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Cash distributions will be based on 162.88 million existing units
17 November 11:02 AM Bonyan REIT holders to receive SAR 0.37/unit dividends
Riyadh – Mubasher: Saudi Fransi Capital announced the distribution of SAR 59,86 million cash dividends to Bonyan REIT Fund unit holders for the period from 1 May 2019 to 31 October 2019. Cash distributions will be based on 162.88 million existing …
Dar Al-Arkan Chairman ringing today's session opening bell in Nasdaq Dubai
13 November 04:14 PM Dar Al-Arkan lists $600m Sukuk on Nasdaq Dubai
Riyadh – Mubasher: Dar Al-Arkan Real Estate Development Company, listed on the Saudi Stock Exchange (Tadawul), has listed $600 million Sukuk on Nasdaq Dubai. The five-year Sukuk issuance was more than 2.5 times oversubscribed, with investors from …
MARAKEZ  has set an EGP 17 billion investment plan in Egypt
11 November 03:24 PM MARAKEZ borrows EGP 395m from Emirates NBD Egypt to develop Mall of Arabia
Cairo – Mubasher: MARAKEZ for Real Estate Investment, a subsidiary of Saudi Fawaz Abdulaziz Alhokair, has signed a long-term loan agreement worth EGP 395 million with Emirates NBD Egypt. “The facility will be used to finance Mall of Arabia’s …
The company already received the first tranche of the loan
10 November 05:11 PM Makkah Construction pens SAR 450m credit facility with Bank Albilad
Riyadh – Mubasher: Makkah Construction and Development Company has signed a SAR 450 million credit facility with Bank Albilad. The nine-year facility will be used to finance renovation and development in hotels and towers in Makkah, according to …
Revenues of the Saudi firm decreased to SAR 129 million in Q3-19
10 November 04:34 PM Makkah Construction logs SAR 209m profits in 9M
Riyadh – Mubasher: Makkah Construction and Development Company reported a 9.7% year-on-year drop in its net profits during the third quarter of 2019, registering SAR 74 million. Revenues of the Saudi firm decreased by 10.4% to SAR 129 million in …
Total revenues grew by 27.2% to SAR 87.8 million in Q3-19
6 November 04:49 PM Al Akaria’s Q3 profits fall 29%
Riyadh – Mubasher: Saudi Real Estate Company (Al Akaria) posted a 29% year-on-year decline in net profits for the third quarter of 2019, registering SAR 9 million. Total revenues grew by 27.2% to SAR 87.8 million in Q3-19, compared to SAR 69 …
The new rent deal will extend for 15 years
5 November 03:59 PM Musharaka REIT to acquire new property in Riyadh worth SAR 70m
Riyadh – Mubasher: Musharaka REIT is about to acquire new property in Riyadh with a total value of SAR 70 million, after been assessed by two accredited assessors, according to Musharaka Capital’s statement to the Saudi Stock Exchange (Tadawul) on …
The newly launched initiative aims to build human competencies
4 November 04:48 PM Saudi gov’t adopts new building technology initiative
Riyadh – Mubasher: Saudi Arabia’s government has launched a new initiative “We build the nation with a vision moving against time” in a step to transform the Saudi construction sector from a sector that relies on traditional methods of …
Al Rajhi REIT Fund unit holders approves asset increase to SAR 2.4bn
3 November 12:03 PM Al Rajhi REIT Fund unit holders approves asset increase to SAR 2.4bn
Riyadh – Mubasher: Al Rajhi Capital revealed that owners of Al Rajhi REIT Fund Units have approved increasing the fund’s total assets to SAR 2.411 billion instead of SAR 1.72 billion through acquiring new real estate assets, according to a bourse …
The land will be used to build and operate a 5-star hotel
31 October 03:26 PM Dur Hospitality, Awqaf pen MoU to develop project in Madinah
Riyadh – Mubasher: Dur Hospitality Company has signed a memorandum of understanding (MoU) with Saudi Arabia’s General Authority of Awqaf to develop a land plot in Madinah. The land plot number 125 is located in the northern area of Al Masjid in …
Jabal Omar incurred SAR 49.25 million in losses in nine months
30 October 03:53 PM Jabal Omar turns to losses in 9M
Riyadh – Mubasher: Jabal Omar Development Company swung to losses over the third quarter of 2019, suffering SAR 80.62 million, versus SAR 469.62 million in profits in Q3-18. Revenues of the Saudi-based firm fell by 81.8% year-on-year to SAR 240.29 …
The mall is located in the heart of Sabah Al Ahmad Sea City
27 October 10:58 AM Tamdeen Group launches MENA's first hybrid outlet mall
Mubasher: Tamdeen Group has launched, through its subsidiary Tamdeen Pearl, Al Khiran Mall to be the first hybrid outlet, leisure, and lifestyle destination in the region. In addition, the project will add great value to shoppers in response to …
Apartment rents declined in Ajman
23 October 04:49 PM Properties in Sharjah, Ajman remain attractive – Report
