Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Business

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

Sumou, Al Shabab sign contract

By TRENDS Desk
April 13, 2022 3:55 pm
  • The contract is for the purpose of leasing and investing the club’s land located on King Fahd Road and Olaya Road
  • Sumou will pay an annual rental fee of SR19.3 million

Sumou Real Estate Co.  has signed a 25-year contract with the Al Shabab football club in Saudi Arabia to develop the club’s commercial land in Riyadh.

The contract is for the purpose of leasing and investing the club’s land located on King Fahd Road and Olaya Road with an area of 42,972 square meters for the establishment of commercial, residential projects, hotels, it said in a bourse filing.

Sumou will pay an annual rental fee of SR19.3 million and the financial impact of the agreement is expected to appear on its financial statements starting from receiving the project site, it added.

[adinserter block="5"]

Most Read

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]