Markets Hospital operator SMC given approval for Saudi IPO Specialized Medical Company (SMC), which operates two hospitals in Riyadh, has received approval from Saudi Arabia’s Capital Markets Authority to launch an initial public offering (IPO). The announcement allows SMC to issue 75,000 shares, representing 30 percent of its share capital. No further details about the listing were released. SMC’s CEO, Bassam Chahine, told AGBI […] March 27, 2025
Markets Junior Saudi market considers easing investor requirements Saudi Arabia’s Capital Markets Authority has proposed reforms to broaden the investor base of the kingdom’s junior stock market in an attempt to increase liquidity. The changes relax the requirements to register as a “qualified investor” on Nomu, the parallel alternative to the Tadawul, and extend this designation to board and committee members of listed […] March 26, 2025
Analysis Banking & Finance Riyadh’s financial ambitions bump up against hard reality Saudi Arabia wants to emulate London or Hong Kong in the international money markets and become a global financial centre, Saudi investment minister Khalid Al-Falih said at a capital markets conference in Riyadh in February. “We need to channel global capital,” he said. “We want to become a regional financial hub.” But judging by the […] March 26, 2025
Finance Umm Al Qura shares soar as more Saudi IPOs approved Shares in Saudi Arabia’s Umm Al Qura for Development and Construction surged 30 percent on Monday, the maximum allowed on a first day of trading. The Capital Markets Authority (CMA) also approved another three companies for initial public offerings. Within minutes of the opening of the Saudi Exchange, after Umm Al Qura raised SAR1.96 billion […] March 25, 2025
Construction Mecca property developer shares could jump after IPO Shares in Saudi Arabia’s Umm Al Qura, which will start trading on the main stock exchange on Monday following an initial public offering, should attract “a lot of interest” from investors looking to capitalise on the real estate market in one of Islam’s holiest cities, analysts have said. The company, which is overseeing a mixed-use […] March 23, 2025
Markets Five more IPOs approved by Saudi regulator Five more companies have received approval to sell shares in initial public offerings from Saudi Arabia’s Capital Markets Authority regulator. Already this year three Saudi companies, Derayah Financial, Umm Al Qura and Arab Company for Agricultural and Industrial Investment (Entaj), have raised more than $1 billion in IPOs. Shares in both Derayah Financial and Entaj […] March 21, 2025
Finance Gulf Islamic Investments makes US expansion a priority Gulf Islamic Investments, Dubai’s financial services company which has more than $3.5 billion of assets under management, is aiming to more than double the value of its business in the United States. GII’s US assets total $750 million and include an 80 percent share in ZSpace, a virtual reality education technology company with a market […] March 21, 2025
Employment Gulf consulting market expected to cross $8bn this year The Gulf consulting sector is expected to outperform the rest of the world in 2025 with growth of 12 percent, twice as fast as the United States. Although the regional market is predicted to be worth more than $8 billion, growth will be at a slightly slower pace. Last year the GCC market grew by […] March 19, 2025
Real Estate Riyadh adds 10 times as much office space as Dubai Riyadh added the most office space of any Middle Eastern city last year, nearly 10 times as much as its regional rival Dubai. However, the additional supply is unlikely to ease a chronic shortage of prime commercial property in the Saudi capital in the short term. Riyadh, which has a population of seven million, added […] March 18, 2025
Banking & Finance Marketing Home Group wins Saudi IPO regulatory approval Saudi Arabia’s Marketing Home Group (MHG), a company that oversees nine construction retailers and contractors, has received regulatory approval to sell shares to the public in an initial public offering (IPO). MHG is selling 4.8 million shares, representing 30 percent of its capital, the kingdom’s Capital Markets Authority (CMA) announced. No further details were given […] March 18, 2025
Analysis Employment SMEs struggle as skills shortages drive up Saudi salaries Wassim Elaify is not short of work. Quite the opposite. Indicators, the accountancy firm he manages in Riyadh, is receiving more requests to be taken on as clients from expanding Saudi companies and newly arrived international groups than it can handle. Saudi Arabia‘s non-oil economy is expanding at more than four times the rate of […] March 18, 2025
