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The company’s capital stood at SAR 1.77 billion
17 July 05:37 PM Arriyadh Development’s board proposes SAR 71.1m dividends
Riyadh – Mubasher: The board of Arriyadh Development Company has recommended the distribution of SAR 71.11 million in cash dividends for the first six months of 2019, according to a bourse statement released on Wednesday. The proposed dividends …
Net profit shrank to SAR 92.88m in 6M
17 July 05:26 PM Arriyadh Development reports profit decline in Q2
Riyadh – Mubasher: Arriyadh Development Company posted a 5.8% year-on-year profit decline during the second quarter of 2019. The company’s profit went down to SAR 50.04 million in Q2-19 versus SAR 53.12 million in the year-ago period, according to …
This is the second rate cut within two months
14 July 04:21 PM SRC cuts rates by 40 bps for fixed-rate mortgages
Riyadh – Mubasher: Saudi Real Estate Refinance Company (SRC), a subsidiary of the Public Investment Fund (PIF), has reduced the rates by 40 basis points (bps) for its long-term-fixed-rate (LTFR) mortgages, MENA Herald reported. This is considered …
The project includes 2,000 residential units
10 July 09:32 PM Saudi Egyptian Construction offers EGP 10bn project in New Capital
Cairo – Mubasher: Saudi Egyptian Construction Company (Secon) has offered Bleu-Vert residential project in the New Administrative Capital, with total investments of EGP 10 billion ($601.72 million). The company started the reservation of the …
Haroon will lead Bayut’s ambition to provide world-class support to developers
8 July 12:09 PM Bayut names new CEO in Saudi Arabia
Mubasher: The UAE’s largest online property portal, Bayut.com, has appointed Haroon Rashid as a new CEO in Saudi Arabia in a bid to lead the company’s expansion into the GCC nation. In May, Bayut announced its expansion drive into the Saudi market …
The fund will pay SAR 0.16 per unit
8 July 10:59 AM Taleem REIT Fund distributes SAR 8m dividends for Q2
Riyadh – Mubasher: Saudi Fransi Capital announced the distribution of cash dividends worth SAR 8.16 million to Taleem REIT Fund’s unitholders for the second quarter of 2019. The Saudi financial services provider will pay a cash dividend of SAR …
Seera signed a long-term financing agreement with SAIB
4 July 05:45 PM Seera Holding annuls REIT agreement; inks pact with SAIB
Riyadh – Mubasher: Seera Holding Group, formerly known as Al Tayyar Travel Group Holding Co, on Thursday announced the annulment of the agreement on the creation of a real estate investment trust (REIT) for the development of middle-income hotels. …
The project comes along with the objectives of Saudi Vision 2030
4 July 01:31 PM Asharqia Chamber to build SAR 335m investment tower
Riyadh – Mubasher: The Chamber of Commerce and Industry in the Eastern Province (Asharqia Chamber) has signed a contract worth SAR 335 million with a national company to build its investment tower, Saudi Gazette reported. The 31-story tower will …
Around SAR 153 million were deposited for the support of the profits of subsidised mortgage contracts
3 July 04:03 PM Saudi REDF secures SAR 561m to ‘Sakani’ programme beneficiaries in June
Riyadh – Mubasher: Saudi Arabia’s Real Estate Development Fund (REDF) has deposited SAR 561 million in the accounts of ‘Sakani [Housing]’ programme beneficiaries in June. Around SAR 153 million were deposited for the support of the profits of …
Emaar will be the strategic partner of Al Hilal Club for five years as of the next sports season
1 July 09:16 AM Dubai’s Emaar inks 5-yr partnership with Saudi Al Hilal Club
Dubai – Mubasher: Emaar Properties announced it has signed a five-year agreement with the Saudi Al Hilal Club. Upon the agreement, Emaar will be the strategic partner of Al Hilal Club for five years as of the next sports season, according to a …
Majid Abdulrahman Al Qasem was appointed as the deputy chairman
27 June 04:56 PM Dar Alarkan names Youssef Al Shelash as new chairman
Riyadh – Mubasher: The general assembly of Dar Alarkan Real Estate Development Company has elected a new board of directors for the coming three years during a meeting held on Thursday, 27 June. The company has appointed Youssef Abdullah Al …
The credit facility amounted to SAR 4 million after the addition of SAR 1 million
27 June 04:25 PM Al Kathiri Holding gets Riyad Bank’s approval to renew Islamic facility deal
Riyadh – Mubasher: Al Kathiri Holding Company has obtained Riyad Bank’s approval to renew and increase a sharia-compliant credit facility agreement. The credit facility amounted to SAR 4 million after the addition of SAR 1 million to the …
The credit facilities will be also used to complete infrastructure works of Thumama land plot
