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- Dubai's Al Ansari Financial Services completes $200m BFC deal in Bahrain
- Hilton, Mabanee in deal to open largest coastal resort in Kuwait
- Beyon sweeps 2025 Cybersecurity Excellence Awards
- Estithmar Holding Q.P.S.C General Assembly Elects Board Members
14/09/2024 13:31 AST
RIYADH: Saudi master developer Emaar The Economic City's SR8.7 billion ($2.32 billion) capital optimization plan is a "strategic response" to its current financial challenges, according to its CEO.
Speaking to Arab News, Abdulaziz Al-Nowaiser emphasized that the initiative is designed to address severe financial issues, including a significant revenue drop and a substantial increase in net loss.
The plan will provide the company, 25 percent owned by PIF, with greater flexibility to invest in key projects and support its ongoing premium city operations.
Additionally, EEC will convert SR4 billion of debt into share capital. This move is designed to reduce leverage and interest expenses, enhancing financial stability.
EEC is the master developer of the King Abdullah Economic City, a 185-sq. km. development on the Red Sea coast, where over 100 multinational and Saudi companies have already established a home.
Saudi Gazette
19/03/2025
Saudi developer Emaar, The Economic City, has signed a binding restructuring agreement with the Public Investment Fund for a loan deal valued at SR1 billion ($266 billion).
Under the terms
Arab News
26/10/2016
EMAAR the Economic City (EEC), the developer of the King Abdullah Economic City (KAEC) on the Red Sea coast of Saudi Arabia, has ramped up its use of social networking platforms to achieve its goals
Saudi Gazette
20/10/2016
The Saudi developer Emaar the Economic City (EEC) reported a third quarter loss of 81 million riyals, attributable to lower profit margins and rising expenses and depreciation costs.
EEC,
The National
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| MASAR | 21.96 | -1.04 (-4.53 |
| JABALOMAR | 21.86 | -1.04 (-4.55 |
| DARALARKAN | 20.98 | 0.00 (0.00 |
| MCDC | 99.40 | -4.80 (-4.61 |
| TAIBA | 41.25 | -1.25 (-2.95 |
10/04/2025
The Dubai-based Al Ansari Financial Services is now the GCC's biggest non-banking financial services company.
The DFM-listed Al Ansari - which also operates the UAE's biggest remittance firm
Gulfnews
10/04/2025
Kuwait-based real estate development company Mabanee and global hospitality major Hilton has announced the signing of an agreement for the development of its prime project - Hilton Kuwait Resort - th
Trade Arabia
10/04/2025
Beyon Cyber, part of the Beyon Group, has been recognized with three major accolades at the 2025 Cyber Security Excellence Awards, one of the industry's most renowned awards, voted on by the global c
Trade Arabia
10/04/2025
Estithmar Holding Q.P.S.C. announced the results of the ordinary and extraordinary general assembly meeting held on April 9, 2025, to elect 11 members for the Board of Directors of Estithmar Holding
Gulf Times
10/04/2025
Saudi Aramco has made a series of groundbreaking oil and gas discoveries in the Eastern Province and the Empty Quarter, further cementing Saudi Arabia's position as a global energy leader.
A
Arab News
Financial Information Co.
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