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Business

2PointZero posts profit surge

Growth driven by merger consolidation.

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

Savola sells KEC stake for $122m

Knowledge Economic City is owned by Savola Group directly and indirectly at an approximate share of 11.47 percent. (ITP)
By TRENDS Desk
August 11, 2022 3:09 pm
  • The company said it wants to focus on investing in its main operations in the food and retail sectors, while ending investments in non-core businesses
  • Knowledge Economic City’s shares ended Wednesday’s trading session 6.12 percent higher at SR14.56

Savola Group has sold its stake in Knowledge Economic City Co. and Knowledge Economic City Developers Co. Limited for $122 million.

The company wants to focus on investing in its main operations in the food and retail sectors, while ending investments in non-core businesses, the group said in a bourse filing.

Knowledge Economic City is owned by Savola Group directly and indirectly at an approximate share of 11.47 percent.

Knowledge Economic City’s shares ended Wednesday’s trading session 6.12 percent higher at SR14.56.

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INSEAD Day 4- 300x600
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