-
Statutory Audit
We conduct an integrated audit, which combines the financial statement audit,independent and objective assurance on financial information, transactionsand processes.
-
Limited Review
We offer services relating to reviews of historical financial informationby expressing negative assurance on such historical financial information.
-
Agreed Upon Procedures
We engage with organisationsto perform specific procedures and report findings to conform to their needs.
-
Financial Reporting Advisory Services (FRAS)
Our team provides timely advice on the impact of accounting changes to assist businesses in the development of an appropriate implementation roadmap.
-
Business Consulting
Grant Thornton UAE provides organisations with implementable plans that drive sustainable growth strategies to grow and optimise their business performance.
-
Business Risk Services
Organisations need to understand risks thoroughly to be able to manage them better. Grant Thornton UAE helps businesses achieve the best balance between minimising risk exposure, optimising profitability and developing compliance review checklists.
-
Regulatory Advisory Services
Grant Thornton UAE's extensive understanding of the overarching supervisory framework within the region equips our professionals to support financial institutions comply and abide by the set of regulatory mandates throughout the rapidly evolving ecosystem.
-
Financial Advisory
Grant Thornton UAE works with organisations on transactions from start to finish, assisting with strategy, identifying risks, executing deals, and helping to unlock their potential for growth and value creation.
-
Restructuring Advisory
Grant Thornton UAE is committed to realising value for shareholders, in a way that recognises and supports the interests of all stakeholders. Our solutions maximise value, provide clarity and direction, and accelerate recovery and transformation for businesses.
-
Technology Advisory & Cybersecurity
IT and technology are fundamental to drive the performance of businesses. Through leveraging the power of technology, Grant Thornton UAE helps organisations define and identify growth opportunities to achieve value-driven transformation and innovation.
-
Forensics
Fraud and corruption pose a growing challenge worldwide. As the commercial landscape changes, an increasingly regulated environment requires stringent governance and compliance processes. Grant Thornton UAE helps organisations navigate challenges and crisis with a hands-on approach coupled with the use of technology.
-
ESG Services
The Environment, Social and Governance (ESG) agenda has gained significant traction over the years, to become one of the key strategic aspects of any business. It is imperative that all organisations, irrespective of industry sector, engage with their stakeholders and prioritise ESG practices to unlock sustainable growth opportunities.
-
Business Process Solutions
Our team at Grant Thornton offers comprehensive and cost effective outsourced solutions, enabling stakeholders and business owners to focus on their core business goals.
-
Corporate Tax
Our diversified team of corporate tax subject matter experts combines a perfect blend of international experience across several industry sectors, technical expertise, and commercial nuances with a commitment to deliver exceptional value to your business.
-
VAT
The VAT team at Grant Thornton is well versed with the VAT Laws applicable across the region and holds valuable experience and professional accreditation in assisting clients across diverse industries to comply with the VAT obligations.
-
Transfer Pricing
Grant Thornton UAE assists its clients in providing transfer pricing solutions that are implementable and operational, considering the facts and concerns of its clients.
-
International Tax and Tax Due Diligence
Grant Thornton UAE supports multinational groups to optimise their tax structures. We can also assist businesses in analysing existing group transactions and inter-group supplies, as well as advising on potential implications of various taxes to facilitate an efficient Group tax structure.
-
Economic Substance Requirements
Economic Substance rules were introduced in the UAE in 2019, requiring UAE businesses that undertake certain ‘Relevant Activities’ to maintain and demonstrate adequate substance.
-
Customs and International Trade
The team at Grant Thornton is positioned centrally to assist the businesses with global cross-border tax structuring, planning and compliance needs.
-
Excise Tax
We provide Excise Tax related advisory and compliance services to the producer, importer, and the storekeeper of excisable goods
GCC to lead the Mena region in mergers and acquisitions transactions in 2024
The momentum transcends traditional sectors, with robust deal activities observed in established areas
Mergers and acquisitions (M&A) activity in the Middle East and North Africa (Mena) region maintained strong momentum throughout 2023, reaching a total deal value of $86 billion, even as global M&A activity decreased by 15 per cent during the same period.
The GCC region dominated, representing 97 per cent of the total deal value. Despite facing challenges from geopolitics, the region exhibited remarkable resilience, largely attributable to effective governance by individual country governments.
