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The investment cost of the project is valued at EGP 250 million
18 September 06:11 PM Saudi Alhokair’s unit partners with Egypt’s NSPO to build shopping mall
By: Abdullah Bedeir Cairo – Mubasher: Marakez for Real Estate Investment, a subsidiary of Saudi Fawaz Abdulaziz Alhokair, has obtained a land plot in Cairo’s El-Salam City from the National Service Products Organization (NSPO), the company’s chief …
The project has generated sales of EGP 1.9 billion to date
18 September 04:26 PM Saudi Alhokair's unit targets EGP 800m sales from AEON’s final phase
By: Abdullah Bedeir Cairo – Mubasher: Marakez for Real Estate Investment, the Egyptian arm of Saudi Arabia’s Fawaz Abdulaziz Alhokair, aims to achieve sales of EGP 800 million from the final phase of AEON residential project in Sheikh Zayed, the …
Abuateek has a wide experience in the financial and real estate sector
16 September 12:45 PM Umm Al Qura For Development and Construction names new CEO
Riyadh – Mubasher: Umm Al Qura for Development and Construction Company announced that it has appointed Yasser Abuateek as its new CEO, according to a statement. The newly-apppointed CEO has a 20-year experience in the financial and real estate …
Jabal Omar Development Company's new CEO - Archive photo from Euromoney
15 September 01:08 PM Jabal Omar appoints new CEO
Riyadh – Mubasher: The board of directors of Jabal Omar Development Company approved to appoint Khalid Mohammed Al Amoudi as the company’s new CEO based on the nomination and remuneration committee’s recommendations. The newly appointed CEO will …
The project includes 4,775 villas
12 September 08:28 PM Saudi Arabia launches Madinat Al Wouroud
Riyadh – Mubasher: Governor of the Saudi Arabia’s Taif, Saad Al-Maimouni, has launched Madinat Al Wouroud project, Saudi Press Agency (SPA) reported on Thursday. Situated on 6.3 million shares, the project includes 4,775 villas, Al-Maimouni said. …
Mabanee’s profits hiked to KWD 14.05 million in Q2-19
11 September 05:04 PM Nesma and Partners to execute first phase of Avenues Riyadh – Mabanee
Mubasher: Mabanee Co. announced that the design and construction works of phase one of Avenues Riyadh will be awarded to Nesma and Partners Contracting Co at a value of SAR 6.15 billion. The deal was facilitated through Shomoul Holding Company, a …
Alkhabeer Land Development Fund II has raised SAR 850 million
9 September 04:49 PM Alkhabeer Capital exits Alkhabeer Land Development Fund II
Riyadh – Mubasher: The Saudi asset management company Alkhabeer Capital has successfully exited Alkhabeer Land Development Fund II (ALDF II) which achieved 44.6%in net cumulative returns to its investors, according to a press release on Monday. …
The new subsidiary will serve other clients along with Jabal Omar
9 September 11:18 AM Jabal Omar launches real estate marketing, sales, facility management arm
Riyadh – Mubasher: Jabal Omar Development Company, a leading real estate developer in the Middle East, on Monday announced it has launched Aliyat, a subsidiary specialised in real estate marketing, sales and facility management within destination …
Towlan Hotel Suites
8 September 03:57 PM Al Maather REIT Fund seals SAR 23.1m deal on Towlan
Riyadh – Mubasher: Al Maather REIT Fund has finalised a deal on purchasing Towlan Hotel Suites in Al Khobar City in Saudi Arabia on Thursday, 5 September 2019, Osool and Bakheet Investment Company announced in a bourse filing to the Saudi Stock …
The kingdom is in a try to overhaul a landfill-dominated waste-management industry
2 September 01:19 PM Saudi Arabia to build 1st recycling facility for construction debris
Riyadh – Mubasher: Saudi Arabia intends to establish the first recycling facility for construction debris in the capital, Riyadh, Bloomberg reported. The kingdom is in a try to overhaul a landfill-dominated waste-management industry. The Saudi …
Saudi Arabians account for 25% of Azizi Development’s total customers
28 August 03:42 PM Saudi Arabians become 2nd-largest investors in UAE’s Azizi Developments
UAE - Mubasher: Azizi Developments, a leading private developer in the UAE, announced it has recorded an 8% growth in sales to investors from Saudi Arabia between 2018 and 2019, becoming the second-largest customer demographic after Emiratis. …
The mall will create 10,000 jobs
23 August 08:52 PM Arabian Centres to operate Egypt’s Mansoura Mall in 2021
Riyadh – Mubasher: Saudi-based Arabian Centres Company is expecting to start the operation of the shopping mall in Egypt’s Mansoura in 2021. The company acquired 47-acre land in Mansoura to build the shopping mall that will be designed under the …
Munashaat suffered losses worth KWD 1.3 million in H1-19
21 August 04:57 PM Kuwaiti Munshaat’s subsidiary receives 25% rental cut in KSA