UAE – Mubasher: Property prices in the UAE’s cities of Sharjah and Ajman inched down in the third quarter of 2019, stabilising in Ajman Downtown and Muwaileh, according to a report released by Bayut on Wednesday. Rents in Al Majaz, Al Khan, …
The new HQ is set for completion in June 2021
21 October 11:08 AM Visa appoints Sweid & Sweid to build new regional HQ in Dubai
Dubai – Mubasher: The world’s leading digital payment provider Visa has hired the international real estate developer Sweid & Sweid to set up its new Dubai headquarters for the Central and Eastern Europe, Middle East and Africa (CEMEA) region. …
Grand Union is Developed by St George PLC, Berkeley Group
17 October 05:13 PM Major trending investments in London include Battersea Power Station – Savills
Mubasher: Companies invest into the real estate market in London, so too are developers, by offering increasingly attractive opportunities, the leading real estate advisor, Savills Middle East, said. In a high-profile event at the UK Embassy in …
Prime London residential property values are forecast to show recovery
17 October 04:28 PM Savills: Outbound investment in real estate from Middle East rises 62%
Mubasher: Investment in the global real estate market is showing faster growth than any other region, while outbound investment in properties from the Middle East region has soared by 62% during the first half of 2019, Savills said. In a …
The suspension will be implemented starting from Monday
14 October 09:25 AM Tadawul suspends trading on National Building’s stock
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) announced that it has suspended National Building and Marketing Company’s stock from trading, as the company did not report its financial statements for the second quarter of 2019 during the …
Real estate sector remains a safe haven
12 October 05:44 PM Kuwaiti property market to recover in Q4-19
Mubasher: The Kuwaiti property market is expected to recover in the fourth quarter of 2019 after stagnation in the summer, developers told the Kuwait News Agency. Prices of commercial property are currently stable while the demand is regular, …
The two plots of land total 840 square meters and 630 square meters
10 October 11:47 AM Gulf North Africa's unit sells assets in Saudi Arabia
Mubasher: Gulf Morocco Co, a fully owned subsidiary of the Gulf North Africa Holding Company, signed a contract to sell two land plots in Al Nada District in Riyadh. The subsidiary's share from selling the asset totals SAR 2.431 million (KWD …
The issuance received significant interest from international market participants
10 October 11:12 AM Dar Alarkan completes issuing US fixed-rate RegS Senior unsecured Sukuk
Riyadh – Mubasher: Dar Alarkan Real Estate Development Company has completed issuing US fixed-rate RegS Senior Unsecured Sukuk. The company has successfully closed the sixth tranche Sukuk issuance under its dollar-denominated Islamic Sukuk …
The population of Saudi Arabia is projected to grow by 5 million in the coming ten years
6 October 02:18 PM Saudi outlook of economic transformation seems optimistic - Colliers
Riyadh – Mubasher: The overall outlook of the economic transformation in Saudi Arabia backed by 2030 Vision may seem optimistic with Saudis having the ambition to make this transformation real, Colliers International said in a recent paper on …
The company is seeking finance
3 October 10:15 AM Dar Alarkan to launch new projects by 2020
Riyadh – Mubasher: Dar Alarkan Real Estate Development Company is planning to embark on new projects by 2020, chairman Youssef Al Shelash told CNBC Arabiya. The decline in interest rates in Saudi Arabia has supported the company’s decision to seek …
The approval is not an endorsement
2 October 09:06 PM Saudi financial regulator approves hike of Al Rajhi REIT Fund’s assets value
Riyadh – Mubasher: Saudi Arabia’s Capital Market Authority has approved Al Rajhi Capital's request to increase Al Rajhi REIT Fund’s total assets value by issuing additional units for the purpose of acquiring real estate assets, according to a …
The factory will be situated on 12,308 sqm
2 October 04:58 PM Al Kathiri Holding’s unit receives SAR 23.2m loan
Riyadh – Mubasher: Al Kathiri Holding Company has announced that its subsidiary, Alian Industrial Company, secured SAR 23.2 million credit facility from Saudi Industrial Development Fund. The loan will be used to finance the building of the …
Ssukuk issuance will be subject to approvals from competent authorities
2 October 10:38 AM Dar Alarkan mulls issuing US fixed rate ‘’RegS’’ senior unsecured sukuk
Riyadh – Mubasher: Dar Alarkan Real Estate Development Company announced its intention to issue five-year Regulation S US fixed rate benchmark senior unsecured sukuk, based on the board meeting held on 10 September 2019 corresponding to 11/1/1441 …