Business & Money | Thursday 14 August, 2025 9:46 am

New idle land regulations come into effect

Saudi Arabia’s Ministry of Municipal and Rural Affairs and Housing approved and enacted the executive regulations for white land fees, setting the levy at up to 10% of the land’s value, in line with urban development priorities. The rules apply to all vacant land within approved urban...

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Business & Money | Wednesday 13 August, 2025 2:48 pm

Aramco, DHL seek investors to build logistics hub in Saudi Arabia: Report

Saudi Aramco and DHL are seeking to attract investors to finance and build a logistics distribution center in Saudi Arabia, Bloomberg reported, citing sources. The sources expect the project, which will be implemented as a build-to-order model where the facility is designed according to...

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Business & Money | Wednesday 13 August, 2025 2:46 pm

AOL signs SAR 128.7M training deal With Hadaf

Academy of Learning (AOL) signed today, Aug. 13, a SAR 128.73 million training support agreement, including VAT, with the Human Resources Development Fund (Hadaf) to implement training and qualification programs leading to employment. The company said in a Tadawul filing that the contract...

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Business & Money | Tuesday 12 August, 2025 9:33 am

Care says PSMMC contract generates SAR 120M in annual revenue

National Medical Care Co. (Care) said that the Prince Sultan Military Medical City (PSMMC) contract is established at a fixed rate that is calculated based on patient turnover and active footfall, rather than the number of beds occupied at a given time. The total capacity is 250 patients...

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Business & Money | Monday 11 August, 2025 10:31 am

MIS renews SAR 340.3M credit facilities with SAB

Al Moammar Information Systems Co. (MIS) renews, amends SAR 340.27 mln Shariah-compliant credit facility with Saudi Awwal Bank (SAB). The company said in a statement on Tadawul that the final agreement was signed on Aug. 10, 2025, and will run until Aug. 2, 2026. MIS issued a promissory note...

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Business & Money | Sunday 10 August, 2025 12:00 pm

ADNOC Distribution eyes 160 new Saudi stations in 2026: CEO

Badr Al Lamki, CEO of ADNOC Distribution, said the company plans to pursue its expansion in the Saudi market by launching 160 new stations in 2026, leveraging the agent-owned station model. In an interview with Asharq, Al Lamki said this model enabled the company to double its number of...

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Business & Money | Sunday 10 August, 2025 12:00 pm

Cenomi Centers: Westfield branches in Jeddah, Riyadh to raise 2026 EBITDA by SAR 650M

Alison Rehill Erguven, CEO of Arabian Centres Co. (Cenomi Centers), said the financial impact of the Westfield Jeddah and Riyadh projects is expected to boost EBITDA by 40%, or SAR 650 million. Through its partnership with Unibail-Rodamco-Westfield (URW), Cenomi Centers will develop six malls, ...

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Government | Saturday 9 August, 2025 4:33 pm

REGA adopts Classification of Violations, Penalties under Real Estate Contributions Law

The Real Estate General Authority (REGA) approved a classification table for violations and penalties under the Real Estate Contributions Law and its executive regulations.   According to Umm Al-Qura gazette, the table refers four violations to the Public...

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Business & Money | Saturday 9 August, 2025 3:10 pm

The Saudi Real Estate Refinance Company Signs a Portfolio Acquisition Agreement With Arab National Bank

The Saudi Real Estate Refinance Company (SRC), a PIF company, has signed a new agreement with Arab National Bank to acquire a real estate finance portfolio in the presence of His Excellency Majid bin Abdullah Al-Hogail, Minister of Municipalities and Housing and Chairman of the Board of the Saudi...

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Tourism & Hospitality | Saturday 9 August, 2025 2:36 pm

Riyadh Air signs global distribution agreement with Spain’s Amadeus

Riyadh Air, Saudi Arabia’s new national carrier and a Public Investment Fund (PIF) subsidiary, signed a global distribution agreement with Spain’s Amadeus. This strategic partnership will enable Riyadh Air to access one of the world’s largest networks of travel agents.   In a...

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