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26 March 11:50 AM Cenomi Centers’ net profit surges 49% YoY in 2023; dividends approved
Riyadh – Mubasher: Arabian Centres Company (Cenomi Centers) logged a 48.77% year-on-year (YoY) surge in net profit to SAR 1.50 billion in 2023 from SAR 1 billion a year earlier. Revenues grew 2.13% YoY to SAR 2.25 billion last year from SAR 2.20 …
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25 March 12:09 PM Makkah Construction’s net profit jumps 114% YoY in 2023; dividends approved
Riyadh – Mubasher: The net profit of Makkah Construction and Development Company leapt 114.10% year-on-year (YoY) to SAR 334 million in 2023 from SAR 156 million. Revenues soared 58.57% YoY to SAR 731 million last year from SAR 461 million, …
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25 March 11:27 AM Jabal Omar Development swings to profitability in 2023
Riyadh – Mubasher: Jabal Omar Development Company shifted to profitability in 2023, recording a consolidated net profit of SAR 37.48 million, compared to a net loss of SAR 352.43 million a year earlier. Revenues surged 56.18% year-on-year (YoY) to …
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20 March 01:56 PM Jabal Omar Development receives ministerial licence to operate Jumeirah 3rd tower
Riyadh – Mubasher: Jabal Omar Development Company has received a license from the Saudi Ministry of Tourism to operate the third tower of the Jabal Omar Jumeirah hotel with a five-star rating. The third tower includes 244 luxurious and …
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18 March 11:39 AM Lana Medical’s unit wins contract in King Khalid Military City's campus
Riyadh – Mubasher: Lana Medical Company has announced that its unit Lana Contracting Company won a contract for restoration, furnishing, and modifications to the buildings of the Peninsula Shield Forces in Hafr Al-Batin. The SAR 7.99 million …
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13 March 11:08 AM Mayar Holding’s Egyptian subsidiary inks EGP 840m contracts
Riyadh – Mubasher: Egypt Gulf Elevators and Escalators Company, a subsidiary of the Saudi Arabian Mayar Holding Company has signed two contracts with Total Air Projects Company with a total value of EGP 840 million. The contracts include supplying …
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13 March 10:54 AM Amiantit pens SAR 174m contracts for subsidiaries
Riyadh – Mubasher: Saudi Arabian Amiantit Company has signed six contracts for its 100%-owned subsidiaries with several contractors at a total value of SAR 174 million. The contracts include supply and installation of pipes for several strategic …
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29 February 04:38 PM Saudi Sumou, Egypt’s Hassan Allam pen development agreement
Mubasher: Saudi Sumou Holding and Hassan Allam inked a development agreement for key investment opportunities in the real estate sector, according to a press release. ADEER International Egypt, a subsidiary of ADEER Holding and Sumou Holding, …
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26 February 02:13 PM Al Akaria pens 5-year agreement for development of Sidrat AlUla project
Riyadh – Mubasher: Saudi Real Estate Company (Al Akaria) signed a five-year agreement with the Royal Commission for AlUla and AlUla Development Company for the development of Sidrat AlUla project land. Under the terms of the agreement, Al Akaria …
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26 February 01:06 PM Mulkia Investment plans to form real estate fund
Riyadh – Mubasher: Mulkia Investment Company penned a memorandum of understanding (MoU), on 21 February,  to establish a real estate fund, according to a bourse disclosure. Through the fund, Mulkia Investment plans to acquire a plot of raw land in …
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26 February 12:09 PM Knowledge Economic City inks hotel management agreements with Hyatt International
Riyadh – Mubasher: Knowledge Economic City has signed agreements with Hyatt International for the management and operation of hotel facilities and the provision of consultancy services in exchange for a share in the facilities’ operating revenues. …
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21 February 09:50 AM Saudi-Egyptian alliance inks development agreement for $1bn projects
Mubasher: The Egyptian government, represented by the Arab Organization for Industrialization (AOI), signed a memorandum of understanding (MoU) with a Saudi-Egyptian alliance. The alliance is represented by the companies Alupco, Olayan Group, Okta …
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18 February 12:28 PM Cenomi Centers opens U Walk Jeddah hybrid mall
