BusinessToday Middle East, July 2026

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J U L Y 2 0 2 6 SHAHER MOUSLI AZHAR SAJAN RIZ AHMED RIZ AHMED, AZHAR SAJAN AND SHAHER MOUSLI SAT DOWN WITH BUSINESS TODAY MIDDLE EAST FOR ONE OF THE MOST HONEST CONVERSATIONS ABOUT WEALTH AND REAL ESTATE IN DUBAI T HE NE W W E A L T H P L AY BO O K

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JULY 2026 CONTENTS BIZTODAYME @BIZTODAYME BUSINESS TODAY MIDDLE EAST 3 CONTENTS 10 EDITOR’S NOTE 12 NEWS 18 PERSPECTIVE What 20+ Years of Project Delivery in the MENA Region Can Tell Us About �� 20 REAL ESTATE Why Abu Dhabi Real Estate Is Built to Last 22 OPINION Professional Services in the Age of the Informed Client 44 HOSPITALITY Julia Schamne: �� Impress; They Make You Feel 46 EVENT The Power Breakfast: The New Wealth Playbook 52 BUSINESS TODAY HOSPITALITY 50 30 LEADERSHIP �� A�� Chose Abu Dhabi Over Dubai for Its First Move Outside India 34 OPERATIONS Why AI Is a Co-Pilot, Not an Autopilot 38 FINANCE �� Key Considerations from a CFO 24 40 80 ROBERTO MANCONE ON WHAT DU PAY BECOMES NEXT BUILDING THE INFRASTRUCTURE BEHIND OMAN’S DIGITAL PAYMENT REVOLUTION 76 ENTREPRENEURSHIP What 808 Entrepreneurs �� A�� A�� Business Future 78 TECHNOLOGY �� Upgrade Has to Do With �� M�� A� Ambitions 82 JEWELLERY Cartier Reimagines the LOVE Bracelet in Colour 82 LIFESTYLE Fine Arts Paris Returns to the Grand Palais This September THE MOST POWERFUL FORMULA E CAR EVER BUILT DEBUTS THIS DECEMBER IN JEDDAH WWW.BUSINESSTODAY.ME 3

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SUBSCRIBE subscriptions@bncpublishing.net PO Box 502511 Dubai, United Arab Emirates P +971 4 4200 506 | F +971 4 4200 196 For all commercial enquiries, contact jo@bncpublishing.net T +971 50 440 2706 All rights reserved © 2026. The opinions expressed are solely those of the contributors. Business Today Middle East and its affiliated publications in the MENA region are exclusively licensed to BNC Publishing. No part of this magazine may be copied, reproduced, or transmitted in any form or by any means without prior written consent from the publisher. Printed by United Printing and Publishing | upp.ae Images used in Business Today Middle East are credited where necessary. Copyrighted images are used with permission. All uncredited images courtesy of Shutterstock. CEO WISSAM YOUNANE | wissam@bncpublishing.net Managing Director RABIH NAJM | rabih@bncpublishing.net Group Publishing Director JOAQUIM D'COSTA | jo@bncpublishing.net Editor AYA ZHANG | aya@bncpublishing.net Digital Reporter REEBA ASGHAR | reeba@bncpublishing.net Creative Lead CHRISTIAN HARB | chriss@bncpublishing.net Junior Art Director IKA WAHYUNI Business Development Director ANDY SOULAHIAN | andy.soulahian@bncpublishing.net Commercial Director ANDREA MOCAY | andrea@bncpublishing.net KSA country manager AMJAD FAKHOURI | amjad@bncpublishing.net Marketing Executive AARON JOSHUA SINANBAM | aj@bncpublishing.net Videographers EDUARDO BUENAGUA HARTON OTLANG JOEL AMPARO Contributors AMAL FARUK SALIK DR FLORIAN MEIER FARIS AL KHATTAB GILBERT BOUSTANY PROFESSOR ANGUS LAING ZAID ABOOBAKER BIZTODAYME @BIZTODAYME BUSINESS TODAY MIDDLE EAST BIZTODAYME BIZTODAYME BUSINESSTODAY.ME 8 BUSINESS TODAY MIDDLE EAST | JULY 2026

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Das gute Licht. Returns darkness to the night BEGA pole-top luminaires with Dark Sky technology direct the light in a highly efficient manner only where it is required. Light pollution of the night sky is avoided. bega.com/darksky

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10 BUSINESS TODAY MIDDLE EAST | JULY 2026 Aya Zhang Editor aya@bncpublishing.net Xiaoyue (Aya) Zhang xiaoyuezhangg I n this part of the world, there �� LETTER FROM EDITOR ON KEEPING UP

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NEWS INVESTMENT IHC-BACKED IRH AND ADANI GROUP SIGN $11.5 BILLION ALUMINIUM DEAL IN INDIA I nternational Resources Holding, the Abu Dhabi- based natural resources platform backed by IHC Group, has signed an MoU with Adani Enterprises and the Government of Odisha �� integrated aluminium project in India valued at approximately $11.5 billion. The 50:50 joint venture between IRH and Adani Enterprises will include a 4 million metric tonne per �� 2 million metric tonne aluminium smelter, a 4,000 MW captive power plant and a downstream manufacturing park. The project is projected to generate around 53,500 jobs across construction and operational phases and is expected to be �� investment proposal. The deal builds on the broader strategic partnership between IHC and Adani Group, which spans energy, transmission and artificial intelligence. IHC CEO Syed Basar Shueb said the investment aligns with the �� long-term platforms in industries shaping the global economy. Construction is expected to begin following land acquisition, statutory approvals and infrastructure planning. 12 BUSINESS TODAY MIDDLE EAST | JULY 2026

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DIFC AWARDS AED 3 BILLION HEIGHTS TOWER CONSTRUCTION CONTRACT Dubai International Financial Centre has awarded the main construction contract for DIFC Heights Tower to Al Basti and Muktha LLC, marking a key milestone for the AED 3 billion mixed-use development in Gate District. �� original land bank, the tower will deliver 366 luxury residences alongside premium commercial office space and retail and dining offerings. Completion is �� 2029� The contract was awarded at a meeting attended by DIFC Authority CEO Arif Amiri and Al Basti and Muktha Chairman Tushar Pathak. FINANCE The Abu Dhabi Fund for Development deployed A�� 562 �� last year, targeting healthcare, education, food security and economic development in India, Vietnam, Indonesia and Uzbekistan. The investments are projected to deliver healthcare services to more than two million �� 34,000 students, and more than 10,000 jobs across priority sectors. Key investments include SIS Hospital and Tam Tri Medical in Vietnam, Phase Education across Vietnam, Cambodia and Thailand, and �� A�� A�� Investment Company. Mohamed Saif Al Suwaidi, Director-General of A�� approach of directing capital toward high-impact initiatives that strengthen economic resilience in partner countries. ABU DHABI FUND FOR DEVELOPMENT DEPLOYS AED 562 MILLION ACROSS SIX INVESTMENTS IN 2025 REAL ESTATE WWW.BUSINESSTODAY.ME 13

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NEWS FINTECH TRADE REVOLUT RECEIVES UAE CENTRAL BANK APPROVAL FOR PAYMENTS LICENCES Revolut has received approval from the Central Bank of the UAE for a Stored Value Facilities licence and a Retail Payment Services licence, marking a �� operations in the country. The dual licensing will enable Revolut, which serves more than 75 million customers worldwide, to offer digital financial services under the �A�� Once operational, customers will be able to hold and manage multiple currencies, conduct domestic and international transfers, and make payments via physical and virtual cards through a single application. Ambareen Musa, GCC CEO of Revolut, said the UAE represents �� M�� Abdulrahman Alhawi, Undersecretary of the Ministry of Investment, said the �� A�� growing knowledge-based economy. CHINA OVERTAKES JAPAN AS SAUDI ARABIA’S TO� �EHI��E S��IER �� A�� 1�9 �� 202� �� 2025� �� Japan, India, Thailand and South Korea. A�� 959�000 �� 2025� �� 9�2�000 �� 202�� Chinese manufacturers including BYD, Chery, MG, JAC and Geely have gained ground by offering �� A� 50�000 �� A� 120�000 �� equipment levels matching or exceeding Japanese and Korean competitors at equivalent price points. The shift has been supported by rapid after-sales network expansion across Riyadh, Jeddah, Dammam and secondary cities, addressing a historical weakness of Chinese brands in the region. Growing consumer interest in SUVs, hybrids and electric vehicles has also worked in their favour. Toyota, Hyundai and Kia face the most direct �� and Hilux retain strong positions in the utility and pick-up segments. Whether Japanese and Korean manufacturers can arrest the market share shift will �� 2026 �� 202�� 14 BUSINESS TODAY MIDDLE EAST | JULY 2026

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RETAIL D � �� first fully integrated Logistics Distribution Centre at Sokhna Logistics Park, positioned within the Suez Canal Economic Zone with direct access to Sokhna Port. The facility offers end-to-end supply chain services including international freight forwarding, warehousing, customs clearance and value- added services such as assembly, packaging and product customisation. It is designed to allow businesses to serve multiple markets from a single regional hub while retaining inventory �� The inauguration was attended by Egyptian Prime Minister Mostafa Madbouly and coincided �� Kazim following his appointment as DP World Chairman. Three global customers signed agreements at the launch, including a Kenya- based tea exporter, a global consumer goods distributor serving eight markets, and a German �� DP World has invested more than $1.4 billion in integrated logistics infrastructure across Egypt, including the expansion of Sokhna Port and the development of Sokhna Logistics Park. D� �OR�D O�ENS E��T’S �IRST INTE�RATED LOGISTICS DISTRIBUTION CENTRE AT SOKHNA LOGISTICS WWW.BUSINESSTODAY.ME 15

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NEWS A�� M�� 9�99 �� stake in a renewable energy portfolio in Spain from Repsol, in a �� 9 �� The portfolio comprises 705 MW of operational capacity across 13 wind farms and six solar parks, all of which entered �� 2025 �� 2026� �� more than 565 MW of potential hybridisation pipeline growth spanning wind, solar and battery storage. Once completed, Masdar will hold 4.1 GW of operational capacity across the Iberian Peninsula, with around 1 GW under �� M�� 100 �� 20�0� �� 2026� subject to regulatory approvals. MASDAR ACQUIRES 49.99% STAKE IN RE�SO�’S S�ANISH RENE�AB�E PORTFOLIO FOR ¤849 MILLION SUSTAINABILITY ENERGY Oman has signed a series of agreements with EDF Power Solutions covering three major projects totalling 3,500 MW of clean energy capacity alongside a digital infrastructure platform. �� 2�000 M� �� A�� pumped hydro energy storage project, to be developed with EDF, ONEIC, TAKHZEEN Oman and Green Universe Enterprise, would be the largest project of its kind in the Middle East. Located near the Wadi Dayqah Dam, it will provide long-term energy storage and support grid stability. A separate agreement covers the 500 MW Al Kamil Solar PV Independent Power Project, to be �� consortium including EDF, ONEIC and OQ Alternative Energy. In parallel, Oman, EDF and Synergy Investments signed an MoU to develop a 1,000 MW sustainable digital infrastructure �� ambitions in AI, advanced computing and cloud services. OMAN AND EDF SIGN AGREEMENTS FOR 3,500 MW OF CLEAN ENERGY AND DIGITAL INFRASTRUCTURE 16 BUSINESS TODAY MIDDLE EAST | JULY 2026

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ALMARAI REPORTS SAR 5.87 BILLION IN Q2 2026 REVENUE, UP 11% Almarai reported an 11 per cent year-on-year increase �� 2026� �� SAR 5.87 billion, driven by sustained demand across its core product categories. �� 2026 �� A� 12�0� �� 9 �� 2025� �� 2 �� A� 6�5�� million despite ongoing external cost pressures. CEO Fawaz Al Jasser attributed the performance to strong consumer demand for poultry and dairy products, disciplined cost management and an improved product mix. The poultry, dairy and juice divisions all recorded solid growth during the quarter. BUSINESS I nvest Qatar has launched a Venture Capital Funding Module on the Invest Qatar Gateway, developed in collaboration with the Qatar Investment Authority, giving startups a single platform to discover, apply to and pitch participating VC funds. The module consolidates fund discovery, eligibility criteria and pitch submission into one platform. Participating funds include QIA- backed vehicles such as Shorooq, Speedinvest, B Capital, Builders VC MENA and Greycroft, alongside Tech Venture Fund by Qatar Science and Technology Park. QIA supports the participating funds through its $3 billion Fund of Funds programme. Dr. �� A�� at Invest Qatar, said the module offers startups a clear, direct path from idea to institutional capital. QATAR LAUNCHES VC FUNDING MODULE BACKED B� �IA’S �� BI��ION ��ND O� ��NDS Dr. Hamad Rashid Al-Naimi, �� Invest Qatar Haya Al Ghanim, Director of Qatar Funds, QIA VENTURE CAPITAL WWW.BUSINESSTODAY.ME 17

