Marriott announces two new properties in NEOM’s Trojena
Marriott International has signed an agreement with NEOM to open two luxury properties including Saudi Arabia’s first W Hotel and a JW Marriott hotel in Trojena. Trojena which is currently under construction is NEOM’s mountain destination located in the northwest of Saudi Arabia will be the host venue for the 2029 Asian Winter Games. “We […]
EFG Hermes concludes advisory on Lumi Rental’s $290m IPO
EFG Holding’s investment banking division , EFG Hermes, has completed advisory on the $290m initial public offering (IPO) of Saudi Arabia’s Lumi Rental Company. EFG Hermes acted as a joint bookrunner on the IPO. Lumi Rental’s public offering marks EFG Hermes’ fifth IPO this year and is the latest in a series of transactions the […]
Soudah Peaks: Saudi Crown Prince Mohammed bin Salman launches new luxury destination masterplan
In a bid to transform the picturesque mountainous region of Soudah into a luxury mountain tourism destination, Saudi Crown Prince Mohammed bin Salman has officially launched the ambitious project known as “Soudah Peaks.” This initiative will bring a touch of opulence to the pristine mountains, situated at an impressive elevation of 3,015 meters above sea […]
Saudi Crown Prince Mohammed bin Salman’s interview with Fox News: US, Israel, golf and more
Saudi Arabia’s Crown Prince Mohammed bin Salman, who is also the country’s Prime Minister sat down with US cable news network Fox News for a wide-ranging interview. The interview touched upon geopolitically charged issues such as its relations with Israel, the kingdom’s unilateral decision to cut crude oil supply, the LIV-PGA Tour merger shaking up […]
PIF-backed ADES Holding gets $76.5bn in orders for Riyadh IPO
Saudi Arabia’s ADES Holding Company (ADES) has attracted $76.5bn (SAR286.9bn) in orders for its $1.2bninitial public offering (IPO) on the Saudi Exchange, in what is set to be the country’s biggest listing of the year. ADES set the final offer price for the offering at SAR13.50 per share, implying a market capitalisation of SAR15.2bn at listing. According to oil and gas […]
Saudi Arabia-China Entrepreneurs Association & HKTDC MoU
Saudi Arabia-China Entrepreneurs Association (SCEA), a non-profit organization initiated by eWTP Arabia Capital, has signed a Memorandum of Understanding (MoU) with the Hong Kong Trade Development Council (HKTDC) to promote trade and business between Hong Kong and Saudi Arabia.The Saudi Arabia-Hong Kong MoU was signed during the eighth Belt and Road Summit 2023, which was […]
Saudi’s Modon signs several investment agreements
The Saudi Authority for Industrial Cities and Technology Zones (Modon) has signed several investment contracts worth more than $133 million in partnership with the public and private sectors during its participation in the “Cityscape Global” exhibition. Investment contracts included signing three contracts providing development, management, and supervision services in 13 industrial cities in cooperation with […]
Saudi Ministry signs MoU with Alfaisal University
Saudi Arabia’s Ministry of Economy and Planning has signed a memorandum of understanding (MoU) with Alfaisal University to promote economic development and implement awareness programs and initiatives to serve the community. This move is part of achieving Saudi Vision 2030 goals. The signing of the agreement took place at the university’s headquarters in Riyadh. The […]
Saudi Aramco to purchase 100% equity stake in Esmax
Saudi Aramco, one of the world’s leading integrated energy and chemicals companies, has agreed to purchase a 100 percent equity stake in Esmax from Southern Cross Group, a Latin America-focused private equity company. Esmax is a leading diversified downstream fuels and lubricants retailer in Chile. Its national presence includes retail fuel stations, airport operations, fuel […]
UNESCO’s World Heritage List set to include 50 new sites
The World Heritage Committee has added new sites to the United Nations Educational, Scientific and Cultural Organization (UNESCO) World Heritage List during its extended 45th Session, which is taking place in Riyadh from 10 September to the 25th. The newly added sites to World Heritage List encompass natural locations, including the Odzala-Kokoua Forest Massif in […]