Global Capital Partners FZ LLC

It's time to round up 2024 and look back at the top five UAE's IPOs for the year - but from a trusted source that actually runs the data properly. The IPO pipeline has been pumping out new debutants at an unprecedented rate for the UAE and shows no signs of grinding to a halt, which understandably generates a lot of buzz. It has become very fashionable to tout around top five, top eight, top ten (etcetera etcetera) lists of which of the UAEs IPOs have been the best performing - but unfortunately, many of these lists are factually incorrect, perhaps as a result of their authors' rush to get them out there for people to see. That would be the charitable explanation. Alternatively, such authors lack the proper understanding of capital market dynamics to be writing about them in the first place, but do so anyway because it inevitably generates clicks. At GCP, we have never been afraid to call out such incorrect analysis, and we have always been careful to double-check our calculations - while this may come at the expense of speed, it does also bring with it more reliable and accurate analysis. Having said all of that, let us get to the actual round up. From the horde of UAE IPOs, the best five performing for the calendar year 2024 are seen in the first chart below, where their total returns are bifurcated for both capital and dividend gains this year. Rather unsurprisingly, all five are government-owned companies, which have across the board proven to hold more consistent value post-IPO than their private sector counterparts. It has also been a good year for the DFM, whose index saw a greater total gain this year than both the S&P500 and the FTSE100 (as seen in the second chart below). Three of the top five IPOs for the year being DFM listed stocks likely contributed to this, as well as the notable performances of other stocks like Emaar Developments and Orascom Construction. For more insightful analysis you can trust, follow the Global Capital Partners LinkedIn page for more of our weekly analysis, as well as our research reports (which can also be found on our website). #uae #dubai #adx #dfm #abudhabi #capitalmarkets #capital #market #stock #shares #financialmarket #finance #business #economy #economics #ipo #equity #equitymarket #money #value #phoenixgroup #cryptocurrency #bitcoin #crypto #shareholder #gains #growth #investment #investing #blockchain #ai #kingdollar #foreignmarkets #federalreserve #interestrate #fiscalpolicy #monetarypolicy #tech #yield #stockpicks #dollarindex #interestrate #forex #currencies #inflation #commodities #tradeideas #credit #gcc #familyoffice #earning #banking #power #currencies #recession #commentary #comparison #gulf #gulfnews #logistics #gas #oil #drilling #ftse100 #salik #parkin #bayanat #standardandpoors #sandp500

It's time to round up 2024 and look back at the top five UAE's IPOs for the year - but from a trusted source that actually runs the data properly. The IPO pipeline has been pumping out new debutants at an unprecedented rate for the UAE and shows no signs of grinding to a halt, which understandably generates a lot of buzz. It has become very fashionable to tout around top five, top eight, top ten (etcetera etcetera) lists of which of the UAEs IPOs have been the best performing - but unfortunately, many of these lists are factually incorrect, perhaps as a result of their authors' rush to get them out there for people to see. That would be the charitable explanation. Alternatively, such authors lack the proper understanding of capital market dynamics to be writing about them in the first place, but do so anyway because it inevitably generates clicks. At GCP, we have never been afraid to call out such incorrect analysis, and we have always been careful to double-check our calculations - while this may come at the expense of speed, it does also bring with it more reliable and accurate analysis. Having said all of that, let us get to the actual round up. From the horde of UAE IPOs, the best five performing for the calendar year 2024 are seen in the first chart below, where their total returns are bifurcated for both capital and dividend gains this year. Rather unsurprisingly, all five are government-owned companies, which have across the board proven to hold more consistent value post-IPO than their private sector counterparts. It has also been a good year for the DFM, whose index saw a greater total gain this year than both the S&P500 and the FTSE100 (as seen in the second chart below). Three of the top five IPOs for the year being DFM listed stocks likely contributed to this, as well as the notable performances of other stocks like Emaar Developments and Orascom Construction. For more insightful analysis you can trust, follow the Global Capital Partners LinkedIn page for more of our weekly analysis, as well as our research reports (which can also be found on our website). #uae #dubai #adx #dfm #abudhabi #capitalmarkets #capital #market #stock #shares #financialmarket #finance #business #economy #economics #ipo #equity #equitymarket #money #value #phoenixgroup #cryptocurrency #bitcoin #crypto #shareholder #gains #growth #investment #investing #blockchain #ai #kingdollar #foreignmarkets #federalreserve #interestrate #fiscalpolicy #monetarypolicy #tech #yield #stockpicks #dollarindex #interestrate #forex #currencies #inflation #commodities #tradeideas #credit #gcc #familyoffice #earning #banking #power #currencies #recession #commentary #comparison #gulf #gulfnews #logistics #gas #oil #drilling #ftse100 #salik #parkin #bayanat #standardandpoors #sandp500