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OLD WAY I remember a conversation I had early in my career, on site, somewhere between a late delivery and a heated client meeting. A much more experienced consultant pulled me aside and said: “The project doesn’t lie. Schedules lie. If you’re willing to listen, the project will always tell you the truth.” Twenty-plus years later, I still think about that. �� more than two decades delivering projects across the MENA region, �� PERSPECTIVE Gilbert Boustany, Vice President, Project Delivery at Chalhoub Group WHAT 20+ YEARS OF PROJECT DELIVERY IN THE MENA REGION CAN TELL US ABOUT �HAT’S NE�T From Gulf booms to global disruption, two decades on the ground reveal a hard truth: the old model of project delivery no longer fits the complexity of what comes next. BY GILBERT BOUSTANY �� and mixed-use developments. I have �� recessions, through periods when the �� periods when everything stopped. What I want to share is not a retrospective. It is an observation about where we have been, what has quietly �� 18 BUSINESS TODAY MIDDLE EAST | JULY 2026

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new WAY THE FIRST PHASE TAUGHT ME THAT SPEED WAS THE CURRENCY. The GCC in the early 2000s was a region in a hurry. Governments were building nations. Brands were entering �� : �� Contractors who could move quickly were rewarded. Those who paused to ask the right questions were �� : �� handed over and immediately handed back. Speed without structure is not �� THE SECOND PHASE TAUGHT ME THAT THE CLIENT HAD CHANGED. The regional client, whether a government entity, a private developer, or a global luxury brand, had become considerably more sophisticated. They understood programmes, challenged cost plans, and compared notes with peers in other markets. The conversation moved to ��: �� built environment and the brand it was meant to carry. In luxury retail especially, the store is not a container �� THE PHASE WE ARE LIVING THROUGH NOW IS ASKING HARDER QUESTIONS. A global pandemic, supply chain �� shortages, geopolitical tensions, these were not exceptional events �� a structural change already underway. accepted pressure as the baseline and built their systems, their reporting, their escalation paths accordingly. Structured decision-making under pressure is a skill. It has to be built �� M��A �� most dynamic project environments in the world. The ambition is real. The investment is real. The opportunity is �� delivery are not complicated; plan with rigour, communicate without ego, and treat the project as the truth- �� is having the discipline to do those things consistently, especially when the pressure is on. That is what the industry has normalised to, and what it will demand �� What they revealed is that the old �� relationship-dependent, built on �� what comes next. The market did not slow down. It became more complex. A�� loose planning. THREE THINGS WILL DEFINE SUCCESSFUL PROJECT DELIVERY IN THIS REGION OVER THE NE�T DE�ADE� First� �� matter more than ever. The decisions �� 10� �� 90� �� its outcome. Getting into the ground �� the project. Second, integrated delivery capability will become a competitive �� project teams, designer here, cost consultant there, PM somewhere in the middle, is giving way to a �� operate as a single, aligned unit. Not just contractually, but culturally. The �� and the right hand were pointing in �� Third, pressure is a permanent condition, not a temporary one. We spent years treating disruption as an anomaly, something to survive until things returned to normal. We have to accept that this is the new normal. The teams thriving now have WWW.BUSINESSTODAY.ME 19

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REAL ESTATE BY FARIS AL KHATTAB A bu Dhabi, which was once viewed as a secondary �� A�� 2025� �� THE NUMBERS BEHIND INVESTOR CONFIDENCE A� � �� A�� 6 �� 20�0� �� A�� 55� �� 2 2025� �� 2025 �� 6 �� 50� �� 202�� WHY ABU DHABI REAL ESTATE IS BUILT TO LAST Scale, regulatory clarity and sustained investor demand are positioning Abu Dhabi as one of the region’s most compelling long-term real estate markets. 20 BUSINESS TODAY MIDDLE EAST | JULY 2026

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Faris Al Khattab is Managing Director at Object 1 Abu Dhabi, which has an active �� A� �� A� REEM IS�AND� AB� DHABI’S INVESTMENT ANCHOR �� A� �� A�� A�� A� �� A�� 119�000 �� A�� 2025� �� The district continues to attract �� A�� 1 �� 2 �� A�� 5 �� A� �� A�� REGULATORY CLARITY AND INSTITUTIONAL CONFIDENCE �� continue to differentiate the emirate �� A�� M�� A� �� STEADY GROWTH BUILT FOR THE LONG TERM �� A�� investors, end users, and residents �� A�� : �� 2025 �� 5� �� 0 �� 50 �� A�� WHAT INVESTORS AND BUYERS WANT TODAY �� continue to attract attention, �� A�� 69�� M�� WWW.BUSINESSTODAY.ME 21

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OPINION P rofessional services are becoming an increasingly important part of Gulf economies. As the UAE continues to expand its role as a centre for finance, healthcare, education and business services, an important challenge sits at the heart of these sectors: they are often �� evaluate. Much of our understanding of markets is shaped by tangible products. When buying a car or a smartphone, consumers can compare features, inspect quality and make reasonably informed judgements before making a purchase. Professional services, however, are different. Both individual consumers and organisations investing in professional services face three unique challenges when trying to decide which services to trust and ultimately consume. First, cognitive intangibility. Professional services are not only physically intangible; they are often mentally intangible too. Most consumers find it difficult, if not impossible, to evaluate the quality of a medical treatment, an investment product, or legal advice given the complexity involved. As a result, consumers rely on surrogate indicators, or signals, to help them decide. They focus on qualifications, reputation, rankings, reviews and recommendations. These signals may be useful, but they often tell us more about how a service is delivered than about the quality of the expertise itself. Second, both individual and corporate consumers face the time horizon between purchase and outcome. �� not become clear for decades. The �� may only emerge years later. By the time consumers know whether a decision was the right one, it may be too late to revisit it. This makes the prospect of selecting a service �� PROFESSIONAL SERVICES IN THE AGE OF THE INFORMED CLIENT �rtificial intelligence is narrowing the information gap that has long �efine� professional ser�ices. �or the �� where �oth sectors are strategic priorities� the implications r�n �eeper than efficiency. even when ample information is available to help customers decide. Third, consumers are often intimately involved and inseparable from the production of the service itself. Healthcare depends not only on the expertise of the clinician but also on the ability of the patient to communicate symptoms, engage with treatment and follow advice. Education depends not only on the institution but also on the commitment of the student. In many professional services, the consumer is not simply the recipient of the service but part of the process through which outcomes are created. CO-AUTHORED BY PROFESSOR ANGUS LAING AND DR FLORIAN MEIER Professor Angus Laing, Executive Dean, Edinburgh Business School and School of Social Sciences at Heriot- Watt University 22 BUSINESS TODAY MIDDLE EAST | JULY 2026

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This means that two people can receive broadly the same service and experience very different outcomes. Taken together, these three characteristics of professional services selection create significant challenges for consumers seeking to choose between providers and evaluate quality. They also help explain why satisfaction can be a poor proxy for quality. Someone with modest expectations may be delighted by an average service. Someone with very high expectations may be disappointed despite receiving technically excellent professional advice. Faced with these challenges, consumers naturally seek additional sources of information. They rely on recommendations from friends and colleagues, online reviews, discussion forums, rankings and league tables. These mechanisms help reduce uncertainty, but they are imperfect. Most focus on process rather than outcomes, and many rely on the experiences of other consumers who may themselves lack the expertise needed to judge quality. Even more formal sources of information can create unintended consequences. Rankings and performance measures are designed to help consumers make better decisions, yet they can sometimes encourage organisations to optimise for the metric rather than the outcome. Informing consumers and improving services are not always the same thing. Historically, this challenge has been compounded by information asymmetry. Professionals have had access to specialist knowledge that was unavailable to �� A�� intelligence may accelerate it dramatically. Much of the current discussion about AI focuses on how it might improve the delivery of professional services. Law �� A� �� A�� are automating routine tasks. Healthcare providers are exploring AI-assisted diagnosis and treatment planning. These developments are important and will undoubtedly �� A� �� it does for consumers. A patient receiving a diagnosis can already access information once reserved for medical professionals. A prospective student can compare institutions across multiple measures. A client considering financial products can increasingly use AI tools to analyse alternatives, interpret technical information and identify questions they should ask professional advisers. AI therefore has the potential to reduce the information gap that has historically characterised professional services. Yet informational empowerment is a double-edged sword. Better access to information can help consumers make more informed decisions, but it can also create confusion, uncertainty and greater purchase anxiety. More information does not always lead to better decisions, and this concept of empowerment is not always distributed evenly. �� may feel increasingly overwhelmed. There may also be consequences for professional service providers themselves. A� �� greater scrutiny of pricing, value, and professional authority. In some sectors, these changes are already visible, �� A�� to question traditional charging models. For countries such as the UAE, where both professional �� Much of the debate surrounding AI focuses on how it will change professional services. The more interesting question may be whether it changes the relationship between professionals and those they serve. If professional services have traditionally been built upon expertise that consumers struggle to evaluate, what happens when consumers become far better informed? The answer may shape the future of professional services as much as AI itself. Dr Florian Meier, Head of Department for Accountancy, Economics and Finance at Heriot-Watt University Dubai WWW.BUSINESSTODAY.ME 23

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DIGITAL FINANCE Roberto Mancone, CEO, du Pay 24 BUSINESS TODAY MIDDLE EAST | JULY 2026

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T ELECOM COMPANIES LAUNCHING FINANCIAL PRODUCTS IS NOT NEW, BUT MOST HAVE STRUGGLED TO BE TAKEN SERIOUSLY AS FINTECH PLAYERS. WHAT MAKES DU PAY DIFFERENT — OR IS THAT SCEPTICISM STILL SOMETHING YOU HAVE TO OVERCOME? du Pay was never conceived as an add-on to a telecom �� services platform, licensed by the Central Bank of the UAE, with the same compliance, risk, and operational �� governance, not branding. �� product lets them down. We have to earn it. For du Pay, �� and the E-Payment Solution of the Year accolade at the 2025 Entrepreneur Leaders in E-Business Award was a �� 1.4 million unique downloads and processed over AED 4 billion in transactions. Those are real people using the platform for remittances, everyday payments, and digital salary deposits. When people trust you with their money and keep coming back, that is the real answer. ROBERTO MANCONE ON WHAT DU PAY BECOMES NEXT Newly appointed as CEO of du Pay, Roberto Mancone is pushing the platform well �� at the centre of his mandate. BY AYA ZHANG WWW.BUSINESSTODAY.ME 25

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EVERY BANK, FINTECH AND SUPER-APP IN THE UAE WANTS A SHARE OF THE DIGITAL WALLET. IN A MARKET THIS SATURATED, WHAT IS THE ACTUAL UNMET NEED THAT DU PAY EXISTS TO SOLVE? The UAE is one of the largest sources of remittances in the world. For business leaders and investors, the �� here represents substantial transaction volume, significant �� demand for credit and insurance. This is a huge market with commercial depth. This is not a saturated market; it is an under-penetrated financial inclusion market with deep commercial potential across payments, remittances, credit, and insurance. That is where du Pay is focused, and it is a commercially serious position to be in. There are residents in the UAE who run into real obstacles with documentation requirements, minimum balance thresholds while approaching traditional banking �� population, and a large proportion of them are low to middle income workers sending money home every month. For those people, that friction has a genuine human cost. du Pay was built to remove those barriers. We offer zero-balance digital wallets with free IBANs and international remittances to over 200 countries. In 2025, we launched “Salary in the Digital Wallet,” enabling direct digital salary disbursement for workers without a traditional bank account. That product alone illustrates the gap we are closing: �� CONNECTIVITY. HOW MUCH �� COMES FROM THAT EXISTING CUSTOMER RELATIONSHIP, AND HOW MUCH DO YOU HAVE TO BUILD FROM SCRATCH AS IF YOU WERE ANY OTHER FINTECH STARTUP? du serves millions of customers across the country and that familiarity and customer trust in the brand is a real advantage. But everything �� had to be built from scratch. du Pay �� standards from the ground up, and that distinction shows in the product. The regulatory infrastructure, the compliance framework, the fraud and risk systems, the customer support �� problem under pressure. We have to remember that in �� transaction at a time. Every time a remittance arrives or a complaint gets resolved is how you earn the right to �� the honest answer is this: we use the du relationship as a starting point and a trust signal, and yes it also gives us the reach, but we run the business with a focus on product and customer �� CASH IS STILL DEEPLY EMBEDDED IN PARTS OF THE UAE ECONOMY, PARTICULARLY AMONG CERTAIN EXPATRIATE AND LABOUR POPULATIONS. �� OPPORTUNITY, AND WHAT WOULD IT TAKE TO ACTUALLY SHIFT THAT BEHAVIOUR? �� opportunities in the UAE right now. A large share of the workforce here WE USE THE DU RELATIONSHIP AS A STARTING POINT AND A TRUST SIGNAL, AND YES IT ALSO GIVES US THE REACH, BUT WE RUN THE BUSINESS WITH A FOCUS ON PRODUCT AND CUSTOMER EXPERIENCE. DIGITAL FINANCE 26 BUSINESS TODAY MIDDLE EAST | JULY 2026

