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01 June 05:34 AM

Real Estate

The outlook on all ratings was changed to ratings under review
26 May 04:48 PM Moody’s downgrades Arabian Centres ratings
Riyadh – Mubasher: Moody’s Investors Service has downgraded Arabian Centres Company's (ACC) corporate family rating (CFR) to ‘Ba2’ from ‘Ba1’. The rating on the $500 million Sukuk, which was issued by Arabian Centres Sukuk Limited and due in 2024, …
Sukuk and Islamic Finance
The property's annual rental value starts at AED 4m
10 May 03:08 PM Musharaka REIT fund to acquire property with AED 46m
Riyadh – Mubasher: Musharaka Capital Company, the fund manager for Musharaka REIT fund, started the acquisition procedures of a property in Dubai at a total value of AED 46 million ($12.5 million). The property, one of the Middle East's largest …
Companies Investments
Prices of residential properties increased by 2.1%
23 April 06:07 PM Saudi real estate price index up 1.2% in Q1
Riyadh – Mubasher: The Saudi Real Estate Price Index increased by 1.2% in the first quarter (Q1) of 2020 compared to the same quarter of the previous year. This was driven mainly by prices of residential properties increasing by 2.1%, while the …
Sector Reports
The number of eligible units stands at 118 million units
16 April 06:17 PM Swicorp Wabel REIT to distribute SAR 0.43/unit
Riyadh – Mubasher: Swicorp announced the distribution of SAR 50.74 million in cash dividends to Swicorp Wabel REIT Fund unitholders for 2019. The number of eligible units stands at 118 million units, with SAR 0.43 to be distributed per unit, …
Real estate
The Bridge offers access to major European cities, including Paris and London
16 March 10:37 AM Investcorp takes over Coca-Cola Belgium HQ for EUR 88m
Mubasher: Investcorp announced that its European real estate business has acquired The Bridge, a single let office and research and development (R&D) asset in Brussels, from a wholly-owned subsidiary of the Coca-Cola Company for EUR 88 million …
Mergers and Acquisitions
Loans amounted to SAR 317.27 billion in Q4-19
3 March 04:24 PM Real estate loans in KSA leap 25% in Q4-19
Riyadh – Mubasher: Credit facilities granted by commercial banks and real estate finance companies to Saudi nationals soared by 24.6% or SAR 62.2 billion ($16.7 billion) year-on-year (YoY) during the fourth quarter (Q4) of 2019.       The total …
Banking and Finance
Saudi Arabian Monetary Authority
29 February 01:06 PM Saudi mortgages hit new record level
Riyadh – Mubasher: The number of new mortgage contracts in Saudi Arabia surged by 147% year-on-year (YoY) in January, according to the monthly bulletin of the Saudi Arabian Monetary Authority (SAMA). Last month marked the highest level of mortgage …
Macroeconomics
Proposed dividends amount to a total of SAR 72.2 million
27 February 02:20 PM Taiba’s board recommends SAR 0.45/shr dividends for 2019
Riyadh – Mubasher: The board of Taiba Investments Company proposed a cash dividend distribution of SAR 0.45 per share for the fourth quarter (Q4) of the fiscal year (FY) 2019, during its meeting held on Wednesday, 26 February. Total dividends …
Financial Results
The project is expected before the end of next June
26 February 03:43 PM UAE’s Arada plans new investment in Saudi Arabia in H1-20
Riyadh – Mubasher: Arada Real Estate Company plans to pump new investments in Riyadh by the end of the first half (H1) of the year, as it sees promising opportunities in the Saudi market. The UAE-based company is still in talks with Saudi …
Companies Investments
Nasdaq Dubai has welcomed listing of $400m Sukuk by Dar Al-Arkan
26 February 11:28 AM Nasdaq Dubai welcomes Dar Al-Arkan’s $400m Sukuk listing
Mubasher: Nasdaq Dubai has welcomed the listing of $400 million Sukuk by Saudi Arabia's Dar Al-Arkan, one of the leading real estate companies in the Middle East. Following the $400-million listing, the total value of Dar Al-Arkan’s Sukuk in …
Companies Investments
The deadline for bid submission has been extended to 23 February
19 February 01:30 PM Four firms to submit bids for 10% stake in Heliopolis Housing
Cairo – Mubasher: Heliopolis Company for Housing and Development (HHD) announced that four companies purchased the request for proposal (RFP) document to acquire a 10% stake in the state-owned company with management rights. The companies are Six …
Real estate
Knowledge Economic City
18 February 03:58 PM KEC, OYO sign MoU for managing 1,500 hotel rooms
Riyadh – Mubasher: Knowledge Economic City (KEC) signed a memorandum of understanding (MoU) with OYO Oravel Technology to cooperate in managing and operating the Islamic World district project hotels. The MoU paves the way towards a final …
Companies Investments
27 January 04:26 PM AlAhli REIT appoints new operator of AlAndalus Mall
