Chapman Taylor unveils design for Jeddah mixed-use project
Chapman Taylor, a key architect and masterplanner, has unveiled the design for Porta Jeddah, a mixed-use development coming up in the Saudi port city on a 150,000-sq-m gross building area. On completion, the project, which is being developed by Saudi developer Al Akaria, is set to become an iconic landmark for Jeddah, featuring a wide […]
First Mills posts higher profits in Q1-23 initial financials
First Milling Company (First Mills) logged net profits after Zakat and tax amounting to SAR 73.75 million in the first quarter (Q1) of 2023, up 1.80% from SAR 72.45 million in Q1-22. Revenues climbed by 5.44% to SAR 255.54 million as of 31 March 2023 from SAR 242.36 million a year earlier, according to […]
Banan Real Estate eyes listing on TASI
The board members of Banan Real Estate Company agreed, on 4 July, to transfer the company’s shares from the Parallel Market (Nomu) to the main market All Share Index (TASI). Banan Real Estate appointed AlDukheil Financial Group as a financial advisor for the proposed transition, according to a bourse disclosure. Meanwhile, the upgrading process is […]
Saudi and Kuwait claim gas field eyed by Iran
Saudi Arabia has said it enjoys “full rights” along with Kuwait to a disputed gas field in the resource-rich Gulf, pushing back against claims by Iran, state media reported late Tuesday. The field, known as Arash in Iran and Dorra in Kuwait and Saudi Arabia, falls under “joint ownership between the Kingdom of Saudi Arabia […]
China’s SUPCON bags automation contracts in Saudi and Kuwait
Shanghai-listed process automation company SUPCON announced on Tuesday that it has bagged three automation contracts in the Gulf region. The company said in a press statement that it has been awarded a Workforce & Assets Tracking Solution Project by International Maritime Industries (IMI), the largest full-service shipyard in the MENA region powered by Aramco, Bahri, […]
Saudi Arabia, Kuwait, exclusively own gas-rich maritime “divided area” – SPA
Saudi Arabia and Kuwait exclusively own natural wealth, including Durra gas field, in the Gulf’s maritime “Divided Area”, Saudi state news agency SPA said on Tuesday citing the foreign ministry. The Kingdom also renewed its call to Iran to start negotiations with Riyadh and Kuwait on the demarcation of the eastern border of the area, […]