M&A WATCH-

Abdullah Al Othaim Markets ended talks to acquire a 51% stake in Ebdaa Al Qasr Marketing after both parties failed to reach a final agreement, it said in a disclosure to Tadawul yesterday. Al Othaim had signed a non-binding MoU in March with Al Musbah Group to acquire a 51% stake in Ebdaa Al Qasr Marketing — the brand operator of high-end supermarket chain Manuel Market — which was valid for 90 days.

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REAL ESTATE-

Hawyia Auctions sold residential plots worth SAR 919.5 mn in Riyadh’s Al Raed district as part of the Al Jawhara masterplan auction, it said in a disclosure to Tadawul yesterday. Hawyia Auctions’ shares started trading on Tadawul’s Parallel Market Nomu lastSunday, after its IPO on was 310.7% oversubscribed.

HOSPITALITY-

King Abdullah Sports City is getting two new hotels: The Sports Ministry signed Koushan Real Estate Development, IHG Hotels and Resorts, and Zuhair Fayez to build, manage, and operate two new international hotels within King Abdullah Sports City in Jeddah, state news agency SPA reported on Tuesday. The 16k sqm development will include 585 rooms, a fan zone, health clubs, pools, international restaurants, and conference facilities.

IN CONTEXT- The Ministry pitched 36 potential investments at the Sports Investment Forum (SIF) in April, including four state-owned sports assets across four major cities and another 32 assets to develop sports club facilities and services. This is part of the Kingdom’s plan to unlock private sector investments to shore up investment ahead of the 2034 FIFA World Cup.

MEDIA-

Homegrown B2B platform CoProduction Salon signed a three-year strategic agreement with the Saudi Media Forum to host its next edition in Riyadh, starting with the upcoming Future of Media Exhibition, it said in a press release yesterday. The Salon will connect producers, platforms, and investors through a structured B2B format that includes data analysis, project marketing, and financing matchmaking.

About the Forum: The Saudi Media Forum gathers leading local and international media professionals to discuss strategic partnerships, digital media, green technology in media, podcasting, the 2034 World Cup, and the impact of AI on media.

STARTUP WATCH-

The Sidra Hackathon wrapped up earlier this week with SAR 500k in total prizes awarded to the top three teams, which were competing on developing sustainable solutions, according to an emailed statement (pdf) to EnterpriseAM. The event was held at Riyadh’s Princess Nourah bint Abdulrahman University, with 86 teams participating and 10 reaching the final round.

The awardees: First place and SAR 250k went to Drop of Palm Trees, a project that uses AI- and IoT-powered mats to improve irrigation efficiency. NanoClean took second place and SAR 150k for its solar- and nanotech-based system that cleans up oil spills and converts them into biofuel. The third-place prize of SAR 100k went to Masar, which developed a smart water management system for agriculture.

FINANCIAL SERVICES-

Derayah Financial appointed Bahrain-based Shariyah Review Bureau as Sharia advisor to ensure full compliance of its operations, products, and activities, it said in a disclosure to Tadawul yesterday. The Bureau will set up a supervisory committee to conduct audits and report findings annually to Derayah’s board.

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