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07 June 12:42 AM

Real Estate

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5 June 11:34 AM Banan Real Estate requests transiting to Tadawul’s main market
Riyadh – Mubasher: Banan Real Estate Company has submitted a request to transition to the main market of the Saudi Exchange (Tadawul). The request was submitted on 4 June 2024 through the market's online portal, according to a bourse filing. Banan …
Real estate
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28 May 03:57 PM Dubai Industrial City boosts regional presence via AED 410m land capacity expansion
Dubai – Mubasher: Dubai Industrial City, part of Tecom Group, has officially launched 13.90 million sq.ft of additional land capacity within its ecosystem, according to a press release. The additional land capacity was acquired through a AED 410 …
Global Economy
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28 May 01:12 PM Al Akaria’s board accepts CEO's resignation
Riyadh – Mubasher: The board of Saudi Real Estate Company (Al Akaria) has accepted the resignation of Ibrahim bin Mohamed Alalwan from his position as CEO and Managing Director. The resignation, dated 27 May 2024, was ascribed to personal reasons, …
Real estate
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27 May 12:41 PM UAE-based Holo raises fund to expand in Saudi Arabia
UAE – Mubasher: Holo, a direct mortgage platform in the UAE, has completed a pre-Series A funding round with oversubscription.  The round was led by Dubai Future District Fund (DFDF), UK’s Oryx fund, and Aditum Investment Management., according to …
Real estate
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27 May 11:14 AM Plaza Premium Group announces $100m expansion plans in Middle East
Mubasher: Plaza Premium Group (PPG) has invested $100 million to expand its presence in the Middle East with a major focus on Saudi Arabia. This investment aims to anchor the group’s role as a connector between the Middle East and popular global …
Global Economy
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22 May 10:47 AM National Housing Company signs 20 agreements at Real Estate Supply Chains Forum
Riyadh – Mubasher: Saudi Arabia’s National Housing Company (NHC) has inked 20 agreements with local and international companies on the sidelines of the Real Estate Supply Chains Forum. The agreements are aimed at investing in industrial and …
Event
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21 May 10:54 AM Retal’s subsidiary inks SAR 2.8bn deal with PIF-owned Roshn
Riyadh – Mubasher: Building Construction Company Limited, a subsidiary of Retal Urban Development Company, was awarded a SAR 2.89 billion project contract with Roshn Group. The listed company’s unit inked the deal with Roshn, owned by the Saudi …
Companies Investments
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20 May 11:50 AM Riyadh's office market draws increasing demand – Report
Riyadh – Mubasher: The real estate office market in Riyadh has maintained good momentum in the first quarter of 2024 despite macroeconomic challenges, according to a report by real estate company Savills. The rise in Grade A offices is set to …
Macroeconomics
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19 May 12:59 PM Retal inks SAR 660m agreements with Saudi Arabia's National Housing Company
Riyadh – Mubasher: Retal Urban Development Company has signed SAR 660 million sub-development agreements with Saudi state-owned National Housing Company to develop 295 residential Units in the Murcia zone in Riyadh's Khozam suburb. The two …
Companies Investments
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19 May 10:02 AM Alandalus Property’s profits down to nearly SAR 5m in Q1-24
Riyadh – Mubasher: Alandalus Property Company logged net profits valued at SAR 4.72 million in the first quarter (Q1) of 2024, lower by 66.90% than SAR 14.26 million a year earlier. Revenues declined by 2.69% year-on-year (YoY) to SAR 53 million …
Real estate
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19 May 09:25 AM Dar Al Arkan records 30.5% leap in Q1-24 profits
Riyadh – Mubasher: The net profits of Dar Al Arkan Real Estate Development Company increased by 30.57% to SAR 153.59 million in the first quarter (Q1) of 2024 from SAR 117.63 million in Q1-23. The Saudi firm posted a 13.16% year-on-year (YoY) …
Real estate
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16 May 11:40 AM Cenomi Centers’ profits drop 52% YoY in Q1-24; dividends proposed
Riyadh - Mubasher: Arabian Centres Company (Cenomi Centers) logged a 52.16% year-on-year (YoY) plunge in net profit to SAR 185.60 million in the first quarter (Q1) of 2024 from SAR 388 million. Revenues grew 1.56% YoY to SAR 585.80 million in …
Real estate
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14 May 11:06 AM Emaar The Economic City sustains 106% YoY higher loss in Q1-24; accumulated losses near SAR 5.3bn