Mubasher: Munshaat Real Estate Projects Co announced that its fully owned subsidiary in Saudi Arabia, Munshaat for Projects and Contracting Co, has received a notification letter from competent authorities in KSA of a 25% reduction in the annual …
The countrywide growth rate is expected to reach 9% per year
21 August 04:06 PM Over 2,000 keys of branded supply joins Saudi market in Q2 – Colliers
Riyadh – Mubasher: More than 2,000 keys of branded supply joined the Saudi market during the second quarter of 2019, with 60% classified in the 4-star segment, Colliers International said in its quarterly review. 4-star supply typically caters to …
KEC will carry out the two phases of design works of Madinah Gate project
20 August 11:12 AM Knowledge Economic City inks SAR 14m deal with IBI
Riyadh – Mubasher: Knowledge Economic City (KEC) signed a SAR 13.59 million contract with the international project planning firm, IBI, to design Madinah Gate project. Under the 42-week contract, KEC will carry out the two phases of design works …
The event attracts senior-level decision makers
19 August 11:38 AM Cairo to host Intelligent Cities Exhibition & Conference on 23-24 October
Cairo – Mubasher: Cairo is set to host the fifth annual Intelligent Cities Exhibition & Conference (ICEC) on 23-24 October, according to a statement. The Middle East and Africa region’s leading smart and sustainable cities event will be organised …
Net profits after zakat and tax fell by 29% to SAR 21.5 million in Q2-19
8 August 05:00 PM Al Akaria’s Q2 profits fall 29%
Riyadh – Mubasher: Saudi Real Estate Company (Al Akaria) posted its interim financial results for the second quarter of 2019. Net profits after zakat and tax fell by 29% to SAR 21.5 million in Q2-19, compared to SAR 30.3 in Q2-18, according to the …
Net profits of Alandalus rose by 8.32%in H1
7 August 01:19 PM Alandalus Property’s Q2 profits grow 24%
Riyadh – Mubasher: Alandalus Property Company disclosed its consolidated interim financial results for the second quarter of 2019. Net profits after zakat and tax grew by 24.4% to SAR 15.13 million in Q2-19, compared to SAR 12.16 million in Q2-18, …
ARAD's chairman Sultan bin Ahmed Al Qasimi
5 August 04:09 PM UAE’s ARAD to expand footprint in Saudi Arabia, Egypt - Interview
By: Mahmoud Gamal UAE – Mubasher: The Sharjah-based Arad Real Estate Investment and Development Company (ARAD) currently considers a number of investment opportunities in Saudi Arabia, the company’s chairman Sultan bin Ahmed Al Qasimi said. The …
Net profits after zakat and tax declined by 30.9% in Q2-19
30 July 01:08 PM Dar Alarkan’s Q2 profits decline 31%
Riyadh – Mubasher: Dar Alarkan Real Estate Development Company reported its initial financial statements for the second quarter of 2019. Net profits after zakat and tax declined by 30.9% to SAR 74.96 million in Q2-19, compared to SAR 108.6 million …
The transaction will have a positive impact
25 July 09:48 PM Derayah REIT buys SAR 44m building
Riyadh – Mubasher: Derayah Financial, the fund manager of Derayah REIT, has announced the acquisition and transfer of SAR 44 million property through a banking facility. The legal and technical procedures were completed successfully, according to …
Saudi economy grew by 1.6% during the first three months of 2019
24 July 03:45 PM Saudi gov’t spending on megaprojects boosts real estate market – JLL
Riyadh – Mubasher: Saudi Arabia’s government continuous spending on major projects, along with growing developments in the entertainment sector, is likely to stimulate demand in the real estate market across the kingdom, reducing its reliance on …
The number of eligible units amounts to 122.2 million
23 July 08:52 PM Al Rajhi REIT Fund to pay SAR 39m cash dividends
Riyadh – Mubasher: Al Rajhi Capital on Tuesday announced the distribution of SAR 39.1 million cash dividends to unit-holders of Al Rajhi REIT Fund for the first six months of 2019. The number of eligible units amounts to 122.2 million, according …
The new project is set to house 10,000 construction workers
23 July 04:18 PM Red Sea Development awards contract to Emirati, Saudi companies
Riyadh – Mubasher: The Red Sea Development Company (TRSDC) has awarded a contract to two companies based in UAE and Saudi Arabia for the construction of a residential village for workers at the destination. Each of the winning companies, a joint …
Project owners in GCC have  awarded construction contracts worth $49 billion in H1-19
23 July 04:13 PM Saudi Arabia construction projects’ value hit $63bn in Q2 – BNC
Mubasher: Saudi Arabia is the first largest construction market in the GCC with total investments of $63.5 billion in the second quarter of 2019, according to a recent report by BNC Construction Intelligence. During the first six months of 2019, …