Search Site

Maaden raises $1.25bn in sukuk offering

The Sukuk were offered in a five-year and a 10-year tranche.

DAE net profit up 36.2%

Revenues grew by 9 percent to $1.42bn from $1.31bn in 2023.

Borouge 2024 net profit $1.24bn

The company said it will maintain a $1.3bn dividend for 2025.

ADQ, Orion to establish JV

The partners commit to deploying $1.2bn in the next four years.

Alpha Dhabi acquires interest in NCTH

The deal increases NCTH's portfolio to 8 hotels with 1,500 keys.

Hotel construction to see boom in Saudi Arabia: TOPHOTEL Projects

Around 80 hotel projects in the Kingdom are scheduled for completion next year.
  • According to the TOPHOTEL Projects, some 80 hotel projects in the kingdom are scheduled for completion next year
  • Saudi Arabia has led the hotel construction market in the Middle East with some 37,654 rooms being built at the end of the second quarter of 2022

Saudi Arabia will see a boom in construction of hotels in 2023, with some 63,753 to be available for guests next year.

According to the TOPHOTEL Projects, some 80 hotel projects in the kingdom are scheduled for completion next year.

Saudi Arabia has led the hotel construction market in the Middle East with some 37,654 rooms being built at the end of the second quarter of 2022, according to data recently released by global hospitality insight provider STR.

In 2023 some 63,753 rooms will be available for guests, up from the 9,207 keys from this year’s projects.