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still relies heavily on cash for daily transactions. The Central Bank of �� clear national commitment to changing that, and du Pay is positioned to contribute directly to it. That means building something easy to use for everyone, whether it is someone who arrived in this country recently or who may be managing �� for a complicated process. “Salary in the Digital Wallet” is �� happens in practice. When your salary lands digitally and you can handle your remittances, bill payments, and top-ups from the same place, the habit starts to form. The key is making the �� people give it a real chance. Once they do, the product does the rest. AI IS BEING USED ACROSS FINTECH FOR FRAUD DETECTION, CREDIT SCORING AND PERSONALISATION, BUT IT IS ALSO RAISING NEW RISKS AROUND DATA AND TRUST. WHERE IS DU PAY LEANING IN ON AI, AND WHERE ARE YOU BEING DELIBERATELY CAUTIOUS? Data trust is not negotiable. Our �� information with us and that is a serious responsibility. I have seen what happens when new technology gets deployed without enough thought about the consequences. So we are deliberate here. The big opportunity for AI is in credit and risk scoring, which we will activate as we launch our lending products. AI can help us build more accurate and more inclusive models, especially for customers who are invisible to traditional scoring. It also �� detection and real-time monitoring that strengthen customer safety. At du, every model goes through rigorous testing, human oversight, and full compliance with Central Bank �� life, and we take that seriously. For us, AI is not about speed; it is about trust. And trust is the real currency in �� IF YOU LOOK AT THE DIGITAL WALLETS THAT HAVE FAILED TO GAIN TRACTION IN THIS REGION, WHAT DO YOU THINK THEY GOT WRONG, AND HOW IS DU PAY AVOIDING THE SAME MISTAKES? Too many platforms have been launched with an impressive feature list designed to generate THIS IS NOT A SATURATED MARKET; IT IS AN UNDER- PENETRATED FINANCIAL INCLUSION MARKET WITH DEEP COMMERCIAL POTENTIAL ACROSS PAYMENTS, REMITTANCES, CREDIT, AND INSURANCE. WWW.BUSINESSTODAY.ME 27

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attention rather than solve a genuine �� Developers also underestimate how �� People do not recommend their wallet the same way they share a video on a social media platform. They make their decision based on �� time. Patience and consistency matter here more than a campaign. Also, it is important not to mistake downloads for engagement. Acquisition is not retention. If users �� its place. At du Pay, we started with a clear customer in mind, the resident who needs a reliable and �� there. Surpassing 1.4 million unique downloads while processing over AED 4 billion in transactions tells me the product is working. Both numbers moving together is the real measure. FIVE YEARS FROM NOW, WHAT DOES IT LOOK LIKE IF DU PAY HAS GENUINELY SUCCEEDED — NOT JUST IN TERMS OF USER NUMBERS, BUT IN TERMS OF CHANGING HOW PEOPLE IN THE UAE ACTUALLY USE MONEY DAY TO DAY? �� towards is straightforward: every person living and working in the UAE has access to financial tools that are reliable and built for their needs. Someone who has arrived in the �� a traditional bank account should still receive their salary digitally, pay their bills, send money home to family, and eventually access credit and insurance. On the product side, we are building �� payments into lending, insurance, and investment, building the kind of comprehensive digital financial ecosystem where a traditional bank account is no longer a prerequisite �� This is in line with the financial inclusion objectives of the country and its cities. du Pay strives to be a direct contributor to that agenda. The addressable market is significant: millions of residents, substantial transaction volumes, and a clear path into credit and insurance. The measure of success will be whether we have �� living and working here. That is what I want du Pay to be known for. IN FINTECH, CREDIBILITY IS EARNED THROUGH GOVERNANCE, NOT BRANDING. DIGITAL FINANCE 28 BUSINESS TODAY MIDDLE EAST | JULY 2026

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LEADERSHIP WHY EXECUTIVE ACCESS CHOSE ABU DHABI OVER DUBAI FOR ITS FIRST MOVE OUTSIDE INDIA Agamjeet Dang, CEO, Executive Access 30 BUSINESS TODAY MIDDLE EAST | JULY 2026

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E XECUTIVE ACCESS HAS SPENT 31 YEARS BUILDING ITS REPUTATION IN INDIA. WHAT MADE THE MIDDLE EAST THE RIGHT MARKET FOR YOUR FIRST MOVE OUTSIDE IT, AND WHY NOW? Executive Access started out as the �� A�� 1995� �� decades we have grown into one �� on relationships, discretion and a genuine understanding of leadership rather than transactional search. �� India. So, when we did decide to �� The GCC is one of the few �� diversification agendas anywhere � �� A�� energy transition, healthcare and �� that is precisely the conversation we �� CEOs for three decades. �� closely India and the GCC are now �� A�� 1 �� YOU CHOSE ADGM AS YOUR BASE RATHER THAN DUBAI, WHICH IS THE MORE OBVIOUS ENTRY POINT FOR MOST FIRMS. WHAT DOES THAT DECISION SAY ABOUT THE KIND OF BUSINESS YOU ARE BUILDING HERE? �� A��M �� seriously. �� ourselves in ADGM places us at the �� A�� A��M �� fter �� years ��il�ing one of �n�ia�s most respecte� lea�ership a��isory firms� �xec�ti�e �ccess is expan�ing into the �� an� the choice of �� o�er ��ai says e�erything about the kind of business it intends to build. THE GCC IS ONE OF THE FEW PLACES IN THE WORLD WHERE THE AMBITION MATCHES THE PACE OF CHANGE. BY AYA ZHANG WWW.BUSINESSTODAY.ME 31

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�� : �� depth over scale. YOU HAVE FLAGGED AI-READY LEADERSHIP AS A PRIORITY DEMAND ACROSS THE GCC. WHAT ARE BOARDS AND CEOS ACTUALLY ASKING FOR WHEN THEY USE THAT LANGUAGE, AND HOW DOES IT CHANGE THE SEARCH BRIEF? It is a phrase that gets used loosely, �� A�� leaders who understand what AI �� change. WE BUILT OUR REPUTATION DELIBERATELY, ON RELATIONSHIPS, DISCRETION AND A GENUINE UNDERSTANDING OF LEADERSHIP RATHER THAN TRANSACTIONAL SEARCH. LEADERSHIP �� A �� A�� A�� and change leadership than we once did, alongside the conventional �� replace. 32 BUSINESS TODAY MIDDLE EAST | JULY 2026

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THE INDIA-UAE BUSINESS CORRIDOR IS DEEPENING AT PACE. IS THAT A SPECIFIC STRATEGIC FOCUS FOR EA MENA, OR IS THE AMBITION BROADER THAN THAT RELATIONSHIP? �� A� �� relationships of the next decade, and we are unusually well placed to serve �� A�� the heart of what EA MENA offers. �� strengthen India and connect it to the �� : �� A�� genuine, distinctive strengths across �� specialist. �� A� �� is not the ceiling. YOU ARE ENTERING A MARKET WITH ESTABLISHED PLAYERS AND STRONG LOCAL NETWORKS. WHAT IS THE HONEST CASE FOR WHY A COMPANY HERE SHOULD CHOOSE EXECUTIVE ACCESS OVER A FIRM THAT HAS BEEN OPERATING IN THIS REGION FOR YEARS? �� we are new to the region, whereas the reality is that Executive Access �� highly experienced executive search �� A�� A M��A� �� M�� A M��A�� with deep roots across the Middle �� than four decades of executive search experience in the region. Alister has spent the last eight years advising clients across the �� M�� while Kirti has spent the last fourteen years in executive search across the M�� Clients are therefore not choosing �� Executive Access; they are gaining �� focused on delivering exceptional �� WWW.BUSINESSTODAY.ME 33

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OPERATIONS WHY AI IS A CO-PILOT, NOT AN AUTOPILOT According to Simon Ulmann, Vice President Operations & Supply Chain, IMEA, at Henkel Adhesive Technologies, the future belongs to organisations that combine digital innovation with operational resilience, sustainability and a skilled workforce. BY REEBA ASGHAR 34 BUSINESS TODAY MIDDLE EAST | JULY 2026

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T HERE IS A GREAT DEAL OF EXCITEMENT AROUND AI, BUT WHERE DO YOU BELIEVE AI IS CREATING THE MOST TANGIBLE VALUE IN MANUFACTURING AND SUPPLY CHAINS TODAY, AND WHERE IS THE INDUSTRY STILL OVERESTIMATING ITS IMPACT? AI is undoubtedly transformative, but it is important to separate reality from hype. Today, the most tangible value it delivers in manufacturing and supply chains lies in predictive capabilities, safety and complexity management. We are seeing measurable returns in demand forecasting, where machine learning algorithms analyse historical data, market trends and external variables to predict demand �� traditional models struggle to achieve. �� A�� systems are enhancing workplace safety, while predictive maintenance is helping to prevent costly downtime by identifying equipment issues before they escalate into failures. Where the industry tends to overestimate AI is in the notion of fully �� distance from reality. AI is exceptionally good at processing vast datasets and recommending actions, but it cannot replicate human judgement, empathy or the ability to navigate complex supplier relationships during periods of disruption. I often describe AI as a powerful �� focus is on augmented intelligence – equipping supply chain professionals with better insights so they can make faster, smarter and more informed decisions. IF WE WALKED INTO A HENKEL MANUFACTURING FACILITY IN 2035, WHAT WOULD LOOK FUNDAMENTALLY DIFFERENT COMPARED TO TODAY IN TERMS OF AUTOMATION, WORKFORCE ROLES, AND DECISION-MAKING? The most striking difference would be the seamless connectivity across the entire manufacturing ecosystem and the natural collaboration between advanced robotics and human talent. Our vision for 2035 is centred on operations that are inherently safe, agile, efficient and sustainable. We see our facilities becoming �� combining advanced automation �� leveraging scalable technologies that can be adopted across the wider manufacturing sector. In this environment, technology becomes a key driver of operational resilience. Planning and execution will be supported by integrated, �� respond rapidly to changing market conditions while maintaining a strong commitment to sustainability. The future factory will not simply be more automated; it will be more intelligent, connected and adaptable. TRANSFORMATION IS ULTIMATELY A HUMAN ENDEAVOUR ENABLED BY DIGITAL TOOLS. WWW.BUSINESSTODAY.ME 35

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EFFICIENCY PAYS THE BILLS, BUT RESILIENCE KEEPS THE BUSINESS MOVING. HOW DO YOU BALANCE RESILIENCE WITH EFFICIENCY WHEN BOTH CAN SOMETIMES PULL ORGANISATIONS IN DIFFERENT DIRECTIONS? �� chain challenge of our time. For �� designed to eliminate waste and maximise productivity. More recently, global disruptions prompted a sharp �� leading organisations to build �� working capital. Neither extreme offers � �� The answer lies in what we call “smart resilience”. It is not about holding more inventory everywhere; it is about positioning the right inventory in the right locations based on a clear understanding of risk exposure. At Henkel, we use digital twin technology to model our supply chain network and simulate disruption scenarios in seconds. This allows us to identify �� strategies before risks materialise. We also balance resilience and �� regionalisation. By operating on an “in the region, for the region” approach wherever possible, we reduce lead times, minimise exposure to global shipping disruptions and lower transportation costs. Ultimately, resilience is rooted in �� visibility across their supplier networks can operate leaner because they have the ability to respond before disruptions reach their operations. �� keeps the business moving. The two must work hand in hand. WHAT DISTINGUISHES COMPANIES THAT SUCCESSFULLY TRANSFORM FROM THOSE THAT MERELY DIGITISE EXISTING PROCESSES? The distinction is critical. Digitisation often means taking an existing process and moving it onto a screen. If a manual approval workflow is transferred from a paper form to a digital platform, the process may be �� remains unchanged. True transformation requires organisations to challenge the operating model itself. It begins by asking, “Why do we do it this way?” rather than “How can we digitise this?.”Transformational organisations use technology to eliminate unnecessary steps altogether. For �� automatically trigger replenishment orders without the need for manual Simon Ulmann, Vice President Operations & Supply �� A�� Technologies IMEA OPERATIONS 36 BUSINESS TODAY MIDDLE EAST | JULY 2026

