REAL ESTATE-

Najran launched ten developmental projects worth SAR 325 mn, state news agency SPA reported yesterday. Implemented by the National Water company, the projects include six projects worth over SAR 201 mn to expand water networks across Najran in phases one and two, along with three additional projects valued at more than SAR 122 mn under phases three and four. Also, a SAR 2 mn chemical analysis laboratory for agricultural products was opened.

Meanwhile, 19 new projects valued at SAR 825 mn were inaugurated focusing on critical infrastructure, including nine water projects worth SAR 422 mn for new reservoirs and networks, and three sewage projects of value SAR 323 mn for treatment plants. In rural areas, five sustainable projects totaling SAR 69 mn were launched, covering livestock complexes and marketing centers. Projects also included an SAR 8 mn project to develop the infrastructure for Najran National Park and a SAR 1.8 mn initiative to secure abandoned wells.

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M&A WATCH-

Shatirah House Restaurant (Burgerizzr) signed an agreement to acquire a 60% stake in Coffee Bean Trading (Shovel), it said in a disclosure to Tadawul yesterday. The acquisition, aimed at enabling Burgerizzr to tap into the café sector, will be funded via the company’s own resources and is subject to regulatory approvals. No financial details were disclosed.

DEBT WATCH-

Almoosa Health Group lined up a SAR 650 mn shariah-compliant loan from Banque Saudi Fransi to support its expansion and growth plans, it said in a disclosure to Tadawul yesterday. The seven-year credit facility is backed by a promissory note and will be used to fund the healthcare provider’s ongoing and future projects.

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