SEC, Acwa Power, Kepco sign $4bn Saudi power purchase deal
Saudi Electricity Company (SEC), Acwa Power, and Korea Electric Power Corporation (Kepco) have announced the signing of a Power Purchase Agreement with Saudi Power Procurement Company (SPPC) for two transformative power generation projects: Rumah 1 and Nairyah 1. With a combined capacity of 3.6 GW, these Independent Power Plant (IPP) projects represent a significant advancement […]
Saudi Arabia raises $910m in November sukuk offering
Saudi Arabia’s National Debt Management Center has completed its riyal-denominated sukuk issuance for November, raising SR3.41 billion ($910 million), a 28.19 percent year-on-year increase. In October, the Kingdom issued sukuk worth SR7.83 billion, while the figures for September and August were SR2.6 billion and SR6.01 billion, respectively. Sukuk, also known as Islamic bonds, are Shariah-compliant […]
Saudi Arabia, China, Iran meet to advance Beijing Agreement
The second meeting of the Saudi-Chinese-Iranian Joint Tripartite Committee to follow up on the Beijing Agreement was held in Riyadh on Tuesday, the Saudi Press Agency reported. Saudi Deputy Foreign Minister Waleed bin Abdulkarim Elkhereiji chaired the meeting, with Vice Foreign Minister of China Deng Li and Iran’s Deputy Foreign Minister for Political Affairs Majid […]
Saudi Arabia’s National Housing Co. launches 11 residential projects in Riyadh’s Khuzam area
Saudi Arabia’s National Housing Co. has launched 11 projects in Riyadh’s Khuzam area, offering over 10,000 units to meet growing demand for quality housing in the Kingdom. These developments, including modern designs, are part of NHC’s strategic push to diversify housing supply and address the varied needs of Saudi families. The projects range from luxurious […]
Saudi Arabia foreign minister urges a balanced energy transition at G20 Summit session
Saudi Arabia’s foreign minister highlighted the importance of a balanced, inclusive approach to energy transition while ensuring global energy security and sustainable development at a Group of 20 session on Tuesday, Saudi Press Agency reported. Prince Faisal was leading the Kingdom’s delegation during a session titled “Sustainable Development and Energy Transition,” SPA added. Energy security […]
Seef Properties enters into partnership with Majd Investment
Seef Properties, the largest integrated developer of retail and entertainment destinations in the Kingdom of Bahrain, has formed a strategic partnership with Saudi-based investment company, Majd Investment Company to work on a mixed-use project in Dammam. The project, valued at around $132 million (BD50 million), marks Seef Properties’ inaugural venture in Saudi Arabia. The announcement […]
Saudi TDF to build $372m multi-use resort in Eastern Region
Saudi Arabia’s Tourism Development Fund (TDF) has announced plans to develop a multi-use resort on Half Moon Beach in the kingdom’s Eastern Province at an investment of SAR1.4 billion ($372 million). Spanning over a 262,000-sq-m area, the project will be operated under the Rixos brand and fully managed by global hospitality leader Accor. On completion, […]
Seef Properties enters into partnership with Majd Investment
Seef Properties, the largest integrated developer of retail and entertainment destinations in the Kingdom of Bahrain, has formed a strategic partnership with Saudi-based investment company, Majd Investment Company to work on a mixed-use project in Dammam. The project, valued at around $132 million (BD50 million), marks Seef Properties’ inaugural venture in Saudi Arabia. The announcement […]
Saudi TDF to build $372m multi-use resort in Eastern Region
Saudi Arabia’s Tourism Development Fund (TDF) has announced plans to develop a multi-use resort on Half Moon Beach in the kingdom’s Eastern Province at an investment of SAR1.4 billion ($372 million). Spanning over a 262,000-sq-m area, the project will be operated under the Rixos brand and fully managed by global hospitality leader Accor. On completion, […]
Cityscape Global 2024 closes with record turnout, nets $61bn deals
Cityscape Global, the world’s largest real estate exhibition, ended on a successful note at the Riyadh Exhibition and Convention Center in the Saudi capital attracting more than 172,000 visitors and hosting over 400 exhibitors during the four-day event. Held under the theme ‘The Future of Living,’ it was organised by Tahaluf, a joint venture of […]