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Companies Investments

The company’s board approved distributing SAR 11 million in cash dividends for H2-20.
6 minutes ago Fitaihi Holding swings to profits in 2020; mulls capital cut
Riyadh – Mubasher: Fitaihi Holding Group turned profitable in the fiscal year (FY) ended on 31 December 2020, achieving SAR 30 million in net profits, against net losses of SAR 9.5 million a year earlier. Revenues jumped by 53.4% on an annual …
The company is building a residential project with investments of EGP 1.5 billion
4 March 04:12 PM Mardev Developments plans EGP 400m investments in New Administrative Capital in 2021
 By: Abdullah Bedeir Cairo – Mubasher: Mardev Developments plans to invest EGP 400 million in new projects in the New Administrative Capital during 2021, the CEO Mohamed Zohdy said. The real estate developer takes part in the Capital of Hope …
Bidders can submit their offers starting from 22 March until 27 May
4 March 12:22 PM Heliopolis Housing seeks bidders for Heliopark development project
Cairo – Mubasher: Heliopolis Company for Housing and Development has launched a request for proposals (RFP), seeking bidders for the development of Heliopark project over an area of 1,695 feddans in New Cairo. Bidders can submit their offers …
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4 March 11:46 AM Jadwa REIT buys Boulevard Riyadh for SAR 320m
Riyadh – Mubasher: Jadwa REIT Saudi Fund has signed an agreement to purchase Boulevard Riyadh, a retail and offices complex, in a SAR 320 million deal, Jadwa Investment Company disclosed to the Saudi Stock Exchange (Tadawul). Boulevard Riyadh has …
The merger deal is expected to close in the second quarter of 2021
4 March 11:14 AM Anghami to be first Arab tech startup to list on Nasdaq
Mubasher: Anghami is set to become the first Arab technology company to list on Nasdaq New York by merging with Vistas Media Acquisition, a special purpose acquisition company (SPAC). The merger deal, which is expected to close in the second …
The project is expected to create more than 500 jobs.
4 March 10:27 AM Egypt inks deal with Samsung to build $30m tablet factory in Beni Suef
Cairo – Mubasher: Egypt signed an agreement with Samsung to establish a factory in Beni Suef to manufacture tablets for students in secondary schools with investments of $30 million, the Middle East News Agency reported on Wednesday. The project …
The Swedish furniture seller launched 1,400 new products in Egypt
3 March 05:56 PM IKEA opens second branch in Egypt
By: Abdullah Bedeir Cairo – Mubasher: IKEA has launched its second branch in Egypt in collaboration with Al-Futtaim Group and MARAKEZ for Real Estate Investment, a subsidiary of the Saudi Fawaz Abdulaziz Alhokair Co. The new two-storey outlet, …
The fund seeks to acquire a new Riyadh-based real estate asset.
3 March 04:42 PM Jadwa REIT Saudi Fund seeks to raise assets by SAR 370m
Riyadh – Mubasher: Jadwa Investment Company, manager of Jadwa REIT Saudi Fund, said the fund’s board approved a suggested change in the fund’s total asset value. The fund seeks to acquire a new Riyadh-based real estate asset, subject to the …
Tatweer Misr aims to invest about EGP 3 billion in four projects this year
3 March 04:38 PM Tatweer Misr launches EGP 7bn project in North Coast
By: Abdullah Bedeir Cairo – Mubasher: Tatweer Misr announced the launch of a new project in the North Coast in partnership with Kayan for Real Estate Development. With an initial investment cost of EGP 7 billion, the development will be built over …
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3 March 03:43 PM Hyundai Heavy, Saudi Aramco cooperate on hydrogen project
Riyadh – Mubasher: Hyundai Heavy Industries Holdings (HHIH) has signed a deal with the Saudi Arabian Oil Company (Saudi Aramco) to cooperate on a hydrogen project, according to local media reports in South Korea. Under the deal, Hyundai Oilbank, …
The new system will connect coastal and landlocked African countries to Europe
3 March 02:12 PM Telecom Egypt to launch Hybrid African Ring Path by 2023
Cairo – Mubasher: Telecom Egypt is planning to launch Hybrid African Ring Path (HARP) by 2023, a new subsea system circling the African continent. “This will connect coastal and landlocked African countries to Europe through the company’s …
Sidpic recorded net profits of EGP 26 million in 2020
3 March 01:15 PM Sidpec mulls offer to transfer polypropylene licence to RSNCRP
Cairo – Mubasher: The board of directors of Sidi Kerir Petrochemicals (Sidpec) decided to study an offer to transfer the ownership of the licence of its polypropylene project to Red Sea National Company for Refining and Petrochemicals (RSNCRP). In …
The planned budget for fiscal year 2021/2022 includes investments of $562 million
3 March 12:55 PM GUPCO plans to raise daily output to 70k barrels
Cairo – Mubasher: The Gulf of Suez Petroleum Company (GUPCO) aims to increase its output to 70,000 barrels per day (bpd). The company’s planned budget for fiscal year 2021/2022 includes investments of $562 million for the implementation of …
The platform will mainly focus on India followed by the wider South East Asia region
3 March 12:23 PM Tabreed plans $400m energy investment platform in Singapore
UAE - Mubasher: National Central Cooling Company (Tabreed) and the International Finance Corporation (IFC) are planning to establish a district energy-investment platform in Singapore. The platform will target $400 million in capital deployment, …
The transaction is expected to be completed by the end of June 2021.
