Sign in
TOURISM-
Dubai-based Depa Interiors has landed AED 750 mn contracts in Saudi Arabia this year,with the lion’s share coming from the Public Investment Fund’s Red Sea Global (RSG), it said in a press release. Depa will handle fit-out works for some of RSG’s tourism destinations including Desert Rock Hotel, two other five-star hotels, and Amaala Yacht Club.
MANUFACTURING-
East Pipes Integrated Company for Industry will supply steel pipes for the Saline Water Conversion Corporation under a SAR 1 bn contract, it said in a disclosure to Tadawul yesterday.
TELECOM-
Arabian Internet and Communications Services (Solutions) has landed a SAR 191 mn, three-year contract to renew Microsoft technology licenses for Saudi Telecom (STC), according to a disclosure to Tadawul. STC owns a 79% stake in Solutions.
DEBT-
#1- Keir secures credit facility from Alrajhi Bank: Telecom company Keir International signed a SAR 130 mn shariah compliant banking facility agreement with Alrajhi bank, it said in a disclosure to Tadawul yesterday. The one-year loan will be used for project financing and the issuance of bank guarantees and letters of credits.
#2- APICO seals loan from SIDF: The Arabian Plastic Industrial Company (APICO) has signed a SAR 23 mn credit facility from the Saudi Industrial Development Fund (SIDF), it said in a disclosure to Tadawul yesterday.
ECONOMY-
The Kingdom and the OECD signed an agreement to boost public policy collaboration across economy, taxation, corporate governance and sustainability, Saudi Gazette reported yesterday.
REAL ESTATE
Makkah gets RER services: The Real Estate General Authority unrolled in cooperation with Makkah city officials the Real Estate Registry (RER) platform for the region, it said in a statement yesterday.The city is set to be divided into districts comprising several neighborhoods, with an announcement to be made soon in regards to the neighborhoods that will start registering properties on the new platform.
RER? The National Real Estate Registry Services Company (RER) — wholly owned by the PIF — aims to establish a real estate registry across the Kingdom to make it easier for individuals and corporations to know who has clear title to a property when buying or selling.
TECHNOLOGY-
SPARK set for new manufacturing facility: The King Salman Energy Park (Spark) signed an agreement with Schneider Electric to set up an advanced tech manufacturing facility, it said in a statement picked up by Zawya yesterday. The 20k m2 facility will produce high-tech systems that include Distributed Control Systems (DCS), Emergency Shutdown Systems (ESD) and Compressor Control Systems (CCS). Completion is expected to be completed by the end of 2025.
What’s Spark? Located in the oil-rich Eastern Province, Spark is being developed as an industrial ecosystem and energy hub aimed at boosting the kingdom’s energy value chain.