It's time to round up 2024 and look back at the top five UAE's IPOs for the year - but from a trusted source that actually runs the data properly. The IPO pipeline has been pumping out new debutants at an unprecedented rate for the UAE and shows no signs of grinding to a halt, which understandably generates a lot of buzz. It has become very fashionable to tout around top five, top eight, top ten (etcetera etcetera) lists of which of the UAEs IPOs have been the best performing - but unfortunately, many of these lists are factually incorrect, perhaps as a result of their authors' rush to get them out there for people to see. That would be the charitable explanation. Alternatively, such authors lack the proper understanding of capital market dynamics to be writing about them in the first place, but do so anyway because it inevitably generates clicks. At GCP, we have never been afraid to call out such incorrect analysis, and we have always been careful to double-check our calculations - while this may come at the expense of speed, it does also bring with it more reliable and accurate analysis. Having said all of that, let us get to the actual round up. From the horde of UAE IPOs, the best five performing for the calendar year 2024 are seen in the first chart below, where their total returns are bifurcated for both capital and dividend gains this year. Rather unsurprisingly, all five are government-owned companies, which have across the board proven to hold more consistent value post-IPO than their private sector counterparts. It has also been a good year for the DFM, whose index saw a greater total gain this year than both the S&P500 and the FTSE100 (as seen in the second chart below). Three of the top five IPOs for the year being DFM listed stocks likely contributed to this, as well as the notable performances of other stocks like Emaar Developments and Orascom Construction. For more insightful analysis you can trust, follow the Global Capital Partners LinkedIn page for more of our weekly analysis, as well as our research reports (which can also be found on our website). #uae #dubai #adx #dfm #abudhabi #capitalmarkets #capital #market #stock #shares #financialmarket #finance #business #economy #economics #ipo #equity #equitymarket #money #value #phoenixgroup #cryptocurrency #bitcoin #crypto #shareholder #gains #growth #investment #investing #blockchain #ai #kingdollar #foreignmarkets #federalreserve #interestrate #fiscalpolicy #monetarypolicy #tech #yield #stockpicks #dollarindex #interestrate #forex #currencies #inflation #commodities #tradeideas #credit #gcc #familyoffice #earning #banking #power #currencies #recession #commentary #comparison #gulf #gulfnews #logistics #gas #oil #drilling #ftse100 #salik #parkin #bayanat #standardandpoors #sandp500

It’s sometimes a fickle thing, what public memory chooses to remember. Affordability has been a constantly recurring theme, which in most parts of the world has been because the supply side has been weak to respond to the growth in demand. In the UAE, for the most part, the opposite has been occurring. Post-COVID, as prices took off, new supply followed with a vengeance - with a consequence that three years later, payment plans are even more generous than they were ever since the BNPL phenomena was introduced in real estate. Yet, the demand for housing remains insatiable, especially as developers have become financiers, making cash flow the new affordability criteria. For affordability to become the focal point as it has, perhaps market forces will take care of themselves and prices will give up some of their gains. Alternatively, perhaps, government policies may encourage affordability to kick in (as, for example, with the smart rental index), forcing developers to offer lower prices. For a more in-depth discussion of the affordability dynamics at play in the Dubai property market, find my column for Gulf News Business today below: https://lnkd.in/d453bsEp #uae #dubai #business #economics #affordability #affordable #housing #macroeconomics #money #finance #realestate #property #market #money #offplan #ready #jvc #capital #value #growth #ready #homes #trends #data #research #analytics #gcp #sameerlakhani #recession #boom #gcc #politics #power #oil #forex #inflation #emergingmarket #currency #investmentadvisory #worldeconomy #yieldcurve #banking #energy #reidin #mortgagerates #interestrate #fiscalpolicy #monetarypolicy #credit #em #emcurrency #gold #familyoffice #gccfamilyoffice #commodities #investment #investmentideas #mean #meanreversion #investors #downtown #palmjumeirah #palm #island #jumeirah #downtowndubai #village #circle #marina