3 March 09:45 AM Alhokair, ACC to acquire 51% stake in UK's Vogacloset
Riyadh – Mubasher: Fawaz Abdulaziz Alhokair Co. (Alhokair) and Arabian Centres Company (ACC) will acquire a combined 51% stake in Vogacloset, a UK-based online fast fashion platform offering over 400 brands in the latest women’s, men’s and kids’ …
The sale proceeds will be used in further improving the return on equity in the group.
2 March 04:47 PM Fitaihi Holding sells entire stake in Al-Jouf Agricultural for SAR 125.7m
Riyadh – Mubasher: Fitaihi Holding Group has completed, until the end of 2 March 2021, selling its total stake of 9% in the share capital of Al-Jouf Agricultural Development Company, achieving capital gains of SAR 125.7 million. The step is in …
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2 March 04:36 PM Saudia Cargo, Alibaba’s Cainiao team up to boost e-commerce
Riyadh – Mubasher: Saudia Cargo has signed an agreement with Cainiao, the logistic arm of Alibaba Group, to operate five weekly flights from Hong Kong to Belgium’s Liège, with Riyadh as a connection point.   The step comes to meet the growing …
The CEO of Minka Development, Abdallah Sallam
2 March 01:39 PM Minka Development plans EGP 500m investments in 2021
By: Abdullah Bedeir Cairo – Mubasher: Minka Development plans to invest EGP 500 million in a new residential project in eastern Cairo during 2021, the CEO Abdallah Sallam revealed. Spanning over an area of 27 feddans, the new development will …
This sets the rocket and spaceship builder’s valuation at about $74 billion
2 March 12:01 PM IHC-backed SpaceX completes $850m funding round
Abu Dhabi – Mubasher: International Holdings Company (IHC) announced that SpaceX has completed an equity funding round of $850 million. This sets the rocket and spaceship builder’s valuation at about $74 billion, a 60% leap from a valuation of $46 …
The deal is expected to reflect positively on the fund’s results for 2021.
1 March 04:41 PM Al Mashaar REIT to invest SAR 135m in commercial building
Riyadh – Mubasher: Muscat Capital said Al Mashaar REIT has signed a memorandum of understanding (MoU) to invest SAR 135 million in i- Offices, a Riyadh-based commercial building. The ownership transfer procedures for the real estate property will …
The loan is secured by a promissory note of SAR 93 million in favour of Samba.
1 March 04:13 PM MEPCO extends SAR 93m loan deal with Samba
Riyadh – Mubasher: Middle East Paper Company (MEPCO) has renewed a Sharia-compliant credit facility agreement worth SAR 93 million with Samba Financial Group to finance the company's working capital and spare parts for factory equipment and …
The issued capital of the new company is planned to stand at EGP 300 million
1 March 01:39 PM Ibnsina Pharma completes procedures for setting up new fintech firm
Cairo – Mubasher:  Ibnsina Pharma announced the completion of procedures for the establishment of a new investment firm with an authorised capital of EGP 750 million. The issued capital of the new company, in which Ibnsina Pharma will hold 99%, is …
Cambridge is a provider of post-acute care and rehabilitation in the UAE and Saudi Arabia
1 March 12:03 PM Amanat acquires Cambridge Medical and Rehabilitation Centre for $232m
Dubai – Mubasher: Amanat Holdings has acquired Cambridge Medical and Rehabilitation Center (CMRC) for an enterprise value of $232 million (AED 851 million) from emerging market focused private equity company TVM Capital Healthcare. The …
Tamear will become a fully-owned subsidiary of Al Akaria.
1 March 11:39 AM Al Akaria raises stake in subsidiary to 100%
Riyadh – Mubasher: Saudi Real Estate Company (Al Akaria) has purchased the entire stake of Kaya Homes for Construction, Contracting, Tourism, Trade and Industry, in the Saudi Real Estate Construction Company (Tamear), in which it owns a 60% …
The total value of the deal cannot be determined at the moment.
1 March 11:09 AM Arabia Insurance to provide general, motor insurance services to Aljomaih Group
Riyadh – Mubasher: Arabia Insurance Cooperative Company (AICC) on Monday announced receiving an order from Aljomaih Group of Companies to provide general and motor insurance services for one year starting from 1 March 2021. The insurer said the …