DEBT WATCH-

Scientific and Medical Equipment House renewed a SAR 250 mn shariah-complaint credit facilities agreement with Riyad Bank, it said in a disclosure to Tadawul. Valid until July 2027, the funding will support current and future projects, bank guarantees, and letters of credit. The company has assigned contract proceeds and promissory notes valued at SAR 259.8 mn as guarantees for the credit facility.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

M&A-

Business intelligence firm T2 acquired a majority stake in homegrown fintech Moola for an undisclosed sum, they said in a joint statement (pdf) on the sidelines of the ongoing Leap 2025. The sale marks T2’s entry into the domestic fintech scene. “The acquisition will allow us to enhance our services, support more businesses in optimizing their financial operations, and strengthen our position as a corporate expense management platform in Saudi Arabia,” said Founder and CEO of Moola.

AVIATION-

National flag carrier Saudia is adding over 10 new destinations to its networks in Europe, the Middle East, and Asia this year, driven by a 16% y-o-y surge in international guest numbers in 2024, the carrier said in a post on Linkedin. New headings include Vienna (Austria), Venice (Italy), Larnaca (Cyprus), Athens and Heraklion (Greece), Nice (France), Malaga (Spain), Bali (Indonesia), Antalya (Turkey), El Alamein (Egypt), and Salalah (Oman). The latest additions expand the national carrier’s existing network of upwards of 100 destinations worldwide.

LOGISTICS-

SALLogistics Services is collaborating with Al Madinah Region Development Authority to enhance logistics services and smart facilities at Prince Mohammed bin Abdulaziz International Airport, according to a post on X. The partnership focuses on developing and implementing smart facilities at the airport, developing a strategy to improve logistics solutions offered to exporters, in addition to other initiatives to promote sustainability, and support regional events.

REAL ESTATE-

Dar Global lines up financing for upcoming project in Oman: Dar Global — the Dubai-based international arm of Saudi real estate developer Dar Al Arkan — secured financing from the National Bank of Oman to develop its 3.5 mn sqm Aida luxury project in Muscat by 2028, according to a press release. The size and terms of the financing secured were not disclosed.

About Adia: The luxury development will feature premium residences and amenities, including the USD 500 mn Trump International Oman and USD 100 mn Marriott Residences. The first phase of the project, set for completion in 2027, will focus on critical infrastructure, while Trump Int’l Oman is slated to open its doors in Dec 2028.

STARTUP WATCH-

The Transport and Logistic Services Ministry launched the MahataTech incubator, which targets Riyadh-based startups operating in the transport and logistics sector under a four-months incubator program, it said in a post on X. The ministry will accept applications here until 6 March.

REGULATION WATCH-

Tobacco sales could see some restrictions in kiosks + grocery stores: The Municipalities and Housing Ministry has proposed new regulations (pdf) to restrict tobacco sales in kiosks, grocery stores, and supermarkets, with key measures including removing tobacco products from visible displays, requiring 18+ age verification, banning tobacco ads, and prohibiting smoking indoors.

The rules also mandate separate displays for energy drinks with notices of 16+ age limits, along with health and safety standards for workers and product placement. The new regs are up for public consultation on Istitlaa.

Tags: