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- Kuwait Airways and Impulse sign strategic agreement
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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
31/07/2025
Emaar, The Economic City (EEC), the master developer of King Abdullah Economic City (KAEC), has signed an agreement with Saudi-American real estate venture Al Tahaluf for the development of two premi
Trade Arabia
29/04/2025
Saudi developer Emaar, The Economic City has signed final agreements with four local banks to reschedule SR3.39 billion ($904 million) in existing debt and secure a new credit facility.
In a
Arab News
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
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| MASAR | 23.00 | 0.03 (0.13 |
| JABALOMAR | 19.15 | 0.15 (0.78 |
| DARALARKAN | 18.72 | -0.37 (-1.94 |
| MCDC | 75.15 | -1.35 (-1.77 |
| TAIBA | 37.66 | -0.30 (-0.80 |
28/08/2025
Adnoc announced on Wednesday that it has signed a 15-year sales and purchase agreement (SPA) with Indian Oil Corporation Ltd (IndianOil), India's largest integrated and diversified energy company, fo
Khaleej Times
28/08/2025
In a significant step towards enhancing its digital transformation journey, Kuwait Airways signed a Master Services Agreement (MSA) with Impulse International for Telecommunications, laying the foun
Kuwait Times
28/08/2025
Vodafone Qatar has announced its expansion of Postpaid services through its new 'You Deserve It!' campaign, introducing new connectivity and digital lifestyle offerings to meet the evolving needs of
Gulf Times
28/08/2025
Commercial Bank, a leader in innovative digital banking solutions, has launched Visa Commercial Pay (VCP), a groundbreaking virtual payment platform designed to transform how Small and Medium-Sized E
The Peninsula
28/08/2025
Abu Dhabi-based petrochemicals company Borouge has announced that it has collaborated with Yokogawa, a leading provider of advanced automation technologies and solutions, to conduct a proof-of-concep
Trade Arabia
Financial Information Co.
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