Markets Entaj share price rises 30% in first day on Tadawul The share price of poultry producer Entaj has risen by 30 percent on its first day of trading, the maximum daily increase allowed on the Saudi stock exchange. Entaj – formally known as the Arabian Company for Agricultural and Industrial Investment – is the fourth company to list on Saudi Arabia’s main market this year. […] March 17, 2025
Finance Poultry producer Entaj to list on the Saudi Stock Market The Arabian Company for Agricultural and Industrial Investment (Entaj) will list on the main market of the Saudi Tadawul on Monday with a share price of SAR50 ($13.30). It will be the fourth company to list on the main Saudi market in 2025 after the beauty ecommerce company Nice One and health care group Almoosa […] March 16, 2025
Analysis Aviation Saudia ‘still a flag carrier’ ahead of Riyadh Air launch Saudi Arabia’s flag carrier Saudia is upgrading its fleet with new Boeing and Airbus aircraft even as the government prepares to start a new airline later this year. The 80-year-old carrier has 118 aircraft on order, most of which will replace older models in its existing fleet of 147, and are scheduled to arrive through […] March 14, 2025
Giga-projects Saudi Arabia still needs consultants despite PwC ban Saudi Arabia’s Public Investment Fund may have banned the global professional services giant PwC from any new advisory work for the next year, but the kingdom still needs all the help it can get, according to analysts. The country is spending billions of dollars on infrastructure and other projects as it attempts to diversify its […] March 13, 2025
Giga-projects Diriyah secures $1.6bn loan to back cultural destination Diriyah Company has secured a SAR6 billion ($1.6 billion) loan from Banque Saudi Fransi (BSF) to develop Wadi Safar, a 62 sq km cultural and tourism destination west of Riyadh. Wadi Safar is intended as an “exclusive residential development”, a statement read, “that will feature a selection of ultra-luxury hospitality, sports and leisure, and retail assets”. It […] March 13, 2025
Finance Derayah share price soars on first day of trading Shares in the online brokerage Derayah Financial rose by 30 percent on their first day of trading, the maximum allowed for newly listed companies, the Saudi stock exchange said. Derayah, the third-largest broker in Saudi Arabia, floated 20 percent of its shares on the Tadawul, the main market of the Saudi Stock Exchange, in a […] March 10, 2025
Mining Ma’aden to invest billions after profit surge The Saudi state mining company Ma’aden is looking to invest between SAR8.6 billion and SAR10.6 billion ($2.3 billion to $2.8 billion) this year as profits bounce back after a three-year low. It announced an 82 percent year-on-year increase in profits for 2024 to reach SAR2.87 billion, according to a disclosure made to the Saudi Stock […] March 7, 2025
Opinion Economy Aramco’s $40bn dividends drop highlights Saudi spending The shortfall is a blow to ambitious projects and reducing dependence on the oil giant's profits March 7, 2025
Analysis Construction Saudi construction surge draws interest from around the world Brazil’s ProMarmo, a small family-owned supplier of marble, onyx and granite, has just two branches, both in the southern Brazilian state of Rio Grande do Sol. After more than 20 years in business, the company is considering opening its third branch in none other than distant Saudi Arabia. Growing numbers of small construction companies, contractors […] March 6, 2025
Analysis Oil & Gas Saudi deficit to rise after $40bn loss in Aramco oil dividends A projected 30 percent drop in Saudi Aramco’s oil dividends in 2025 is likely to force the government and state-owned Saudi Public Investment Fund to step up borrowing to fund infrastructure and other projects under the kingdom’s Vision 2030 economic and social strategy, analysts say. The world’s largest oil company intends to cut dividends to […] March 4, 2025
Real Estate Saudi city rental yields top the Gulf as demand surges One-bedroom apartments in Saudi Arabia’s West Riyadh and North Jeddah now command the highest rental yields across the Gulf as demand for housing in the largest Arab economy surges. Although rents in Saudi Arabia are still relatively low compared with other countries in the region, they nonetheless grew by more than 10 percent last year. […] February 28, 2025
