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‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Alpha Dhabi to invest $2.5 bn in Chimera

Alpha Dhabi reports a year-on-year increase of 29 percent in its 9M 2023 profit.
  • The investment comprises a capital contribution of AED2.6 billion and an undrawn capital commitment of AED6.6 billion.
  • The fund's investment emphasis aligns with Alpha Dhabi's growth strategy, which focuses on investment in disruptive technologies.

Alpha Dhabi Holding will invest AED9.2 billion ($2.50b) in Chimera Capital and Alpha wave’s landmark “Alpha Wave Ventures II”, launched in early 2022.

The investment comprises a capital contribution of AED2.6 billion and an undrawn capital commitment of AED6.6 billion, which will be drawn down over the fund’s investment period.

The venture capital fund – which has already begun making investments – has a global remit and will focus on multi-stage private firms.

This includes concentrating on growth-stage companies across a wide range of sectors, including artificial intelligence, financial technology, life sciences, consumer internet and B2B.

The fund’s investment emphasis aligns with Alpha Dhabi’s growth strategy, which focuses on investment in disruptive technologies.

It is a part of the UAE’s ambition to create a diversified, tech-enabled and competitive economy that fosters a culture of innovation.

The fund will target investments in high growth, tech-enabled and tech-driven businesses that provide innovative solutions to key problems both regionally and globally.