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- Saudi riyal symbol: strategic step toward global financial standing
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- Saudi Awwal Banks becomes first bank in Saudi Arabia to win Sustainability Program Award 2024 at Capital Markets Forum
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- Closing Bell: Tadawul rises on positive trading day, Nomu follows suit
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
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
28/02/2016
King Abdullah Economic City (KAEC), a special economic zone on Saudi Arabia's Red Sea coast, is set to offer affordable apartment homes in its newly built Al-Shurooq community following the success o
Trade Arabia
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| JABALOMAR | 25.30 | 0.00 (0.00 |
| DARALARKAN | 18.40 | 1.28 (7.47 |
| MCDC | 109.40 | 0.60 (0.55 |
| TAIBA | 48.55 | -1.15 (-2.32 |
| ENMAALRAWABI | 28.15 | 0.00 (0.00 |
10/03/2025
Doha Bank introduced a suite of exclusive offers for NRIs on their Visa Platinum Debit Card, delivering exceptional value across travel, lifestyle, dining, and retail. These carefully curated benefit
The Peninsula
10/03/2025
Saudi Awwal Bank has been awarded the Sustainability Program of the Year 2024 at the Capital Markets Forum (CMF), organized by the Saudi Stock Exchange Group (Tadawul).
This achievement make
Saudi Gazette
10/03/2025
Saudi Aramco has lowered its crude oil prices for Asian buyers in April, marking the first reduction in three months. This price cut aligns with market expectations and follows the decision by OPEC+
Arab News
09/03/2025
United Development Company (UDC), the master developer of The Pearl and Gewan Islands, has continued its global track record of accomplishments by securing three new Guinness World Records. This rema
The Peninsula
07/03/2025
Talabat Kuwait has denied rumors of a security breach, assuring customers and partners that all personal and payment information remains fully secure.
In an official statement, Bader Al-Ghan
Trade Arabia
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia