Business & Money | Sunday 21 September, 2025 10:31 am

solutions signs SAR 500M credit facility deal with SAB

Arabian Internet and Communications Services Co. (solutions) signed a Shariah-compliant credit facility agreement with Saudi Awwal Bank (SAB) for SAR 500 million, according to a statement to Tadawul. The telecom operator obtained the financing on Sept. 18, with a one-year tenor. The...

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Business & Money | Sunday 21 September, 2025 10:09 am

No idle land in portfolio: Alandalus

Alandalus Property Co. said none of its owned lands in Riyadh fall under the scope of the White Land Tax.   In a statement to Tadawul, the company added that this disclosure has no financial impact on the company. ...

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Business & Money | Sunday 21 September, 2025 10:07 am

Retal says no significant impact of White Land Tax on financials

Retal Urban Development Co. noted that no owned lands within the company’s portfolio in Riyadh fall under the scope of the White Land Tax.This disclosure has no financial impact on the company, it added in a statement to Tadawul. ...

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Business & Money | Sunday 21 September, 2025 10:04 am

Details of Real Estate Expropriation for Public Benefit Law

The Official Gazette published the Law of Expropriation of Real Estate for Public Benefit and Temporary Taking of Property, recently approved by the Saudi Cabinet.   The law consists of 39 articles and will come into effect 120 days after its publication in the Official...

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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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