CAPITAL MARKETS-

Morgan Stanley Saudi Arabia can now conduct market-making activities on eight Tadawul and Nomu-listed companies, after getting the greenlight from the exchange, according to a statement.

The companies include telecoms firm Solutions, Electrical Industries, Elm, Cooperative Ins. (Tawuniya), National Environmental Recycling (Tadweeer), International Human Resources (IHR), Almuneef for Trade, Industry, Agriculture an Contracting, and Aqaseem Factory for Chemicals and Plastics.

INFRASTRUCTURE-

Hassan Allam lands in Neom port: Egypt’s Hassan Allam Holding’s subsidiary Hassan Allam Roads and Bridges was awarded a roads and paving works contract at the Port of Neom, according to a statement published last week. The work — which covers a total area of 375k sqm — will include supplying and applying pavement across multiple zones as well as expanding Neom’s infrastructure.

This has been in the making for a while: Our friends at Hassan Allam Construction Saudi were awarded a contract in July 2024 to develop Port of Neom’s Container Terminal 1 and a related marine services area. The company will work with El Seif Engineering Contracting and China Harbour Engineering.

REAL ESTATE-

Msandh Alemdad — a unit of Al KathiriHolding Company inked a SAR 82.7 mn contract with the NationalHousing Company (NHC) to complete electromechanical and finishing works for 295 villas in the third phase of the Melaa Project in Jeddah, according to a disclosure to Tadawul. The contract will span for six months.

DEBT WATCH-

Nomu-listed MolanSteel plans to issue sukuk worth SAR 20 mn, with proceeds going toward the financing of future company investments and operational needs, it said in a disclosure to Tadawul. The company tapped Afaq Financial as the sole arranger for the issuance.

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