Business & Money | Thursday 30 May, 2024 9:36 am

Saudi Arabia to launch Aramco’s secondary offering on June 2: Report

Saudi Arabia is set to formally launch a secondary offering of Saudi Aramco on June 2, Bloomberg reported, citing unnamed sources with knowledge of the matter. The government plans to run a book-building process to gather investor orders until June 6. The stock sale has already...

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Business & Money | Thursday 30 May, 2024 9:32 am

Mayar plans SAR 500M convertible sukuk issuance

Mayar Holding Co.’s board of directors recommended on May 29 issuing SAR 500 million worth of sukuk for 24 months. The company aims to finance working capital and capital expansions, Mayar said in a statement to Tadawul. The issuance will be in several tranches, to be determined later...

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Tourism & Hospitality | Thursday 30 May, 2024 9:24 am

Diriyah Company Launches Hospitality Training Program for the Bab Samhan Hotel

Diriyah Company has announced a major strategic partnership with Marriott International targeting the upskilling of local talent. This collaboration will deliver a specialized training program to prepare young Saudi candidates for employment at the soon-to-be-opened Bab Samhan hotel, a Luxury...

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Business & Money | Wednesday 29 May, 2024 11:50 am

GAS signs 2 contracts worth SAR 761M with Aramco

GAS Arabian Services Co. (GAS) signed on May 29 two contracts with Saudi Arabian Oil Co. (Saudi Aramco) at a total value of SAR 761 million. In separate statements to Tadawul, GAS said the first engineering, procurement and construction (EPC) contract is for work on the Master Gas System...

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Business & Money | Wednesday 29 May, 2024 9:58 am

Real Estate Market records over SAR 538.9B deals YTD: Justice Ministry

Saudi Arabia’s Real Estate Market recorded more than SAR 538.9 billion worth of deals year to date, Al-Eqtisadiah newspaper reported, citing the Ministry of Justice. A total of 244,000 transactions have been executed including registrations, the consolidation and sorting of real estate...

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Sports | Tuesday 28 May, 2024 10:17 am

“SPORTS BOULEVARD” DOUBLES THE VALUE OF PRIVATE REAL ESTATE INVESTMENT FUNDS FOR THE ARTS DISTRICT TO REACH SAR 2 BILLION

The "Sports Boulevard" Foundation has announced with Ajdan Real Estate Development Company and Albilad Capital to double the value of the private real estate investment fund, currently valued at SAR 1 billion, by an additional SAR 1 billion; bringing the total value of the fund to SAR 2 billion,...

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Business & Money | Tuesday 28 May, 2024 9:47 am

SRC Extends its Refinancing Agreement with arab national bank (anb) with an Additional SAR 500 million

The Saudi Real Estate Refinance Company (SRC), a Public Investment Fund (PIF) company, has extended its refinancing agreement with arab national bank (anb) with an additional SAR 500 million. This is the second refinancing agreement between both entities.  The agreement was signed by...

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Business & Money | Tuesday 28 May, 2024 6:02 am

Aramco interested in buying minority stake in Repsol's renewable unit: Report

Saudi Aramco showed interest in acquiring a minority stake in the renewable unit of Spanish oil company Repsol, Reuters reported, citing two people familiar with the matter. Repsol has opened its renewable projects to investors willing to take minority stakes in portfolios of wind farms and...

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Business & Money | Monday 27 May, 2024 1:51 am

NEW MURABBA'S ICONIC MUKAAB OPENS PARTNERSHIP DOORS TO WORLD-CLASS CONTRACTORS

The New Murabba Development Company – Owned by Public Investment Funds, is inviting the world’s leading contractors to take part in bringing its groundbreaking Mukaab to reality. An icon and cornerstone of Riyadh's New Murabba mixed-use development, the Mukaab will feature the latest immersive...

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Business & Money | Monday 27 May, 2024 1:44 am

Aramco plans sale of nearly $10B shares: Report

Saudi Arabia is planning a $10 billion share sale in Aramco, Reuters reported.The share sale is expected to take place as soon as June in what would be one of the region's biggest stock deals.The preparations are ongoing and the details could still change, two sources said. ...

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