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intervention, fundamentally redesigning the process rather than simply digitising it. The greatest differentiator, however, is culture. Organisations can invest in the most advanced technologies available, but if employees do not trust the data or feel empowered to act on it, those investments will fail to deliver their full value. The most successful transformations invest as heavily in change management, upskilling and organisational culture as they do in technology itself. Transformation is ultimately a human endeavour enabled by digital tools. DO YOU SEE SUSTAINABILITY BECOMING A GENUINE SOURCE OF COMPETITIVE ADVANTAGE IN MANUFACTURING AND SUPPLY CHAINS, OR IS IT INCREASINGLY BECOMING A BASELINE EXPECTATION FOR DOING BUSINESS? At present, it is both, although the direction of travel is clear: sustainability is rapidly becoming a baseline expectation. Regulators, customers and business partners increasingly expect organisations to demonstrate measurable progress on sustainability. In the near future, companies that cannot provide transparency around carbon footprints, ethical sourcing and environmental performance may �� procurement processes. Sustainability is becoming a licence to operate. At the same time, the way organisations pursue sustainability can create significant competitive advantages. Sustainability and �� efficient manufacturing, renewable energy and water recycling not only �� term operating costs and provide greater protection against energy market volatility. Within adhesive technologies, sustainability also creates opportunities for innovation. By developing solutions that support circularity and help customers achieve their own ESG objectives, sustainability moves beyond compliance and becomes a driver of commercial growth and customer value. WHAT ARE THE BIGGEST INVESTMENTS HENKEL IS MAKING TODAY TO ENSURE ITS OPERATIONS AND SUPPLY CHAIN REMAIN COMPETITIVE OVER THE NEXT DECADE? As Henkel approaches its 150th anniversary, we recognise that �� focused investment. Our priorities are centred around three pillars: digital infrastructure, sustainable operations and people. �� backbone. This includes scaling Industry 4.0 applications, expanding �� A�� standardising data architecture across our global operations. Agility is impossible when critical data remains fragmented across different systems. The second pillar is sustainability. We are investing significantly in renewable electricity, advanced water and waste reduction technologies and site upgrades that support our journey towards carbon neutrality. We are already seeing the results �� in Kurkumbh, India, and Gebkim, �� production through the adoption of �� transition to 100 per cent renewable electricity, eliminating direct fossil fuel use and reducing Scope 1 and Scope 2 emissions to zero. Most importantly, we continue to invest in people. The factory of the future demands new capabilities, and we are equipping our operators, engineers and supply chain professionals with the skills needed to thrive in an increasingly automated �� Technology evolves rapidly, but an adaptable workforce remains the most �� ACROSS INDIA, THE MIDDLE EAST AND AFRICA, WHERE DO YOU SEE THE MOST SIGNIFICANT OPPORTUNITIES FOR INDUSTRIAL GROWTH AND SUPPLY CHAIN INNOVATION IN THE COMING YEARS? �� M�A �� most dynamic growth engines, although the opportunities differ �� In the Middle East, rapid industrial localisation and investment in �� creating compelling opportunities. �� A�� 20�0 �� A�� 300bn are accelerating the transition towards advanced manufacturing and highly digitised logistics ecosystems. India offers opportunities on an �� manufacturing ambitions, combined with its strong digital capabilities and deep technology talent pool, make it an ideal environment for �� A�� operational innovation. In Africa, growth is being driven by a rapidly expanding and increasingly urbanised consumer base. The challenge lies in overcoming infrastructure constraints and improving distribution networks, �� innovation. Across all three regions, the common thread is clear: immense potential for transformative growth, �� development. WWW.BUSINESSTODAY.ME 37

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FINANCE E very business goes through slow periods. Macroeconomic conditions. Geopolitical tensions. A large client leaves. In the GCC, where we have become spoiled by positive momentum and an environment designed for businesses to thrive, a slowdown can feel like a failure. In my experience, it is part of the cycle, and how a business responds to it reveals far more than how it behaves when everything is working. Leadership and cultural values are tested when things are not going well. �� to react fast and visibly. Cut costs across the board. Chase any revenue available. Reassure everyone that nothing is wrong. Each of those instincts is understandable. A slowdown is precisely the moment � �� changes the response. EXPERIENCING A SLOWDOWN? KEY CONSIDERATIONS FROM A CFO When business slows, the instinct is to cut fast and chase revenue. That instinct is usually wrong. BY ZAID ABOOBAKER 38 BUSINESS TODAY MIDDLE EAST | JULY 2026

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DIAGNOSE BEFORE YOU REACT �� It is what is actually happening. A slowdown has a cause, and the right response depends on it. Is this cyclical or a temporary softening that will recover? Is it structural, a permanent shift in the market that demands a �� the result of decisions the business made and can therefore reverse? These three demand completely different responses. Cutting hard into a temporary dip can damage a business that would otherwise have recovered. Waiting out a structural shift can be fatal. The discipline is to diagnose before acting, and that �� PROTECT VISIBILITY ABOVE ALMOST EVERYTHING When conditions are uncertain, the single most valuable asset is a clear view of what is coming. Most businesses run on backward-looking reporting. The accounts arrive weeks after the month-end and describe what already happened. In a slowdown, that is far too slow. �� forecast that looks forward, updated �� under both realistic and pessimistic scenarios. This is where modern, technology-enabled finance earns its place. Reporting that used to take days can be delivered in hours, and a forecast becomes a living document �� cannot navigate a slowdown on numbers that only describe the past. DEFEND MARGIN, NOT JUST REVENUE Under pressure, the instinct is to protect the top line. Discount to keep clients. Take work at thin margins to keep the team busy. This feels like fighting for survival. Often it accelerates the decline because it exacerbates already challenging cash positions. Revenue that does not carry margin consumes cash and capacity while �� A �� job in a slowdown is to keep leadership focused on profitability and cash generation, not just the headline number. Sometimes the right decision is to let low-margin revenue go, even when the top line is already falling. That is a hard call, and one CFOs should be making. STAY CALM If costs do need to come down, the across-the-board cut is often done in a panicked way. �� Identify what is essential, what is discretionary, and what was never delivering a return even in good times. A slowdown is a useful moment to remove the last of those permanently. Precision protects the capacity you will need when conditions turn. KEEP ONE EYE ON THE OPPORTUNITY A downturn is not only about defence. When competitors retreat, talent becomes available, customers reassess their suppliers, and assets �� A business with visibility and cash discipline can invest counter-cyclically while others are struggling. The strongest businesses I have seen do not simply survive a slowdown. They use it to come out ahead. TALK TO YOUR STAKEHOLDERS EARLY Banks, investors and boards respond far better to a business that comes to them early with a clear, evidence- based plan than to one that goes �� an internal tool. It is what allows you to have a credible conversation with the people whose support you may need. A sophisticated lender or investor can always tell the difference between a management team in control and one hoping the problem passes. A slowdown exposes everything. Weak reporting, thin margins, undisciplined costs, and absent forecasting all become visible at the moment they matter most. Disciplined �� paramount importance during these periods. Zaid Aboobaker, Founder & CEO, CompassPoint Consulting WWW.BUSINESSTODAY.ME 39

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FINTECH BY AYA ZHANG BUILDING THE INFRASTRUCTURE BEHIND OMAN’S DI�ITA� �A�MENT REVOLUTION FOO Co-Founder and CEO Ghady Rayess and OMPAY CEO Sami Elloumi tell Business Today Middle East what it actually takes to build a digital payments ecosystem from the ground up and why Oman is further along than most people realise. 40 BUSINESS TODAY MIDDLE EAST | JULY 2026

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W hen Ghady Rayess launched FOO in 2009, banks in the region were still deeply traditional. Checking your balance or withdrawing cash meant visiting a physical branch. The idea of a fully digital financial services platform was not just ambitious — it was premature. “I launched FOO, one of �� the region dedicated to helping banks streamline their services and enhance customer satisfaction,” he says. What �� of building the kind of infrastructure that now quietly powers some of �� payment platforms. One of those platforms is OMPAY, the Oman-based digital wallet backed by Omantel and regulated by the Central Bank of Oman, for which FOO serves as the long-term technology partner. The partnership brings together two organisations with different vantage points on the same challenge: how to move a market from cash dependency to digital adoption at scale, quickly, and without losing the trust of the people it is meant to serve. For Sami Elloumi, CEO of OMPAY, the early signals from users have been more than encouraging. “What has been particularly encouraging is the way users are engaging with the platform beyond basic payments,” he says. “We are seeing growing interest in tools that help people manage their money more effectively, whether through card spending, transfers, budgeting features, or day-to-day financial tracking.” Perhaps most revealing, he adds, has been the WWW.BUSINESSTODAY.ME 41

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speed at which users have embraced �� services within a single platform. “Customers are looking for simplicity and control, and they increasingly value solutions that bring payments, transfers and money management together in one seamless experience.” The numbers behind that appetite are significant. According to data from the Central Bank of Oman, digital payment transactions surged 150 per cent between 2024 and 2025 — a pace of growth that few markets in the region have matched. For FOO, serving as the technology backbone of a platform operating in that environment means getting the architecture right from the �� as mobile applications need to be able to seamlessly handle more users, transactions and data, to meet demand without experiencing a decline in performance or any deterioration in customer experience,” �� built on a modular platform using microservices — what Rayess FINTECH describes as a “plug and play” model �� has made international transfers a particularly critical part of the OMPAY proposition. But Elloumi is careful to frame the remittance opportunity more broadly than the obvious narrative. “While expatriate �� part of that demand, the need to move money across borders extends much further,” he says. “Many Omanis also rely on international transfers to support family members abroad, manage education expenses, fund travel, or meet personal commitments overseas.” What users want, he �� : �� that their money will arrive quickly, securely and at competitive rates. “Convenience matters just as much as cost. Customers appreciate being able to complete transfers directly from their mobile device, at any time, while maintaining visibility over their transaction journey.” Financial inclusion sits at the centre of �� Elloumi is direct about what it actually requires in practice. “Technology alone does not solve the challenge,” he says. “The solution must be built around trust, accessibility and relevance to everyday needs.” People do not adopt �� digital, he argues — they adopt them Sami Elloumi, OMPAY CEO 42 BUSINESS TODAY MIDDLE EAST | JULY 2026

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intelligence, enabling ID document validation and KYC compliance without manual intervention. “The solution provides a fast, secure, and �� protecting the business by preventing �� M�A� �� and corporate structure has shaped how the product is developed and how partnerships are approached. Being backed by Omantel and operating under Central Bank oversight, says Elloumi, provides a foundation that allows the company to move with �� reach and a deep understanding of the �� regulatory framework provides the trust, security and governance that are �� result, he says, is an ability to balance innovation with reliability — every new feature must deliver genuine customer value while maintaining the highest standards of security and compliance. “We view trust and innovation as complementary rather than competing priorities. Strong foundations allow us to move faster.” For FOO, defending its position in an increasingly competitive GCC �� combination of longevity, deep client relationships and a fully in-house build approach. “We control our roadmap and can respond to market shifts faster than platform-dependent competitors,” says Rayess. The client roster — which includes Al Maryah Bank, Benefit, Mastercard, Visa, Zain Group and MA� � �� sustained regional presence. What the FOO-OMPAY partnership ultimately illustrates is something �� infrastructure gets built in emerging markets: not through a single breakthrough product, but through the patient assembly of trust, technology and regulatory alignment over time. �� happen by accident. It was built, piece by piece, by organisations willing to do the unglamorous work of getting the foundations right. “Ultimately, trust, ease of use and relevance remain the factors that drive long-term adoption,” says Elloumi. It is a simple formula. Executing it consistently is the hard part. because they solve a real problem. “Whether that is managing spending, sending money internationally, making secure payments or helping young �� the value proposition must be clear and meaningful. Financial inclusion is therefore not a single initiative. It is the result of consistently designing products that meet people where they are.” On the technology side, the hardest problem to solve has been onboarding. “Requiring users to �� new account opening processes leads to lost business,” says Rayess. �� a fully automated digital onboarding framework powered by artificial Ghady Rayes, FOO Co-Founder and CEO WWW.BUSINESSTODAY.ME 43

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HOSPITALITY JULIA SCHAMNE: GREAT HOTELS DON’T IMPRESS; THEY MAKE YOU FEEL. As Cluster General Manager of Novotel and Adagio Premium Dubai Al Barsha, Julia Schamne has a clear philosophy: in a market obsessed with complexity, the hotels winning are the ones getting the basics right. BY AYA ZHANG T here is a quiet shift happening in the way guests experience hotels, and Julia Schamne, Cluster General Manager of Novotel and Adagio Premium Dubai Al Barsha, has a front-row seat to it. “What has changed most is that guests are no longer impressed by complexity,” she says. “They are impressed by simplicity done exceptionally well.” It is a deceptively straightforward observation, but one that carries significant operational weight. In �� hospitality markets, where properties compete on technology, design and experience at every price �� counter to the instinct to add more. �� necessarily searching for the most technologically advanced hotel. They are seeking a seamless, intuitive and problem-free experience. There is also a clear shift toward authenticity and meaning. “Guests want to feel something,” she says. “They want design that resonates, spaces that inspire, and experiences that connect.” Aesthetic value, once considered a differentiator, is now simply expected. Wellness, too, has evolved from being an add-on to becoming central to the stay, with a more holistic focus on balance, longevity and personal wellbeing. For Schamne, a great hotel experience in 2026 is about the flawless execution of meaningful indulgences — engineering a stay where the guest feels valued, not processed. At Novotel and Adagio Premium Dubai Al Barsha, that translates into what she describes as an end-to-end mindset. “We look at the entire guest journey from pre- arrival to post-departure and leverage every CRM touchpoint available to personalise that journey. It is not Julia Schamne, Cluster General Manager of Novotel and Adagio Premium Dubai Al Barsha 44 BUSINESS TODAY MIDDLE EAST | JULY 2026

