Business & Money | Sunday 21 September, 2025 10:01 am

Masar sells two land plots for SAR 275M, books SAR 129.3M capital gain

Umm Al Qura for Development and Construction Co. (Masar) signed on Sept. 18 an agreement to sell two land plots within the Masar Destination project for a total of SAR 275 million, excluding taxes and fees borne by the buyer. The deals were signed by Masar and its wholly owned subsidiaries,...

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Business & Money | Saturday 20 September, 2025 5:25 am

RAK Ruler inaugurates Hilton office at RAKEZ Business Centre

His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, inaugurated Hilton’s new  office at Ras Al Khaimah Economic Zone (RAKEZ) Business Centre 1 in Al Nakheel. The ceremony was attended by RAKEZ Managing Director, Sheikh Mohammed bin Humaid Al...

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Business & Money | Saturday 20 September, 2025 5:22 am

UAE Leading $18B Middle East Space Market Growth, BCG Report

The Middle East and Africa (MEA) space market is valued at USD 18 billion, according to a new report from Boston Consulting Group (BCG) titled "Governments in Space: A universe of opportunities". The UAE, Saudi Arabia, and Qatar represent the core of the region’s civil space investments - each...

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Business & Money | Saturday 20 September, 2025 5:03 am

Dubai Tenants Shift from Renting to Buying as August Property Transactions Hit AED 42.4B

Engel & Völkers Middle East, a leader in premium residential and commercial real estate services, has reported a decisive shift in the city’s residential property market, as more tenants are choosing to purchase homes rather than remain in the rental cycle. The trend is underscored by a 22%...

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Business & Money | Saturday 20 September, 2025 4:45 am

Mulkia REIT board approves sale of some portfolio properties

Mulkia Gulf Real Estate REIT Fund’s (Mulkia REIT) board approved permitting fund manager and operator Mulkia Investment to take the necessary measures to sell one or more of the former’s portfolio properties that could generate capital gains upon disposal.   In a statement...

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Business & Money | Saturday 20 September, 2025 4:44 am

NHC seeks to expand investment portfolio beyond SAR 200B: CEO

Saudi Arabia’s National Housing Co. (NHC) is expanding its investment portfolio to over SAR 200 billion, CEO Mohammad Albuty told Al-Eqtisadiah.   NHC’s investments in Jeddah stand at SAR 52 billion, with the city set to host about 60,000 housing units. The company aims to...

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Business & Money | Saturday 20 September, 2025 4:31 am

Dar Al Arkan holds 2.83M sqm of taxable idle land

Dar Al Arkan Real Estate Development Co. disclosed that 2.83 million square meters (sqm) of its land portfolio falls under the scope of the newly-introduced idle land fee system, based on a preliminary assessment of properties within the designated geographical zones. In a Tadawul statement...

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Business & Money | Saturday 20 September, 2025 4:31 am

Axelerated Solutions inks 2 governmental contracts worth SAR 66.3M

Axelerated Solutions for Information and Communication Technology Co. announced today, Sept. 18, the signing of a contract with the Saudi Data and AI Authority (SDAIA) at a value of SAR 42.67 million (including VAT) for the project of network device and video communication unit...

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Business & Money | Saturday 20 September, 2025 4:27 am

SEC signs MoU with India’s NTPC to establish power plant services company

Saudi Electricity Co. (SEC) signed today, Sept. 18, a strategic memorandum of understanding (MoU) with India’s NTPC at the Ministry of Energy headquarters in Riyadh.  The move aims to expand cooperation and exchange technical expertise between the two companies in the power...

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Business & Money | Saturday 20 September, 2025 4:20 am

Industry Ministry allocates 6 sites for mining activities

Ministry of Industry and Mineral Resources has allocated six sites to establish mining clusters in various regions across Riyadh, Aseer, and Eastern Province. The move aims to develop the Kingdom’s mining investment environment and enhance its transparency and appeal to investors, according...

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