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15 November 05:37 PM

Real Estate

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 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 …
Sector Reports
Net profits amounted to SAR 12.67 million in Q3-18
11 November 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 …
Real estate
Emaar The Economic City suffers losses in Q3, 9M
8 November 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 …
Financial Results
Red Sea International incurs SAR 39m in 9M
8 November 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 …
Real estate
Bin Talal’s KBW Investments mulls IPO, eyes UAE, Saudi project launches
8 November 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 …
Companies Investments
The 15-year loan will be guaranteed through a promissory note
7 November 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 …
Banking and Finance
Dar Alarkan Real Estate Q3 profit drops 82%
5 November 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 …
Real estate
The transaction was financed through sharia-compliant loans
1 November 12:42 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 …
Companies Investments
The transaction will be financed through banking facilities
1 November 12:16 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 …
Companies Investments
Taiba Holding ascribed the third-quarter profit decrease to a decline in dividends from long-term investments
31 October 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 …
Financial Results
The exhibition saw more than 500 exhibitors from 31 countries
30 October 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 …
Event
The 5,200 developments make up 35% of the value of the GCC’s active projects.
28 October 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 …
Real estate
Jabal Omar reported a net profit of SAR 469.62 million ($125.15 million) in Q3-18
23 October 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 …
Financial Results
Edge Holding to invest EGP 20bn in New Administrative Capital, New Alamein
21 October 01:08 PM Edge Holding to invest EGP 20bn in 4 years across New Administrative Capital, New Alamein
By: Abdullah Bedeir Cairo – Mubasher: Edge Holding for Urban Development has unveiled plans to invest around EGP 20 billion ($1.116 billion) in projects across the New Administrative Capital and Al Alamein City, a top official has said. The …
Companies Investments
Only 20% of some of the idled projects were finished
14 October 06:11 PM Disputes delay construction of 510 schools in Saudi Arabia
Riyadh – Mubasher: Disputes between the Saudi Ministry of Education and the contractors have delayed the construction projects of 510 schools at combined investments of SAR 3 billion ($800 million), according to local media reports. Only 20% of …
Real estate
The project is set for delivery by 2020 and expected to see EGP 750 million in investments
8 October 04:03 PM Real Mark injects EGP 750m in West Mark
Cairo – Mubasher: Real Mark Developments on Monday made its debut in the Egyptian market, unveiling its mixed-use complex West Mark in 6th of October City. Spanning 13,700 square feet of land and 27,000 square metres of a built-up area within the …
Companies Investments
The real estate market in the UAE will need time to regain its balance
7 October 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 …
Real estate
Al Akaria, Alinma Investment team up to launch real estate fund
1 October 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 …
Real estate
Trading on Munshaat in Boursa Kuwait is still suspended
25 September 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 …
Taxes
Jabal Omar Grand Aston will be Archipelago’s first investment in the kingdom
25 September 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, …
Real estate
The deal’s financial impact cannot be currently specified.
17 September 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 …
Companies Investments
The project’s infrastructure designs had been finished and delivered to the contractor
16 September 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 …
Real estate
Al Akaria owns a 60% stake in Binya.
16 September 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 …
Companies Investments
Jabal Omar’s net losses amounted to SAR 148.02 million in Q2-18
9 August 04:49 PM Jabal Omar’s losses rise 144% in Q2
Riyadh – Mubasher: Saudi Arabia-based Jabal Omar Development on Thursday posted a 143.5% year-on-year increase in net losses for the second quarter of 2018. Jabal Omar’s net losses amounted to SAR 148.02 million ($39.46 million) during Q2-18, up …
Real estate
Red Sea International suffered SAR 10 million losses in Q2
8 August 05:09 PM Red Sea International posts SAR 10m losses in Q2
Riyadh – Mubasher: Red Sea International Co. on Wednesday reported losses for the second quarter and first half of 2018 due to lower revenues. The company suffered SAR 9.8 million ($2.61 million) in losses between April and June, up 75% from SAR …
Real estate