Business & Money | Monday 15 December, 2025 9:51 am

PALMA DEVELOPMENT AWARDS AED 760 MILLION CONTRACT FOR WEST RESIDENCE AT SERENIA DISTRICT

 Palma Development, one of the pioneering developers in the UAE real estate industry, has awarded an AED 760 million construction contract to Khansaheb Civil Engineering to deliver the West Residence, a 46-storey tower, which represents phase 1 within Serenia District at Jumeirah Islands. The...

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Business & Money | Monday 15 December, 2025 9:25 am

Alkhorayef Water awarded SAR 57.3M contract by NWC in Hafer Al-Batin

Alkhorayef Water and Power Technologies Co. (AWPT) was awarded a contract on Dec. 11 by the National Water Co. (NWC) at a value of SAR 57.28 million (excluding VAT).   Under the 36-month contract, AWPT will perform the operation and maintenance of water and wastewater networks in...

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Business & Money | Monday 15 December, 2025 9:14 am

Red Sea International unit renews SAR 439.6M banking facilities

Red Sea International Co.’s subsidiary, the Fundamental Installation for Electric Work Co. (First Fix), signed two financial facilities agreements with Alinma Bank and Riyad Bank, at a total value of SAR 439.6 million, according to two separate statements to Tadawul. The first...

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Business & Money | Monday 15 December, 2025 9:12 am

SAL inks integrated logistics deal with AFC Cup 2027 Organizing Committee

SAL Saudi Logistics Services Co., through its logistics division, signed a framework agreement on Dec. 14 with the Local Organizing Committee for the AFC Asian Cup 2027 to provide integrated logistics and supply chain solutions for related events and activities. In a statement to Tadawul, the...

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Business & Money | Sunday 14 December, 2025 7:49 am

Under the patronage of the Deputy Governor of the Makkah Region and in the gracious presence of the Governor of Jeddah, Souq7 is inaugurated in the Kingdom as the largest open-air retail and entertainment destination.

Under the patronage of His Royal Highness Prince Saud bin Mishaal bin Abdulaziz Al Saud, and honoured by the presence of His Highness Prince Saud bin Abdullah bin Jalawi, Governor of Jeddah, Souq7 officially opened its doors on Wednesday, December 10, 2025 (19 Jumada Al-Akhirah 1447H), marking a...

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Business & Money | Sunday 14 December, 2025 7:43 am

Azizi Developments Signs Large Land Lease Agreement of 440,000 sqm with AD Ports Group

Azizi Developments, a leading private developer in the UAE, today announced that it has signed a 50-year lease agreement with AD Ports Group (ADX: ADPORTS) subsidiary Khalifa Economic Zones Abu Dhabi – KEZAD Group, representing an investment value of AED 2 billion that will facilitate the growth...

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Business & Money | Sunday 14 December, 2025 7:42 am

Dubai Maritime Authority announces Mandatory Plan for Marine Traffic on New Year’s Eve 2026

The Dubai Maritime Authority at the Ports, Customs and Free Zone Corporation has announced the implementation of a mandatory plan for managing marine traffic in preparation for the 2026 New Year’s Eve celebrations, aiming to ensure the highest levels of safety and organization across Dubai’s...

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Business & Money | Sunday 14 December, 2025 7:33 am

Union Properties breaks ground ‘Mirdad’, another flagship AED 2 billion community development in Motor City

Union Properties PJSC (“Union Properties” or “the Company”) (DFM symbol: UPP) has officially broken ground on ‘Mirdad’, its AED 2 billion flagship project in Dubai Motor City, the Company’s second landmark development in the area. This milestone underscores Union Properties’ renewed ...

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Business & Money | Sunday 14 December, 2025 7:29 am

Abu Dhabi launches FIDA cluster to shape the next generation of financial and investment solutions

Abu Dhabi has launched the FinTech, Insurance, Digital and Alternative Assets (FIDA) cluster to accelerate the development of next-generation financial and investment solutions and expand the emirate’s role as a global capital hub. Spearheaded by the Abu Dhabi Department of Economic...

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Business & Money | Sunday 14 December, 2025 7:20 am

Residential property prices mixed in Q3 2025: JLL

JLL said that growth in Saudi residential property prices has slowed and, in some cases, declined following a period of strong expansion, particularly in the capital, Riyadh.   In a report, JLL noted that other markets recorded strong demand accompanied by continued price increases,...

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