UAE startups eye Saudi Arabia for growth, expansion
With both nations offering substantial markets and supportive environment for innovation, startups are exploring new opportunities in the Kingdom.Business
GSK to buy Aiolos Bio
The focus is on an asthma medication still at the testing stage.Company News Business
AlUla will become top tourist destination: French ambassador
Ludovic Pouille, French ambassador to Saudi Arabia, believes that AlUla Governorate will become one of the top international tourist destinations...He also expressed admiration of what he saw during his third visit to AlUla this year, referring to its nature and developments
The ambassador noted that the two countries cooperate in the field of agriculture and environment employing innovative techniques and methods to face the climate change
AD Ports subsidiary forays into construction logistics market
MICCO Logistics, a subsidiary of AD Ports, has shown interest in tapping into the construction and metals manufacturing sector by...The acquisition, with a combined transport capacity of more than 2,300 metric tonnes, will expand the company’s existing ground fleet of more than 400 vehicles
The new tipper fleet will be fully equipped with pre-installed fleet management systems
Emaar Malls Q3 net profit $122m
The profit is 86 percent more than that of Q3 2020.The revenue rose to 1.14 billion dirhams from 839 million dirhams in the same period last year.
Occupancy at key assets of Emaar was 91 percent during the quarter.
Kuwait’s shopping mall, the Avenues, to open in Saudi Arabia
The largest shopping mall brand in Kuwait, the Avenues, is all set to venture into Saudi Arabia with the opening...It will launch the outlets in Riyadh and Alkhobar
The design for Riyadh is now complete and the contract is expected to be awarded soon
Q3 real estate transactions worth $1.55 billion recorded in Sharjah
Real estate transactions worth AED5.7 billion ($1.55 billion) were recorded in Sharjah during the third quarter of 2021, an increase...A total of 1,662 sales transactions were recorded during Q3 2021, showing an increase of 52.5 percent compared to the same period last year.
About 76 percent (1,262) of the sales transactions were made in the residential sector, followed by industrial sector (206), commercial (152) and agricultural (42).
Expo 2020 receives 3m visits in first five weeks
It has just been a little more than a month and Expo 2020 has received some three million visits, since...Organizers also said that the number of virtual visits to the Expo 2020 Dubai’s online platform has reached 14.8 million since October 1
Ticket sales for the fair have been beefed up to increase traffic to the fair
Fertiglobe revenues up 175 percent in Q3
The company expects the strong showing to continue in Q4.The adjusted EBITDA increased 257 percent to $371 million in Q3 2021 as compared to Q3 2020.
Fertiglobe will join ADNOC and ADQ as a partner in a new world-scale 1 million metric tons per annum blue ammonia project at TA’ZIZ in Ruwais.
Non-Saudis can now invest in real estate funds in two holy cities
The Capital Market Authority (CMA) of Saudi Arabia allowed the financial market institutions to accept the subscriptions of non-Saudis in...The ownership system for non-Saudis in the Kingdom stipulates that non-Saudis are allowed to own real estate for their own residence
It can happen after obtaining a license from the Ministry of Interior, and for foreign representations to own their official headquarters
Etihad Rail completes construction of UAE network’s first marine bridge
Etihad Rail has completed the construction of a rail bridge connecting Khalifa Port with the UAE National Rail Network. The...The bridge will play an important role in improving the transportation of goods in the region.
Etihad Rail recently completed construction works for Package A of Stage Two, which extends over 139 km.
Investcorp builds €1bn European real estate portfolio
Since launching its European real estate business in 2017, Investcorp has invested close to €1 billion into 80 properties across...Since launching its European realty business in 2017, Investcorp has invested €1 billion into 80 properties across the UK, Germany, The Netherlands, and Belgium
The recent industrial acquisitions comprise three multi-let and seven single-let industrial properties located in Bedford, Warrington, Stone, Gateshead, Stockton-on-Tees, etc
