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29 February 04:38 PM Saudi Sumou, Egypt’s Hassan Allam pen development agreement
Mubasher: Saudi Sumou Holding and Hassan Allam inked a development agreement for key investment opportunities in the real estate sector, according to a press release. ADEER International Egypt, a subsidiary of ADEER Holding and Sumou Holding, …
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26 February 02:13 PM Al Akaria pens 5-year agreement for development of Sidrat AlUla project
Riyadh – Mubasher: Saudi Real Estate Company (Al Akaria) signed a five-year agreement with the Royal Commission for AlUla and AlUla Development Company for the development of Sidrat AlUla project land. Under the terms of the agreement, Al Akaria …
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26 February 01:06 PM Mulkia Investment plans to form real estate fund
Riyadh – Mubasher: Mulkia Investment Company penned a memorandum of understanding (MoU), on 21 February,  to establish a real estate fund, according to a bourse disclosure. Through the fund, Mulkia Investment plans to acquire a plot of raw land in …
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26 February 12:09 PM Knowledge Economic City inks hotel management agreements with Hyatt International
Riyadh – Mubasher: Knowledge Economic City has signed agreements with Hyatt International for the management and operation of hotel facilities and the provision of consultancy services in exchange for a share in the facilities’ operating revenues. …
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21 February 09:50 AM Saudi-Egyptian alliance inks development agreement for $1bn projects
Mubasher: The Egyptian government, represented by the Arab Organization for Industrialization (AOI), signed a memorandum of understanding (MoU) with a Saudi-Egyptian alliance. The alliance is represented by the companies Alupco, Olayan Group, Okta …
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18 February 12:28 PM Cenomi Centers opens U Walk Jeddah hybrid mall
Riyadh – Mubasher: Arabian Centres Company (Cenomi Centers) announced the inauguration of U Walk Jeddah hybrid mall in the Al Zahar district on 15 February 2024. The mall includes indoor and outdoor retail areas including 136 stores across …
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7 February 04:19 PM UAE’s Jumeirah Group makes hotel debut in Saudi Arabia
UAE – Mubasher: Jumeirah Group, a luxury hotels member of Dubai Holding, has opened its first hotel in Saudi Arabia under the name Jumeirah Jabal Omar Makkah. Situated in Jabal Omar and near the Great Mosque of Makkah, the new hotel boasts …
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29 January 02:22 PM Retal unveils development agreement worth SAR 48m
Riyadh – Mubasher: Retal Urban Development Company and its subsidiary Building Construction Company inked a SAR 48 million deal to construct four residential buildings in the Alsadafah district in Khobar. The agreement holds a duration period of …
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13 December 2023 00:52 PM Property developer View commences trading on Nomu
Riyadh – Mubasher: View United Real Estate Development Company has listed its shares on the Saudi Exchange (Tadawul) to be traded on Nomu, the parallel market, on Wednesday, 13 December 2023. Tadawul listed View under the trading symbol 9591 and …
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29 November 2023 03:09 PM Retal inks SAR 375m purchase deal with PIF’s subsidiary Roshn
Riyadh – Mubasher: Retal Urban Development Company signed an agreement to purchase residential lands with Roshn Real Estate Company, a subsidiary of the Public Investment Fund (PIF). The listed company will develop 363 residential units in the …
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28 November 2023 09:24 AM Retal awarded development project worth SAR 1.2bn
Riyadh – Mubasher: Retal Urban Development Company inked a contract with Jubail and Yanbu Industrial Cities Services Company (Jabeen) for a development project at an estimated value of SAR 1.20 billion. The two parties will establish primary and …
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27 November 2023 03:58 PM Banan Real Estate renews Oval building deal with Mobily
Riyadh – Mubasher: Banan Real Estate Company renewed the lease agreement with Etihad Etisalat Company (Mobily) for the Oval office building in Olaya district which is located in the capital of Saudi Arabia for five Hijri years. Upon the contract …
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21 November 2023 10:28 AM Retal, National Housing team up for SAR 925m development projects