Have you seen a message circulating on social media from developers warning of price hikes in 2025? This is the latest tactic being resorted to in order to drive sales in an ever-increasingly competitive market. Platforms like WhatsApp are being utilized in an attempt to stimulate buyer interest at a time of year when business typically slows down as people shift their priorities during the holiday season. Just as it is unlikely to be true that developers will actually follow through on such promises of raising prices, so too is it that buyers are unlikely to respond in any meaningful way that will result in the kind of sales boost that developers are looking for. #uae #dubai #business #economics #affordability #affordable #housing #macroeconomics #money #finance #realestate #property #market #money #offplan #ready #capital #value #growth #ready #homes #trends #data #research #analytics #gcp #sameerlakhani #recession #boom #gcc #politics #power #oil #forex #inflation #emergingmarket #currency #investmentadvisory #worldeconomy #yieldcurve #banking #energy #reidin #mortgagerates #interestrate #fiscalpolicy #monetarypolicy #credit #em #emcurrency #gold #familyoffice #gccfamilyoffice #commodities #investment #investmentideas #mean #meanreversion #investors #downtown #palmjumeirah #palm #island #jumeirah #downtowndubai #marina #international #city

Have you seen a message circulating on social media from developers warning of price hikes in 2025? This is the latest tactic being resorted to in order to drive sales in an ever-increasingly competitive market. Platforms like WhatsApp are being utilized in an attempt to stimulate buyer interest at a time of year when business typically slows down as people shift their priorities during the holiday season. Just as it is unlikely to be true that developers will actually follow through on such promises of raising prices, so too is it that buyers are unlikely to respond in any meaningful way that will result in the kind of sales boost that developers are looking for. #uae #dubai #business #economics #affordability #affordable #housing #macroeconomics #money #finance #realestate #property #market #money #offplan #ready #capital #value #growth #ready #homes #trends #data #research #analytics #gcp #sameerlakhani #recession #boom #gcc #politics #power #oil #forex #inflation #emergingmarket #currency #investmentadvisory #worldeconomy #yieldcurve #banking #energy #reidin #mortgagerates #interestrate #fiscalpolicy #monetarypolicy #credit #em #emcurrency #gold #familyoffice #gccfamilyoffice #commodities #investment #investmentideas #mean #meanreversion #investors #downtown #palmjumeirah #palm #island #jumeirah #downtowndubai #marina #international #city

It is astounding that despite the plethora of publicly available information on the UAE's IPOs, there are commentators who still get their analysis wrong. Take, for example, the trio of ADNOC IPOs, which regularly feature across analysts' lists of top performing domestic stocks. Some would have you believe that ADNOC Logistics has delivered a mammoth 127% gain since its debut - which, while impressive, is actually an understatement of the true figure of 180.3%. Even if one was to be generous to the mistaken analysts in question and grant that they perhaps had not factored in dividend returns, this still does not account for the discrepancy in what they are reporting. The inverse story is true of ADNOC Gas, which has netted investors a total return of 57.7% since its IPO, rather than the 77% figure which has been touted around. To be sure, 57.7% is still an impressive return, especially given the relatively low share price of AED 3.5/share (as of markets close on December 25th). Strangely, ADNOC Drilling is perhaps the least featured among these top performing stock lists, despite actually outperforming ADNOC Gas (and many other stocks that are more heavily featured on such lists) with a total return of 152% to date. Its omission is puzzling, especially given that many of the companies that are featured instead are reported to have far lower returns (which in and of themselves warrant auditing given the untrustworthiness of some analysts as we have proven). Whether this phenomenon is down to a lack of understanding of capital markets or sheer laziness remains a mystery. Regardless, one should always check the veracity of any commentary with basic facts before arriving at a decision. #uae #dubai #adx #dfm #abudhabi #capitalmarkets #capital #market #stock #shares #financialmarket #finance #business #economy #economics #ipo #equity #equitymarket #money #value #phoenixgroup #cryptocurrency #bitcoin #crypto #shareholder #gains #growth #investment #investing #blockchain #ai #kingdollar #foreignmarkets #federalreserve #interestrate #fiscalpolicy #monetarypolicy #tech #yield #stockpicks #dollarindex #interestrate #forex #currencies #inflation #commodities #tradeideas #credit #gcc #familyoffice #earning #banking #power #currencies #recession #commentary #comparison #gulf #gulfnews #logistics #gas #oil #drilling

