DWTC aims to lead in Metaverse with launch of first regional incubator

The Dubai World Trade Center has become a comprehensive district and regulator for virtual assets and crypto in line with the Dubai government’s digital strategy. File
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Updated 12 April 2022
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DWTC aims to lead in Metaverse with launch of first regional incubator

RIYADH: MetaIncubator, the first Metaverse incubator in the Middle East, started operations at the Dubai World Trade Center, known as DWTC.

MetaIncubator aims to support early stage projects at the DWTC, which provides engineering, tokenomics, marketing, and investment services to startups. 

DWTC has become a comprehensive district and regulator for virtual assets and crypto.

“MetaIncubator will join that effort to help build the Metaverse and Web3 ecosystems in Dubai. Its plan is to start with Dubai and serve the UAE and then continue to all GCC countries,” Sam Lai, the founder and CEO of MetaIncubator said. 

Metaverse is a network of 3D virtual worlds focused on social connection. 

Lai added: “It will help attract foreign Metaverse and Web3 projects to move into the region in order to help double the size of UAE’s digital economy from its current worth of over 100 billion dirhams. 

“Achieving sustainability through high-tech job creation, honing talents, and foreign investments and potentially make UAE the top Metaverse and Web3 development center in the world.” 

“We are very technology-driven when picking startups and hope to leverage our extensive experience in startup building and investing to curate the best Metaverse and Web3 projects that pass through the Dubai ecosystem and help them grow not just locally but also internationally,” the CEO added.


Closing Bell: Saudi main index closes in red at 11,183

Updated 16 February 2026
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Closing Bell: Saudi main index closes in red at 11,183

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Monday, losing 44.79 points, or 0.4 percent, to close at 11,183.85.

The total trading turnover of the benchmark index was SR4.05 billion ($1.08 billion), as 69 of the listed stocks advanced, while 191 retreated.

The MSCI Tadawul Index decreased, down 6.63 points or 0.44 percent, to close at 1,504.73.

The Kingdom’s parallel market Nomu lost 328.20 points, or 1.36 percent, to close at 23,764.92. This comes as 22 of the listed stocks advanced, while 49 retreated.

The best-performing stock was Maharah Human Resources Co., with its share price surging by 7.26 percent to SR6.50.

Other top performers included Arabian Cement Co., which saw its share price rise by 6.27 percent to SR22.71, and Saudi Research and Media Group, which saw a 4.3 percent increase to SR104.30.

On the downside, the worst performer of the day was Arabian Internet and Communications Services Co., whose share price fell by 8.01 percent to SR207.80.

Jahez International Co. for Information System Technology and Al-Rajhi Co. for Cooperative Insurance also saw declines, with their shares dropping by 5.61 percent and 4.46 percent to SR12.79 and SR75, respectively.

On the announcement front, Etihad Etisalat Co. announced its financial results for 2025 with a 7.9 percent year-on-year growth in its revenues, to reach SR19.6 billion.

In a Tadawul statement, Mobily said that this growth is attributed to “the expansion of all revenue streams, with a healthy growth in the overall subscriber base.”

Mobily delivered an 11.6 percent increase in net profit, reaching SR3.4 billion in 2025 compared to SR3.1 billion in 2024.

The company’s share price reached SR67.85, marking a 0.37 percent increase on the main market.