Saudi developer Ajdan inks villa development agreement with ROSHN
Saudi Arabia-based Ajdan, the developer behind the Ajdan Waterfront in the Kingdom’s Eastern Province, has signed an agreement with the Public Investment Fund-backed giga-project developer ROSHN to sub-develop over 270 villas within SEDRA mixed-used community in Northeast Riyadh. The agreement covers the development of a total of 80,754 square metres of land within Sedra’s prime […]
Saudi’s Rua Al Madinah Holding signs agreements for hotels, support offices in Madinah
Rua Al Madinah Holding, a wholly owned unit of Saudi’s Public Investment Fund (PIF), and developer of Rua Al Madinah project in Madinah, announced on Tuesday that it has signed five major agreements on the side lines of Medina Expo (Medex 2022). The new agreements encompass the design of several hotels and the Islamic Civilization […]
Saudi: SASCO to pay $7.97mln dividends for Q3-22
The board of Saudi Automotive Services Company (SASCO) decided to distribute cash dividends worth SAR 30 million, representing 5% of the capital, for the third quarter (Q3) of 2022. SASCO will disburse SAR 0.50 per share for 60 million eligible shares, according to a bourse disclosure. Meanwhile, the eligibility date for the cash dividends […]
Saudi: CMA nods to public offering of 2 Saudi funds
The Capital Market Authority (CMA) approved the public offerings of the GIB MENA ESG Equity Fund and Albilad Sukuk Fund by GIB Capital Company and Albilad Investment Company (Albilad Capital), respectively. The two approvals were issued on 18 December 2022, according to a bourse filing. Founded in April 2008, GIB Capital is a wholly-owned subsidiary […]
Saudi: Tibbiyah’s unit pens over $19.8mln deal with NUPCO
International Medical Supplies Company (Premma Health), a subsidiary of Arabian International Healthcare Holding Company (Tibbiyah), inked a SAR 74.67 million contract with National United Procurement Company (NUPCO). Under the 915-day agreement, Premma Health will provide government institutes with the medical consumables that are required for orthopedics and spine, according to a bourse filing. The awarding […]
OPEC Fund approves over $500mln in new global development support
Setting a new record, the OPEC Fund for International Development (OFID) has approved more than US$500 million in new financing at the most recent meeting of its Governing Board and in the final quarter of 2022. The 15 new projects approved reflect the OPEC Fund’s launch of a US$1 billion Food Security Action Plan and […]
EFG Hermes completes listing of Saudi’s RCGC’s $378mln IPO
EFG Hermes, a leading investment bank franchise, has concluded advisory on the SR1.4 billion ($378 million) IPO of Saudi power cables manufacturer Riyadh Cables Group Company (RCGC) on the Saudi Exchange. This is yet another landmark deal in the kingdom that marks the 10th IPO the EFG has advised on during 2022. EFG Hermes also […]