��������

DUBAI: UnifyApps has raised $50 million in Series B funding to expand development of its enterprise platform designed to osimplify the implementation of AI across corporate systems.

According to the company, the move comes at a critical time when it is looking to expand it’s Gulf teams – as the region experiences a boom in AI investment and development.

Unify Apps already leds projects for Abu Dhabi Department of Gov Enablement, Air Arabia, Digital Dubai Authority, Department of Digital Ajman, Department of Economy & Tourism, Smiles by E&

The round was led by WestBridge Capital with participation from ICONIQ and other investors, bringing the company’s total funding to $81 million.

The company also announced that enterprise software veteran and early investor Ragy Thomas will join UnifyApps as chairman and co-chief executive officer, working alongside co-founder and CEO Pavitar Singh.

“In the UAE and ��������, governments are advancing landmark national plans such as UAE’s AI Strategy 2031 and ��������’s National Strategy for Data & AI (NSDAI), which places AI, data governance and digital transformation at the heart of their future growth. Every software workflow and core business process, from finance to supply chain, HR to healthcare, will be reimagined with AI at its core,” Thomas said in a satement.

“UnifyApps is building the platform that will enable enterprises in the Gulf to fulfil those visions.”

UnifyApps’ platform is intended to address the challenge with scaling generative AI projects beyond small pilots. According to the company, difficulties are often due to the inability of large language models to access fragmented systems of record and internal knowledge sources, as well as an absence of integration with workplace systems where tasks are actually executed. As a result, the company says enterprises can accumulate multiple disconnected AI applications that require separate integrations, adding cost and complexity.

UnifyApps markets its software as an “Enterprise Operating System for AI,” positioned to unify data sources, business processes, and AI models.

RIYADH: Robust tourism growth is set to expand the hospitality market in the Middle East and North Africa from $310 billion in 2025 to more than $487 billion by 2032, a new report showed. 

Released by the Future Hospitality Summit ahead of its gathering in Dubai from Oct. 27 to 29, the report cites data from the World Travel and Tourism Council and notes that the travel and tourism sector is expected to contribute $367 billion to the Middle East economy this year while supporting 7.7 million jobs. 

Quoting industry experts, it adds that unprecedented expansion in hospitality, tourism, and infrastructure is reinforcing the region’s position as a global magnet for investment. 

Developing a robust tourism sector is crucial for oil-rich Middle Eastern countries as they pursue economic diversification and reduce reliance on crude revenues. �������� aims to attract 150 million tourists annually by 2030, while Egypt targets 30 million international visitors by 2028. 

Amr El-Nady, head of hotels and hospitality Middle East and Africa and managing director, global hotel desk at JLL, said: “Both nations are seeking to significantly increase tourism’s contribution to their gross domestic product, with �������� targeting 10 percent and Egypt 15 percent.” 

He added: “This strategic focus is driving substantial hospitality investment, with mega-projects like NEOM, the Red Sea Project, and AlUla in KSA, alongside Egypt’s New Administrative Capital, Ras Al Hekma, South Med and Red Sea developments.” 

According to the report, international visitor spending in the Middle East is expected to reach nearly $194 billion this year, up nearly a quarter from 2019 pre-pandemic levels, while domestic spending is forecast to hit $113 billion.

�������� leads growth

As of the second quarter of 2025, the hotel construction pipeline in the Middle East reached an all-time high of 650 projects, totaling 161,574 rooms.

At the end of June, 337 projects with almost 86,500 rooms were under construction, and 147 projects are due to start by the second quarter of next year. 

�������� tops the Middle East hotel construction chart, with more than 92,000 rooms across 342 projects, followed by Egypt with 127 projects and over 28,000 rooms. 

The UAE has 100 projects with 25,470 rooms, Oman 27 projects with 4,709 keys, and Qatar 16 projects with nearly 3,500 rooms. 

El-Nady said the surge in development is creating opportunities for both major international hotel operators and boutique brands to diversify their portfolios with concepts ranging from ultra-luxury desert resorts to culturally immersive heritage properties. 

“The diversification strategy allows operators to cater to evolving traveler preferences while supporting the countries’ objectives of transforming their economies through sustainable tourism growth and positioning themselves as premier global destinations,” added El-Nady. 

Upcoming global events such as Expo 2030 and the FIFA World Cup 2034 in �������� are already boosting strong demand for real estate, including hospitality projects. 

From January 2026, foreigners will also be able to purchase real estate assets in designated zones — a landmark development expected to further deepen investor appetite in the Kingdom. 

JLL added that liquidity in the hotel investment landscape in the Middle East remains remarkably robust, underpinned by resilient hotel trading performance and increasing tourist arrivals.

UAE maintains momentum 

El-Nady noted that the UAE’s hospitality market continues to attract strong interest from regional and international investors seeking high-yielding, income-generating hotel assets and mixed-use developments. 

“Last year, JLL forecasted $1.2 billion in Dubai hotel transactions, and current market activity indicates we are on track to exceed this milestone, further demonstrating sustained investor confidence,” he said. 

Citing data from Cavendish Maxwell, a real estate advisory group, the report added that Dubai’s hospitality market continues to outperform, with around 10,000 new rooms expected by 2027. 

Vidhi Shah, director, head of commercial valuation at Cavendish Maxwell, said that the occupancy level in hotels in Dubai rose to 81 percent in the first half of this year, representing a 2.5 percent rise compared to the same period in the previous year, while average daily rents reached $159, up 4.7 percent. 

“With its hospitality sector continuing to lead the way in setting new benchmarks in safety, inclusivity and connectivity, Dubai remains a premium, global destination for leisure and business travelers, in turn opening up a plethora of new investment opportunities,” said Shah. 

The report added that Oman is also increasingly becoming a hot spot for hospitality investment, with tourism expected to contribute 5 percent to GDP by 2030 and 10 percent by 2040. 

Oman’s hospitality industry is also expected to overtake transport and logistics to become the country’s second most important industry after hydrocarbons.

Data from Cavendish Maxwell revealed that Oman is set to boost hotel room inventory by 25 percent by 2030, with 9,600 new keys on the way in the next five years, and 2,600 by the end of 2025. 

The report further said that hotel revenues in Oman rose more than 18 percent year on year to $367 million. 

The strong performance also led to almost 5 percent growth in Oman’s hospitality employment, with 10,800 people now working in the industry.

“The Middle East’s continued growth in tourism and hospitality is being further boosted by various government campaigns and initiatives across the region to encourage investment, international visits and business set up,” the report concluded. 

In September, a report by GCC Statistical Center said that tourism across the Gulf Cooperation Council contributed $247.1 billion to the region’s economy in 2024, marking a nearly 32 percent increase compared with 2019. 

The center further said that intra-GCC travel experienced a sharp rebound, rising 52 percent over the same period, with 19.3 million visitors traveling between member states.

In July, another report by the Saudi Central Bank revealed that international tourists spent SR49.37 billion ($13.16 billion) in �������� during the first quarter of 2025, a 10 percent increase compared to the same period last year. 

The bank added that this rise pushed the Kingdom’s travel account surplus to SR26.78 billion, up 11.7 percent year on year, underlining the sector’s growing contribution to the country’s non-oil economy.