Real Estate

Saudi King Salman bin Abdulaziz met last August with the cabinet for the first time in Neom city
21 March 12:57 PM Saudi Arabia to build NEOM's 1st city by 2020 – official
Riyadh – Mubasher: Saudi Arabia on Thursday announced the beginning of establishing a city in NEOM project, the megaproject’s CEO of city Transformation Agency said. Set to span over 45,000 kilometres, the city will be completed in 2020, Antoni …
landalus Property posted a decrease in quarterly profits
20 March 11:40 AM Alandalus Property FY18 profits shrink 59.5%
Mubasher: Alandalus Property Co reported a decrease of 59.5% in profits during fiscal year 2018 compared to the same period a year ago. Initial data showed that net earnings shrank to SAR 47.97 million in FY18 from SAR 118.39 million in the …
The transaction was financed by a sharia-compliant loan
19 March 03:29 PM Riyad REIT Fund acquires SAR 65m property
Riyadh – Mubasher: Riyad REIT Fund on Tuesday announced acquiring an office tower in AlSahafa district, Riyadh at a value of SAR 65 million. The transaction was financed by a sharia-compliant loan, according to a statement to the Saudi Stock …
The Emirati property developer is looking for new land plots in Saudi Arabia
19 March 10:21 AM Damac Properties seeks foothold in Saudi Arabia, London
Dubai – Mubasher: Damac Properties plans to launch new projects in Saudi Arabia and London over the coming period, the chairman of the Dubai-based real estate giant said. The Emirati property developer, which is looking for new land plots in Saudi …
The hotel will be managed by Marriott International.
19 March 09:37 AM Dur Hospitality opens Marriott hotel in Riyadh
Riyadh – Mubasher: Dur Hospitality Company has opened Marriott hotel in Riyadh’s Diplomatic Quarter. Spanning 25,000 square metres, the hotel includes 80 rooms and suites, and 140 five-star luxury apartments, according to a statement to the Saudi …
Shaza Hotels to manage, operate 1st Mysk-branded hotel in Saudi Arabia
18 March 12:53 PM Shaza Hotels to manage, operate 1st Mysk-branded hotel in Saudi Arabia
Riyadh – Mubasher: Shaza Hotels has signed a contract with Sheikh Sultan Al Harthi to manage and operate the four-star hotel Mysk Jeddah. The new facility is expected to be inaugurated by 2021, the hospitality firm said in a statement on Monday. …
Marakez also owns Mall of Arabia in 6th October City.
18 March 12:48 PM Saudi Alhokair’s unit to open Tanta Mall in Q3
Cairo – Mubasher: Real estate developer Marakez, a subsidiary of Saudi Arabia’s Fawaz Abdulaziz Alhokair, has revealed plans to inaugurate Tanta Mall in the Egyptian governorate of Gharbia during the third quarter of 2019. Spanning 135,000 square …
SICO currently develops five new shopping malls in the country
17 March 09:45 AM Saudi's SICO opens 9th shopping mall in kingdom
Riyadh – Mubasher: Saudi Investment Company (SICO) announced it has opened the first phase of its ninth mall in the kingdom, Quwaieyah Mall, in Al Quwaieyah City. This opening is part of SICO’s expansion strategy which aims at raising its mall …
Jabal Omar, housing ministry to cooperate in building tech initiative
13 March 03:01 PM Jabal Omar, housing ministry to cooperate in building tech initiative
Riyadh – Mubasher: Jabal Omar Development Company (JODC) signed a memorandum of understanding (MoU) with the Building Technology Stimulus Initiative, which is affiliated to the Saudi Ministry of Housing, to develop innovative building technologies …
Rotana mulls expansions in UAE, abroad – acting CEO
13 March 09:45 AM Rotana mulls expansions in UAE, abroad – acting CEO
Dubai – Mubasher: Rotana Hotel Management Corporation (Rotana) has unveiled plans to inaugurate nine hotels in the UAE and abroad in 2019 and 2020, acting CEO Guy Hutchinson said. After the expected expansions, Rotana’s portfolio of hotel rooms …
New Arkan plans to achieve EGP 550 million in sales during the first six months of the sale process
10 March 12:03 PM Egyptian alliance to develop EGP 250m mall for Saudi firm
Cairo – Mubasher: Egyptian property developers New Arkan and Diamond Real Estate Development signed a partnership agreement to develop “Chills Mall” project in Sheikh Zayed city for the favour of Saudi-based Al Shareef Yahya Group, according to …
The two officials also considered the building of a stadium in Al Jawf region
7 March 03:43 PM Saudi Arabia mulls building sports city in Al Jawf region
Riyadh – Mubasher: Al Jawf region governor Faisal Bin Nawaf Bin Abdul Aziz and the General Sport Authority’s (GSA) chairman Abdulaziz bin Turki Al Faisal have discussed the establishment of sports city in the Saudi region. The two officials …
The new cinema is set to be opened in the second quarter of 2020
7 March 03:15 PM SEVEN, AlOula Real Estate Development to build Khobar’s 1st movie theatre
