Real Estate

Riyadh – Mubasher: ROSHN Group, PIF giga-project, inked an agreement exceeding SAR 215 million with partner developer Dar Al Arkan, according to a press release. The two developers sealed the deal following a similar agreement last year, that will …

Riyadh – Mubasher: Knowledge Economic City announced signing two contracts with Elkhereiji Commerce and Contracting Company for Al Alya project at a combined value of SAR 288.60 million. The two deals were awarded and signed on 4 April 2024, …

Riyadh – Mubasher: Thakher Development Company has unveiled progress on its SAR 26 billion ($7 billion) premium development, Thakher Makkah, according to a press release.  The development project features a mix of residential, retail and …

Mubasher: Investment Corporation of Dubai (ICD) and Brookfield Corporation (Brookfield) penned a deal with Olayan Financing Company and Lunate for the sale of a 49% stake in ICD Brookfield Place (ICDBP), according to a press release. Under the …

Riyadh – Mubasher: Nadhmi Al Nasr, CEO of Saudi Arabia's flagship project to diversify its economy away from oil, NEOM, is set to host a roadshow in Hong Kong to attract investors to support the mega-development. Scheduled for April 19 at M+ in …

Riyadh – Mubasher: Saudi Real Estate Company (Al Akaria) has signed SAR 881.72 million contracts for construction and excavation works. The first contract was signed at a value of SAR 722.09 million with Diriyah Gate Company Limited (DGCL) for the …

Riyadh - Mubasher: NEOM emerges as the most preferred project for expatriate investors in Saudi Arabia, according to the Saudi Gazette. A survey conducted by global property consultancy Knight Frank revealed that approximately 29% of expats in the …

Riyadh – Mubasher: Emaar The Economic City has rescheduled, on 1 April 2024, a facility agreement offered by the Public Investment Fund (PIF) to be extended from 18 months to 21 months. The loan is worth up to SAR 1 billion and was originally …

Riyadh – Mubasher: ROSHN Group has launched its fifth integrated mixed-use community ALMANAR at Makkah’s western gate. Situated at 2.50 million square meters, the first phase of the project is set to provide 4,149 residential units with the …

Riyadh – Mubasher: Emaar The Economic City registered a 78.13% decrease in net loss during 2023 to SAR 253 million from SAR 1.15 billion in 2022. The loss per share also plunged to SAR 0.22 last year when compared with SAR 1.02 in 2022, according …

Riyadh – Mubasher: Arabian Centres Company (Cenomi Centers) logged a 48.77% year-on-year (YoY) surge in net profit to SAR 1.50 billion in 2023 from SAR 1 billion a year earlier. Revenues grew 2.13% YoY to SAR 2.25 billion last year from SAR 2.20 …

Riyadh – Mubasher: The net profit of Makkah Construction and Development Company leapt 114.10% year-on-year (YoY) to SAR 334 million in 2023 from SAR 156 million. Revenues soared 58.57% YoY to SAR 731 million last year from SAR 461 million, …

Riyadh – Mubasher: Jabal Omar Development Company shifted to profitability in 2023, recording a consolidated net profit of SAR 37.48 million, compared to a net loss of SAR 352.43 million a year earlier. Revenues surged 56.18% year-on-year (YoY) to …

Riyadh – Mubasher: Jabal Omar Development Company has received a license from the Saudi Ministry of Tourism to operate the third tower of the Jabal Omar Jumeirah hotel with a five-star rating. The third tower includes 244 luxurious and …

Riyadh – Mubasher: Lana Medical Company has announced that its unit Lana Contracting Company won a contract for restoration, furnishing, and modifications to the buildings of the Peninsula Shield Forces in Hafr Al-Batin. The SAR 7.99 million …

Riyadh – Mubasher: Egypt Gulf Elevators and Escalators Company, a subsidiary of the Saudi Arabian Mayar Holding Company has signed two contracts with Total Air Projects Company with a total value of EGP 840 million. The contracts include supplying …

Riyadh – Mubasher: Saudi Arabian Amiantit Company has signed six contracts for its 100%-owned subsidiaries with several contractors at a total value of SAR 174 million. The contracts include supply and installation of pipes for several strategic …

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, …

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 …

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 …

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. …

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 …

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 …