Riyadh – Mubasher: The Board of Directors of AlAhli REIT Fund has approved appointing AlAndalus Property Company as the operator of AlAndalus Mall, NCB Capital announced on Monday. AlAndalus will replace Hamat Property Company as the new operator …
Companies Investments
The acquisition is likely to reflect positively on the fund’s financials
23 January 04:56 PM AL Maather REIT Fund seals SAR 31m deal to purchase property
Riyadh – Mubasher: AL Maather REIT Fund signed an agreement to buy the real estate property of Al Nokhba Educational Schools on Wednesday, 22 January, at a value of SAR 31 million. The acquisition will be subject to the competent regulatory …
Companies Investments
The two entities inked an MoU
21 January 07:14 PM SRC buys SAR 250m mortgage portfolio from Bank Aljazira
Riyadh – Mubasher: The Saudi Real Estate Refinance Company (SRC), a subsidiary of the Saudi Public Investment Fund (PIF), on Tuesday signed an agreement with Bank Aljazira to buy a SAR 250 million mortgage portfolio, the Saudi Press Agency …
Banking and Finance
Mulkia Investment will distribute SAR 10.2 million to the REIT unitholders
16 January 10:18 AM Mulkia Gulf REIT to distribute SAR 0.17/unit
Riyadh – Mubasher: Mulkia Investment Company announced the distribution of SAR 10.2 million in cash dividends to Mulkia Gulf Real Estate REIT Fund unitholders for the fourth quarter (Q4) of 2019. The amount of profit distributed per unit stands at …
Real estate
The distribution amount represents 1.9% of the REIT fund unit’s original price
13 January 05:01 PM Jadwa REIT Saudi to distribute SAR 0.19/unit
Riyadh – Mubasher: Jadwa Investment Company announces the distribution of SAR 30.02 million cash dividend to Jadwa REIT Saudi Fund’s unitholders for the fourth quarter (Q4) of 2019. SAR 0.19 will be distributed per unit to 158 million units, …
Real estate
World Academy - King Abdullah Economic City
13 January 01:41 PM KAEC inks SAR 38m deal for residential project
Riyadh – Mubasher: King Abdullah Economic City (KAEC) has signed a contract worth more than SAR 38 million for construction works in the Ajdan residential project. Group CEO Ahmed Linjawy said the city is attracting demand on its residential …
Companies Investments
Sukuk proceeds will be used to acquire real estate assets in Europe
13 January 12:44 PM First asset-backed SAR 1bn Sukuk launched in Saudi Arabia
Riyadh – Mubasher: Neo Merchants Capital launched a domiciled asset-backed Sukuk programme, the first asset-backed SAR-denominated Sukuk programme in Saudi Arabia issued by a special purpose entity licensed by the Saudi Capital Market Authority …
Companies Investments
The real estate market in Dubai is set to flourish this year
10 January 08:07 PM Ten reasons for confidence in Dubai’s real estate sector
By: Muhammad Abdul-Wakeel UAE – Mubasher: The real estate market in Dubai is set to flourish this year, backed by a series of positive indicators that are promising great outlook for the sector. Chairman of W Capital Real Estate Brokerage Company …
Macroeconomics
Off-plan properties remained the top preference for investors
7 January 05:03 PM Dubai records highest property sales in 11 years
By: Muhammad Abdul-Wakeel UAE – Mubasher: A total of 41,988 real estate transactions were registered in the UAE’s Emirate of Dubai in 2019, up 20% from the year before, according to data released by Data Finder, a platform affiliate to Property …
Macroeconomics
50% of AMAN REIF will be offered in a private offer
31 December 2019 03:48 PM Oman's AMAN REIF to launch IPO on Thursday
Mubasher: Omani fund under formation AMAN REIF has announced that its initial public offering (IPO) is set to be launched on Thursday, 2 January 2020 and last for 15 days until 16 January. The announcement took place during a press conference held …
Initial Public Offerings
The number of housing loans increased by 254%
31 December 2019 01:08 PM Mortgage loans in KSA reach SAR 69bn in 11M
Riyadh – Mubasher: Financing institutions in Saudi Arabia offered 155,893 mortgage loans worth SAR 69 billion ($18.395 billion) in the first eleven months of 2019, as per official data. The number of housing loans increased by 254%, while its …
Real estate
The deal's legal procedures were completed successfully
26 December 2019 09:13 PM Derayah Financial transfers real estate asset for SAR 29m
Riyadh – Mubasher: Derayah Financial, the fund manager of Derayah REIT, has announced the transfer of a logistics real estate asset in Dammam. The legal and technical procedures of the deal were completed successfully, according to a bourse …
Real estate
The IPO shares represent 30% of Amlak International’s capital
26 December 2019 11:29 AM CMA approves Amlak International IPO
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has approved Amlak International for Real Estate Finance Company's initial public offering (IPO) of 27.18 million shares, representing 30% of the company's capital. The offering …