Real Estate

Cairo – Mubasher: Palm Hills Developments Company has established a company in Saudi Arabia and appointed Majed Sharif as its CEO. The EGX-listed firm announced the news in a bourse disclosure on 4 August 2024. In the first quarter (Q1) of 2024, …

Riyadh – Mubasher: The net profit of Makkah Construction and Development Company leapt by 36.89% year-on-year (YoY) to SAR 256 million during the first half (H1) of 2024 from SAR 192 million. The company’s revenue surged by 54.02% YoY to SAR 536 …

Riyadh – Mubasher: Riyadh’s office market maintained robust performance in the second quarter (Q2) of 2024, underscoring the vitality of the non-oil sector. This sector, crucial to the economy, saw a year-on-year (YoY) growth of 3.40% in Q1-24, …

Riyadh – Mubasher: Saudi Arabia’s National Housing Company (NHC) has signed a contract with South Korea's NAVER Cloud Platform to implement smart city solutions on the digital twin platform Baladi. This collaboration aims to leverage global best …

Riyadh – Mubasher: Alandalus Property Company began the construction process of a qualitative commercial centre in Makkah with a total estimated cost of SAR 831 million. The board of Masat Property Company decided to appoint Hamat Holding Company …

UAE – Mubasher: Luxury developer Dar Global has entered into a partnership with the Trump Organization to build Trump Tower Dubai. The project’s location and design in a prime Dubai site will be unveiled by the end of 2024, according to a press …

Cairo – Mubasher: Egypt's construction industry, the largest in Africa and third largest in the MENA region, is projected to grow at a compound annual growth rate (CAGR) of more than 8% until 2029, according to JLL’s construction market …

Riyadh – Mubasher: Sumou Real Estate Company penned an agreement with Jubail and Yanbu Industrial Cities Services Company (Jabeen) for a project valued at SAR 1.30 billion. The two entities will develop primary and secondary infrastructure works …

Riyadh – Mubasher: UK’s Dar Global, an international real estate developer with its headquarters (HQ) in Dubai has teamed up with The Trump Organization to launch the first Trump Tower in Saudi Arabia, according to a press release. The new project …

Riyadh – Mubasher: Dallah Healthcare Company inked a contract with Dallah Real Estate, Tatweer Company, and Aljazira Capital Company to establish a private real estate fund with an estimated value exceeding SAR 1.20 billion. Dallah Healthcare will …

Riyadh – Mubasher: Al Hammadi Holding completed the sale of vacant land in Al Rayyan district at a value of SAR 124.60 million on 12 June 2024. The book value of the land stands at SAR 69.33 million as previously announced in April, according to a …

Riyadh – Mubasher: Jahez International Company for Information System Technology purchased real estate in Riyadh at a value of SAR 150 million, according to a bourse statement. Located in Almohammadiyah district in Riyadh, the land has a …

Riyadh – Mubasher: ROSHN Group, a real estate developer owned by the Saudi Public Investment Fund (PIF), has signed memorandum of understanding (MoU) with Arab National Bank, Bank Albilad, Bank AlJazira, and Riyad Bank. Under the MoUs, which were …

Riyadh – Mubasher: Thimar Development Holding Company plans to invest SAR 6 million in a real estate fund licensed by the Capital Market Authority (CMA) to develop a residential tower in Riyadh. Located in Olaya District, the project is expected …

Riyadh – Mubasher: Tatweer Company has acquired an industrial plot in a prime location in Riyadh for more than SAR 750 million, according to a press release. The industrial land, which spans around 74,000 square metres, was secured during the …

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 …

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 …

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, …

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 …

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 …

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 …

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 …

Riyadh – Mubasher: The real estate office market in Riyadh has maintained good momentum in the first quarter (Q1) of 2024 despite macroeconomic challenges, according to a report by real estate company Savills. The rise in Grade A offices is set to …