Riyadh – Mubasher: Arabian Centres Company (Cenomi Centers) announced the inauguration of U Walk Jeddah hybrid mall in the Al Zahar district on 15 February 2024. The mall includes indoor and outdoor retail areas including 136 stores across …
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7 February 04:19 PM UAE’s Jumeirah Group makes hotel debut in Saudi Arabia
UAE – Mubasher: Jumeirah Group, a luxury hotels member of Dubai Holding, has opened its first hotel in Saudi Arabia under the name Jumeirah Jabal Omar Makkah. Situated in Jabal Omar and near the Great Mosque of Makkah, the new hotel boasts …
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29 January 02:22 PM Retal unveils development agreement worth SAR 48m
Riyadh – Mubasher: Retal Urban Development Company and its subsidiary Building Construction Company inked a SAR 48 million deal to construct four residential buildings in the Alsadafah district in Khobar. The agreement holds a duration period of …
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13 December 2023 00:52 PM Property developer View commences trading on Nomu
Riyadh – Mubasher: View United Real Estate Development Company has listed its shares on the Saudi Exchange (Tadawul) to be traded on Nomu, the parallel market, on Wednesday, 13 December 2023. Tadawul listed View under the trading symbol 9591 and …
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29 November 2023 03:09 PM Retal inks SAR 375m purchase deal with PIF’s subsidiary Roshn
Riyadh – Mubasher: Retal Urban Development Company signed an agreement to purchase residential lands with Roshn Real Estate Company, a subsidiary of the Public Investment Fund (PIF). The listed company will develop 363 residential units in the …
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28 November 2023 09:24 AM Retal awarded development project worth SAR 1.2bn
Riyadh – Mubasher: Retal Urban Development Company inked a contract with Jubail and Yanbu Industrial Cities Services Company (Jabeen) for a development project at an estimated value of SAR 1.20 billion. The two parties will establish primary and …
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27 November 2023 03:58 PM Banan Real Estate renews Oval building deal with Mobily
Riyadh – Mubasher: Banan Real Estate Company renewed the lease agreement with Etihad Etisalat Company (Mobily) for the Oval office building in Olaya district which is located in the capital of Saudi Arabia for five Hijri years. Upon the contract …
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21 November 2023 10:28 AM Retal, National Housing team up for SAR 925m development projects
Riyadh – Mubasher: Retal Urban Development Company joined forces with the National Housing Company for two development projects at an estimated value of SAR 925 million. The agreements are expected to reflect positively on the Tadawul-listed …
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8 November 2023 10:12 AM Jabal Omar turns profitable in 9M-23; revenues leap to SAR 1bn
Riyadh – Mubasher: Jabal Omar Development Company shifted to net profits after Zakat and tax valued at SAR 237.55 million in the first nine months (9M) of 2023, against losses worth SAR 157.98 million in 9M-22. The revenues hiked by 64.97% …
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7 November 2023 05:17 PM Sumou Real Estate’s net profits grow 9% in 9M-23
Riyadh – Mubasher: Sumou Real Estate Company reported an 8.78% increase in net profit after Zakat and tax to SAR 78.23 million in the first nine months (9M) of 2023, versus SAR 71.91 million in the same period of 2022. The revenues declined by …
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7 November 2023 03:43 PM Retal’s net profits drop 20% in 9M-23
Riyadh – Mubasher: Retal Urban Development Company reported a 20.32% decline in net profit after Zakat and tax to SAR 145.98 million in the first nine months (9M) of 2023, compared to SAR 183.20 million in the same period of 2022. Meanwhile, the …
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12 October 2023 02:51 PM EGX-listed Madinet Masr comments on Saudi PIF acquisition news
Cairo – Mubasher: Madinet Masr for Housing and Development Company stated that its management did not receive any letters regarding an acquisition by the Saudi sovereign fund, according to a bourse filing. The Egyptian Exchange (EGX) listed …
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12 October 2023 11:53 AM Egypt, Saudi Arabia, UAE, dominate MENA’s $3trn construction projects – JLL
Mubasher: The aggregated estimated value of the construction development pipeline in the MENA region has surpassed $3 trillion with Egypt, Saudi Arabia, and the UAE acquiring more than 60% of it, according to JLL’s Construction Market Intelligence …