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Real Estate

Saudi Ceramic will partially fund the transaction through a Murabaha loan
15 July 01:04 PM Saudi Ceramic buys asset for SAR 56m
Riyadh – Mubasher: Saudi Ceramic Company has signed an agreement on 14 July to purchase a land plot for SAR 55.9 million, excluding real estate tax. The asset spans an area of 111,827 square metres and is located in the new industrial area in …
Etmam granted the certificate to Deer Real Estate
13 July 05:24 PM Al Naqool’s subsidiary receives qualification certificate from Etmam
Riyadh – Mubasher: Deer Real Estate Company, a subsidiary of Mohammed Hassan Al Naqool Sons Company, has obtained a certificate from the Developers Services Center (Etmam), affiliated to the Ministry of Municipal and Rural Affairs and Housing. The …
The asset is located in Riyadh and spans an area of 3,990 square metres
5 July 05:33 PM Al Naqool buys land plot for SAR 16m
Riyadh – Mubasher: Mohammed Hasan Al Naqool Sons Company has purchased a land plot for a total value of SAR 15.87 million in Al Malqa district, according to a bourse filing on Monday. The asset, which is located in Riyadh and spans an area of …
The financial impact of this acquisition is expected to be positive
28 June 04:37 PM Sumou Real Estate acquires 10% stake in property firm
Riyadh – Mubasher: Sumou Real Estate Company has acquired 10% equity in Tanal Real Estate Development and Investment Company for SAR 68.05 million. The financial impact of this stake acquisition is expected to be positive and reflect on the income …
The last payment in June 2030 will be worth SAR 800 million
27 June 12:58 PM Emaar The Economic City receives ministerial nod for rescheduling SAR 5.36bn loan
Riyadh – Mubasher: Emaar The Economic City has received the Ministry of Finance’s approval for rescheduling the payment of a loan totalling SAR 5.36 billion. The company also obtained ministerial approval for capitalising debt commissions for the …
The firm will pay SAR 0.19 per unit as a dividend
24 June 05:26 PM Jadwa REIT Saudi Fund’s unitholders to receive SAR 30m dividends
Riyadh – Mubasher: Jadwa Investment Company will distribute cash dividends worth SAR 30.02 million to the unitholders of Jadwa REIT Saudi Fund. The firm will pay SAR 0.19 per unit as a dividend, with the number of eligible units standing at 158 …
The contract's revenues and profits will be realised in Q3-21
16 June 04:47 PM Red Sea International signs SAR 53m deal with AlUla
Riyadh – Mubasher: Red Sea International Company has penned a three-month contract worth SAR 52.93 million with the Royal Commission of AlUla, according to a bourse disclosure on Wednesday. The listed company will design, construct, supply, and …
The funding will be directed to the infrastructure works of NHC’s current and future projects
2 June 04:51 PM National Housing pens SAR 2bn Murabaha deal with Bank Albilad
Riyadh – Mubasher: The Saudi Minister of Municipal, Rural Affairs, and Housing, Majid bin Abdullah Al Hogail, witnessed the signing of a Murabaha funding agreement worth SAR 2 billion between National Housing Company (NHC) and Bank Albilad, the …
Sales grew 86% to SAR 182.6 million in Q1-21
23 May 05:00 PM Al Akaria’s Q1 losses widen 59%
Riyadh – Mubasher: Saudi Real Estate Company (Al Akaria) posted a net loss after Zakat and tax of SAR 4.6 million during the first three months of 2021, higher by 58.6% than SAR 2.9 million in the first quarter (Q1) of 2020. Loss per share stood …
Sales decreased 6% to SAR 554.84 million in Q1-21
23 May 10:41 AM Dar Alarkan’s net profit jumps 130% in Q1
Riyadh – Mubasher: Dar Alarkan Real Estate Development Company recorded a leap of 129.6% in net profit after Zakat and tax to SAR 28.52 million during the first quarter (Q1) of 2021, compared to SAR 12.42 million in the same period a year earlier. …
Basil Ramzy, CEO of Marakez, and Adel Hamed, CEO of Telecom Egypt
25 April 01:13 PM Telecom Egypt inks cooperation protocol with Marakez
Cairo – Mubasher: Telecom Egypt signed a protocol of cooperation with Marakez, a subsidiary of Fawaz Abdulaziz Alhokair Co, to provide integrated communications and internet services to the projects owned by the property developer. Under the …
The loan will have a 15-year tenor
20 April 01:52 PM Red Sea Development to finalise SAR 14bn green loan
Riyadh – Mubasher: Saudi Arabia’s Red Sea Development Company is set to conclude a green loan worth SAR 14 billion with local banks, with the proceeds to be used in funding environmentally sustainable investment, Bloomberg reported. Saudi National …
SRC reportedly completed a dual tenor of seven- and 10-year sukuk issuances
15 April 03:13 PM Fitch assigns Saudi Real Estate Refinance first-time 'A' IDR
