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PUBLIC INVESTMENT FUND-
#1- PIF’s Dan Company set to launch high-end resort in Al Ahsa: PIF’s hospitality arm Dan partnered with Abdulmohsen Al Tamimi Contracting Company to develop Tuaja Luxury Resorts, a 1.8 mn sqm resort in Al Ahsa, according to a press release. The resort will include 201 units, with plans to secure Leadership in Energy and Environmental Design (LEED) certification. Details on the timeline and investment size were not disclosed.
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#2- PIF-backed developer Diriyah Company tapped Golf Saudi to operate the Wadi Safar Signature Golf Course and the Royal Golf Club, located in Diriyah city on the outskirts of Riyadh, according to a statement from Golf Saudi. No further information was disclosed.
PHARMA-
Zeta Pharma eyes Saudi expansion: Egypt-based Zeta Pharma is looking to complete its SAR 200 mn factory in Saudi Arabia — dubbed Zeta Gulf — within 1.5 years, Al Borsa quotes Commercial Director Mohsen Hassan as saying. The factory is being set up in the Sudair Industrial City and will target the Saudi market and other neighboring Gulf markets.
MANUFACTURING-
US chemical producer LyondellBasell (LYB) opened its regional office in the Kingdom at the Muqarnas Tower in King Abdullah Financial District, according to an emailed statement (pdf).
ICYMI- Earlier in June, LYB’s subsidiary Bassel International Holdings acquired a 35% stake in National Petrochemical Industrial Company, a subsidiary of Alujain, for SAR 1.9 bn (USD 500 mn).
