Sign in
ADVERTISING-
#1- Tihama-WPP joint venture gets a delay: Tadawul-listed Tihama Advertising and Public Relations have extended a deadline to form a joint venture with British advertising and PR company WPP for an additional six months to obtain necessary regulatory approvals, it said in a disclosure to Tadawul. The new company — dubbed ICG Saudi Arabia — will see the extension run until 31 December, 2024 for “the completion of the transfer of legal ownership including finalization of required regulatory approvals.” An MoU on the joint venture was first signed in July 2021 and has been extended since.
#2- Taoq Public Relations — a subsidiary of Integrated media giant Saudi Research and Media Group (SRMG) — inked a three-year contract worth SAR 240 annually to provide media and marketing services to an unnamed advertising company, according to a disclosure to Tadawul. Under the contract, Taoq will provide multilingual media and consulting services across multiple platforms. No further details were provided.
HEALTHCARE-
Dallah taps Youssef Marroun to build its new hospital in Al Arid: Youssef Marroun Contracting will be building Dallah Healthcare’s latest hospital in Riyadh’s Al Arid area under a SAR 690 mn contract it signed with the Tadawul-listed healthcare provider last week, according to a disclosure to Tadawul. The project is expected to be completed in two years, with operations scheduled to start in 1Q 2027.
LOGISTICS-
The Saudi Port Authority (Mawani) has added a shipping service operated by Chinese shipping line NewNew Line to Jeddah Islamic Port, according to a statement. The service, dubbed CBS, will connect Jeddah with key Chinese ports, including Tianjin, Qingdao, Shanghai, and Guangzhou. It also links to Egypt’s Damietta port. It operates weekly trips with a capacity of up to 4k TEUs.
REAL ESTATE-
Jadwa Investment Co — the fund manager of Jadwa REIT Saudi Fund — signed an agreement to sell its Al Yaum Tower in Dammam for SAR 190 mn, it said in a disclosure to Tadawul, without disclosing the identity of the buyer. The fund pocketed SAR 124.8 mn in total lease income over the past six years of the property’s ownership.
ENTERTAINMENT-
The Film Commission has joined the Association of Film Commissioners International (AFCI) — a global network of over 360 film commissions in more than 40 countries, state news agency SPA reported. The membership will help develop the film industry in the Kingdom and empower local producers and talents.