Riyadh – Mubasher: Fitch Ratings has placed Saudi Real Estate Refinance Company (SRC) a long-term issuer default rating (IDR) of 'A', with negative outlook. As for the company’s operating performance, Fitch expected SRC's capitalisation to remain …
The dividends will be paid as SAR 0.13 per unit
14 April 10:28 AM Mulkia Gulf Real Estate’s unitholders to get SAR 9m dividends
Riyadh - Mubasher: Mulkia Investment Company announced the distribution of SAR 8.85 million worth of cash dividends to the unitholders of Mulkia Gulf Real Estate REIT Fund for the period from 1 January to 31 March this year. The dividends will be …
Infrastructure of the development is designed to minimize its carbon footprint
13 April 01:38 PM Red Sea Development to build Coastal Village for 14,000 employees
Riyadh – Mubasher: The Red Sea Development Company is commencing the infrastructure works at Coastal Village, which is expected to house approximately 14,000 employees who will eventually work at the destination. The Saudi developer awarded the …
The two properties have a total land area of 261 square metres
13 April 01:06 PM Jadwa to merge two properties and develop new hotel tower
Riyadh – Mubasher: Jadwa Investment Company announced the merger of the two property title deeds related to Tharawat Wadi Ibrahim Hotel and the restaurant building to develop a hotel tower. The merged title deed has a total land area of 261 square …
Sumou’s number of shares will increase by 12.5 million
8 April 04:45 PM Saudi CMA approves for Sumou SAR 125m capital hike
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) gave the green light for Sumou Real Estate Company’s request to increase the capital by SAR 125 million from the retained earnings balance. Sumou aims to raise the capital to SAR 375 …
The company's revenues decreased by 42.238% in 2020
31 March 01:44 PM Emaar The Economic City's net losses deepen in 2020
Riyadh – Mubasher: The net losses after zakat and tax of Emaar The Economic City hiked by 134.146% to SAR 1.248 billion in 2020 from SAR 533 million in 2019. The increase in net losses is driven by lower revenues and gross profit in 2020 due to a …
The company generated revenues of SAR 499.9m in 2020
30 March 09:52 AM Al Akaria's net losses decline 24.5% in 2020
Riyadh – Mubasher: The net losses after zakat and tax of Saudi Real Estate Company (Al Akaria) decreased by 24.517% to SAR 140.7 million in 2020 from SAR 186.4 million in 2019. The company incurred lower losses due to lower rental revenues with an …
REIF achieved an initial closing at a total value of SAR 2.8 billion
22 March 12:43 PM Jadwa Investment launches real estate investment fund
Riyadh – Mubasher: Jadwa Investment announced on Monday the launch of its Real Estate Investment Fund (REIF) in partnership with Tatweer Holding Group, Riyad Bank and Bank Albilad. “The objective of the fund is to provide investors with a stable …
The company also plans to issue Sukuk denominated in US dollars by the end of this year.
9 March 11:08 AM Saudi Real Estate Refinance Co sells domestic Sukuk
Riyadh – Mubasher: Saudi Real Estate Refinance Co (SRC), modelled on US mortgage finance firm Fannie Mae, has issued SAR 4 billion ($1.07 billion) in a two-tranche private placement of Sukuk last week, the company’s chief executive, Fabrice …
The Saudi Minister of Justice, Walid Al-Samaani.
2 March 12:30 PM Saudi Arabia to launch real estate stock market - Minister
Riyadh – Mubasher: Saudi Arabia will launch a real estate stock market where real estate properties can trade accurately, confidently, and quickly through a digital platform.   The announcement was made by the Saudi Minister of Justice, Walid …
Tamear will become a fully-owned subsidiary of Al Akaria.
1 March 11:39 AM Al Akaria raises stake in subsidiary to 100%
Riyadh – Mubasher: Saudi Real Estate Company (Al Akaria) has purchased the entire stake of Kaya Homes for Construction, Contracting, Tourism, Trade and Industry, in the Saudi Real Estate Construction Company (Tamear), in which it owns a 60% …
The project's material impact will reflect throughout the first, second, third, and fourth quarters of 2021.
1 March 11:06 AM Al Akaria’s unit pens SAR 104.7m deal with Saudi Entertainment Ventures
Riyadh – Mubasher: Saudi Real Estate Infrastructure Company (Binyah), a subsidiary of Saudi Real Estate Company (Al Akaria), has signed a contract with Saudi Entertainment Ventures Company (SEVEN) to implement preparatory works for the …
Revenues of the real estate developer shrank by 46% yearly in 2020.
28 February 04:29 PM Sumou Real Estate reports higher annual profit, plans 50% capital raise
Riyadh – Mubasher: Sumou Real Estate Company’s net profit for 2020 increased by 2.3% on a yearly basis, reaching SAR 71.38 million. Revenues of the real estate developer shrank by 46% in 2020 to SAR 97.2 million from SAR 179.99 million in 2019, …