Saudi Binladin Group (SBG) has begun marketing a 364-day sukuk issue to local investors in the kingdom which could raise up to SR1 billion ($265 million) for the construction firm, sources aware of the matter said on Thursday.
Dubai-based real estate developer Damac Properties has awarded the main construction contract in its Riyadh project Damac Esclusiva Luxury Serviced Apartments to Haramain Gate for Construction, a subsidiary of Binladin group.
The investment banking arm of Malayan Banking and Bahrain's Gulf International Bank have arranged an 8.5 billion Saudi riyal ($2.27 billion) Islamic financing facility for Saudi Binladin Group Limited, the Malaysian bank said on Thursday.
Construction Products Holding Company (CPC), Saudi Arabia's largest manufacturer of building materials and a unit of Binladin Group, has mandated two banks to manage its initial public offering, sources said on Wednesday.
Saudi industrial conglomerate Binladin Group has won two contracts worth 27 billion riyal ($7.2 billion) to revamp King Abdulaziz International Airport in the Red Sea port city of Jeddah, the state news agency reported.
The contracts were
Saudi property developer Emaar Economic City said on Monday it has cancelled a 1.4 billion riyals ($373.3 million) contract which it awarded to Saudi Binladin Group (SBG) due to a drop in costs.
The firm, spearheading the development of Ki
Saudi investors have asked Tanzania if they can lease 500,000 hectares of farmland mainly for rice and wheat farming as part of a plan to secure food supplies for the desert kingdom, officials said.
Senior officials from the Saudi capital&
Saudi Arabia's Binladin Group is raising a $500 million Islamic loan to fund a $6 billion real estate project, a report said.
Binladin group is developing the Abraj Al-Bayt project near the Grand Mosque in Makkah.
Real estate firm Middle East Development is securing massive tracts of land in Yemen, Djibouti and Syria to build whole cities from scratch.
The Dubai-based privately held group, controlled by a key member of Saudi Arabia's Binladin family