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EDUCATION-
King Fahd University of Petroleum and Minerals maintained its top spot at the 2025 QS World University Rankings for the Arab region, according to a press release (pdf). Meanwhile, King Saud University came in third place, right after Qatar University, and down one spot from 2024. The Kingdom was the second-most represented country, with 34 universities featured in the rankings.
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MANUFACTURING-
Almarai added two cheese production lines with investments worth EGP 1 bn (SAR 77.2 mn) to its Beyti factories in Egypt, according to a press release.
REAL ESTATE-
#1- The Public Investment Fund (PIF) launched a real estate development and managing firm, Smart Accommodation for Residential Complexes Company, in a bid to address the housing needs of staff working in major construction and development projects nationwide, according to a press release. This includes public and private sector staff. No further information was provided.
#2- First Avenue signs off on major Riyadh office project: Alidara Real Estate tapped First Avenue Real Estate Development to finalize a 34k sqm office complex in Riyadh under a SAR 75 mn contract, First Avenue said in a filing to Tadawul. The project is expected to wrap up within 20 months.
DEBT WATCH-
#1- MBC Group repaid a SAR 497.3 mn outstanding loan it had received from Istedamah Holding using available liquidity, it said in a disclosure to Tadawul. The loan agreement dates back to October 2022. No further information was provided.
#2- Arabian Plastic Industrial Company refinanced credit lines worth a combined SAR 102.5 mn from the Saudi Investment Bank (Saib), according to a disclosure to Tadawul. The funding will be allocated to support the expansion of a production facility in Al Kharj, obtain letters of credit to purchase raw materials, and fulfill the company’s working capital needs.
TECH-
Solutions, Jedco launch a tech JV: Solutions by stc and Jeddah Development and Urban Regeneration Company (Jedco) launched a SAR 3 mn tech consultancy JV dubbed Amana Tech, according to a disclosure to Tadawul. The JV will work to “execute and operate technical and digital solutions to the projects managed by Jedco and its subsidiaries.” The new company is 70% owned by Solutions, and 30% by Jedco.
LOGISTICS-
IAG Cargo restores London-Jeddah route for the first time since covid: UK freight carrier IAG Cargo is resuming its flight route between London Heathrow and King Abdulaziz Airport in Jeddah for the first time since the covid-19 pandemic starting on 2 November, according to a press release. The Boeing 787 widebody aircraft will be flying between the two countries six times a week.