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just about recognition; it is about relevance.” Operationally, this means strong preparation, consistent execution and a culture of innovation. Every interaction, she says, should feel considered and intentional. A�� begins with people. “Selecting the right teams is where it starts — people who naturally care and understand the value of detail.” From there, it is about empowerment. She encourages her teams to create what she calls an “emotional spike” — those small but powerful interactions that guests genuinely remember long after checkout. “By combining human intuition with the data we have available, and real-time access to the guest, we are able to shape experiences that feel personal, relevant and emotionally engaging rather than designed or scripted.” Running two distinct hospitality concepts under one roof demands a particular kind of operational discipline. �� never about one big idea. “It is about consistently doing many small things exceptionally well. In a market like Dubai, guests notice the details. It is about precision in execution, attention to the basics, and then elevating the experience with one or two standout peak moments that leave a lasting impression.” Staying relevant in a market that moves as quickly as Dubai also requires a willingness to evolve. Schamne speaks about the importance of continuously learning, unlearning and relearning, and of surrounding yourself with passionate, curious people who are willing to do the same. That philosophy extends to how she thinks about culture. “I believe in hiring people who are often more knowledgeable than me in their respective fields and then giving them the space to excel,” she says. “Empowerment is critical. My role as a General Manager is to remove obstacles, not create them — to clear the path so the team can perform at their best.” When teams feel trusted and supported, she adds, they naturally deliver more personalised, thoughtful and exceptional experiences. Social media, rather than being a source of pressure, has become a tool for innovation. Schamne sees it as an opportunity to tap into global trends and reinterpret them for the local market. “It allows us to bring global experiences into our hotels and create moments that are not only memorable in person but also shareable.” At the same time, she is clear that the experience must deliver substance beyond aesthetic appeal. “It has to be meaningful beyond the camera.” Looking ahead, Schamne sees the biggest opportunity in deepening personalisation and strengthening �� destination. This includes further investment in technology and data to better understand guests and tailor experiences in a more intuitive way. “The goal is to anticipate needs, not just respond to them.” Food and beverage also represents significant potential. By refining concepts and elevating the experience, the aim is to position the property as a destination for the local community, not just hotel guests. “Ultimately, the focus is on creating a property that feels dynamic, relevant, and deeply connected to both our guests and the neighbourhood,” she says. In a market that never stops competing, that might be the most ambitious goal of all. WWW.BUSINESSTODAY.ME 45

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EVENT O n the morning of 24 June, with extra chairs being brought into a room that was already full, Business Today Middle East held its Power �� was the New Wealth Playbook: a conversation about how wealth is being created, preserved and deployed in the UAE today, and what the next �� The panel brought together Riz Ahmed, Chief �� A�� M�� and Shaher Mousli, Chairman of Gulf Land �� M�� A�� What followed was an hour of unusually frank conversation, about market data that cannot be trusted, about where smart money is actually going, and about what wealth means when you �� THE NEW WEALTH PLAYBOOK THE POWER BREAKFAST: At Business Today Middle East’s Power Breakfast, three of Dubai’s most candid voices in real estate and investment gathered at �ofitel �he �alm to tal� a�o�t what the market is actually doing, where smart money is going, and what wealth really means. 46 BUSINESS TODAY MIDDLE EAST | JULY 2026

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READ THE DATA CAREFULLY. VERY CAREFULLY. �� A�� room to understand was that most of what they had been reading about �� misleading — not because of bad intentions, but because of how real �� “Be very, very careful with the �� “Transactions are still going, billions and billions of transactions are happening — but they were transactions that were signed before �� 60�� M�� months, there were all these headlines �� A�� A�� received a call from a friend of a friend who had panicked at the start of the �� A�� 6�5 �� A�� A�� at comparable sales in the months �� A�� Then there were the brokers who �� 25 �� And there were the news articles �� M �� which tracks listed developers and �� “I think we have to be very, very �� A�� His most memorable line came when he described a conversation he used to have with friends before �� privately: if a bomb went off, then �� WHERE WOULD YOU ACTUALLY PUT YOUR OWN MONEY? When asked the most personal question of the morning — where they would invest their own money in this market today — all three panellists converged on the same unexpected ��: �� A�� great opportunity still in the renovation �� Azhar Sajan� �� M�� Shaher Mousli, Chairman, Gulf Land �� Riz Ahmed� �� SCAN TO WATCH WWW.BUSINESSTODAY.ME 47

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�� He gave a concrete example: SmartCrowd bought a property in �� A�� 12 �� A�� renovation and fees, and sold it for A�� 19�5 �� A�� 21 million they had originally targeted, �� A�� dimension the room had not �� A� �� premium building materials business, he is watching the renovation market �� continuously going to be building properties, but what about the old ones? They have to be refurbished �� not stopped ringing — including from developers who had never worked �� M�� Mousli went even further, describing a new category of developer that is emerging: buyers who acquire entire buildings in prime locations — Business Bay, for example — renovate them completely, brand them in some cases with a hospitality �� A�� 500 �� He also shared an anecdote about a developer he had come across who was buying out individual apartment owners in a building he had targeted �� M�� asked what he planned to do with the residents who refused to sell, �� : upgrade their apartments and share �� THE MARKET HAS CHANGED. MOST �EO��E HA�EN’T NOTICED. M�� to the morning was his argument �� undergone a structural shift that most �� They are buying because they intend to live here — families relocating from Europe, from Asia, from across the region, looking for schools nearby, �� EVENT 48 BUSINESS TODAY MIDDLE EAST | JULY 2026

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segment is increasing and is going to �� His advice to anyone investing in property was unambiguous: stop looking for the cheapest option and �� look always for the cheapest property �� A�� at the right property to buy, because sometimes the cheapest will not get you the return, especially on the �� reputable developer, family-oriented community, strong surrounding infrastructure — reflect a market where liveability now drives value �� A�� as tenants negotiate harder and landlords accept lower rates rather than leave properties empty over �� price because they remember the regret that came with discounting �� to see in quarter four where the real transactions are actually happening, �� WWW.BUSINESSTODAY.ME 49

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�� schools the day before the Power Breakfast and finding �� 50 �� “That again gives me a lot of �� WHAT WEALTH ACTUALLY MEANS The most unexpected exchange of the morning came from an audience question near the end of the session: in a broader sense, what is wealth? A�� answer was the most personal of anything he had shared that �� value to monetary wealth, except �� He described his time as CFO of GEMS Education and the question he used to ask himself: are we providing education to make money, or are we making money to provide education? “For me, the accumulation of wealth is actually what you can do to help others and �� generation of a family business, framed wealth as a question of �� generation creates it, second generation runs it, third generation �� accumulation but continuity — how to take what was built and make �� where do you see yourself in your �� M�� a landmark, give a legacy that will �� EVENT 50 BUSINESS TODAY MIDDLE EAST | JULY 2026

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52 BUSINESS TODAY MIDDLE EAST | JULY 2026 MEET THE 50 MOST INFLUENTIAL FIGURES SHAPING THE MIDDLE EAST’S TRAVEL AND TOURISM LANDSCAPE H O S P I T A L I T Y 5050

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A decade ago, the conversation was largely about Dubai and Abu Dhabi. Today, it spans an entire region. Saudi Arabia is building destinations from the ground up, investing hundreds of billions into tourism infrastructure, and welcoming an entirely new generation of international visitors. Oman is positioning itself as a nature and culture destination with genuine global appeal. Qatar, energised by a decade of investment and the platform of the 2022 World Cup, is deepening its hospitality credentials. Bahrain and Ras Al Khaimah are carving out distinct identities in a market that rewards differentiation. �� Dubai welcomed nearly 20 million international visitors in 2025, its third consecutive record year. Saudi Arabia is targeting 150 million visitors annually and has set itself a timeline that would have seemed impossible not long ago. Aviation capacity across the region is expanding at pace, with new carriers, new routes and new airports reshaping how the world connects to and through the Middle East. But behind every record and every announcement is a person making decisions, building teams, managing risk and turning vision into something real. The Business Today Hospitality 50 is about those people. This list spans five categories: Destination Makers and Tourism Visionaries, Hospitality Owners, Investors and Developers, Global Hotel Group Leaders, Aviation and Travel Connectivity, and Experiences and Events. Together, they represent the full ecosystem of an industry that is no longer just growing but genuinely transforming. These are the 50 people at the centre of it. WWW.BUSINESSTODAY.ME 53

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H.E. ABDULLA BIN TOUQ AL MARRI Minister of Economy and Tourism, UAE When the UAE merged its economy and tourism portfolios into a single ministry in June 2025, Abdulla bin Touq Al Marri was already holding the brief. Appointed Minister of Economy in 2020 under a restructured government, he has since become the federal face of the �A�� earlier this year, when he led the �� unequivocal in his assessment: “A �0�� future of the UAE economy.” He served as Secretary General of the UAE Cabinet from 2017, was CEO of the Dubai Future Foundation, and led the launch of Dubai 10X � �� a builder of long-term institutional frameworks. That background is visible in how he approaches tourism: as an economic lever and a policy tool, not just an industry. Al Marri chairs the General Civil Aviation Authority and the UAE International Investors Council and holds a degree in Civil Engineering �� DESTINATION MAKERS AND TOURISM VISIONARIES H.E. AHMED AL KHATEEB Minister of Tourism, Saudi Arabia �� how the world thinks about Saudi Arabia as a destination. As Minister of Tourism, Ahmed Al Khateeb has overseen a transformation that is as much structural as �� GDP has risen from 3.5 per cent in 2019 to 5 per cent currently, with a target of 10 per cent, while employment in tourism has surpassed one million jobs, up from around 750,000. The ambition is equally striking: GDP contribution from tourism is targeted to grow from SAR 300 billion to SAR 600 billion, with visitor numbers expected to reach 150 million. H.E. Ahmed Al Khateeb sits at the centre �� A�� chairing the Tourism Development Fund and the Saudi Tourism Authority, and serving on the boards of the Public Investment Fund, NEOM, and the Red �� founded Jadwa Investment Company, led the General Entertainment Authority during its transformative early years, and served as Minister of Health before taking on the tourism brief. That breadth of experience across sectors is visible in how he has approached the role: not as a promoter of a single destination, but as an architect of an entire visitor economy. H.E. KHALID JASIM AL MIDFA Chairman, Sharjah Commerce and Tourism Development Authority H.E. Khalid Jasim Al Midfa chairs one of the GCC's most culturally distinctive tourism authorities, overseeing Sharjah's positioning as a �� arts and family-oriented experiences. Under his leadership, the authority has pursued a digital transformation of its tourism services, launched �� model for hospitality buildings in the emirate, and established an annual hospitality sector forum bringing together regional and international stakeholders. He also launched Al Jawhara, an initiative developed in collaboration with the Nama Foundation to empower women in the tourism �� annual programme. Beyond SCTDA, H.E. Al Midfa chairs the Sharjah International Marine Sports Club, heads the Sharjah National Day Celebrations Committee, and sits on the Emirates Tourism Council. He holds a BA in Business Administration from the Higher Colleges of Technology. 54 BUSINESS TODAY MIDDLE EAST | JULY 2026

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MOHAMED ABDALLA AL ZAABI Group CEO, Miral Mohamed Abdalla Al Zaabi has led Miral since 2015, overseeing the �� visited entertainment destinations. �� 202�� million visits, a 38 per cent increase from 2022. That same year, visits to �� M�� on destination management in 2022 � �� Under his leadership, Miral has forged partnerships with Ferrari, SeaWorld and Warner Bros., �� A�� global leisure hub. Before Miral, Al Zaabi held senior roles at Aldar Properties. He holds an Executive MBA from INSEAD and an MSc in Strategic Project Planning from Heriot-Watt University, and �� AIMAN AL-MUDAIFER Member of the Board, Managing Director and CEO, NEOM Aiman Al-Mudaifer took the helm at NEOM bringing with him a career that spans both the public and private sectors, most recently as head of the Local Real Estate Investment Division at the Public Investment Fund since 2018. In that role, he �� A�� M� �� well as a portfolio of more than 50 investments across leisure, retail and entertainment. His board positions have included Chairman of King Abdullah Financial District and board membership at Diriyah Gate. Earlier in his career, he served as CEO of Shomoul Holding Company, founded Andalus Company, and began his professional journey as a Credit Consultant at the Saudi Industrial Development Fund. �� Systems Engineering from King Fahad University of Petroleum and Minerals. PHILLIPA HARRISON CEO, Ras Al Khaimah Tourism Development Authority Phillipa Harrison joined Ras Al Khaimah Tourism Development Authority with a clear brief: accelerate �� over 3.5 million visitors by 2030 and ensure the growth delivers long-term value for the region. She brings to the role a track record built at Tourism Australia, where as Managing Director she guided the organisation through � �� expanding its appeal across key international markets with an emphasis on indigenous, regional and experiential tourism. By 2024, Australia was welcoming 8.3 million �� strongest inbound performance in �� At RAKTDA, she is now applying that experience to one �� increasingly recognised for adventure, nature and a quieter �� established destinations. She holds a BA in Mass Communication and Psychology from Macquarie University and an MBA from the Australian Graduate School of Management at the University of New South Wales. WWW.BUSINESSTODAY.ME 55

