From major startup funding rounds and Egypt’s growing real estate market to new international investments and reconstruction plans in Syria, the Middle East has seen several notable developments across the business world this October. With investors continuing to place big bets on regional companies and new opportunities emerging across different sectors, here’s a look at the latest business news to keep on your radar.
Vietnamese Tech Giant FPT Opens Its First African Office in Cairo
Vietnamese technology company FPT has officially opened its first office in Africa, choosing Cairo as its base to serve clients across Europe, the Middle East, and Africa. The office will debut on October 20, marking the company’s 100th office globally and first in Africa.
Located in New Cairo, FPT Egypt began operations with a team of more than 60 Egyptian employees working on software development, artificial intelligence (AI), and application support. The company plans to grow its workforce to 100 employees by the end of the year, with ambitions to reach between 300 and 500 employees over the next three to five years.
MENA Startups Set a Record of $813 million for Mega-Rounds in Q3 2026
The Middle East and North Africa’s startup scene recorded a new milestone in the third quarter of 2026, with large venture capital funding rounds reaching a record level even as smaller startups faced a tougher fundraising environment.
Three funding rounds worth more than $100 million each helped push quarterly mega-round funding to a record $813 million. These included Saudi-based fintech company Barq’s $329.5 million Series A round, Tabby’s $233 million Series F round, and mobility company Moove’s $250 million funding round.
Saudi Arabia and the UAE Account for Nearly 90% of MENA Startup Funding in 2026
Saudi Arabia and the United Arab Emirates accounted for almost 90% of the $2.98 billion raised by startups across the Middle East and North Africa during the first nine months of 2026, according to venture capital tracker MAGNiTT, as reported by Semafor on October 13.
The figures highlight how heavily regional startup investment remains concentrated in the two Gulf markets. Together, Saudi Arabia and the UAE also accounted for every funding round worth $100 million or more during the period.
MNT-Halan Launches a EGP 7.84 Billion IPO on the Egyptian Exchange
Egyptian fintech company MNT-Halan has taken a major step toward expanding its presence in the local capital market through an initial public offering (IPO) valued at EGP 7.84 billion, equivalent to approximately $149 million.
The offering was launched through MNT Tech Holding, the Egyptian business of MNT-Halan, at EGP 24.50 per share. A total of 320 million shares, representing around 20% of the company’s issued share capital, were offered to investors. The offering was divided between a public tranche of 48 million shares and a private placement of up to 272 million shares.
The report said the subscription period had closed, with trading expected to begin on the Egyptian Exchange on October 20.
Foreign Investment in Egypt’s Real Estate Sector Rises 47.4%
Foreign investment in Egypt’s real estate sector reached $2.8 billion in the fiscal year ending June 2026, marking a 47.4% increase from the $1.9 billion recorded in the previous fiscal year.
According to figures from the Central Bank of Egypt’s latest balance of payments report, the increase represents an additional $900 million in foreign real estate investment over the year.
The rise comes as Egypt continues to attract international interest in its property market while working to strengthen oversight of the sector. Government efforts include plans to regulate foreign ownership of built properties and vacant land, alongside proposed measures aimed at improving developer accountability, protecting buyers’ funds, and ensuring projects are delivered according to their contractual commitments.
Syria and the World Bank Agree on a Reconstruction Fund
Syria and the World Bank have agreed to establish a multi-donor fund to support the country’s economic recovery and reconstruction following more than a decade of civil war.
Announced on October 18, the Syria Recovery and Reconstruction Trust Fund, known as START, is designed to provide concessional financing, investment guarantees, technical assistance, and support for building institutional capacity. The World Bank will administer the fund in coordination with donors, development institutions, and partners in Syria.
The initiative aims to help restore essential services, support economic opportunities, encourage private-sector investment, and coordinate international funding for reconstruction projects.
Aqar Exit Secures EGP 10 Million Investment from Ayman Abbas for a 10% Stake
Egyptian real estate resale platform Aqar Exit has secured an offer from investor Ayman Abbas to acquire a 10% stake in the company for EGP 10 million. Founded by Mahmoud Ammar, the platform aims to address a common challenge in Egypt’s property market: homeowners who struggle to keep up with installment payments often face steep cancellation penalties or significant losses when returning their units to developers.
Aqar Exit offers an alternative by connecting sellers looking to exit their property contracts with buyers seeking units at their original contract prices, without the additional markups often associated with developers’ resale prices. By creating a secondary marketplace for these transactions, the platform aims to make property resales more accessible while helping sellers avoid unnecessary financial losses.
From record-breaking startup rounds to rising foreign investments and major reconstruction plans, the region’s business scene has plenty going on. As these developments unfold, it’s worth keeping an eye on what’s next for the Middle East’s ever-evolving economy.
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