Real Estate

Derayah REIT Fund acquires properties at SAR 11m
30 December 2018 06:21 PM Derayah REIT Fund acquires properties at SAR 11m
Riyadh – Mubasher: Derayah Financial Corp on Sunday has announced that its wholly-owned Derayah REIT Fund purchased three buildings for housing workers in Dammam at a value of SAR 11 million ($2.93 million). The transaction was financed through …
The Kuwaiti real estate market has bucked the GCC's downward trend
25 December 2018 04:51 PM GCC property transactions drop 30% in 9M - Report
Mubasher: The value of the real estate sale transactions in the GCC, except Bahrain, has declined 30.7% year-on-year to $59.3 billion during the first nine months of 2018, according to a recent report released on Tuesday. This decline was ascribed …
10 December 2018 00:57 PM Saudi crown prince to launch SAR 6bn SPARK Monday
Saudi crown prince to launch SAR 6bn SPARK Monday
Saudi Arabia’s construction cost rises 1.9% in 12M — Report
26 November 2018 05:14 PM Saudi Arabia’s construction cost rises 1.9% in 12M — Report
Riyadh – Mubasher: The average of construction cost in Saudi Arabia advanced by 1.9% in the 12-month period between the third quarter of 2017 and the same period of this year, Colliers international said in a report. Future Outlook The global …
29 UAE firms make Top 100 GCC market cap list in 2018
26 November 2018 00:50 PM 29 UAE firms make Top 100 GCC market cap list in 2018
Dubai – Mubasher: A total of 29 UAE-based companies made Gulf Business’ list of 100 Best Companies in the GCC by Market Capitalisation for 2018. The report is issued annually in cooperation with Marmore MENA Intelligence. Several UAE banks made …
The real estate firms posted a net profit of SAR 457.41 million ($121.95 million) after calculating Zakat and Tax in Q3-18
12 November 2018 03:34 PM Saudi real estate firms turn profitable in Q3
By: Elsayed Gamal Riyadh – Mubasher: Companies listed on the Saudi Stock Exchange’s (Tadawul) real estate management and development sector turned a profit during the third quarter of 2018, against suffering losses in the year-ago period. The real …
Net profits amounted to SAR 12.67 million in Q3-18
11 November 2018 10:04 AM Saudi Real Estate logs SAR 88m profit in 9M
Riyadh – Mubasher: Saudi Real Estate Company on Sunday posted a 40.7% year-on-year drop in profits for the third quarter of 2018. Net profits amounted to SAR 12.67 million in Q3-18, compared to SAR 21.36 million in Q3-17, according to a filing to …
Emaar The Economic City suffers losses in Q3, 9M
8 November 2018 05:15 PM Emaar The Economic City suffers losses in Q3, 9M
Riyadh – Mubasher: Emaar The Economic City on Thursday said it suffered losses in the third quarter and nine-month period of 2018. The real estate developer incurred SAR 150 million ($39.99 million) in net losses after deducting zakat and taxes …
Red Sea International incurs SAR 39m in 9M
8 November 2018 04:43 PM Red Sea International losses surge in Q3, 9M
Riyadh – Mubasher: Saudi Arabia-based Red Sea International Co. on Thursday reported an 8.8% year-on-year increase in losses during the third quarter of 2018, and 309.2% surge in losses for the first nine months of the year. Red Sea …
Bin Talal’s KBW Investments mulls IPO, eyes UAE, Saudi project launches
8 November 2018 02:48 PM Bin Talal’s KBW Investments mulls IPO, eyes UAE, Saudi project launches
Mubasher: KBW Investments may implement an initial public offering (IPO) for its shares over the coming period, the firm’s founder and chairman Prince Khaled bin Alwaleed bin Talal told CEO Middle East in an interview. We are considering this …
The 15-year loan will be guaranteed through a promissory note
7 November 2018 05:19 PM AlAhli REIT Fund 1 obtains SAR 650m facility from NCB
Riyadh – Mubasher: AlAhli REIT Fund 1 has announced signing a sharia-compliant Ijara loan agreement with the National Commercial Bank (NCB) at a value of SAR 650 million ($173.29 million). The facility will be allocated for acquiring …
Dar Alarkan Real Estate Q3 profit drops 82%
5 November 2018 09:53 AM Dar Alarkan Real Estate Q3 profit drops 82%
Riyadh – Mubasher: Dar Alarkan Real Estate Development Co on Monday reported an 82.48% year-on-year decline in profits for the third quarter of 2018. Net profits retreated to SAR 36.73 million in the three-month period ended September, versus SAR …
The transaction was financed through sharia-compliant loans
1 November 2018 00:42 PM Al Rajhi REIT Fund acquires property for SAR 52.3m
Riyadh – Mubasher: Al Rajhi Capital on Thursday announced that Al Rajhi REIT Fund finished acquiring Lulu Central Logistics at a value of SAR 52.25 million ($13.93 million). The transaction was financed through sharia-compliant loans, according to …
The transaction will be financed through banking facilities
1 November 2018 00:16 PM Derayah REIT Fund acquires SAR 269m real estate assets
Riyadh – Mubasher: Derayah Financial on Thursday announced that Derayah REIT Fund has signed an agreement to acquire four logistic properties in the Kingdom at a combined value of SAR 269 million ($71.72 million). The expected period to complete …
Taiba Holding ascribed the third-quarter profit decrease to a decline in dividends from long-term investments
31 October 2018 10:49 AM Taiba Holding’s profit drops 18% in 9M
Riyadh – Mubasher: Taiba Holding Company on Wednesday reported a 3% year-on-year drop in its net profits after calculating Zakat and Tax during the third quarter of 2018, recording SAR 60.11 million ($16.03 million), from SAR 61.99 million ($16.53 …
The exhibition saw more than 500 exhibitors from 31 countries
30 October 2018 07:33 PM Saudi Build Exhibition concludes with success
Riyadh - Mubasher: The Saudi Build Exhibition 2018 has concluded on Tuesday at the Riyadh International Convention and Exhibition Center following the participation of more than 500 exhibitors from 31 countries. The event was held under the …
The 5,200 developments make up 35% of the value of the GCC’s active projects.