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H.E. SALEH MOHAMED AL GEZIRY Director General for Tourism, Department of Culture and Tourism, Abu Dhabi A�� A�� sector in 2022, Saleh Mohamed Al �� A�� 15 �� across 25 countries. He previously served as Director General of Ajman Tourism Development Department. Before that, he spent over a decade �� and Commerce Marketing, rising to Director of Overseas Promotions. In Abu Dhabi, he has spearheaded initiatives including the USD 100 million Abu Dhabi Culinary Investment Fund announced in 2023. DESTINATION MAKERS AND TOURISM VISIONARIES JOHN PAGANO Group CEO, Red Sea Global John Pagano has led Red Sea Global since 2018, building the developer of The Red Sea and Amaala from the ground up. Both projects sit along the northwestern coast of Saudi Arabia and are central to the kingdom's Vision 2030 tourism ambitions. With nearly 40 years of experience delivering large-scale, multi-billion- dollar developments internationally, Pagano has positioned Red Sea Global around a regenerative tourism model � �� to biodiversity and address climate change rather than simply minimise environmental impact. Before RSG, he founded Old Fort Capital Investments, an international �� large-scale real estate developments. He holds a degree in Mechanical Engineering from the University of Toronto and studied Corporate Finance at London Business School. ISSAM KAZIM CEO, Dubai Corporation for Tourism and Commerce Marketing Since joining the Dubai Corporation for Tourism and Commerce Marketing in 2014, Issam Kazim has built the organisation into a team of more than 200 people operating across 40 international �� Dubai welcomed 19.59 million �� 2025 � its third consecutive record year � �� top destination in the Tripadvisor �� A�� third year running in 2024. �� beyond visitor numbers. He sees it as a gateway through which investment, talent and long-term �� thesis that informs how DCTCM engages more than 80 source markets globally. Earlier this year, Dubai introduced Dh2.5 billion in support measures for the hospitality sector, with Kazim emphasising the importance of close collaboration between the public and private sectors throughout the disruption. Before DCTCM, he served at Dubai World Trade Centre and holds positions on the Dubai International Communications Committee and the Dubai Media Council. 56 BUSINESS TODAY MIDDLE EAST | JULY 2026

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JERRY INZERILLO Group CEO, Diriyah Company ABEER AL AKEL CEO, Royal Commission for AlUla A�� A� A�� A�� transformation from the beginning. As a founding member of the Royal Commission for AlUla, she has spent six years leading and overseeing key strategic initiatives before taking on the �� A�� A�� development. She launched Winter at Tantora, establishing the destination on the global cultural calendar and achieving �� largest hot air balloon show and the largest mirrored building, Maraya. She led the rollout of the Journey Through Time masterplan, oversaw a global design competition for the Museum of Incense Road, and was instrumental in the Saudi-French intergovernmental �� A�� regeneration. Her network-building has been equally �� partnerships to include UNESCO, IUCN, Panthera and the World Bank. Before RCU, she worked at PwC leading transformation projects for the Saudi government. She holds a degree from King Saud University and is a graduate of Harvard Business School. CEO of Forbes Travel Guide and CEO of Morgans Hotel Group, accumulating �� recognised institutions. �� generations of bakers, he has described hospitality as bringing people together and making strangers feel at home. At Diriyah, that philosophy is being applied at a scale few in the industry have ever attempted. Jerry Inzerillo started as a busboy at 13. Decades later, he was appointed by HRH Crown Prince Mohammed bin Salman �� a UNESCO World Heritage Site and one of the most ambitious destination development projects in the world. The USD 50 billion development is �� A�� iconic lifestyle and tourism destination, with projections of 27 million annual visitors, 55,000 jobs and a SAR 27 �� GDP. Before Diriyah, Inzerillo served as WWW.BUSINESSTODAY.ME 57

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SULTAN AL-OTAIBI CEO, Taiba Investments Sultan Al-Otaibi became CEO of Taiba Investments in January 2024 following its merger with Dur Hospitality, where he had served as CEO since 2019. As of early 2026, Taiba manages a portfolio of more than 40 properties with over 8,000 hotel keys across seven Saudi cities. The group operates Saudi hospitality brands including Makarem Hotels, Nur by HOSPITALITY OWNERS, INVESTORS AND DEVELOPERS Makarem and Aqeeq Hotels, and holds partnerships with Hilton, IHG, Marriott International and Accor. Recent openings include Rixos Obhur Jeddah, the �� Arabia, and Makarem Burj Al M�� Mosque. The Sheraton Taiba Hotel in Madinah is among �� developments. Al-Otaibi sits on the Marriott EMEA Owner Advisory Distribution Council and the Tourism Committee at the Riyadh Chamber of Commerce. He holds an MBA in International Hospitality Management from the Emirates Academy of Hospitality Management �� Accounting from King Saud University. MARLOES KNIPPENBERG CEO, Kerten Hospitality Marloes Knippenberg has led Kerten Hospitality as CEO since 2015, growing the company to nearly 60 projects across multiple brands and countries. A former Hilton executive, she has built the group around a purpose-driven model that embeds ESG principles into its community-focused destinations. She serves on several industry boards and is recognised �� HISHAM TALAAT MOUSTAFA CEO and Managing Director, Talaat Moustafa Group Hisham Talaat Moustafa leads one �� hospitality and real estate groups, with a portfolio that includes Four Seasons Nile Plaza in Cairo, Four Seasons San Stefano in Alexandria, Four Seasons Sharm El Sheikh and Four Seasons New Cairo Capital at Madinaty. Since taking the helm at Talaat Moustafa Group in 2017, Moustafa has expanded operations across Egypt, Saudi Arabia and Oman, with a land bank exceeding 115 million square metres. In 2025, TMG reported $9.1 billion in total assets and $8 billion in �� most recent announcement, The Spine, is a $27 billion mixed-use city planned east of Cairo. 58 BUSINESS TODAY MIDDLE EAST | JULY 2026

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KHALIFA BIN BRAIK CEO, Majid Al Futtaim Asset Management Khalifa Bin Braik leads Majid Al Futtaim Asset Management, overseeing a portfolio of 29 shopping malls and seven hotels across the Middle East and North Africa. He began his career at Dubai Holding before joining Sharjah Holding, a joint venture between Majid Al Futtaim Properties and the Government of Sharjah. He moved to Majid Al Futtaim Properties in 2014, serving as a director in the Shopping Malls business unit and subsequently as Managing Director of the Hotels Business Unit, where he was responsible for the operating and �� hotel portfolio and its relationships with international hotel partners. �� M�� Financial Economics from Boston University and a BSc in Economics from Northeastern University. H.E. HESHAM AL QASSIM CEO, Wasl Group Hesham Al Qassim has led Wasl Group since its establishment in 2008, �� CHRISTOPH MARES CEO, Boutique Group Christoph Mares was appointed CEO of Boutique Group in January 2025, taking the helm as the company prepares to introduce its portfolio of iconic Saudi palaces to the �� 2026� Mares brings more than 25 years of luxury hospitality experience to the role, having �� M�� he spent the majority of his career, and as COO at Emaar Hospitality Group. �� sits at the intersection of heritage preservation and high-end tourism. and hospitality operators. The group today manages over 60,000 residential and commercial properties, more than 1,000 buildings and 5,500 land plots across Dubai. Its hospitality division operates more than 35 hotels and hotel apartments, while Jumeirah Golf Estates spans 4.68 million square metres. In October 2025, Wasl expanded beyond Dubai with the acquisition of a beachfront site at Marjan Beach in Ras Al Khaimah. Al Qassim also serves as Chairman of Türkiye- based DenizBank and Vice Chairman and Managing Director of Emirates NBD. ADEEB AHAMED Managing Director, Twenty14 Holdings Adeeb Ahamed founded Twenty14 Holdings in 2014 and has since led the company in acquiring more than $750 million worth of assets globally. As Managing Director, he oversees the strategic direction of the �� Directors. Before launching Twenty14 Holdings, he established Lulu International Exchange, a �� now operating more than 200 branches across 11 countries, and Tablez, a retail �� franchise concepts across the UAE and India. Earlier in his career, he held positions in the hospitality sector with Grosvenor House, JW Marriott and Baglioni Hotel in London. He holds a BBA from Les Roches, Switzerland and an MBA in International Management from Royal Holloway, University of London. WWW.BUSINESSTODAY.ME 59

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FAHAD ABDULLA AL MANA CEO, Katara Hospitality Fahad Abdulla Al Mana was appointed CEO of Katara Hospitality in July 2025, having served on its Board of Directors since 2019. He joins from the Qatar Investment Authority, where he has been a senior member of the Local Portfolio Department since 2010, focused on corporate HOSPITALITY OWNERS, INVESTORS AND DEVELOPERS governance and real estate investments. He also serves on the Board of Directors of Nebras Power since 2014. Katara Hospitality is a global hospitality asset owner and manager with over 50 years of industry experience, and a portfolio spanning four continents including Qatar, Egypt, Morocco, the UK, France, Italy, Spain, Switzerland, the Netherlands, Singapore, Thailand and the United States. The company owns and manages over 7,188 keys across its international portfolio and plays a central �� term economic vision. �� degree in Business Administration with a specialisation in Finance and Accounting from Qatar University. KABIR MULCHANDANI Chairman and CEO, FIVE Holdings Kabir Mulchandani has built FIVE Holdings into a global luxury and entertainment group with more than 1,700 keys across FIVE Palm Jumeirah, FIVE Jumeirah Village and FIVE LUXE JBR in Dubai, and FIVE Zurich in Switzerland. In 2023, he expanded into Europe through the acquisition of The Pacha Group for ¤302.5 million, adding Pacha Ibiza, Destino Five Ibiza Hotel and Pacha �� In 2025, FIVE Holdings reported hospitality revenues of AED 1.98 billion, a 20 per cent year-on-year increase, with hospitality EBITDA reaching AED 703 million. In 2022� �� hotel group in the UAE to operate entirely on renewable electricity, and its properties now hold over 1,500 LEED �� KHALID ANIB CEO, Abu Dhabi National Hotels Khalid Anib has led Abu Dhabi National Hotels as CEO since 2016, overseeing a portfolio that includes Park Hyatt Abu Dhabi Hotel and Villas, Le Meridien Abu �� Beach and JW Marriott Hotel Marina Dubai, among others. Founded in 1976, ADNH has evolved into an integrated hospitality group spanning hotels, restaurants, destination management and transport services. In 2025, the group reported a 21 per cent growth in revenues, with Abu Dhabi's hotels recording average occupancy of around 80 per cent. ADNH is expanding its footprint with a new mixed- use waterfront development on Al Marjan Island in Ras Al Khaimah, in partnership with Marriott International, featuring the Nasim Al Bahr Resort and Spa alongside branded residences. The group is also exploring opportunities in North Africa and Europe. Before joining ADNH, Anib led the Hospitality Division at Al Hokair Group in Saudi Arabia. He holds an MBA from the University of Strathclyde. 60 BUSINESS TODAY MIDDLE EAST | JULY 2026

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From 31 Aug - 3 Sept 2026 Riyadh Exhibition and Convention Center - Malham, Saudi Arabia INTO NEW WORLDS YOU’RE ONE LEAP AWAY SECURE YOUR PASS NOW

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GLOBAL HOTEL GROUP LEADERS SANDEEP WALIA COO, Middle East and Africa, Luxury EMEA, and Global Leader, Design Hotels, Marriott International Sandeep Walia oversees Marriott �� Middle East and Africa, including Türkiye, a portfolio spanning over 410 properties and nearly 90,000 rooms in operation, with more than 250 projects in the pipeline. He also leads the �� M�A� encompassing close to 200 hotels and residences across brands including The Ritz-Carlton, St. Regis, BVLGARI Hotels and Resorts, EDITION, The Luxury Collection, JW Marriott and W Hotels. In addition, he serves as Global Leader for Design Hotels. Walia joined Marriott International in 2005 and has held senior leadership roles across EMEA, including General Manager of The Ritz-Carlton Moscow and several Area Vice President roles in Europe and the Middle East. He holds an Executive MBA from the Kellogg School of Management at Northwestern �� from Harvard Business School, and is a graduate of the Oberoi Centre of Learning and Development. DUNCAN O’ROURKE �EO M�� E�� A�� A�� Accor �� than 30 years in the hospitality industry, holding executive positions across Europe, the United States and the Middle East. He began his career with Kempinski, serving as General Manager across multiple destinations from 2004 before being appointed �� the Management Board in 2008. He joined Accor in 2016 as COO Europe for the Luxury and Premium segment, later taking on responsibility for more than 470 hotels and 13 brands across Germany, Austria and Switzerland as COO Central Europe. In October 2020, he was appointed CEO Northern Europe, overseeing more than 1,100 hotels across 32 countries. In January 2023, he moved into his current role as CEO M�� A�� A�� A�� M�� and Economy division. He holds a degree from César Ritz Colleges in Switzerland and an MBA from Reims Management School. BANI HADDAD Founder and Co-CEO, Aleph Hospitality Bani Haddad founded Aleph Hospitality and has built it into the largest independent hotel management company in the Middle East and Africa. The company reached its goal of 50 operating hotels in 2025 and has since set a new target of 100 hotels by 2029, with more than 50 properties currently in operation and over 30 in the pipeline across 23 countries and 39 cities. Aleph manages hotels on behalf of owners across both internationally branded and independently branded properties, working with partners including Marriott, Hilton and Hyatt. 62 BUSINESS TODAY MIDDLE EAST | JULY 2026

