MENA sees increased M&A activity in 2024 with 701 deals totaling $92.3bln
Doha: According to the latest EY MENA M&A Insights 2024 report, the MENA region recorded a 3% rise in merger and acquisition (M&A) activity with 701 deals in 2024, compared to 679 deals in 2023. The total deal value in 2024 reached $92.3bn, indicating a 7% increase from the previous year. The GCC region accounted for the majority of dealswith580, amounting to $90bn.
This expansion was largely fueled by substantial reforms in the capital markets, strategic policy changes and enhanced efforts to attract foreign investments. Cross-border deals were the major driver of M&A deals in the MENA region, accounting for 52%of the volume and 74% of the value.
Brad Watson, EY MENA Strategy and Transactions Leader, says: 'In 2024, the MENA region witnessed positive developments in the M&A space with a y-o-y increase in activity as well as overall deal value. With companies actively seeking opportunities to grow and diversify their operations, cross-border deals were the major driver in terms of volume and value. The top five subsectors were insurance, asset management, real estate and hospitality, power and utilities, and technology – indicating a real interest in the innovative solutions that the MENA region can provide. In addition, there is a focus on strengthening regional relationships with Asian and European countries, enabled MENA countries to gain access to larger and growing markets.'
Anil Menon, EY MENA Head of M&A and Equity Capital Markets Leader, says: 'In 2024, technology remained the most attractive sector for investors, accounting for 23% of total inbound and domestic deal volume. We're living through a productivity renaissance fueled by technology and AI, which will manifest in capital allocation and M&A.'
'The deal book (across sectors) for the fiscal year 2025 remains extremely strong and we expect to see continued portfolio momentum and interest in MENA-based assets.'
Sovereign wealth funds (SWFs), such as the Abu Dhabi Investment Authority (ADIA) and Mubadala from the United Arab Emirates (UAE), as well as the Public Investment Fund (PIF) from the Kingdom of Saudi Arabia (KSA), continued to lead the deal activity in the region.
Outbound deals contributed the largest share of M&A transaction value in 2024 accounting for61% of the total consolidated deal value, with 199transactions amounting to $56.6bn.The MENA region continues to be one of the most attractive destinations for foreign direct investors.
© Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Tourism Breaking News
29 minutes ago
- Tourism Breaking News
Etihad Airways and STARLUX Airlines sign strategic codeshare partnership
Post Views: 61 Etihad Airways has signed a strategic codeshare agreement with Taipei-based STARLUX Airlines, expanding customer access to Northeast Asia and strengthening Abu Dhabi's position as a gateway between East and West. The partnership, announced at the International Air Transport Association Annual General Meeting in New Delhi, enables Etihad customers to connect seamlessly to key Japanese cities including Nagoya, Sapporo, and Fukuoka via Taipei, whilst offering STARLUX passengers direct access to Etihad's European network through Abu Dhabi. Etihad will launch daily flights between Abu Dhabi and Taipei on 7 September 2025, operated by Boeing 787 Dreamliner aircraft. The new route creates the foundation for the codeshare partnership, positioning Taipei as a gateway for Etihad's expansion into Northeast Asia. Etihad customers booking through and the airline's mobile app will benefit from streamlined travel with single-ticket bookings, coordinated check-in processes, and automatic baggage transfers to final destinations across STARLUX's Asia-Pacific network. The agreement also opens new pathways for STARLUX passengers to reach European destinations including Prague, Madrid, and Barcelona via Abu Dhabi, positioning the emirate as an attractive transit hub for Asian travellers bound for Europe. Both airlines will launch joint marketing initiatives in Taiwan and establish a reciprocal frequent flyer programme by year-end, allowing Etihad Guest members to earn and redeem miles across both networks. Arik De, Chief Revenue and Commercial Officer at Etihad Airways, said: 'This partnership with STARLUX Airlines opens new market opportunities in Northeast Asia, giving our customers access to Japan's key business and leisure destinations through Taipei. STARLUX Airlines' reputation for premium service aligns perfectly with our standards, and together we're offering travellers more choice and convenience when connecting across three continents.' Simon Liu, Chief Strategy Officer of STARLUX Airlines, said: 'Our partnership with Etihad Airways marks a significant milestone in STARLUX Airlines' global expansion, laying the foundation for future European routes. As one of the Middle East's leading carriers, Etihad is globally recognised for its innovation and premium service—values that strongly align with the STARLUX brand. By leveraging Abu Dhabi's role as a major hub, this codeshare allows