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Abu Dhabi Merger Will Create A $4.1B Space Company

Bayanat, a geospatial data provider, and Al Yah Satellite Communications will become Space42, the MENA region’s first AI-powered space-tech company.

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abu dhabi merger will create a $4.1 billion space company
Yahsat

Two Abu Dhabi companies have agreed to merge in a landmark deal that will create “Space42,” one of the world’s most valuable listed space-tech companies.

Bayanat, a geospatial data provider, and Al Yah Satellite Communications — known as Yahsat — will have a market capitalization of $4.08 billion.

“This merger will unite two leading home-grown companies to create the Mena region’s first AI-powered space technology company,” explained Tareq Al Hosani, chairman of Bayanat.

“Together, we will leverage our key synergies to reinforce our position as a key engine of growth and strategic solutions provider to the UAE government and its agencies while expanding our reach to global customers,” he added.

The proposed merger will be realized through a share swap, with Bayanat remaining a legal entity. The shareholders of Bayanat and Yahsat will own 54% and 46%, respectively, of the newly created company.

“The merger is a compelling opportunity to amplify value creation for shareholders, utilizing synergies and strategic consolidation to create a technologically advanced champion […] The enlarged entity will benefit from accelerated growth potential as a player of scale with enhanced competitive advantage,” said Musabbeh Al Kaabi, chairman of Yahsat.

Also Read: Aramex And Regent To Develop Electric Seagliders

The space sector is currently enjoying a massive surge of interest as competition hots up with more companies entering the arena. According to figures from the Space Foundation, the space economy grew by 8% to nearly $550 billion in 2022 and is projected to expand by at least another 40% over the next five years.

The UAE, currently the Arab world’s second-largest economy, has the region’s largest space sector in terms of investment size. Last year, the Emirates launched an $820 million fund to support its latest space program and a new initiative to develop high-tech radar satellites.

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Syria Just Got Its First Super App Featuring Built-In Digital Payments

Built by UAE-based Syrian founders with the Ministry of Tourism’s backing, My Syria lands as visitor numbers more than double.

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syria just got its first super app featuring built-in digital payments

For most of the past decade, paying for anything in Syria with an international card was effectively impossible. Sanctions, a collapsed banking sector, and years of isolation left the country running on cash. That is what makes the launch of My Syria — the country’s first super app — more than a routine product announcement.

Developed by 121 Living, a company founded by four UAE-based Syrian entrepreneurs — Rami Kaiem, Feras Kaiem, Waseem Qudmani, and Kinan Madi — the app launched in Damascus on July 30 under the patronage of Minister of Tourism Mazen Al-Salhani. It bundles hotels, restaurants, transport, attractions, food delivery, and other lifestyle services into a single platform, currently offering eight services with plans to expand to more than 40 verified tourism and hospitality providers across the country.

Although the app already sounds enticing, the headline feature is its built-in payments. My Syria is the first platform in Syria to support cross-border digital payments through Apple Pay, Google Pay, Visa, Mastercard, and American Express — familiar tools for international visitors, and a route into the digital economy for local businesses that have long operated outside it.

my syria super app launch event

The launch rides on a sharp rebound for the troubled country. Syria’s tourism sector recorded 3.52 million visitor arrivals in the first half of 2026, a 111 percent increase over the 1.67 million during the same period in 2025 — a mix of returning expatriates, regional visitors, and international tourists.

Also Read: This UAE Platform Wants To Replace Fashion Photo Shoots With AI

The Ministry of Tourism, which supported and supervised the app’s development, frames the launch as proof of concept for a wider strategy. “Digital transformation is one of the Ministry’s strategic priorities because it enables us to build a more competitive, connected and investment-ready tourism sector,” Al-Salhani said, inviting technology companies “globally, regionally and locally” to explore opportunities across the wider economy.

For 121 Living, this is phase one, with additional services and expanded geographic coverage planned. Whether a super app can flourish in a market still rebuilding its infrastructure is an open question, but for the first time in years, a visitor to Damascus can pay for dinner with their phone.

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