Saudi Edition 
Egypt Edition 
UAE Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
Share
GIGAPROJECTS-
Parsons awarded SAR 210 mn Diriyah Phase 2 contract: Parsons Corporation secured a SAR 210 mn (USD 56 mn) contract by PIF-owned Diriyah Company to support the design and delivery of the second phase of the Diriyah development, it said in a press release last week. The five-year contract covers works on parks, open spaces, and more than 55 km of streetscape, along with construction supervision for the public realm including streets, footpaths, civic buildings, and facilities.
REFRESHER- The US-based tech-focused construction firm has previously worked with the PIF on developments including Neom The Line, Oxagon, Soudah Peaks, and Rua Al Madina, King Salman International Airport, and AlWadi.
(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)
DEBT WATCH-
Perfect Presentation for Commercial Services (2P) secured an additional SAR 426.3 mn shariah-compliant credit facility from Saudi Awwal Bank, it said in a Tadawul disclosure on Thursday. The one-year facility — secured by promissory notes — will fund new awarded projects through the issuance of letters of guarantees, letters of credit and invoice financing.
ECOMMERCE-
Jahez teams up with noon: Jahez International Company for Information SystemTechnology forged a strategic partnership with ecommerce solution provider Noon to integrate services across both platforms in Saudi Arabia, it said in a press release (pdf) on Thursday. Under the deal, Jahez app will provide access to noon’s fast delivery, while noon will feature Jahez for food delivery from over 50k restaurants across 100 cities.
EXPANSION-
New York-based media firm Fortune set up its debut Middle East office in Riyadh, according to a press release published last week. The move — which was unveiled during the opening day of Fortune Global Forum — will contribute to boosting partnerships in the region. Meanwhile, Fortune eyes a debut of a regional Saudi Arabia Fortune 500 list, to shed light on the Kingdom’s leading companies.
