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HOSPITALITY-
Jabal Omar receives license to operate second tower of landmark Makkah hotel: JabalOmar Development Co. — one of the kingdom’s largest-listed property developers — has obtained a license from the Tourism Ministry to operate the second tower of its landmark Jabal Omar Address hotel in Mecca with a five-star rating, the company said in a disclosure to Tadawul yesterday.
By the numbers: The second tower is home to 742 rooms and suites, executive lounges, and other facilities. Jabal Omar expects revenues from the second tower will land on its top line starting in 2024.
ELECTRICITY-
Another day, another new transmission project for Riyadh: Keir International inked its second contract with Saudi Electricity Company (SEC) subsidiary National Grid SA to install high-voltage underground cables, it said in a disclosure to Tadawul yesterday. The SAR 48 mn contract will see the company provide high-voltage underground cables connecting Al Aridh Bulk Supply Point (BSP) with the 132 KV network in Riyadh.
That’s two for two: National Grid awarded Keir last month a SAR 253.2 mn contract to connect Al Nazim Bulk Supply Point with the same 132 KV network in Riyadh.
SUSTAINABILITY-
RSG wants to make the kingdom’s fishing industry sustainable: Multi-project developer Red Sea Global (RSG) — which is owned by the PIF — signed a MoU with the National Livestock and Fisheries Development Program (NLFDP) to ensure environmentally and economically sustainable fishing practices in the Kingdom, it said in a statement earlier this week. The agreement will see RSG and NLFDP collaborating to ensure sustainable fishing in the kingdom for both marine life and fishermen, especially around the RSG’s regenerative tourism destinations, The Red Sea and Amaala.
FMCG-
PIF’s Halal Products, Malaysian HDC ink agreement to boost the halal industry: The Halal Products Development Company (HDPC) — a wholly owned subsidiary of the PIF — signed a strategic partnership agreement with Malaysia’s Halal Development Corporation Berhad to boost the growth of the halal industry locally and globally, the HDPC said on X.