us to rapidly extend our network into Europe, offering passengers a wider range of travel options. We also look forward to deepening collaboration on mileage accrual and premium services to ensure an exceptional experience for customers.' The codeshare agreement builds on Etihad's strategic network expansion, which has seen the airline grow to serve over 90 destinations worldwide. The partnership with STARLUX further demonstrates Abu Dhabi's appeal as a premium transit destination, offering travellers world-class facilities at Zayed International Airport alongside the option to extend layovers with Etihad's complimentary Abu Dhabi Stopover programme. Codeshare flights will be available for booking through the Etihad app, and travel partners, with services expected to commence following regulatory approvals.
Web Release
32 minutes ago
- Web Release
Multiply Group lights up the world with the launch of Multiply Media Group, creating a media powerhouse headquartered in the UAE
Multiply Group (ADX: MULTIPLY), the Abu Dhabi-based investment holding company, today launches Multiply Media Group (MMG), uniting the three market-leading out-of-home (OOH) companies under its portfolio to create a new media powerhouse headquartered in the UAE. The combination of BackLite Media, Viola Media and Media 247 under Multiply Media Group represents a significant move that will shape the future of tech-enabled media in the UAE and beyond. Samia Bouazza, GCEO and Managing Director of Multiply Group, said: 'The launch of Multiply Media Group represents the most significant media consolidations in the UAE. By bringing together market-leading media assets under a single AI & tech-driven group, we are reinforcing our commitment to long-term value creation and shareholder returns. MMG lays a strong foundation for our global ambitions and forward-looking investment strategy.' MMG was launched at the World Out of Home Organization (WOO) Annual Congress in Mexico City, and simultaneously it lit up the world through a global takeover across key DOOH media, illuminating cities and screens worldwide with its bold presence. The move reflects the global expansion of Multiply Group, the $7.2 billion holding company, which is part of IHC, the most valuable holding company in the Middle East with a market cap of over $240 billion. The newly consolidated group will serve as a launchpad to capture regional and international opportunities arising in the media sector through MMG portfolio businesses. MMG will drive performance and innovation across the OOH media sector, reshaping the UAE's media landscape through scale, AI, and strategic partnerships. To achieve its mission, MMG will invest in high-potential media assets, catalyse growth with innovation and create synergies across its portfolio through strategic investments. Jawad Hassan, Head of Media and Communications Vertical at Multiply Group, said: 'For several years, Multiply Group's ambitious growth strategy for the media sector has taken us from an integrated portfolio of three industry leaders to a media powerhouse with vast potential to redefine the entire regional media landscape in ways that will bring immediate impact and long-term value for clients. Through MMG, we stand ready to embrace the emerging trends in our industry, particularly the transformative role of AI, and we will continually look to invest in technologies that enable us to create dynamic and innovative campaigns.' The scale of MMG includes 3,000 advertising units across the UAE, including 75+ premium assets on Dubai's Sheikh Zayed Road, which are backed by long-term partnership agreements with the Road and Transport Authority (RTA) (Mada Media) in Dubai and The Department of Municipalities & Transport (DMT) in Abu Dhabi. James Bicknell, CEO of Multiply Media Group, said: 'Multiply Media Group launches as a transformative force in out of home media — a powerhouse that unites some of the region's most strategic media assets under one bold vision. With MMG, we are not simply scaling up — we are scaling intelligently. Our mandate is clear: deliver context at scale, and reach audiences where it truly matters, when it matters most. MMG is engineered to be agile, data-led, and deeply integrated, enabling our clients to engage audiences with greater relevance, responsiveness, and resonance than ever before. This is more than media — it's momentum.' The launch of MMG follows a recent strategic agreement between Multiply Group's media vertical and Al Arabia, Arabian Contracting Services Company (Al Arabia) to create a joint venture (JV) to invest in the global out-of-home (OOH) advertising sector. Multiply Group, also announced a recent Memorandum of Understanding (MoU) with Saudi Media Company (SMC) – with these two strategic moves underscoring the global expansion potential of Multiply's portfolio brands. Multiply Group's other media holdings include Yieldmo, a contextual mobile ads platform, and Firefly, North America's leading digital Taxi-Top company. The group completed the acquisition of Viola Communications, a marketing and communications firm, in 2021.
