DUBAI: The first day of the GITEX Technology week kicked off on Sunday in an exhibition that centered around the “rise of smart cities,” with innovation’s front runners from all around the world showcasing what they have to offer.
“We live in a world where all emerging tech is coming together, from blockchain, to drones to automation,” blockchain influencer, Kris Bennet (aka Blockchain Beard Guy) said during opening remarks at the forum, adding that “it’s all heading toward smart cities.”
Bennet also said: “We have seen more change happen in the past 10 years than we ever have.”
Sprawling across Dubai’s massive World Trade Center area, the GITEX stands range from young start-ups hoping to lure sponsors to well-established businesses staying ahead of their competitors with the latest innovations and solutions.
The 38th annual exhibition is split among several categories including, Gulf Comms & Mobility, Global Solution Providers, Smart Workplace & Smart Homes, Value Added Distributors, Printing & Automation, Consumer Tech, Enterprise Software, Network & Security, Future Tech and IOT Big Cloud Data.
One of the more crowded stands was that of digital creative development non-profit MUTEK AE. The stand was a large, white igloo structure standing at the edge of Za’abeel Hall 6 that, upon entering, turns into a journey of lights and sounds that transports visitors into another world.
“It’s bringing together technology and art in an immersive and interactive experience,” Micro MUTEK AE general and artistic director Mehdi Ansari said.
Many country’s pavilions were seen grouping several start-ups across the hall floors, with Lebanon, Bahrain, Japan and South Korea having a considerable presence — showcasing wide-ranging projects from Bluetooth headphones to diet food home deliveries.
GITEX Technology week runs from Oct. 14 — 18, with GITEX Future Stars taking place from the the 14th-17th.
Smart cities at the center of Dubai’s GITEX Technology week
Smart cities at the center of Dubai’s GITEX Technology week
- The first day of the GITEX Technology week kicked off on Sunday
- Exhibition centered around the “rise of smart cities”
PIF-backed AviLease achieves revenue of $664m and 19% growth in 2025
RIYADH: Saudi Arabia’s Public Investment Fund-backed AviLease achieved exceptional performance and sustainable business growth during 2025, supported by the strategic expansion of its global platform.
According to its financial results for 2025, AviLease recorded total revenues of $664 million, an annual increase of 19 percent, driven by disciplined growth in its asset portfolio and strong performance in aircraft remarketing amid sustained global demand for modern, fuel-efficient aircraft, the Saudi Press Agency reported.
Profit before tax doubled compared to the previous year, reaching $122 million. The year witnessed an expansion in AviLease’s portfolio, reaching 202 owned and managed aircraft, leased to over 50 airline companies in more than 30 countries.
The total value of the company’s assets stabilized at $9.3 billion. AviLease maintained a 100 percent fleet utilization rate, reflecting the resilience of its business model, the efficiency of its asset management, and the strength of its strategic relationships with airlines around the world.
AviLease concluded purchase agreements for aircraft from Airbus, including the A320neo family and A350F, and Boeing 737 aircraft, aiming to enhance its future asset portfolio with modern, fuel-efficient aircraft. This step will contribute to supporting future growth and meeting increasing customer demand for the latest aircraft, aligning with the Kingdom’s ambitions to become a leading global aviation hub.
AviLease strengthened its prestigious credit standing by obtaining a strong Baa2 credit ratings from Moody’s and BBB from Fitch, reflecting its financial solidity, managerial discipline, and efficiency in managing leverage. The company also successfully issued senior unsecured bonds worth $850 million last November under Regulation 144A/RegS. This issuance contributed to diversifying its funding sources and enhancing its financial flexibility.
Commenting on the results, AviLease CEO Edward O’Byrne said: “This exceptional performance reflects the quality of the company’s investment portfolio, the strength of its partnerships with airlines, and its strategic focus on responsibly deploying capital into highly sought-after, efficient, modern aircraft assets.”
He added: “As aviation markets continue to grow, AviLease is strategically positioned to continue its expansion plans and deliver sustainable long-term value for shareholders, contributing to the Kingdom’s ambitions.”
Throughout 2025, AviLease continued to play a pivotal role in the Kingdom’s growing aviation sector and contributed directly to the launch and scaling of the new national carrier, Riyadh Air, by completing a sale and leaseback transaction for a Boeing 787-9 aircraft, which thereby became the first aircraft to join the airline’s fleet.
AviLease also established a strategic partnership with Hassana Investment Co. This partnership aims to provide an opportunity for local and international investors to enter the aircraft financing asset class and benefit from AviLease’s technical expertise and operational capabilities to support partnership growth and enhance performance.
Hassana Investment Co. has agreed to acquire an initial portfolio of 10 modern aircraft from AviLease.
