Grip, a Dubai International Financial Centre-registered investment banking and wealth management company, will conduct a multi-million dollar capital raise through the issuance of digital securities representing investor shares.
The issuance – the first of its kind in the Middle East, Africa and South Asia region – will see Grip leading the capital raise for Lead Real Estate, a residential and commercial developer that has its headquarters in Tokyo, according to a DIFC statement on Thursday.
“The issuance is the first major globally compliant digital securities offering in Measa (Middle East, Africa and South Asia), marking a key milestone for DIFC and Dubai. Grip is also on course to establish a private securities marketplace within the centre – a first for the region,” DIFC said.
The offering involves a collaborative effort by reputed lawyers, service providers, technology providers and regulated firms from across the world, including the UAE, the US, Japan, Hong Kong and the Cayman Islands.
Lead Real Estate is focused on the planning, acquisition, renovation and repurposing of real estate assets, with some of its projects leveraging opportunities arising from the 2021 Tokyo Olympics. The company’s assets are spread across Japan, America, Hong Kong and the Philippines.
"At Grip we are keen to be involved with cutting edge investment opportunities, and our pipeline is made up of green bonds and impact investments from clients that range from Japan, Mexico, Georgia and the GCC region", V Gowribalan, chief executive of Grip, said.
DIFC, which was set up in 2004, aims to raise the number of financial companies to 1,000, and employ 50,000 people by 2024. About 25,638 people worked in the centre at the end of last year, a 9 per cent jump from 2018.
“DIFC’s robust yet forward looking legal and regulatory framework is providing Grip with a platform to deliver a first for the centre and Measa region," Arif Amiri, chief executive of DIFC Authority, said. "Innovation like this will propel economic development in the region and illustrates how DIFC is driving the future of finance."
Earlier this month, the financial free zone signed an agreement with Dubai Investment Development Agency to attract more foreign investment into the emirate.
DIFC’s revenue at the end of 2019 rose 2 per cent year-on-year to $228 million (Dh837.45m), while its net profit at $119m remained stable with 2018 levels.
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UAE currency: the story behind the money in your pockets
South and West: From a Notebook
Joan Didion
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The biog
Favourite book: Men are from Mars Women are from Venus
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The biog
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Favourite books: Start with Why by Simon Sinek and Good to be Great by Jim Collins
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Inspiration: Sheikh Zayed's visionary leadership taught me to embrace new challenges.
The view from The National
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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Bundesliga fixtures
Saturday, May 16 (kick-offs UAE time)
Borussia Dortmund v Schalke (4.30pm)
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Fortuna Dusseldorf v Paderborn (4.30pm)
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Eintracht Frankfurt v Borussia Monchengladbach (7.30pm)
Sunday, May 17
Cologne v Mainz (4.30pm),
Union Berlin v Bayern Munich (7pm)
Monday, May 18
Werder Bremen v Bayer Leverkusen (9.30pm)
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
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Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Company Profile
Company name: OneOrder
Started: October 2021
Founders: Tamer Amer and Karim Maurice
Based: Cairo, Egypt
Industry: technology, logistics
Investors: A15 and self-funded
Martin Sabbagh profile
Job: CEO JCDecaux Middle East
In the role: Since January 2015
Lives: In the UAE
Background: M&A, investment banking
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Umm Al Emarat Park
Yas Gateway Park
Delma Park
Al Bateen beach
Saadiyaat beach
The Corniche
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Kite Beach
Zabeel Park
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Mushrif Park
Safa Park
Al Mamzar Beach Park
Al Qudrah Lakes
How to volunteer
The UAE volunteers campaign can be reached at www.volunteers.ae , or by calling 800-VOLAE (80086523), or emailing info@volunteers.ae.
How to help
Call the hotline on 0502955999 or send "thenational" to the following numbers:
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The specs: 2019 Audi A7 Sportback
Price, base: Dh315,000
Engine: 3.0-litre V6
Transmission: Seven-speed automatic
Power: 335hp @ 5,000rpm
Torque: 500Nm @ 1,370rpm
Fuel economy 5.9L / 100km
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2002 Giselle Khoury (Colombia)
2004 Nathalie Nasralla (France)
2005 Catherine Abboud (Oceania)
2007 Grace Bijjani (Mexico)
2008 Carina El-Keddissi (Brazil)
2009 Sara Mansour (Brazil)
2010 Daniella Rahme (Australia)
2011 Maria Farah (Canada)
2012 Cynthia Moukarzel (Kuwait)
2013 Layla Yarak (Australia)
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2015 Cynthia Farah (Australia)
2016 Yosmely Massaad (Venezuela)
2017 Dima Safi (Ivory Coast)
2018 Rachel Younan (Australia)
Padmaavat
Director: Sanjay Leela Bhansali
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How will Gen Alpha invest?
Mark Chahwan, co-founder and chief executive of robo-advisory firm Sarwa, forecasts that Generation Alpha (born between 2010 and 2024) will start investing in their teenage years and therefore benefit from compound interest.
“Technology and education should be the main drivers to make this happen, whether it’s investing in a few clicks or their schools/parents stepping up their personal finance education skills,” he adds.
Mr Chahwan says younger generations have a higher capacity to take on risk, but for some their appetite can be more cautious because they are investing for the first time. “Schools still do not teach personal finance and stock market investing, so a lot of the learning journey can feel daunting and intimidating,” he says.
He advises millennials to not always start with an aggressive portfolio even if they can afford to take risks. “We always advise to work your way up to your risk capacity, that way you experience volatility and get used to it. Given the higher risk capacity for the younger generations, stocks are a favourite,” says Mr Chahwan.
Highlighting the role technology has played in encouraging millennials and Gen Z to invest, he says: “They were often excluded, but with lower account minimums ... a customer with $1,000 [Dh3,672] in their account has their money working for them just as hard as the portfolio of a high get-worth individual.”