The UAE and Saudi Arabia have emerged as beacons within the GCC, attracting substantial capital thanks to proactive government policies aimed at economic diversification beyond oil, fostering a fertile ground for investment. This strategic approach, bolstered by the financial strength of Sovereign Wealth Funds (SWFs) and active family offices, has propelled a surge in both domestic and cross-border M&A activities.
The momentum transcends traditional sectors, with robust deal activities observed in established areas such as real estate, hospitality and infrastructure, alongside growing sectors aligned with global trends such as technology, renewable energy, and healthcare. This diversification, coupled with increased outbound investments, a regional tourism boom, and continued infrastructure development, positions the GCC not only to retain its leadership in Mena M&A, but emerge as a prominent force in the global M&A market in 2024.
Increased outbound investments
The GCC is witnessing a surge in outbound investments, indicative of its strong economic performance and growing investor confidence. SWFs such as the Abu Dhabi Investment Authority (ADIA), the Public Investment Fund (PIF) of Saudi Arabia and the Qatar Investment Authority (QIA), alongside prominent investment holding entities like Mubadala, Dubai Holding, ADQ, and Alpha Dhabi, have been leading this trend, consistently driving deal activities within the Mena region.
Additionally, the GCC’s domestic M&A market remains buyout, reflecting overseas investor confidence in the region’s growth prospects and maturing business environment. This is evident in deals such as Brookfield Business Partners’ acquisition of UAE-based payments-processing company Network International for £2.2 billion ($2.76 billion), as part of its Middle East expansion.
The GCC tourism landscape in full bloom
In 2023, the GCC region experienced a significant rise in tourist activities, highlighted by Dubai’s Department of Economy and Tourism (DET) reporting a record 19.4 per cent year on year growth in international visitors, surpassing pre-pandemic levels. This influx not only bolstered the hospitality sector but also drove significant growth in the dynamic Food and Beverage (F&B) industry. Recognising the vast market potential, investors, including private equity firms, are actively investing in the F&B landscape, leveraging trends such as sustainability, immersive dining experiences, and an increasing focus on local sourcing and robust food security infrastructure, catering to the evolving preferences of tourists and residents alike.
With the influx of both tourists and investor capital, the market is ripe for M&A in 2024. Notable examples include the acquisition of Black Spoon Group by KSA-based Jadwa Investment and the acquisition of Sushi Samba restaurant by investment firm Shamal Holding. As organisations seek to deploy capital and sellers look to sell after a hiatus, there are continued signs of positivity in the market. This positivity is exemplified in transactions such as ADQ-backed Silal’s majority acquisition of SAFCO group, a leading F&B distributor, to fortify its supply chain as part of its food security agenda.
Investment in infrastructure beyond bricks and mortar
The GCC is leveraging M&A to bolster its infrastructure beyond traditional sectors. Healthcare advancements are further propelled by deals like ADQ’s acquisition of Aster DM Healthcare, a leading healthcare provider. Similarly, the education sector witnessed the consolidation of institutions forming Khalifa University in Abu Dhabi. Renewable energy is gaining significant traction, with strategic acquisitions playing a key role. For instance, BlackRock agreeing to invest up to $400 million in Dubai-based decarbonisation company Positive Zero, a decentralised decarbonisation infrastructure business, demonstrates the region’s commitment to clean energy solutions, boosting energy transition projects in Gulf countries.
This strategic focus on healthcare, education, renewable energy and traditional infrastructure, facilitated through M&A activity, positions the GCC not only to attract talent, foster innovation, and solidify its regional leadership in infrastructure development, but also lays the foundation for it to become a global powerhouse across all fronts.
2024 outlook
Building on a strong 2023, the GCC’s M&A landscape in 2024 exudes optimism. Flush with capital, SWFs, family offices, and corporations are eager to deploy resources. This strong appetite is evident in the strong deal activity witnessed in Q1 2024, with a significant number of deals underway and the promise of more to come. This momentum, coupled with a positive economic outlook, positions the GCC as a major player in the Mena region’s M&A landscape.
-
![Salmaan Khawaja]()
Salmaan Khawaja Salmaan has acted as lead advisor across a range of international transactions for over 15 years originating, implementing and successfully completing M&A and investment opportunities involving companies across North America, Far East, Europe, Middle East, Pakistan, India and Africa.View Profile
