CONSTRUCTION-

Swiss crane manufacturer Wolffkran will provide a turnkey tower crane package for the construction of the Prince Mohammed bin Salman Stadium in Qiddiya, it said in a press release. Wolffkran will assemble, maintain, and operate 21 cranes together with some 180 specialists on-site, while monitoring operations in real-time using Wolff-Link technology, the statement said.

New technology for a challenging environment: To overcome the project’s unique engineering challenges, Wolffkran developed a new tower element that is 3.3 meters wide and 6 meters high, WOLFF XT 33, allowing cranes to freestand at over 100 meters amid high winds on a broken terrain.

MANUFACTURING-

A new fire safety equipment factory coming to Dammam: Khobar-based fire safety firm Reda Hazard Control plans to establish a new, self-funded fire safety equipment manufacturing facility in Dammam’s Second Industrial City, with an investment of USD 5 mn, Asharq Business reported yesterday, citing a company statement.

The details: The 17.5k sqm facility — the company’s fourth — aims to meet growing demand and localize production across three segments. This includes mobile equipment (such as fire trucks, emergency vehicles, and generators), security systems (like crash barriers and bullet-resistant doors), and industrial process equipment for the oil, gas, and petrochemical sectors.

ICYMI- Reda is reportedly exploring a potential sale in what could mark a rare private equity play in the kingdom’s industrial space and has initiated talks with a handful of regional and international suitors, though no final decision has been made. The company is said to be working with Moelis & Co. as it weighs strategic options.

M&A WATCH-

#1- Aictec to snap 25% equity stake in Sign Max: Advance International Company forCommunication and Information Technology (Aictec) signed a three-month binding MoU to acquire a 25% equity stake in Sign Max Advertising Company for SAR 3 mn, it said in disclosure to Tadawul yesterday.

#2- STDC finalizes Manafea Alandalus takeover: Saudi Tourism Development Company (STDC) is now the sole owner of Manafea Alandalus for Development and Real Estate Investment after acquiring the remaining 70% from Tadawul-listed developer Alandalus Property for SAR 15 mn, according to a Tadawul disclosure published yesterday.

LOCALIZATION-

The Local Content and Government Procurement Authority updated its mandatory list of national products, adding 105 new items across seven key sectors, with additional expected government spending valued at SAR 2.4 bn, it said on X.

The details: The products include 14 new products from 3 factories totaling SAR 70 mn in government spending, and 56 medical products across 8 factories totaling SAR 110 mn. The construction sector accounted for 22 products produced by 80 factories, with government spending valued at SAR 1.7 bn, while transportation and logistics included 7 products from 7 factories, totalling SAR 92 mn. Other sectors covered include furniture, cybersecurity, and IT.

REAL ESTATE-

Umm Al Qura for Development and Construction Company sold a 2.5 sqm plot located in the Masar Destination Project for SAR 255.8 mn to Home Investment Fund, a real estate fund managed by Jadwa Investment, according to a Tadawul disclosure. The company will allocate the proceeds of the transaction to finance working capital and ongoing projects.

EXPANSION-

Italian engineering and energy solutions provider Pronur is entering the Saudi market, seeking to integrate advanced technical solutions for renewable energy, energy efficiency, and sustainable resource management in a move facilitated by regional business expansion platform AstroLabs, according to a press release published on Thursday.

About Pronur: Founded in 2021 in Torino, Pronur is a multidisciplinary engineering company, focusing on sustainability and environmental sectors. It provides a host of services, including photovoltaic systems installation and energy-saving solutions.

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