It is astounding that despite the plethora of publicly available information on the UAE's IPOs, there are commentators who still get their analysis wrong. Take, for example, the trio of ADNOC IPOs, which regularly feature across analysts' lists of top performing domestic stocks. Some would have you believe that ADNOC Logistics has delivered a mammoth 127% gain since its debut - which, while impressive, is actually an understatement of the true figure of 180.3%. Even if one was to be generous to the mistaken analysts in question and grant that they perhaps had not factored in dividend returns, this still does not account for the discrepancy in what they are reporting. The inverse story is true of ADNOC Gas, which has netted investors a total return of 57.7% since its IPO, rather than the 77% figure which has been touted around. To be sure, 57.7% is still an impressive return, especially given the relatively low share price of AED 3.5/share (as of markets close on December 25th). Strangely, ADNOC Drilling is perhaps the least featured among these top performing stock lists, despite actually outperforming ADNOC Gas (and many other stocks that are more heavily featured on such lists) with a total return of 152% to date. Its omission is puzzling, especially given that many of the companies that are featured instead are reported to have far lower returns (which in and of themselves warrant auditing given the untrustworthiness of some analysts as we have proven). Whether this phenomenon is down to a lack of understanding of capital markets or sheer laziness remains a mystery. Regardless, one should always check the veracity of any commentary with basic facts before arriving at a decision. #uae #dubai #adx #dfm #abudhabi #capitalmarkets #capital #market #stock #shares #financialmarket #finance #business #economy #economics #ipo #equity #equitymarket #money #value #phoenixgroup #cryptocurrency #bitcoin #crypto #shareholder #gains #growth #investment #investing #blockchain #ai #kingdollar #foreignmarkets #federalreserve #interestrate #fiscalpolicy #monetarypolicy #tech #yield #stockpicks #dollarindex #interestrate #forex #currencies #inflation #commodities #tradeideas #credit #gcc #familyoffice #earning #banking #power #currencies #recession #commentary #comparison #gulf #gulfnews #logistics #gas #oil #drilling

Salik has been hailed as one of the top success stories amongst the growing crowd of UAE IPOs - but is there more unrealized upside yet to come? Australia's Transurban Group is one of the largest publicly listed toll operators by market cap in the world today. Since Salik's IPO on September 29, 2022, Transurban's share price has seen a modest overall gain of 11.26% - but this pales in comparison to Salik's 157.5%. The underlying reasons for this gaping discrepancy can be attributed to a number of factors, but a few notable ones might be Salik's continued innovation of cutting edge technology to minimize costs, the rapid population growth in the UAE driving greater traffic through their toll gates, and their utilization of advertisements as an additional revenue stream for the company. At the same time, Transurban has a P/E ratio of more than 2.5x that of Salik's, suggesting that even despite the astounding growth the latter has seen since its debut, it may still be undervalued. As the UAE capital markets continue to grow and Salik continues to expand, investors will (and should) no doubt keep a close eye on its performance moving forward. #uae #dubai #adx #dfm #abudhabi #capitalmarkets #capital #market #stock #shares #financialmarket #finance #business #economy #economics #ipo #equity #equitymarket #money #value #phoenixgroup #cryptocurrency #bitcoin #crypto #shareholder #gains #growth #investment #investing #blockchain #ai #kingdollar #foreignmarkets #federalreserve #interestrate #fiscalpolicy #monetarypolicy #tech #yield #stockpicks #dollarindex #interestrate #forex #currencies #inflation #commodities #tradeideas #credit #gcc #familyoffice #earning #banking #power #currencies #recession #salik #commentary #toll #australia #comparison #transurban #urban

Salik has been hailed as one of the top success stories amongst the growing crowd of UAE IPOs - but is there more unrealized upside yet to come? Australia's Transurban Group is one of the largest publicly listed toll operators by market cap in the world today. Since Salik's IPO on September 29, 2022, Transurban's share price has seen a modest overall gain of 11.26% - but this pales in comparison to Salik's 157.5%. The underlying reasons for this gaping discrepancy can be attributed to a number of factors, but a few notable ones might be Salik's continued innovation of cutting edge technology to minimize costs, the rapid population growth in the UAE driving greater traffic through their toll gates, and their utilization of advertisements as an additional revenue stream for the company. At the same time, Transurban has a P/E ratio of more than 2.5x that of Salik's, suggesting that even despite the astounding growth the latter has seen since its debut, it may still be undervalued. As the UAE capital markets continue to grow and Salik continues to expand, investors will (and should) no doubt keep a close eye on its performance moving forward. #uae #dubai #adx #dfm #abudhabi #capitalmarkets #capital #market #stock #shares #financialmarket #finance #business #economy #economics #ipo #equity #equitymarket #money #value #phoenixgroup #cryptocurrency #bitcoin #crypto #shareholder #gains #growth #investment #investing #blockchain #ai #kingdollar #foreignmarkets #federalreserve #interestrate #fiscalpolicy #monetarypolicy #tech #yield #stockpicks #dollarindex #interestrate #forex #currencies #inflation #commodities #tradeideas #credit #gcc #familyoffice #earning #banking #power #currencies #recession #salik #commentary #toll #australia #comparison #transurban #urban