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REAL ESTATE-
Real estate accounted for 12.2% of Saudi Arabia’s non-oil GDP in 9M 2023, with the sector employing some 26k individuals in 2023, up 116% y-o-y, Municipal, Rural Affairs and Housing Minister Majid bin Abdullah Al Hogail said at the Real Estate Future Forum yesterday, according to state news agency SPA (here and here). Construction contributed 11.3% of non-oil GDP during the first nine months of the year, according to Al Hogail. Real estate funds currently have a collective SAR 170 bn of assets under management, Capital Markets Authority Chairman Mohammed El Kuwaiz also said at the forum, Arab News reports.
HOSPITALITY-
Abdul Mohsen Al Hokair Group has landed a SAR 760 mn contract from Alpha Facilities Contracting to provide catering services at an unnamed residential complex in NEOM, it said in a Tadawul regulatory filing. There is no publicly available information about the duration of the contract.
DEBT-
Saudi Real Estate (Al Akaraia) has renewed and extended a SAR 200 mnshariah-compliant debt facility with Saudi Awwal Bank, it said in a disclosure to Tadawul. The facility runs for a period of 360 days, with proceeds earmarked for financing letters of credit for the real estate player and supporting its working capital.
CONSTRUCTION-
Belt Industrial partners with Kidana to build a restroom tower in Mina: Belt Industrial — a subsidiary of Ladun Investment — has inked a SAR 81 mn project with Kidana Development — a subsidiary of Makkah Province Development Authority — to build a 16-floor public restroom at the Jamarat facility in Mina, the parent company said in a disclosure to Tadawul yesterday.
TECHNOLOGY-
Al Moammar Information Systems (MIS) has landed a SAR 72 mn contract to install an advanced data analysis system at the National Center for Government Resources Systems, it said in a disclosure to Tadawul.
ENVIRONMENTAL ENGINEERING-
AWPT to establish a new LLC for Riyadh sewage plants: Alkhorayef Water and Power Technologies (AWPT) is setting up a limited liability company for the rehabilitation, operation, and maintenance of sewage treatment plants in Riyadh’s Heet and Al Hayer, it said in a disclosure to Tadawul yesterday. The Package 6 Company for Environmental Services — which will be fully owned by AWPT— will have SAR 100k in capital.
