Real Estate

27 January 04:26 PM AlAhli REIT appoints new operator of AlAndalus Mall

Riyadh – Mubasher: The Board of Directors of AlAhli REIT Fund has approved appointing AlAndalus Property Company as the operator of AlAndalus Mall, NCB Capital announced on Monday. AlAndalus will replace Hamat Property Company as the new operator …

Companies Investments

The acquisition is likely to reflect positively on the fund’s financials

23 January 04:56 PM AL Maather REIT Fund seals SAR 31m deal to purchase property

Riyadh – Mubasher: AL Maather REIT Fund signed an agreement to buy the real estate property of Al Nokhba Educational Schools on Wednesday, 22 January, at a value of SAR 31 million. The acquisition will be subject to the competent regulatory …

The two entities inked an MoU

21 January 07:14 PM SRC buys SAR 250m mortgage portfolio from Bank Aljazira

Riyadh – Mubasher: The Saudi Real Estate Refinance Company (SRC), a subsidiary of the Saudi Public Investment Fund (PIF), on Tuesday signed an agreement with Bank Aljazira to buy a SAR 250 million mortgage portfolio, the Saudi Press Agency …

Mulkia Investment will distribute SAR 10.2 million to the REIT unitholders

16 January 10:18 AM Mulkia Gulf REIT to distribute SAR 0.17/unit

Riyadh – Mubasher: Mulkia Investment Company announced the distribution of SAR 10.2 million in cash dividends to Mulkia Gulf Real Estate REIT Fund unitholders for the fourth quarter (Q4) of 2019. The amount of profit distributed per unit stands at …

The distribution amount represents 1.9% of the REIT fund unit’s original price

13 January 05:01 PM Jadwa REIT Saudi to distribute SAR 0.19/unit

Riyadh – Mubasher: Jadwa Investment Company announces the distribution of SAR 30.02 million cash dividend to Jadwa REIT Saudi Fund’s unitholders for the fourth quarter (Q4) of 2019. SAR 0.19 will be distributed per unit to 158 million units, …

World Academy - King Abdullah Economic City

13 January 01:41 PM KAEC inks SAR 38m deal for residential project

Riyadh – Mubasher: King Abdullah Economic City (KAEC) has signed a contract worth more than SAR 38 million for construction works in the Ajdan residential project. Group CEO Ahmed Linjawy said the city is attracting demand on its residential …

Sukuk proceeds will be used to acquire real estate assets in Europe

13 January 12:44 PM First asset-backed SAR 1bn Sukuk launched in Saudi Arabia

Riyadh – Mubasher: Neo Merchants Capital launched a domiciled asset-backed Sukuk programme, the first asset-backed SAR-denominated Sukuk programme in Saudi Arabia issued by a special purpose entity licensed by the Saudi Capital Market Authority …

The real estate market in Dubai is set to flourish this year

10 January 08:07 PM Ten reasons for confidence in Dubai’s real estate sector

By: Muhammad Abdul-Wakeel UAE – Mubasher: The real estate market in Dubai is set to flourish this year, backed by a series of positive indicators that are promising great outlook for the sector. Chairman of W Capital Real Estate Brokerage Company …

Off-plan properties remained the top preference for investors

7 January 05:03 PM Dubai records highest property sales in 11 years

By: Muhammad Abdul-Wakeel UAE – Mubasher: A total of 41,988 real estate transactions were registered in the UAE’s Emirate of Dubai in 2019, up 20% from the year before, according to data released by Data Finder, a platform affiliate to Property …

50% of AMAN REIF will be offered in a private offer

31 December 2019 03:48 PM Oman's AMAN REIF to launch IPO on Thursday

Mubasher: Omani fund under formation AMAN REIF has announced that its initial public offering (IPO) is set to be launched on Thursday, 2 January 2020 and last for 15 days until 16 January. The announcement took place during a press conference held …

The number of housing loans increased by 254%

31 December 2019 01:08 PM Mortgage loans in KSA reach SAR 69bn in 11M

Riyadh – Mubasher: Financing institutions in Saudi Arabia offered 155,893 mortgage loans worth SAR 69 billion ($18.395 billion) in the first eleven months of 2019, as per official data. The number of housing loans increased by 254%, while its …

Banking and Finance

The deal's legal procedures were completed successfully

26 December 2019 09:13 PM Derayah Financial transfers real estate asset for SAR 29m

Riyadh – Mubasher: Derayah Financial, the fund manager of Derayah REIT, has announced the transfer of a logistics real estate asset in Dammam. The legal and technical procedures of the deal were completed successfully, according to a bourse …

The IPO shares represent 30% of Amlak International’s capital

26 December 2019 11:29 AM CMA approves Amlak International IPO

Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has approved Amlak International for Real Estate Finance Company's initial public offering (IPO) of 27.18 million shares, representing 30% of the company's capital. The offering …

