between the EBRD and EBank aimed at expanding the financial and non-financial services that EBank provides to its exporting clients and enhancing the value proposition of its Export Club.

The EBRD will facilitate one-to-one business consulting by matching selected Export Club members with local and international consultants to help overcome barriers to export growth. In addition, members will gain access to masterclasses, training sessions led by industry experts and targeted content – all designed to equip them with the essential skills and best practices they need for success in new markets. This comprehensive support will help EBank to expand its non-financial offering and grow its Export Club in alignment with its own goals.

SMEs play a crucial role in Egypt’s economy, driving innovation, productivity and job creation. By joining forces with key partner financial institutions, the EBRD is aiming to enhance the SME sector’s competitiveness and its contributions to sustainable economic growth.

Egypt is a founding member of the EBRD. Since the start of its operations there in 2012, the Bank has invested more than €13.8 billion in the country through 198 projects.

Strategic Development Fund Signs Initial Agreement with REGENT to Set Up a Joint Venture for Seaglider Manufacturing and Services in the UAE.

By
شمس سيف
-
Strategic Development Fund Signs Initial Agreement with REGENT to Set Up a Joint Venture for Seaglider Manufacturing and Services in the UAE.
Strategic Development Fund Signs Initial Agreement with REGENT to Set Up a Joint Venture for Seaglider Manufacturing and Services in the UAE.
  • Strategic Development Fund (SDF) and REGENT Craft signed an initial agreement to bring manufacturing and aftermarket services for advanced electric seaglider to the UAE, pending closing conditions and regulatory approvals.
  • SDF invested in REGENT in 2023, increasing its stake in late 2024 as negotiations on the UAE partnership progressed, with plans for further investment upon its successful establishment.
  • JV follows April 2024 agreement between Abu Dhabi Investment Office (ADIO) and REGENT to support the company’s manufacturing capabilities within the Smart and Autonomous Vehicle Industry (SAVI) cluster.
  • Learn more about REGENT here and learn more about demand for seagliders in the UAE here.

 Strategic Development Fund (SDF), an Abu Dhabi-based investment company wholly owned by EDGE Group, one of the world’s leading advanced technology and defence groups, today announced that it has signed an initial agreement with REGENT Craft, a Rhode Island-based developer and manufacturer of all-electric seagliders. The agreement aims to establish a joint venture (JV) to manufacture REGENT’s electric seagliders in the UAE for supply to the Middle East, Africa and beyond, upon receipt of all necessary approvals.The JV will also provide aftermarket services, including maintenance, repair, and overhaul (MRO).

The venture aligns with EDGE’s and SDF’s strategic objectives in focusing on advanced technologies within specific strategic sectors, among which are aerospace, and dual-use technologies. It also supports projects that contribute to the development of the industrial ecosystem and enhance critical supply chain and production capabilities within these sectors.

SDF initially invested in REGENT in 2023 and increased its stake in 2024 as negotiations for the UAE partnership progressed. Upon the successful establishment of the partnership, which is subject to finalizing conditions and obtaining local and international regulatory approvals – SDF plans to further invest in the company, reinforcing its confidence in REGENT’s potential and strengthening their long-term collaboration.

Hamad Al Marar, EDGE Group Managing Director & CEO, commented: “SDF’s investment in REGENT Craft aligns with our commitment to focus on establishing strategic partnerships with key players in various industries to develop future-forward technologies. Our investments in critical sectors drive technological advancements and supports our goals to enhance the UAE’s industrial growth in strategic sectors.”

Abdulla Al Jaabari, Managing Director & CEO of SDF, commented: “We strongly believe in REGENT Craft’s vision and groundbreaking technology. This initial agreement marks a significant step in our strategic hybrid investment approach – combining investments in international startups with strategic partnerships to contribute to the development of transformative technologies in the UAE.”

Earlier this month, at the World Government Summit 2025 in Dubai, Billy Thalheimer, Co-founder and CEO of REGENT Craft, spoke at the “Future of Mobility Forum.” During his presentations and discussions across multiple forums, he discussed REGENT’s plans for establishing a state-of-the-art seaglider manufacturing plant in Abu Dhabi, UAE.

“We are honoured to deepen our collaboration with SDF and make Abu Dhabi and the UAE a centre for seaglider manufacturing,” said Billy. “This transformative potential partnership will usher in a new era of sustainable transportation technology.”

The agreement follows an April 2024 Memorandum of Understanding (MoU) between the Abu Dhabi Investment Office and REGENT that aims to support the company’s development and manufacturing capabilities within Abu Dhabi’s Smart and Autonomous Vehicle Industry (SAVI) cluster.

Commenting on the development, His Excellency Badr Al-Olama, Director General of ADIO, said: “This agreement represents an important step forward in encouraging investment in advanced technologies, supporting innovation, and accelerating industrial development in Abu Dhabi. SDF and REGENT Craft’s partnership also advances the objectives of Abu Dhabi’s Smart and Autonomous Vehicle Industry (SAVI) cluster, solidifying the emirate’s position as a leader in sustainable, next-generation transportation solutions across air, land and sea.”

REGENT in the UAE

This collaboration will scale REGENT’s manufacturing capabilities and aftermarket services, enhancing its ability to meet the increasing demand for seagliders in the region and beyond. REGENT recently broke ground on a 255,000-square-foot seaglider manufacturing facility in Rhode Island, expected to come online in 2026.

Seagliders are a novel all-electric high-speed vessel that operate exclusively over water to connect coastal destinations for uses including passenger travel, cargo transport, offshore energy logistics, defense operations, and emergency response and aid.

REGENT projects the manufacturing and deployment of seagliders in the UAE have the potential to make significant contribution to the country’s annual GDP in the next decade through localizing supply chain, creating high value jobs, and increased domestic tourism and spending.

Seagliders, which use existing dock infrastructure, are expected to enter into service in the UAE in 2027, and REGENT has been working with key stakeholders in the country to enable a smooth integration into existing transportation networks.

REGENT has signed agreements with the Abu Dhabi Department of Municipalities and Transportation (DOT) to integrate seaglider service into the existing UAE transportation network and with Abu Dhabi Maritime to explore the feasibility of electric seagliders as a mode of transportation on Abu Dhabi waterways.

REGENT is also working with Aramex, a global logistics and transportation solutions provider, to assess the feasibility of integrating REGENT’s high-speed seagliders into Aramex’s middle-mile logistics network.

REGENT is working with maritime classification society Lloyd’s Register and the UAE Marine Transport Affairs Department to advance seaglider maritime certification in the country.

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