TECH-

#1- Al Moammar Information Systems Company (MIS) sealed a framework agreement to add up to 112 MW in capacity to Saudi Data Center Fund 1’s existing data centers, it said in a Tadawul disclosure. The 36-month agreement could also see MIS establish new data centers for the fund. The financial details of the agreement will be announced once Saudi Data Center Fund 1, represented by Saudi Fransi Capital as its manager, hands in development notices.

MIS + Saudi Data Centers Fund 1 go way back: The fund was established in 2021 when MIS and Saudi Fransi Capital inked a SAR 1.2 bn agreement to develop, design, and manage data centers through the private investment fund. The agreement laid out plans for six data centers with a combined 24 MW capacity.

#2- Wsm for Information Technology signed a SAR 500 mn, three-year agreement with an undisclosed governmental entity to provide purchase order services, it said in a Tadawul disclosure.

CAPITAL MARKETS-

Sukuk Capitalmet the requirements stipulated by the Capital Market Authority to start offering arranging services in the securities market, the authority said in a statement. The company received its license on 17 March.

FINANCIAL SERVICES-

Tamara to boost Amazon payment options: Amazon Payment Services added Buy Now Pay Later (BNPL) provider Tamara Finance to its platform, according to a press release. The new service provides more flexible payment options to businesses operating in the Kingdom and the UAE, allowing customers to split payments into four interest-free installments.

REMEMBER- The Kingdom’s first homegrown fintech unicorn obtained a full-fledged Saudi Central Bank-issued consumer finance license, including buy-now-pay-later services, back in March.

REAL ESTATE-

#1- Umm Al Qura for Development and Construction sold two land plots valued at SAR 235.1 mn to Wijhat Albait Real Estate, according to a disclosure to Tadawul. The parcels, which have a combined area of 5.4k sqm and are located in the Masar Destination project, are set to host the development of one residential tower each. Umm Al Qura will allocate the sale proceeds to finance working capital and ongoing projects.

#2- Jeddah to get 1.4k new homes: The National Housing Company (NHC) signed an agreement with the China Airport Construction Company to develop 1.4k residential units in the Rihab Al Sadan project, it said on X. The project is part of the 4.2 mn sqm Al Sadan destination and an agreement reached with Chinese to develop some 20k residential units in the Kingdom, Al Riyadh reports.

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