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- QIIG wins 'Takaful Insurance Company of the Year' award
- UDC wins Gold and Silver at Abu Dhabi Maritime Awards 2025
- Qatar Stock Edges higher on broad-based gains
- OPEC+ to undergo annual oil capacity audit under new plan
- NIC appoints Mohammed Al-Kharafi as Senior Executive Officer for DIFC office
- Omani-Saudi Coordination Committee in Trade, Industry and Economy meets
- Asyad unveils logistics projects to support hydrogen economy
- OQGN acquires gas pipeline in Block 61 for RO40mn
- Gold Falls 1% as Investors Book Profits, Treasury Yields Rise
- Prada Group acquires Versace in a $1.37 billion deal
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 | 19.10 | -0.23 (-1.19 |
| JABALOMAR | 14.93 | 0.05 (0.33 |
| DARALARKAN | 15.33 | -0.33 (-2.11 |
| MCDC | 82.80 | -0.20 (-0.25 |
| CENOMICENTERS | 19.55 | -0.25 (-1.27 |
03/12/2025
At a prestigious ceremony held at Atlantis The Palm - Dubai, Qatar Islamic Insurance Group (QIIG) received the 'Takaful Insurance Company of the Year' award at the 12th Middle East Insurance Industry
The Peninsula
03/12/2025
In a new milestone that reinforces its position as one of the region's leading developers, United Development Company (UDC), the master developer of The Pearl and Gewan Islands, announced that it has
The Peninsula
03/12/2025
The National Investments Company (NIC) has announced the appointment of Mohammed Adel Al-Kharafi as Senior Executive Officer (SEO) of its Dubai International Financial Centre (DIFC) office. This appo
Kuwait Times
03/12/2025
Asyad Group has unveiled a series of forward-looking projects aimed at enhancing the readiness of Oman's national logistics infrastructure to support the green hydrogen economy.
The announce
Muscat Daily
03/12/2025
OQ Gas Networks (OQGN), the sole operator of Oman's natural gas transportation network, has signed an agreement to acquire a gas transportation pipeline in Block 61, which hosts the Khazzan and Ghaze
Muscat Daily
Financial Information Co.
Saudi Arabia