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THOMAS B. MEIER CEO, Jumeirah �� M�� hospitality companies in the world. A graduate of the Ecole Hotelière de Lausanne, he began his career in general hotel management across Asia before rising to lead global operations �� Senior Vice President of Operations for Asia at Minor Hotels before joining Jumeirah. His remit spans business performance, acquisitions, owner relations and transformation across hotel operations, development and systems integration. GUY HUTCHINSON President, Middle East and Africa, Hilton Guy Hutchinson has served as �� M�� and Africa region since early 2024, �� portfolio across the region. Based �� EMEA Executive Committee. He returned to Hilton after nearly a decade, having previously served as CEO of Rotana. His earlier career at Hilton spanned 16 years across the Middle East, Europe, Japan, China, Australia and India. In Saudi Arabia alone, Hilton has more than 100 hotels trading and under development, representing a combined owner investment of more than $8 billion. WWW.BUSINESSTODAY.ME 63

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PHILIP BARNES CEO, Rotana Philip Barnes was appointed CEO of Rotana in March 2024, bringing more than 40 years of hospitality experience �� 25 �� holding senior leadership positions across Canada, the United Kingdom and the United States, including Regional Vice �� M�� A�� Fairmont Palm Dubai and Fairmont Bab Al �� A�� At Rotana, Barnes leads a portfolio of more than 100 properties across the Middle East, Africa, Eastern Europe �� A�� plans to operate 23 properties in the �� 202�� PHILIPPE ZUBER CEO, Kerzner International Philippe Zuber has led Kerzner International as CEO since joining the company in 2015, overseeing its portfolio of Atlantis Resorts and Residences and One&Only Resorts and Private Homes, and launching two new �� and Rare Finds, positioned around sustainability and discovery. Before Kerzner, Zuber served as COO of Emaar Hospitality from 2013, leading a team of nearly 5,000 and overseeing a portfolio of hotels, residences and dining outlets. In that role he played a part in developing Downtown Dubai as a destination and launched the Vida, Manzil and Rove hotel brands. He joined Emaar in 2011 as General Manager at The Address Downtown Dubai. His earlier career took him through Hyatt International across France, Spain, Germany and Morocco, rising to General Manager of Park Hyatt Seoul, �� M�� M�� a degree from EMH Strasbourg and is based in Dubai. GLOBAL HOTEL GROUP LEADERS 64 BUSINESS TODAY MIDDLE EAST | JULY 2026

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ADRIAN MESSERLI President, Hotel Operations EMEA, Four Seasons Adrian Messerli oversees Four Seasons hotel operations across Europe, the Middle East and Africa, a portfolio of more than 40 operating properties and 20 under development. Swiss-born and raised in a fourth-generation family hotel, he joined Four Seasons in 2005 and has since held leadership roles across the US, Caribbean, South America, Europe, the Middle East and Africa. His regional assignments have included Four Seasons Hotel Cairo at Nile Plaza, Four Seasons Resort Sharm El Sheikh and Four Seasons Hotel Madrid, where he served as Regional Vice President and General Manager before assuming his current EMEA remit. He holds a Bachelor of Science in International Hospitality from Ecole Hotelière de Lausanne and is based in Dubai. TIM CORDON COO, Middle East, Africa and South East Asia �� R�� H�� Tim Cordon has spent more than two decades with Radisson Hotel Group, currently serving as COO for the Middle �� A�� A�� since 2024. He oversees a regional portfolio of 168 operating hotels with 103 in the development pipeline, and more than 18,000 team members across over 35,000 keys. He joined Radisson in 2003 as General Manager in the UK, moved to Dubai in 2015 as Regional Director for the Middle East and Africa, and was appointed Area Senior Vice President for MEA in 2017 before taking on his current COO role. His remit expanded to include �� A�� region's strong growth performance. He holds a BSc in Mechanical Engineering from Nottingham Trent University and is based in Dubai. WWW.BUSINESSTODAY.ME 65

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PAUL GRIFFITHS CEO, Dubai Airports �� of Dubai Airports since 2007, overseeing Dubai International (DXB) and Dubai World Central � A� M�� Under his leadership, DXB welcomed 92.3 million guests in 202�� 65 years. His tenure has included the opening of Terminal 3 in 2008, �� second airport in 2010, the launch of Concourse A in 2013 � �� A��0 �� of Concourse D in 2016. He also �� Covid-19 pandemic, returning the airport to record passenger volumes ahead of industry projections. �� served as Managing Director of London Gatwick Airport and spent 14 years with the Virgin Group, working as a Board Director of the Virgin Travel Group overseeing Virgin Atlantic Airways and Virgin Trains. TONY DOUGLAS CEO, Riyadh Air Tony Douglas is the Chief Executive �� A�� A�� national carrier owned by the Public Investment Fund. Appointed in 2023, he is responsible for establishing and �� and long-term growth as it prepares to become a key contributor to the �� 20�0 �� tourism ambitions. A highly experienced aviation and infrastructure executive, Tony previously �� of Etihad Airways, where he led a major transformation programme focused on improving operational performance and �� leadership roles as Chief Executive ADEL ABDULLAH ALI Group CEO, Air Arabia Adel Abdullah Ali has led Air Arabia since its founding in 2003, making him one of the longest-serving airline CEOs in the region. Under his leadership, the carrier grew from the Middle East and North A�� operating six hubs across the UAE, Morocco, Egypt and Pakistan, with 92 aircraft in service and 120 on order. In 2025, Air Arabia carried 21.8 million passengers and reported revenue of AED 7.78 billion, the strongest year in the �� M�� 2026� �� the United Kingdom with a double-daily Sharjah to London Gatwick route on the A321neo LR. �� A�� A�� A�� M�� AA/�� A�� M�� Before Air Arabia, Ali served as Vice President of Commercial and Customer Services at Gulf Air and spent more than 20 years at British Airways, rising to General Manager for the Middle East and Africa. AVIATION, AIRPORT & TRAVEL CONNECTIVITY 66 BUSINESS TODAY MIDDLE EAST | JULY 2026

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IBRAHIM AL-OMAR Director General, Saudia Group Ibrahim Al-Omar has served as Director General of Saudia Group since 2020, �� 60�000 �� 19� �� In 2024, the group carried 35 million �� 19��000 �� Under his leadership, Saudia secured the largest aircraft purchase deal �� agreement with Airbus for 105 A320neo and A321neo aircraft. Before Saudia, he held senior roles at Bahri, STC and Mobily. He holds a degree in Electrical Engineering from King Fahd University of Petroleum and Minerals and attended the Programme for Leadership Development at Harvard Business School. H.H. SHEIKH AHMED BIN SAEED AL MAKTOUM Chairman and CEO, Emirates Airline and Group H.H. Sheikh Ahmed bin Saeed Al M�� economic development for more than 39 years. As Chairman and CEO of Emirates Airline and Group, which includes dnata, he has overseen the growth of one of �� travel brands. Beyond Emirates, he serves as President of Dubai Civil Aviation Authority, Chairman of Dubai Airports, Chairman of Emirates NBD, Deputy Chairman of The Executive Council �� Supreme Fiscal Committee. He is also a Board Member of the Investment Corporation of Dubai. He holds a degree in Political Science from the University of Denver and has received international honours including the Legion of Honour from France, one �� honorary Doctor of Science from City University London. WWW.BUSINESSTODAY.ME 67

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BANDER ALMOHANNA �EO �� M�� D�� Bander Almohanna is the Chief �� M�� A�� Since taking on the role in 2015, �� development and continued operational excellence. Under �� received numerous international awards, reinforcing its position �� low-cost carriers. With more than 20 years of �� and corporate leadership, �� 2006 before becoming Executive Vice President in 2008. He holds degrees from King Saud University, the University of Michigan and the American University in Washington, D.C., and has completed the Advanced Management Program at Harvard University. AVIATION, AIRPORT & TRAVEL CONNECTIVITY GHAITH AL GHAITH CEO, Flydubai Ghaith Al Ghaith is the Chief �� having led the airline since its inception in 2008. Under his �� leading carriers, connecting more ANTONOALDO NEVES Group CEO, Etihad Aviation Group Antonoaldo Neves was appointed Group CEO of Etihad Aviation Group in October 2022� �� airline turnarounds and growth strategy. He previously served as CEO of TAP, �� a major recovery effort that contributed to �� sector. Before that, he was President of Azul Airlines in Brazil, guiding the carrier to � �� Exchange. Earlier in his career, he was a partner at McKinsey & Company, where than 140 destinations across 58 countries while delivering record �� enhancing the customer experience. His strategic focus on innovation, operational excellence and sustainable growth has played a �� position as a global aviation hub. A highly respected leader in the aviation industry, Ghaith has been recognised for his outstanding �� contribution to the travel and tourism �� steadfast commitment to innovation, strategic growth and operational excellence, earning him industry- wide recognition for his lasting impact on airline strategy and leadership. he developed the long-term strategy for �� He holds an MBA from the University of �� M�� from IAG Business School at PUC-Rio. 68 BUSINESS TODAY MIDDLE EAST | JULY 2026

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ELENA SORLINI Managing Director and CEO, Abu Dhabi Airports Elena Sorlini is the Managing Director �� A�� Airports, bringing more than 20 years of international experience across the aviation sector. She leads the strategic �� A�� airports, driving operational excellence �� aviation ambitions. In addition to serving on the Board of Abu Dhabi Airports, Elena is a board member of Etihad Airways, Abu Dhabi Aviation and ADQ Aviation and Aerospace Services. Prior to joining Abu Dhabi Airports, she held senior leadership roles in airport strategy and asset management with Oman Aviation Group, Copenhagen Airports and Macquarie Airports, where she played a key role in shaping the growth and performance of major international airport assets. �� Business Administration from Bocconi �� M�� Corporate Finance, and an Executive MBA from Copenhagen Business School. HAMAD ALI AL-KHATER Group CEO, Qatar Airways Group Hamad Ali Al-Khater was appointed Group CEO of Qatar Airways Group in December 2025, succeeding Engr. Badr Mohammed Al-Meer. He joined from Hamad International Airport, where �� responsible for safety, operational excellence, infrastructure expansion and passenger experience. Before that, he held senior roles at QatarEnergy leading business development and large-scale strategic initiatives. He takes the helm of an airline that won �� A�� time at the 2025 Skytrax World Airline A�� Best Business Class and Best Airline in the Middle East for the 13th consecutive �� A�� 160 destinations worldwide, connecting through Hamad International Airport, itself recognised as the Best Airport in the Middle East for 11 consecutive years. WWW.BUSINESSTODAY.ME 69

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QUSAI AL-FAKHRI Acting CEO, Events Investment Fund Qusai Al-Fakhri is the Acting Chief �� Investment Fund (EIF), where he oversees the development and strategic direction of investments that support �� A�� and entertainment ecosystem in line with Vision 2030. He plays a key role in enabling high-impact partnerships and initiatives that strengthen the �� global destination for major events. With extensive experience in investment and strategic leadership, Mr Al-Fakhri has contributed to shaping initiatives that drive sector �� and long-term value creation within the events industry in Saudi Arabia. EXPERIENCES AND EVENTS SARA AHMED BUHIJI CEO, Bahrain Tourism and Exhibitions Authority (BTEA) Sara Ahmed Buhiji is the Chief Executive �� Exhibitions Authority (BTEA) and Chairperson of Exhibition World Bahrain. She leads the strategic development �� driving initiatives that strengthen �� regional destination for business events, exhibitions and leisure tourism. In her leadership role, she also oversees Exhibition World Bahrain, �� advanced exhibition and convention centres, supporting the growth of the MICE industry and the delivery of major international events. Sara brings extensive experience in communications, government and public sector leadership, having held senior roles �� M�� and corporate communications functions. She also serves on several boards, including Gulf Air Group Holding and the �� 70 BUSINESS TODAY MIDDLE EAST | JULY 2026

