Tag: SaudiArabiaFeatured

  • Farm Superstores renews SAR 105.5m credit facility

    Farm Superstores renews SAR 105.5m credit facility

    Saudi Marketing Company (Farm Superstores) has renewed a SAR 105.5 million credit facility agreement with the National Commercial Bank (NCB). The credit facility started on 3 September 2019 and will end on 31 March 2020, Farm Superstores said in a bourse statement released on Tuesday. The loan will finance capital requirements and plans to open […]

  • Aramco acquires Shell’s stake in Saudi refining JV for $631m

    Aramco acquires Shell’s stake in Saudi refining JV for $631m

    The Saudi oil giant Aramco has completed the acquisition of Shell’s 50% stake in their Saudi Aramco Shell Refinery Co (SASREF), affiliated to Shell Saudi Arabia Limited, situated in Jubail Industrial City. The deal was concluded at a total value of $631 million, according to a press release on Wednesday. The said purchase is part […]

  • SDB to offer $133.3m finance for Saudi health projects

    SDB to offer $133.3m finance for Saudi health projects

    Social Development Bank (SDB) has signed an agreement with Saudi Arabia’s Ministry of Health to launch 300 startups in the medical sector, with a funding portfolio of over SAR 500 million ($133.3 million) for the next five years, Saudi Press Agency (SPA) reported on Thursday. Under the agreement, SDB will provide a package of finance […]

  • Nesma and Partners to execute first phase of Avenues Riyadh – Mabanee

    Nesma and Partners to execute first phase of Avenues Riyadh – Mabanee

    Mabanee Co. announced that the design and construction works of phase one of Avenues Riyadh will be awarded to Nesma and Partners Contracting Co at a value of SAR 6.15 billion. The deal was facilitated through Shomoul Holding Company, a subsidiary of Mabanee through Shomoul Commercial Mall, Mabanee disclosed to Boursa Kuwait on Wednesday. The […]

  • Aleph Hospitality to manage new Marriott’s Portea Hotels in Kenya

    Aleph Hospitality to manage new Marriott’s Portea Hotels in Kenya

    Dubai-based Aleph Hospitality entered into a franchise deal for Marriott’s new Protea Hotel in Kenya, according to the hospitality management company’s statement on Tuesday. Under the agreement, Aleph will manage Bluewater Hotels’ newly-established property under the global hotelier’s Protea Hotels brand. “As the hotel owner, we benefit from the reputation and distribution of a major […]

  • Bupa names new chairman, vice chairman

    Bupa names new chairman, vice chairman

    The board of directors of Bupa Arabia for Cooperative Insurance Company has approved the appointment of Loay Hisham Mohy El Din Nazer as the company’s chairman. Moreover, David Martin FIetcher was hired as the vice-chairman of the Saudi insurance company, according to a filing to the Saudi Stock Exchange (Tadawul) on Sunday. It is worth […]

  • Aramco considering Tokyo for IPO listing: report

    Aramco considering Tokyo for IPO listing: report

    Saudi Aramco,  the world’s largest oil firm, is considering Tokyo as the international destination to list its shares, The Wall Street Journal reported. The sate oil giant is considering an IPO in two stages: A flotation on the Saudi stock exchange later this year, and an international listing in 2020 or 2021, the Journal said, […]

  • Saudi online grocery platform NANA raises $6.6m investment from Impact46

    Saudi online grocery platform NANA raises $6.6m investment from Impact46

    The UAE-based Middle East Venture Partners (MEVP) and Impact46 have co-led an investment worth $6.6 million in Saudi-based Nana Direct, an online grocery platform serving 13 cities across the Kingdom. The deal marks the debut investment for the partnership between MEVP and Impact46. Other investors include Watar Partners, Saudi Venture Capital (SVC) Company, Wamda Capital […]

  • Saudi Arabia launches water projects worth $825m

    Saudi Arabia launches water projects worth $825m

    Saudi Arabia has launched a number of water developments worth over SR3.1 billion ($825 million) in Makkah and other holy sites coinciding with the Hajj season for this year, media reports said. These projects include setting up a pipeline for carrying desalinated water from the desalination plant in Al Shuaibah to Makkah and the holy […]

  • Red Sea unit inks SAR 56m contract with Expo 2020

    Red Sea unit inks SAR 56m contract with Expo 2020

    Red Sea Housing Services Company Dubai, which is fully owned by Red Sea International Company, has signed a contract with Expo 2020 in Dubai. The agreement’s total value amounted to SAR 56 million, according to a filing to the Saudi Stock Exchange (Tadawul) on Monday. Under the 20-month deal, Red Sea Housing Services will supply Expo […]