Gulf Business
an hour ago
- Gulf Business
Massive AI Surge: UAE's GenAI growth hits 344%, leading the region
Image credit: Getty Images The UAE has recorded a 344 per cent year-over-year increase in Generative AI (GenAI) enrollments, significantly outpacing the MENA regional average of 128 per cent and the global average of 195 per cent. The findings are based on the Global Skills Report 2025 from Coursera, a leading online learning platform with over 170 million users worldwide. Read- The report highlights the UAE's growing emphasis on future-ready talent, with 87 per cent of employers in the country prioritising technology literacy, AI, and big data skills. The country continues to lead the region in digital upskilling, with 13 per cent of the labor force actively engaging in online learning. Workforce transformation driven by AI Professional certificate enrollments rose by 41 per cent, including a 14 per cent increase in cybersecurity courses—demonstrating rising demand for job-relevant, tech-focused credentials. The report analyses skill trends and learner behavior across more than 100 countries. The sharp increase in GenAI enrollments reflects the UAE's broader strategy to cultivate a knowledge-based economy powered by Emirati talent, aligning with the national 'We the UAE 2031' vision. UAE ranks first in Arab world on AI Maturity Index A new feature in this year's study is the AI Maturity Index, which evaluates national readiness for AI by combining learner engagement data with indicators from the International Monetary Fund (IMF) and the OECD. The UAE ranks first in the Arab world and 32nd globally out of 109 countries. This ranking is supported by national initiatives such as the planned 5GW AI Campus and the integration of AI into public school curricula. These efforts align with the UAE's National Artificial Intelligence Strategy 2031, which aims to make AI a key contributor to over 20 per cent of the non-oil GDP by that year. 'The UAE is rapidly scaling AI learning and infrastructure to drive workforce transformation and regional innovation. Its strong performance on the AI Maturity Index, combined with high rankings in overall skills proficiency, demonstrates the country's growing ability to close skill gaps, nurture future talent, and lead in AI readiness,' Kais Zribi, General Manager for the Middle East and Africa at Coursera, said. Key challenges: Gender gap and skills shortage remain Despite the UAE's progress, challenges persist. The country ranks 38th globally in overall skills proficiency across business, technology, and data science, though it leads the Arab world. Notably, the UAE shows high proficiency in business skills (85 per cent), moderate strength in data science (59 per cent), and room for improvement in technology (52 per cent). Among the 10.8 million learners in the MENA region, 1.3 million are based in the UAE, with a median age of 36. Mobile learning continues to grow, with 41 per cent of users accessing content via mobile devices. However, 72 per cent of UAE employers still cite skills gaps as a major barrier—above the global average. Increasing women's participation in emerging tech fields remains critical. Women currently make up 32 per cent of online learners in the UAE, with just 24 per cent enrolled in STEM courses and 21 per cent in GenAI, highlighting a significant opportunity for more inclusive growth.