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HUMAID MATAR AL DHAHERI Managing Director and Group CEO, ADNEC Group Humaid Matar Al Dhaheri is the Group �� A�� strategic direction and global expansion across exhibitions, events and venue management. Under his leadership, ADNEC Group has strengthened its position as a leading international player in the business events sector, �� A�� competitiveness. He is also Chairman of ExCeL London and serves on the Board of Abu �� A�� infrastructure and aviation assets in the UAE. �� M�� Strategy and National Security Studies from the National Defence College in Abu �� M�� Accounting and Financial Management from the University of Glasgow, and a �� A�� United Arab Emirates University. TAHA NAZER Acting CEO, Cruise Saudi Taha Nazer is the Acting Chief Executive �� A�� sector in line with Vision 2030. He was appointed to the role in 2026, following �� during which he played a key role in �� within the organisation. With over 19 years of experience �� maritime sectors, he brings extensive �� investment planning and large-scale transformation programmes. Prior to Cruise Saudi, he held senior roles in major organisations, building a strong �� risk management and business development. WWW.BUSINESSTODAY.ME 71

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FERNANDO EIROA CEO, Dubai Holding Entertainment Fernando Eiroa is the Chief Executive �� with more than 20 years of international leadership experience in the entertainment and leisure industry. He leads a diverse portfolio of world- class attractions and destinations, driving strategic growth, innovation and operational excellence. Before joining Dubai Holding Entertainment, Fernando held senior executive positions at Sky Zone Holdings, Palace Entertainment and Parques Reunidos, where he successfully led the company's IPO. He holds an MBA from Anglia Ruskin University, a Master's degree in Engineering Management from Marconi University, and is a Chartered Manager accredited by the Chartered Management Institute. SHABIB AL MAAMARI Managing Director, Visit Oman Shabib Al Maamari has led Visit Oman since its launch in 2021 �� M�A� �� arm for tourism development. The platform operates as �� system, providing travellers and travel agents with access to accommodation, transport and experiences across Oman. In 2024, hotel guests in Oman grew by 3.6 per cent to 2.1 million, with occupancy rates rising by 2.1 per cent. In 2025, the MICE segment generated approximately OMR 15 million in economic returns and hosted 24 major international conferences. Recent partnerships include TBO Holidays �� B2B travel trade sector across the Middle East and India. Before Visit Oman, Al Maamari held senior roles at Oman Aviation Group and Transom. He holds a BSc in Business Administration from the University of Missouri. EXPERIENCES AND EVENTS 72 BUSINESS TODAY MIDDLE EAST | JULY 2026

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HAMED EL CHIATY Chairman, Travco Group Hamed El Chiaty founded Travco Travel Company of Egypt in 1979 and built �� M�� leisure and tourism conglomerates, with assets exceeding EGP 90 billion. The group operates 58 hotels and resorts, 21 �� 00 �� Egypt and the GCC. �� through the Jaz Hotel Group, overseeing �� M�� Its travel division has been recognised �� for 21 consecutive years. El Chiaty has served on the board of the Egyptian Hotels Association and as a supervisory �� A�� leading tourism group. MUZZAMMIL AHUSSAIN CEO, Almosafer Muzzammil Ahussain has led Almosafer as CEO since January 2023, �� A�� travel platform. Part of Seera Group, Almosafer operates across consumer travel, corporate and government travel through Almosafer Business, and destination management through Discover Saudi. The consumer business reported approximately $1.5 billion in gross booking value in 2024. Under his leadership, Almosafer has embedded AI across more than 100 internal initiatives, with its WhatsApp sales channel now accounting for up to 10 per cent of daily bookings. A pending �� A�� Investment Fund and a planned IPO �� Before Almosafer, Ahussain served as Senior Manager at Accenture Strategy. He holds an MBA with distinction from INSEAD and a degree in Economics from the University of California, Irvine. WWW.BUSINESSTODAY.ME 73

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ADEL MARDINI Founder and CEO, Jetex Adel Mardini founded Jetex in Dubai in 2005 and has grown it into a global network of 38 private jet terminals across more than 25 countries, with over 1,000 employees. The company has recorded 100 per cent growth since 2023 and is targeting 75 locations by end of next year. Born in Damascus, Mardini has built Jetex into a luxury aviation and lifestyle brand serving heads of state, ultra- high-net-worth individuals and global executives. He serves on the board of MEBAA and participates in the World �� Organization. DR. RAKAN ALHARTHY Founder, Managing Director and CEO, Sela Dr. Rakan AlHarthy founded Sela in 1997 and has led it into becoming the Middle East and North Africa's leading operator of sports, entertainment and live experiences. The company's portfolio spans Riyadh Season, Jeddah Season, Formula E, the Italian Super Cup and major international boxing events. In March 2025, Sela launched an international headquarters in London, extending its expertise to global markets. The same month, Sela announced a multi-year partnership with TKO Group Holdings to launch a new boxing promotion company. AlHarthy also serves on the boards of Qiddiya Investment Company and the Events Investment Fund. He holds an MBA from HFB Business School in Frankfurt. 74 BUSINESS TODAY MIDDLE EAST | JULY 2026

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ENTREPRENEURSHIP WHAT 808 ENTREPRENEURS REVEAL ABO�T THE �AE’S B�SINESS ��T�RE At this year’s INJAZ UAE Company Programme, 808 young entrepreneurs across 99 ventures offered the clearest signal yet that the UAE’s talent pipeline is real and growing fast. T he numbers are striking. In a single year, INJAZ UAE reached 808 students across 99 student ventures, with 23 finalist teams competing for recognition at this �� the Board of INJAZ UAE, the scale of participation reflects something deeper than enthusiasm. “This high level of engagement highlights the effectiveness of initiatives like ��A� �A�� in creating platforms where young people can explore their ideas, take risks, and start their entrepreneurial journeys in a structured and supportive environment,” he says. But numbers only tell part of the story. The more interesting question is what separates the entrepreneurs �� and what the people investing in this generation are actually seeing when they look at the pipeline. �� A� �A�� idea but the ability to execute it. “The �� out because they brought together a combination of vision, execution, and adaptability,” she says. “What truly separated them was their ability to translate ideas into action. These teams demonstrated resilience in overcoming �� their strategies, and maintained a consumer-focused mindset.” The moment that most reveals whether a young entrepreneur has what it takes, she adds, often comes not during a pitch but in response to criticism. “How they respond to feedback often reveals their potential. 76 BUSINESS TODAY MIDDLE EAST | JULY 2026

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Do they take it as an opportunity to learn and improve, or do they resist change? Those who embrace feedback and evolve are the ones who tend to succeed.” From where Fadi Moukaddem, SVP and Group General Manager for UAE, Kuwait and Qatar at Visa, is sitting, what stands out about this generation is how instinctively they think beyond traditional boundaries. “For many of the students here, digital �� designing solutions that are mobile- �� inclusive from day one.” More striking still is the sense of purpose behind �� impact. That mindset aligns closely �� expanding access and bringing more people into the formal economy in a meaningful way.” Moukaddem is equally direct about �� today need to develop. Technical skills matter, but adaptability matters more. “The tools and technologies will evolve quickly, AI is a great example of that, but the fundamentals remain the same: understanding customer needs, managing risk, and building trust.” Those who thrive, he says, will be the ones who can connect technology with real-world applications and do so responsibly. The broader economic context makes that challenge both harder and more urgent. Anthony �� Young, argues that periods of complexity are precisely when entrepreneurial thinking is most needed. “In a period of uncertainty and complexity we need adaptive minds who can see through the noise to identify solutions to new problems and become change makers. So we need entrepreneurs now more than ever.” For Bashiti, the message to corporate partners and policymakers is equally clear. “INJAZ UAE is not just building student ventures. We are contributing to the foundation �� A�� are equipping young people with the skills, mindset, and experiences they need to succeed not just as entrepreneurs, but as contributors to the broader economic and social fabric of the UAE.” The 99 ventures that came through �� become businesses. But the habits of mind being built, the willingness to take a risk, respond to criticism, and build something from nothing, are exactly what a diversifying economy needs more of. H�E� �� B��, �� A� �A� R�� B�� A� �A� �� M��, SVP & Group General Manager - UAE, Kuwait & Qatar, VISA A�� O’S�� Partner, Ernst & Young WWW.BUSINESSTODAY.ME 77

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TECHNOLOGY �HAT �ERN’S BI��EST ��RADE HAS TO DO �ITH THE MIDD�E EAST’S AI AMBITIONS �he worl��s most powerf�l particle accelerator is of�ine for fo�r years. �or ��siness lea�ers in the �� an� �a��i �ra�ia� the �pgra�e �n�erway may �e more rele�ant than it first appears. W hen most people hear �� particle accelerator has been switched off, �� B�T �ERHA�S IT SHO��D BE� �� In simple terms, it allows scientists �� It was also the machine behind the �� 2012� �� 20�0 �� Hadron Collider, it will be capable of �� BY AMAL FARUK SALIK MORE THAN A S�IEN�E �RO�E�T �� 78 BUSINESS TODAY MIDDLE EAST | JULY 2026

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�� M�� A� �� H� THE MIDD�E EAST SHO��D �A� ATTENTION �� A�� A� �� A� �� 2 �� M�� A� �� A�� A� �� : �� SA�DI ARABIA IS �O��O�IN� A SIMI�AR �ATH �� A�� 20�0� �� M �� THE BI��EST �ESSON ISN’T ABO�T �H�SI�S �� A� �� A�� A� �� A�� A�� M�� WWW.BUSINESSTODAY.ME 79

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MOTORSPORT THE MOST POWERFUL FORMULA E CAR EVER BUILT DEBUTS THIS DECEMBER IN JEDDAH T he ABB FIA Formula E World Championship has officially announced its most expansive calendar to date for the 2026–2027 season, featuring a record-breaking 21 races across 13 global cities. This milestone season will also mark the debut of the next-generation GEN4 race car, a high-performance, sustainability- focused machine delivering 600 kW of power (over 815 hp) and constructed entirely from 100 per cent recyclable or reusable materials. 82 BUSINESS TODAY MIDDLE EAST | JULY 2026

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�orm�la � has confirme� a recor� ��race calen�ar for �� a new generation car� an� a fresh race format. �he season opens in �e��ah this �ecem�er. the season include the Circuit of the Americas in Austin, United States, and the MASCOT Zandvoort Circuit in the Netherlands. Additionally, the London E-Prix will relocate from its previous ExCeL Circuit setting to the historic Brands Hatch circuit. The 2026–2027 season will commence with a double-header opener in Saudi Arabia, featuring two night races at the Jeddah Corniche Circuit on December 18 and 19, 2026. From there, the championship will embark on a global tour spanning the Americas, Europe, and Asia, with the calendar strategically optimised by region to reduce logistical complexity and lower shipping-related emissions. The season will conclude in July 2027 �� in Shanghai and Tokyo, bringing the record-setting championship to a close after a landmark year of innovation, performance, and sustainability in electric motorsport. The upcoming season introduces a new competitive format designed to elevate race weekends, featuring a dual-race structure that combines the traditional E-Prix with a shorter, more intense sprint-style event titled the “E-Prix Unleashed.” This addition is expected to amplify on-track action and enhance fan engagement across race weekends. �� increased performance capabilities, the championship will expand its presence on permanent, world-class circuits while continuing to preserve its signature street-racing identity. New venues for WWW.BUSINESSTODAY.ME 83

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JEWELLERY CARTIER REIMAGINES THE LOVE BRACELET IN COLOUR One of jewellery's most iconic designs gets a bold new chapter. 84 BUSINESS TODAY MIDDLE EAST | JULY 2026

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F �� 1969� �� WWW.BUSINESSTODAY.ME 85

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LIFESTYLE F ine Arts Paris returns to the Grand Palais from 19 to 23 �� edition, its first under the presidency of Xavier Eeckhout. The fair brings together 100 internationally �� furniture, antiquities and jewellery, with a strong representation of Islamic art and Old Masters alongside Impressionist, Post-War and contemporary works. This edition places sculpture at its centre, with a dedicated group of dealers covering the discipline from antiquity to the present day. Galleries include Chenel, specialising in archaeological objects, alongside Brimo de Laroussilhe for Medieval and R e n a i s s a n c e sculpture and Univers du Bronze for works spanning the past two centuries. A new section, New Horizons, expands �� dealers and contemporary makers across jewellery, ceramics and textiles — offering collectors an entry point into new areas of the market. The edition will also host a special exhibition drawn from the future Musée du Grand Siècle, set to open in 2028 within the historic Domaine de Saint-Cloud. The �� collection devoted entirely to 17th-century France, anchored by a donation from former Louvre director Pierre Rosenberg. Fine Arts Paris runs from 19 to 23 September 2026 at the Grand Palais, Paris. FINE ARTS PARIS RETURNS TO THE GRAND PALAIS THIS SEPTEMBER For GCC collectors with an eye for provenance and rarity, Paris has a compelling reason to visit this autumn. 86 BUSINESS TODAY MIDDLE EAST | JULY 2026

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