Saturday 2 December 2023

Saudi Real Estate Refinance completes $932m sukuk issuance

The Saudi Real Estate Refinance Company (SRC), a wholly owned unit of Saudi sovereign wealth fund PIF (Public Investment Fund), has successfully completed its latest sukuk issuance of SAR3.5 billion ($932 million).    Marking the final two tranches under it


Retal awards contract to build 352 homes in Jeddah

Saudi-based Retal Urban Development Company has signed an agreement with its key subsidiary Building Construction Company (BCC), for the development of 352 residential units in the Sadayem Suburb of Jeddah.   The project, which will come up over a 100,


Summit puts spotlight on cement overcapacity; net-zero transition

Leading global leaders and specialists from the cement industry were in Dubai recently for the annual World Cement Association’s conference where they discussed the sector’s most pressing issues including the widespread overcapacity and the transition to a net-zero carbon future.


Shurooq sees Kalba Beach project handover in 2025

Sharjah Investment and Development Authority (Shurooq) said steady progress was being made on its tourism and hospitality developments including the Kalba Beach, Kingfisher Retreat and Nomad projects undertaken by the Authority in Kalba region.   Eac


Starz launches new real estate fund with Mubadala backing

Starz Real Estate (Starz), a leading pan-European commercial real estate lending platform, has launched its latest venture, Starz Orion Capital, a special situations fund, with Mubadala, a prominent Abu Dhabi sovereign wealth fund, as its anchor investor.   


MHI renews Dubai Airport APM system maintenance contract

Mitsubishi Heavy Industries (MHI) said it has entered into a deal with Dubai Airports for the renewal of its operation and maintenance (O&M) services contract for the Automated People Mover (APM) system at Dubai International (DXB) Terminal 3 for another five years.  


Masdar, Emirates Steel Arkan to develop 'green steel'

Abu Dhabi Future Energy Company (Masdar), one of the world’s leading renewable energy companies, has partnered with Emirates Steel Arkan, one of the largest publicly traded steel and building materials manufacturers in the region, to develop an innovative green hydrogen project to decar


Khaleeji seals finance deal with Naseej on key Bahrain projects

Khaleeji Bank, one of the leading Islamic banks in Bahrain, has sealed a partnership deal with Naseej, a leading Bahraini real estate developer, to provide exclusive financing offers to buyers interested in purchasing property in Naseej's key projects in the kingdom.  


Retal, NHC in deal to build over 1,100 residences in KSA

Saudi-based Retal Urban Development Company has reached an agreement with the National Housing Company (NHC) to jointly develop more than 1,100 residential units in the prime cities of Riyadh and Jeddah at a total investment of SAR925 million ($246.4 million).  


Saudi Arabia launches prime waterfront development in Jeddah

Saudi Arabia has announced the launch of its prime waterfront development, Jeddah South Obhur, which will come up on a 205,000-sq-m area within the port city of Jeddah.   Spread over a 205,000 sq m area within the port city, the Jeddah South Obhur will boast key

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