Riyadh – Mubasher: The Saudi Entertainment Ventures (SEVEN) on Thursday revealed plans to establish the first movie theatre in the Saudi city of Khobar. The new cinema, set to be opened in the second quarter of 2020, will be built in collaboration …
The Saudi firm attributed the 2018 profit drop to a decline in rental income
7 March 12:16 PM Taiba Holding’s profit falls 56% in 2018
Riyadh – Mubasher: Saudi Arabia’s Taiba Holding Company on Thursday reported a 56% year-on-year profit decrease during the full-year 2018. Taiba Holding’s net profits after calculating Zakat and Tax reached SAR 64.35 million ($17.16 million) in …
Real estate ownership will increase to 70%
6 March 07:11 PM Saudi Arabia’s mortgage finance market to hit SAR 60bn in 2019
Riyadh – Mubasher: Saudi Arabian mortgage finance sector is expected to receive SAR 60 billion ($16 billion) investments in 2019. The completion of the mortgage finance system in Saudi Arabia will increase real estate ownership to 70% in line with …
Saudi Arabia is a “hugely important” market for Arada
6 March 06:10 PM UAE's Arada to launch offices in Saudi Arabia, Abu Dhabi in 2019
Abu Dhabi – Mubasher: Arada Developments will launch new offices and sales centres in Saudi Arabia and Abu Dhabi in the first half of 2019, the CEO of the Sharjah-based developer said. Saudi Arabia is a “hugely important” market for Arada, CEO …
The event takes place from 23 to 25 April 2019
5 March 09:59 PM Bahraini market prepares for strong competition at Gulf Property Show
Mubasher: The Bahraini real estate sector is expected to face tough competition from overseas rivals at Gulf Property Show, the event’s organising managing director Jubran Abdulrahman said. The Gulf Property Show is planned to showcase …
The kingdom is at pains to develop all activities related to audiovisual media
5 March 04:25 PM Saudi Arabia awards 7th cinema licence to Alhokair unit
Riyadh – Mubasher: Saudi minister of media Turki bin Abdullah Al-Shabana on Tuesday has awarded the seventh cinema licence to local firm Next Generation, a subsidiary of the Tadawul-listed Fawaz Abdulaziz Alhokair. After obtaining the licence, …
Saudi SICO opens 1st phase of SAR 75m Quwaieyah Mall
5 March 03:50 PM Saudi SICO opens 1st phase of SAR 75m Quwaieyah Mall
Riyadh – Mubasher: Saudi Investment Company (SICO) on Tuesday announced the inauguration of Quwaieyah Mall’s first phase. Upon completion, the SAR 75 million ($20 million) facility will be the largest mall in Quwaieyah city, Riyadh along with …
Shomoul is a joint venture between Mabanee, Al Fozan Group, and Alshaya Group
5 March 11:21 AM Mabanee’s unit inks deal with Hilton to develop hotels in Saudi Arabia
Mubasher: Mabanee Co announced that its subsidiary Shomoul Holding has signed an agreement with Hilton Hotels & Resorts to develop and operate four hotels in Saudi Arabia, according to a bourse disclosure on Tuesday. Hilton will operate and …
The Islamic bonds will be offered in a private placement for investors
4 March 10:47 AM Jabal Omar kicks off SAR 2bn sukuk issue
Riyadh – Mubasher: Jabal Omar Development Company on Monday announced the beginning of issuing five-year domestic sukuk at a value of SAR 2 billion ($533.3 million). The Islamic bonds will be offered in a private placement for investors, according …
Mӧvenpick Hotels opens 4th property in Jeddah
3 March 03:32 PM Mӧvenpick Hotels opens 4th property in Jeddah
Riyadh – Mubasher: Mӧvenpick Hotels & Resorts, an upscale brand within the AccorHotels Group, on Sunday announced the inauguration of a new hotel in the Saudi city of Jeddah under the name Mӧvenpick Hotel Tahlia Jeddah. The new facility is owned …
The firm attributed the 2018 profit decrease to the lower margin achieved from properties sale
3 March 11:50 AM Dar Al Arkan’s profit falls 8% in 2018
Riyadh – Mubasher: Saudi Arabia-based Dar Al Arkan Real Estate Development Company on Sunday reported an 8.1% year-on-year profit decline during the full-year 2018. The developer’s net profits after calculating Zakat and Tax amounted to SAR 508.81 …
The Red Sea mega touristic and recreational project is a major part of Saudi Vision 2030
27 February 03:00 PM Saudi TRSDC begins 1st phase of Red Sea megaproject
Riyadh – Mubasher: The Red Sea Development Company (TRSDC), a wholly owned subsidiary of the Saudi Public Investment Fund (PIF), on Wednesday announced the beginning of construction works of the first phase of the Red Sea mega touristic project. …
Jadwa REIT Saudi Fund’s unaudited NAV reach SAR 1.7bn in 2018
24 February 06:15 PM Jadwa REIT Saudi Fund’s unaudited NAV reach SAR 1.7bn in 2018
Riyadh – Mubasher: Saudi Arabia-based Jadwa Investment company on Sunday has said that the unaudited net asset value (NAV) for Jadwa REIT Saudi Fund amounted to SAR 1.74 billion by the end of 31 December 2018. The value was announced based on the …