26 June 09:42 AM Arriyadh Development’s unit secures SAR 800m credit facilities
Riyadh – Mubasher: Arriyadh Development Co announced that its subsidiary Tanal Real Estate Development and Investment Ltd has secured credit facilities worth SAR 800 million from a Saudi bank. The three-year loan will be used to reimburse the …
The decision came into force starting from Tuesday
25 June 02:10 PM Al Akaria names Kelvin Kwok as new CEO
Riyadh – Mubasher: Saudi Real Estate Company (Al Akaria) has appointed Kelvin Kwok as the company’s new CEO. The decision came into force starting from Tuesday, 25 June, according to a bourse filing on Tuesday. Kwok boasts of extensive experience …
ARDCO owns 69.38% of Tanal for Real Estate Investment
25 June 10:17 AM Arriyadh Development establishes new real estate arm
Riyadh – Mubasher: Arriyadh Development Company (ARDCO), in collaboration with Sumou Holding Company, has established a new real estate developer, Tanal for Real Estate Investment and Development LLC. The capital of the newly established company …
The transaction was funded by Abu Dhabi Islamic Bank
24 June 01:45 PM Saudi investment firm acquires 4 buildings in Manchester for $50m
Riyadh – Mubasher: Cedar Tree Investments, which is overseen by AIMS Investments, one of Saudi Arabia’s largest private and public equity investors, has purchased four apartment buildings in Manchester in consideration of $49.6 million. The …
The new project is expected to be inaugurated in August
18 June 04:23 PM Saudi Alhokair’s unit injects EGP 1.2bn in Mall of Tanta
By: Ahmed Allam Cairo – Mubahser: Marakez, a subsidiary of Saudi Arabia’s Fawaz Abdulaziz Alhokair, has injected investments worth EGP 1.2 billion in Mall of Tanta, the real estate developer’s vice chairman, Ahmed Badrawi, said.   Located in the …
Al Akaria’s assembly has approved the financials of FY18
18 June 10:25 AM Al Akaria not to distribute dividends for FY18
Riyadh – Mubasher: The general assembly of the Saudi Real Estate Company (Al Akaria) has approved the board’s recommendation of not distributing cash dividend for the full-year 2018. The assembly has also approved the financials of the year ended …
Following the settlement, Mashaer will generate a profit of SAR 16.655 million
17 June 11:49 AM Aayan to log $1m profit from Mashaer Holding’s settlement in Saudi Arabia
Mubasher: Aayan Leasing and Investment announced that its latest settlement in Saudi Arabia with its affiliated company Mashaer Holding Co will deliver around KWD 333,000 ($1.1 million) in profits. The expected profit from the recently announced …
The loan will be used to finance new acquisition deals.
11 June 09:31 AM Al Masha'ar REIT inks SAR 500m financing deal with Riyadh Bank
Riyadh – Mubasher: Al Masha'ar REIT signed a sharia-compliant financing deal with Riyadh Bank worth SAR 500 million, Muscat Capital Company said in a recent statement. The five-year facility will be re-paid quarterly and secured by a promissory …
The company bought an 8.10% stake in Al Aqeeq and a 12.65% shareholding in ARAC
10 June 12:37 PM Taiba Investment completes acquisition of Al Aqeeq, ARAC
Riyadh – Mubasher: Taiba Investment has finalised all regulatory procedures to acquire minority shares in Al Aqeeq Real Estate Development Company and Arab Resort Areas Company (ARAC). The company bought an 8.10% stake in Al Aqeeq and a 12.65% …
Mortgage in the kingdom rose 15.4% MoM
29 May 11:16 PM Saudi mortgage balloons in April
Riyadh – Mubasher: Saudi mortgage surged 134.7% year-on-year to SAR 6.419 billion in April, compared to SAR 2.735 billion in the year-ago period. Month-on-month, mortgage in the kingdom rose 15.4% last month from SAR 5.56 billion in March, …
Lease and resale services will be offered to clients in the Egyptian market
28 May 01:55 PM Tabarak launches new property firm in Egypt, GCC
By: Abdullah Bedeir Cairo – Mubasher: Tabarak Developments has launched a new company which will operate in the GCC and Egyptian markets. The new company will offer real estate services to Tabarak’s customers in the GCC region and Egypt in a bid …
The sukuk are payable in 28 May
23 May 10:00 PM Dar Al Arkan redeems SAR 1.5bn sukuk
Riyadh – Mubasher: Dar Al Arkan Real Estate Development Company has announced the redeeming of SAR 1.5 billion ($400 million) SERIES 3 MTN 2019 Sukuk payable on 28 May. Earlier in 2019, the Tadawul-listed company bought SAR 264.3 billion ($70.48 …
Raheja will replace Kevin Kwak
23 May 11:26 AM Dar Alarkan names new CEO
Riyadh – Mubasher: Dar Alarkan Real Estate Development Company’s board of directors approved appointing Andy Raheja as the company’s new CEO starting from 4 June.  Raheja, who will replace Kevin Kwak, is currently the CFO of Dar Alarkan, according …