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MEDIA-
Tadawul-listed Jarir Marketing has opened its latest showroom in Doha Mall, marking its fourth location in the country and its 73rd overall, it said in a filing to Tadawul. Jarir invested SAR 27 mn to launch the new 3.3k sqm space, which marks the second showroom Jarir launched this 2024.
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CONSTRUCTION-
Red Sea Int’l subsidiary lands SAR 1.5 bn infrastructure contract: Red Sea International subsidiary, the Fundamental Installation for Electric Work, secured a SAR 1.52 bn contract with Modern Building Leaders to deliver mechanical, electrical, plumbing, and infrastructure works for one of its projects, according to its disclosure to Tadawul. The project spans 19 months, with financial impact expected from 3Q 2024.
MANUFACTURING-
The Industry and Mineral Resources Ministry is looking to set up factories at technical universities and colleges, under the newly-launched Rafed program, state news agency SPA reported. These include a drone factory at Princess Nourah bint Abdulrahman University and a drone system manufacturing facility at Qassim University, as well as a medical products factory at King Abdulaziz University. A food manufacturing facility is coming to Umm Al Qura University, alongside a 1.5 mn sqm land plot allocated for its Hajj related industries — while King Faisal University received a 1.4 mn sqm industrial land plot for food and environmental industries.
DIGITIZATION-
Construction on the 187 MW Desert Dragon Data Centers has begun, according to the Saudi Gazette. The data centers are owned by a JV between ICS Arabia and Shanghai-based Lumaotong Group with China Mobile International. The data centers’ first phase is set to be operational in March 2026, while the second phase will break ground in February 2025 and be operational in 4Q 2026. The final phase will start its build-out in September of next year.
INFRASTRUCTURE-
Buraidah City is getting a new SAR 277.8 mn extension to the King Abdullah Road, after Municipalities and Housing Minister Abdullah Al Hogail signed off on the project for the city in the Qassim Municipality, state news agency SPA reported.