The first property is a SAR 210 million school

25 December 2019 07:49 PM Al Rajhi REIT Fund acquires SAR 230m properties in Riyadh

Riyadh – Mubasher: Al Rajhi Capital’s Al Rajhi REIT Fund has acquired two properties in Riyadh, according to a bourse statement released on Wednesday. The first property is a SAR 210 million school with a total built-up area of 39,028 square …

The property is a 3-star hotel apartments building

24 December 2019 07:12 PM Mulkia Investment’s fund acquires SAR 50m property in Riyadh

Riyadh – Mubasher: Mulkia Investment has announced that its Mulkia Gulf Real Estate REIT bought a SAR 50 million hotel apartments building in Riyadh city’s Namuthagiyah district. The property is a 3-star hotel apartments building that spans 11,613 …

Rowad AlKhaleej International School

24 December 2019 04:44 PM Al Rajhi REIT acquires school in Dammam for SAR 245m

Riyadh – Mubasher: Al Rajhi REIT Fund has completed the acquisition of Rowad AlKhaleej International School in Dammam for SAR 244.5 million, Al Rajhi Capital announced on Tuesday. The deal is part of the approved process of increasing the total …

The new section features various buildings

24 December 2019 04:16 PM Bayut offers new guides for popular towers across the UAE

UAE - Mubasher: Dubai-based property website Bayut has launched a new section for Building Guides including full details about the property types, amenities available, service charges, and the average cost for renting and buying in popular towers …

Around 1.22 million homes are likely to be constructed in KSA during 2020-2030

24 December 2019 02:57 PM Saudi untapped mortgage market nears SAR 500bn - Al Rajhi Capital

Riyadh – Mubasher: Al Rajhi Capital estimates the size of untapped mortgage potential in Saudi Arabia at around SAR 500 billion ($133.3 billion), roughly a third of the current private-sector loan portfolio that totals SAR 1.5 trillion. The …

Banking and Finance

Riyad Capital was the manager of the SAR 300 million Sukuk issuance

23 December 2019 01:50 PM Bidaya Home Finance issues SAR 300 million Sukuk

Riyadh – Mubasher: Bidaya Home Finance has launched SAR 300 million two-year Sukuk under its recently established SAR 1 billion Sukuk program. This is the fourth Sukuk issuance for the company in the domestic Sukuk market, according the company’s …

Sukuk and Islamic Finance

DoubleTree by Hilton Makkah Jabal Omar

23 December 2019 00:35 PM Jabal Omar launches Makkah Doubletree Hotel

Riyadh – Mubasher: Jabal Omar Development Company has launched its new Doubletree Hotel in Makkah. The new hotel was was launched on Monday 22 December, according to the company’s statement to the Saudi Stock Exchange (Tadawul). The hotel consists …

The school will be constructed on a land area of 7,000 square meters

22 December 2019 10:41 AM Al Maather REIT inks deal with Al Roqi Schools

Riyadh – Mubasher: Osool & Bakheet Investment Company, the fund manager of Al Maather REIT Fund, has signed a Memorandum of Understanding (MoU) with Al Roqi National Schools Company to establish a new school building. The agreement involves …

Musharaka Capital expects positive impacts from the inclusion in the FTSE EPRA Nareit Global index

18 December 2019 11:41 AM Musharaka REIT joins FTSE EPRA index

Riyadh – Mubasher: Musharaka Capital Company announced the inclusion of Musharaka REIT fund in the benchmark FTSE EPRA Nareit Global Real Estate Index Series. The index is specialized in real estate investment trusts (REITs) and real estate …

Trading Activities

Sawiris set the mastering plan for Andermatt

11 December 2019 11:08 AM Except for El Gouna, all projects came by coincidence – Samih Sawiris in RiseUp

By: Ingy ElSafy Cairo -Mubasher: On the final day of the RiseUp Summit 2019, the Egyptian tycoon Samih Sawiris was hosted to talk to the attendees about different topics and events, whether by speaking out on personal or business matters. The …

Land plots in the diplomatic district are sold at $400 per metre

11 December 2019 10:46 AM Chinese, Saudi embassies request to move to Egypt’s new capital

By: Islam Fadl Cairo – Mubasher: About 60 embassies have submitted requests to the Egyptian Ministry of Foreign Affairs to obtain land plots in the diplomatic district in the New Administrative Capital, the official spokesman for the project …

Sales grew to KWD 825m in Q3

7 December 2019 07:13 PM Commercial sector drags down property sales in Kuwait – NBK

By: Muhammad Abdul-Wakeel Mubasher: Property sales in Kuwait declined by 31% month-on-month, 26% year-on-year, in October, recording KWD 211 million, on the back of the commercial sector. During the third quarter of 2019, sales grew 2.8% …