LOGISTICS-

The Transport General Authority carried out its first drone delivery trial for parcels, running a test flight from Jeddah Islamic Port to Al Balad district, the authority said on X yesterday. The pilot project — conducted in partnership with Aramex, the Transport and Logistics Services Ministry, the General Authority of Civil Aviation, and the National Industrial Development and Logistics Program — aims to test the use of drones in postal services and assess their role in improving delivery.

Drones to speckle the Kingdom’s skies: US-based Matternet M2 delivery drones received regulatory approval in January to operate in the Kingdom, and Flynas has been testing its eCopter prototype this year. In the industrial sector, Japan’s Terra Drone partnered with Aramco in April for facility inspection drone tests. The Interior Ministry has also deployed high-altitude road security drones.

DEBT WATCH-

#1- Taiba Investments secured a SAR 425 mn shariah-compliant murabaha loan from Saudi Awwal Bank to renovate its Taiba Front Hotel in Madinah ahead of rebranding it as a Waldorf Astoria hotel, it said in a disclosure to Tadawul on Thursday. The seven-year financing includes a one-year grace period and is backed by a promissory note.

About the project: Located near the Prophet’s Mosque, the project will mark the Hilton-owned brand’s first presence in the city, featuring over 300 rooms, in addition to restaurants, event halls, and other facilities.

#2- Dr. Soliman Fakeeh Hospital Co. secured a SAR 570 mn shariah-compliant loan from Saudi National Bank, according to a disclosure to Tadawul on Thursday. The funding package features SAR 300 mn in short-term facilities and SAR 270 mn in long-term financing, available to its subsidiaries to support expansion plans. The new facility — backed by a promissory note — replaces previous SAR 936 mn facilities that were allocated to the company’s Jeddah hospital.

REAL ESTATE-

First Avenuefor Real Estate Development launched the Tanmiya program, a partnership initiative enabling Riyadh landowners to transform underutilized properties into profitable projects, it said in a Tadawul disclosure on Wednesday. The program seeks to turn idle land into integrated, high-impact investment prospects with strong returns through models like as joint ventures and development agreements. Full program details are available in the official guide (pdf).

M&A WATCH-

Naba Alsaha Medical Services finalized its upstream merger with Al Anwar Medical Company after completing all financial and regulatory procedures to absorb its wholly owned unit, it said in a disclosure to Tadawul on Thursday. Naba Alsaha’s shareholders greenlit the move in March.

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