28 October 2018 04:52 PM Saudi Arabia sees SAR 3tn construction projects
Riyadh-Mubasher: Saudi Arabia’s current construction projects amounted to 5,200 with SAR 3 trillion ($819 billion) in investments, according to the organisers of The Big 5 Saudi, the Kingdom’s premier and fastest growing construction show. The …
Jabal Omar reported a net profit of SAR 469.62 million ($125.15 million) in Q3-18
23 October 2018 10:05 AM Jabal Omar Development turns profitable in Q3
Riyadh – Mubasher: Jabal Omar Development on Tuesday announced that it turned a profit during the third quarter of 2018, against incurring losses in the same period a year earlier. Jabal Omar reported a net profit of SAR 469.62 million ($125.15 …
The real estate market in the UAE will need time to regain its balance
7 October 2018 05:14 PM Real estate stocks in UAE bourses fall despite Cityscape Global event
By: Enas Bahgat Mubasher: The real estate stocks listed on both the Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX) decreased in line with the launch of Cityscape Global 2018, the international property exhibition. This …
Al Akaria, Alinma Investment team up to launch real estate fund
1 October 2018 03:53 PM Al Akaria, Alinma Investment team up to launch real estate fund
Riyadh – Mubasher: Saudi Real Estate Company (SRECO), known as Al Akaria, has signed a contract with and Alinma Investment Company (AIC) to launch a real estate fund for the Alinma Alakaria. Under the deal, the two companies will develop three …
Trading on Munshaat in Boursa Kuwait is still suspended
25 September 2018 02:20 PM Kuwait’s Munshaat to settle SAR 1.9bn tax claim by Saudi Zakat
Mubasher: Munshaat Real Estate Projects announced that its board members have recommended to the ordinary general meeting (OGM) settling a claim by Saudi Arabia’s General Authority of Zakat and Tax (GAZT). Saudi GAZT has claimed SAR 1.9 billion …
Jabal Omar Grand Aston will be Archipelago’s first investment in the kingdom
25 September 2018 10:01 AM Jabal Omar’s unit, Indonesian Archipelago International ink franchise agreement
Riyadh – Mubasher: Warfaat Hospitality Ltd, the subsidiary of Jabal Omar Development, has signed a long-term franchise agreement with Indonesia-based Archipelago International to start joint investment in Saudi Arabia. Under the contract, …
The deal’s financial impact cannot be currently specified.
17 September 2018 04:04 PM Red Sea International’s unit, RSS ink business alliance deal
Riyadh – Mubasher: Saudi Arabia-based Red Sea International Co. on Monday said that its wholly-owned subsidiary Red Sea Housing Services Company in Jebel Ali Free Zone (JAFZA) signed an alliance agreement with Rental Solutions and Services Company …
The project’s infrastructure designs had been finished and delivered to the contractor
16 September 2018 02:28 PM Al Wedyan project’s investment to hit SAR 38m upon completion – CEO
Riyadh – Mubasher: Saudi Real Estate (Al Akaria) has said that Al Wedyan project’s value will stand at SAR 37.5 million ($10 billion) after completion, CEO Mamdouh Saud Al Sharhan stated. The project’s infrastructure designs had been finished and …
Al Akaria owns a 60% stake in Binya.
16 September 2018 10:03 AM Al Akaria’s unit inks SAR 1.1bn deal
Riyadh – Mubasher: Saudi Real Estate (Al Akaria) said that its 100% subsidiary, Al Wedyan Saudi Real Estate, signed a SAR 1.1 billion contract with Saudi Real Estate for Infrastructure Co. (Binya) to implement the infrastructure of Al Wedyan …