Company profile
Name: Infinite8
Based: Dubai
Launch year: 2017
Number of employees: 90
Sector: Online gaming industry
Funding: $1.2m from a UAE angel investor
Infinite8, a gaming and IT solutions company based in Dubai, is looking to develop localised apps and games to boost the region's growing online gaming industry in the region.
The start-up, which secured $1.2 million (Dh4.4m) of funding for its sports gaming and news app SportMob earlier this year, is now developing a number of online games with Arab values and culture to attract customers in the region.
“The gaming industry has been a neglected industry for so many years both in the UAE and Mena region,” says Hamid Fathalian, the founder of Infinite8.
Most of the big gaming companies focus on western culture but not on the Arab culture and the Middle East region.
“Non-UAE and non-GCC game developers [control] an almost full market share in this region. This was one of the main reasons that we started Infinite8 to address this need and develop localised apps and games by keeping the regional values and culture in mind.”
Mr Fathalian, from Germany, moved to the UAE in 2017 to start the company with co-founder Farshad Khamisi. The duo saw enormous potential for regional growth of the online gaming industry due to the high internet penetration rate and the large number of mobile phone users.
In the GCC, the e-gaming market is expected to be worth $821m (Dh3 billion) by 2021, almost $130m more than its value in 2017, according to consultancy Strategy&, which is part of the PwC Group.
Games created by international developers make up the lion’s share of the Gulf market. Worldwide, the gaming industry is worth $148.8bn, while the market in the Middle East and Africa is valued at about $4.8bn, just 3 per cent of the global value, according to a November report by market research firm Newzoo.
Mr Fathalian says he wants "to bring his 20-plus year's of experience" in the gaming, app and web development industry to the region "through localisation in line with UAE’s vision and diverse culture".
“There is enormous opportunity in this region," he says. "Most of the big gaming companies focus on western culture but not on the Arab culture and the Middle East region. Dubai is the best place to start to cater to the niche market.”
While the company was self-funded by the founders, its SportMob app secured an investment of $1.2m from a UAE-based angel investor earlier this year. The app offers live scores of football matches from across the globe with breaking news, videos, match details and profiles of 250,000 players.
With all football matches cancelled during the Covid-19 pandemic, the company is now focusing on developing a cartoon series featuring top football stars to entertain users on its app. It also has a daily quiz related to football and a fun corner.
“We have set a goal to support and entertain our users, by keeping football live with our SportMob cartoon series. We have 250,000 users and the number is rising rapidly on the app,” says Mr Fathalian.
Top football stars that feature in the cartoon series including Zinedine Zidane, Lionel Messi, Mohamed Salah and Cristiano Ronaldo, among others. SportMob also offers its users video clips of matches, press conferences and daily quizzes.
The company generates revenue through advertisements and subscriptions for some of its cartoon series content. It also creates animations and games for UAE clients, for example, it created animations for Dubai police which were shared on Twitter.
Infinite8, which has a staff of 90 at its Dubai Silicon Oasis base, is now eyeing expansion in the Middle East and in Europe in the next two years, with plans to open offices in GCC countries and Egypt.
“Our plan is to have over 200 employees in the next two years and three to four offices in neighbouring countries and Europe," says Mr Fathalian. "We also plan to launch one new casual game on Facebook every two months.”
The entrepreneur says the start-up has five big competitors but none of them are focused on this region. However, regional players such as Beirut-based gaming studio Falafel Games and Amman-based Arabic mobile games publisher Tamatem Games have also started to gain traction by developing culturally relevant content in recent times.
“Most of our competitors are non-regional companies," says Mr Fathalian. "However, we are very mindful about our goals and our approach of specialising in our local market before competing globally.”
About 10 per cent of the company's users are from the UK while the remaining 90 per cent are from Egypt, UAE, Saudi Arabia, Iraq and Kuwait, he says.
"The market is huge for the gaming industry. There are many investors who are keen to invest.”
Q&A with Hamid Fathalian, the founder of Infinite8
What is your five-year vision for the company?
Our goal is to become one of the UAE's key players in the gaming and sports entertainment industry that has a lasting effect on the region.
What new skills have you learnt in the process of launching the company?
The most important skill gained was how to develop multicultural products by keeping the UAE and region's culture and values in mind.
What already successful start-up do you wish you have started?
Steam, the online gaming platform.
Where do you see yourself in 10 years?
I see myself as a business accelerator, an angel investor, providing support and mentorship to start-ups in the UAE and the region.
What is your mantra for success?
A river cuts through a rock not because of its power but because of its persistence.
Episode list:
Ep1: A recovery like no other- the unevenness of the economic recovery
Ep2: PCR and jobs - the future of work - new trends and challenges
Ep3: The recovery and global trade disruptions - globalisation post-pandemic
Ep4: Inflation- services and goods - debt risks
Ep5: Travel and tourism
Zayed Sustainability Prize
Company profile
Company: Eighty6
Date started: October 2021
Founders: Abdul Kader Saadi and Anwar Nusseibeh
Based: Dubai, UAE
Sector: Hospitality
Size: 25 employees
Funding stage: Pre-series A
Investment: $1 million
Investors: Seed funding, angel investors
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UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
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Director: Trevor Nunn
Starring: Judi Dench, Sophie Cookson, Tereza Srbova
Rating: 3/5 stars
Pox that threatens the Middle East's native species
Camelpox
Caused by a virus related to the one that causes human smallpox, camelpox typically causes fever, swelling of lymph nodes and skin lesions in camels aged over three, but the animal usually recovers after a month or so. Younger animals may develop a more acute form that causes internal lesions and diarrhoea, and is often fatal, especially when secondary infections result. It is found across the Middle East as well as in parts of Asia, Africa, Russia and India.
Falconpox
Falconpox can cause a variety of types of lesions, which can affect, for example, the eyelids, feet and the areas above and below the beak. It is a problem among captive falcons and is one of many types of avian pox or avipox diseases that together affect dozens of bird species across the world. Among the other forms are pigeonpox, turkeypox, starlingpox and canarypox. Avipox viruses are spread by mosquitoes and direct bird-to-bird contact.
Houbarapox
Houbarapox is, like falconpox, one of the many forms of avipox diseases. It exists in various forms, with a type that causes skin lesions being least likely to result in death. Other forms cause more severe lesions, including internal lesions, and are more likely to kill the bird, often because secondary infections develop. This summer the CVRL reported an outbreak of pox in houbaras after rains in spring led to an increase in mosquito numbers.
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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Company profile
Name: Infinite8
Based: Dubai
Launch year: 2017
Number of employees: 90
Sector: Online gaming industry
Funding: $1.2m from a UAE angel investor