Riyadh – Mubasher: Emaar The Economic City incurred a net loss of SAR 352 million in the first quarter (Q1) of 2024, up 105.84 year-on-year (YoY) from SAR 171 million. Revenues plunged 52.22% YoY to SAR 75 million in Q1-24 from SAR 157 million, …
Financial Results
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12 May 04:44 PM NHC, TMG break ground on SAR 40bn Banan City project in Saudi Arabia
Riyadh – Mubasher: Saudi Arabia’s National Housing Company (NHC), in collaboration with Talaat Moustafa Group Holding Company (TMG Holding), has laid the foundations for the Banan City project in Riyadh with SAR 40 billion (approximately $12 …
Companies Investments
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12 May 12:31 PM Al Akaria’s Binyah pens SAR 532m agreement for excavation works
Riyadh – Mubasher: Saudi Real Estate Infrastructure Company (Binyah), a subsidiary of Saudi Real Estate Company (Al Akaria), has signed an agreement with Diriyah Gate Company Limited (DGCL). The SAR 532.05 million agreement includes the …
Real estate
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9 May 04:45 PM Sumou Real Estate obtains CMA approval for capital raise
Riyadh – Mubasher: Sumou Real Estate Company has received the Capital Market Authority’s (CMA) nod for increasing its capital to SAR 500 million from SAR 375 million, according to a bourse filing. Upon the decision of the regulatory authority, …
Real estate
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9 May 04:23 PM Retal’s Q1-24 net profits leap 50%; revenues cross SAR 500.5m
Riyadh – Mubasher: The net profits after tax of Retal Urban Development Company hiked by 49.92% to SAR 62.28 million in the first quarter (Q1) of 2024, versus SAR 41.54 million in Q1-23. The Saudi firm generated  revenues valued at SAR 500.63 …
Real estate
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8 May 05:25 PM Riyadh Development records 117.5% jump in Q1-24 net profits
Riyadh – Mubasher: The net profits of Riyadh Development Company, formerly known as Arriyadh Development, soared by 117.56% to SAR 70.49 million in the first quarter (Q1) of 2024 from SAR 32.40 million in Q1-23. The earnings per share (EPS) rose …
Financial Results
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8 May 11:53 AM Jabal Omar Development’s board nods for CEO resignation
Riyadh – Mubasher: The board of Jabal Omar Development Company has accepted the resignation of Khalid Mohammed Al Amoudi from his position as CEO. Al Amoudi is set to resign on 30 May 2024, according to a bourse filing. The company’s board …
Real estate
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7 May 09:11 AM Al Akaria reports plunge in Q1-24 net profits, accumulated losses
Riyadh – Mubasher: Saudi Real Estate Company (Al Akaria) witnessed 67.41% year-on-year (YoY) lower net profits at SAR 2.90 million in the first quarter (Q1) of 2024, compared to SAR 8.90 million. The Saudi firm posted revenues amounting to SAR …
Financial Results
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1 May 01:33 PM Rua Al Madinah, Hilton ink deal to open 3 hotels
Riyadh - Mubasher: Rua Al Madinah Holding has signed an agreement with Hilton to open three hotels including 1,600 rooms at the Rua Al Madinah megaproject. The hotels are Conrad Rua Al Madinah, DoubleTree by Hilton Rua Al Madinah, and Hilton …
Companies Investments
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1 May 11:38 AM Ladun Investment inks 2-year deal with UK's Cheval Collection
Riyadh – Mubasher: Ladun Investment Company has signed a contract with UK-based Cheval Collection to manage and operate the Cheval Ladun residential tower located on King Fahd Road in Riyadh. The contract was signed on 30 April 2024 for a duration …
Companies Investments
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28 April 04:18 PM Retal Urban Development seals SAR 240m deal with subsidiary
Riyadh – Mubasher: Retal Urban Development Company has signed a SAR 240 million agreement with its subsidiary Building Construction Company to build eight residential buildings in Riyadh. The agreement was signed on 25 April 2024 for 26 months, …
Real estate
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28 April 11:04 AM Al Akaria, Arriyadh Development partner to build educational complex
Riyadh – Mubasher: Saudi Real Estate Company (Al Akaria) has entered into an agreement to establish a special purpose company with Arriyadh Development Company and Riyadh Holding Company. Under the agreement, the three companies will develop an …
Real estate
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22 April 12:15 PM ROSHN Group inks MoU with Cisco for IoT technology
Riyadh – Mubasher: ROSHN Group, the real estate development arm of Saudi Arabia’s Public Investment Fund (PIF) has signed a memorandum of understanding (MoU) with US-based technology giant Cisco for use of Internet-of-Things (IoT) in building …
Companies Investments