Business & Money | Thursday 2 January, 2025 9:48 am

Al Arabia inks 10-year contract with RGA, expects SAR 694.3M revenue

Arabian Contracting Co. (Al Arabia) signed today, Jan. 1, a 10-year contract with the Roads General Authority (RGA) for advertising on intercity roads in Saudi Arabia, the company said in a statement to Tadawul. Al Arabia expects SAR 694.3 million in revenue, with the relevant...

More Details

Business & Money | Thursday 2 January, 2025 9:41 am

Al Jouf Agricultural signs SAR 160M facilities agreement with BSF

Al Jouf Agricultural Development Co. signed a bank facilities agreement with Banque Saudi Fransi (BSF) at a total value of SAR 160 million. The facilities, which are guaranteed by a promissory note, have a term of one year until Dec. 31, 2025, the company said in a statement to...

More Details

Business & Money | Thursday 2 January, 2025 9:33 am

Riyad Bank plans SAR-denominated additional Tier 1 capital sukuk issuance

Riyad Bank plans to issue SAR-denominated additional Tier 1 capital sukuk through a private placement in Saudi Arabia, under its SAR 10 billion additional tier 1 capital sukuk program. Riyad Capital was hired as the sole lead manager for the potential offer, the bank said in a statement to...

More Details

Business & Money | Thursday 2 January, 2025 9:22 am

SRC and Hassana Investment Company Sign MoU to Develop the Securitization Markets in the Kingdom

The Saudi Real Estate Refinance Company (SRC), a PIF company, has signed a Memorandum of Understanding (MoU) with Hassana Investment Company (Hassana), the investment arm company of the General Organization for Social Insurance, aiming to achieve the goals of the Kingdom of Saudi Arabia's Housing...

More Details

Business & Money | Wednesday 1 January, 2025 10:14 am

stc completes 51% stake sale in TAWAL to PIF

stc Group announced the transfer of Golden Lattice Investment Company (GLIC) ownership to a new entity. Additionally, all procedures for selling its 51% stake in TAWAL to the Public Investment Fund (PIF) were completed on Dec. 31, the telco said in a statement to Tadawul. The transaction...

More Details

Business & Money | Wednesday 1 January, 2025 10:11 am

Jabal Omar sells SAR 1.4B land plot, achieves SAR 918.3M capital gain

Jabal Omar Development Co. signed today, Dec. 31, a contract to sell a plot of land to Durat Taibah Investment Co. within its Makkah project for a total value of SAR 1.35 billion, the company said in a statement to Tadawul. The buyer will bear the real estate transaction tax and brokerage...

More Details

Business & Money | Wednesday 1 January, 2025 10:01 am

Dallah Healthcare inks SAR 195.6M SPA for undeveloped land in Al-Nakheel District

Dallah Healthcare signed a sale and purchase agreement (SPA) with Wahet Al-Nakheel Real Estate Fund for undeveloped land plots, spanning 16,800 square meters, in the Al-Nakheel District. The transaction is valued at SAR 195.65 million. In a statement to Tadawul, the healthcare services...

More Details

Business & Money | Wednesday 1 January, 2025 9:51 am

Savola’s subsidiary to exit business in Iran for SAR 705M

Savola Group signed a binding sale and purchase agreement (SPA) through its fully owned subsidiary, Savola Foods Co. to sell its entire business in Iran for SAR 705 million. In a statement to Tadawul, Savola said the agreement was signed with a foreign buyer, which is not a related party. The...

More Details

Business & Money | Tuesday 31 December, 2024 9:59 am

51Talk Student Becomes Saudi Arabia's Youngest Environmental Influencer at Impact Makers Forum

Nine-year-old Fareed Mohammed Felemban, a student of global online education platform 51Talk, delivered a compelling speech at the inaugural Impact Makers Forum, marking a significant milestone as the event's youngest speaker. The young environmental advocate from Jeddah, who previously spoke at...

More Details

Business & Money | Tuesday 31 December, 2024 9:48 am

Commerce Ministry approves Binyah capital hike to SAR 300M: Al Akaria

Saudi Real Estate Co. (Al Akaria) stated that its 60%-owned subsidiary Saudi Arabia Real Estate Infrastructure & Construction Co. (Binyah) obtained on Dec. 30 the Ministry of Commerce approval to increase capital from SAR 50 million to SAR 300 million. In a Tadawul statement, the company...

More Details