Riyadh – Mubasher: Retal Urban Development Company joined forces with the National Housing Company for two development projects at an estimated value of SAR 925 million. The agreements are expected to reflect positively on the Tadawul-listed …
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8 November 2023 10:12 AM Jabal Omar turns profitable in 9M-23; revenues leap to SAR 1bn
Riyadh – Mubasher: Jabal Omar Development Company shifted to net profits after Zakat and tax valued at SAR 237.55 million in the first nine months (9M) of 2023, against losses worth SAR 157.98 million in 9M-22. The revenues hiked by 64.97% …
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7 November 2023 05:17 PM Sumou Real Estate’s net profits grow 9% in 9M-23
Riyadh – Mubasher: Sumou Real Estate Company reported an 8.78% increase in net profit after Zakat and tax to SAR 78.23 million in the first nine months (9M) of 2023, versus SAR 71.91 million in the same period of 2022. The revenues declined by …
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7 November 2023 03:43 PM Retal’s net profits drop 20% in 9M-23
Riyadh – Mubasher: Retal Urban Development Company reported a 20.32% decline in net profit after Zakat and tax to SAR 145.98 million in the first nine months (9M) of 2023, compared to SAR 183.20 million in the same period of 2022. Meanwhile, the …
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12 October 2023 02:51 PM EGX-listed Madinet Masr comments on Saudi PIF acquisition news
Cairo – Mubasher: Madinet Masr for Housing and Development Company stated that its management did not receive any letters regarding an acquisition by the Saudi sovereign fund, according to a bourse filing. The Egyptian Exchange (EGX) listed …
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12 October 2023 11:53 AM Egypt, Saudi Arabia, UAE, dominate MENA’s $3trn construction projects – JLL
Mubasher: The aggregated estimated value of the construction development pipeline in the MENA region has surpassed $3 trillion with Egypt, Saudi Arabia, and the UAE acquiring more than 60% of it, according to JLL’s Construction Market Intelligence …
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8 October 2023 02:53 PM Saudi ARDCO, Misk to develop educational facilities in Riyadh
Riyadh – Mubasher: Riyadh Development Company (ARDCO) recently signed a 25-year framework agreement with Mohammed bin Salman Foundation (Misk) to carry out educational facilities in Riyadh, starting with a 22,000 square metres site in Tilal …
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3 October 2023 05:11 PM Banan Real Estate buys asset for nearly SAR 20m, secures funding from Riyad Bank
Riyadh – Mubasher: Banan Real Estate Company has purchased a 10,069 square metres land plot in the Al Qadisiyah district in Riyadh for SAR 19.93 million. The transaction, which was completed on 31 August 2023, was funded through Islamic facilities …
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2 October 2023 03:01 PM Ladun Investment unveils SAR 75m purchase deal
Riyadh – Mubasher: Ladun Investment Company bought land in Riyadh at a value of SAR 75 million on 1 October 2023, according to a bourse disclosure. Located in the Al Rimal neighborhood, the land spans 50,000 square metres, according to a bourse …
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2 October 2023 09:35 AM Sumou Real Estate inks SAR 120m development agreement
Riyadh – Mubasher: Sumou Real Estate Company penned a development management agreement with Asmou Real Estate Development Company at a value of SAR 120 million. The 24-month deal covers a mixed-use high-rise towers project in Jeddah, according to …
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20 September 2023 05:25 PM Wasalt obtains infath nod for hybrid, e-auctions
Riyadh – Mubasher: Wasalt, an online real estate platform, has secured a licence from the Entrustment and Liquidation Center (infath) to organise and manage both electronic and hybrid auctions. This collaboration will enable Wasalt to provide its …
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20 September 2023 02:45 PM Saudi gov’t signs MOU with LOGIC Consulting to endorse real estate sector
Riyadh – Mubasher: The Saudi Ministry of Municipal, Rural Affairs, and Housing signed a memorandum of understanding (MoU) with LOGIC Consulting to support and empower services in order to enhance the capabilities of property contractors and …
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17 September 2023 00:50 PM SCAVO eyes $1.5trn development projects in Saudi Arabia
Riyadh – Mubasher: SCAVO, a partnership between Saudi Contractors Authority (SCA) and Ventures Onsite, plans to reshape the way construction projects are developed in Saudi Arabia. The online construction intelligence platform tracks more than …