BinDawood snags Vaza Food, Al Ramz now full owns Qurtuba 2 fund

BinDawood finalizes Vaza Food acquisition

Retail giant BinDawood Holding officially completed its acquisition of a 51% stake in Vaza Food Company for SAR 217.9 mn, according to a Tadawul disclosure.

What’s next: The closing of the Vaza transaction marks the first half of BinDawood’s broader push into upstream food processing, which includes the pending takeover of the UAE’s Wonder Bakery. This follows a busy expansion period for the retailer, which has recently absorbed pharmacy chain Zahrat Al Rawdah, kids toy distributor Toy Triangle, and marketing tech firm Mirror Mirror to diversify revenue away from pure-play grocery retail.

Al Ramz to take full control of Qurtuba 2 project fund

Al Ramz Real Estate signed agreements to acquire the remaining 77% stake in the Al Ahli Aleen Enbar Real Estate Fund for SAR 133 mn, raising its ownership from 23% to 100%, according to a Tadawul filing. The fund owns the Qurtuba 2 mixed-use development in Riyadh, planned to include around 1.8k residential units and 250 commercial and office units on a 130.4k sqm site. The transaction will be funded through Al Ramz's own resources and credit facilities and remains subject to regulatory and contractual approvals.