Aqar takes early stake in Syria’s Doushesh

Aqar backs Syrian classifieds platform

Saudi real estate platform Aqar has signed an MoU to invest up to USD 480k in Syrian classifieds company Doushesh, the Syrian firm said on Instagram. The investment will come through a Simple Agreement for Future Equity, released in tranches as Doushesh hits agreed growth milestones, and is aimed at expanding its classifieds platform and building out digital infrastructure for Syria's real estate and classifieds sectors.

It's a small check, but it fits a much larger pattern. Saudi capital has been flowing into Syrian reconstruction across energy, aviation, telecoms, and real estate. This is the private-sector, early-stage end of that push, with a Saudi platform taking a stake in Syrian digital infrastructure rather than a state-backed megaproject. The milestone-linked SAFE structure keeps Aqar's exposure small while giving it an option on a market that's only just opening to Gulf investment.

Al Rajhi Bank raises USD 600 mn sukuk

Al Rajhi Bank has raised USD 600 mn through Tier 2 social trust certificates, according to a Tadawul filing. The 10.5-year sukuk, callable after 5.25 years, carries a 6.232% annual return, with settlement due on 10 September. The certificates will be listed on the London Stock Exchange’s International Securities Market. The “social” label means the proceeds will go toward eligible social financing under the bank’s framework.

Dar AlBalad is shopping for AI capability

Dar Al Balad Business Solutions (DBS) has signed a non-binding MoU to explore buying up to 100% of two UAE-based AI firms — Clouding Computer Systems (DWC) and Clouding Intelligence Computer Systems — the company said in a Tadawul disclosure. This is a six-month MoU for due diligence, with no price tag or financial obligation if DBS walks away.

What DBS would be buying is expertise rather than scale: The target bills itself as one of the region’s leading players in enterprise agentic AI and field-deployment engineering. It was the first in the Middle East to take Salesforce’s Agentforce Partner of the Year award and has built its own agentic AI product, Empathy Studio.

DBS has been busy on the balance sheet lately, lining up a SAR 20 mn facility with Emirates NBD in August, following a matching SAR 20 mn line from SNB in June.

Serbian visa waiver

Saudi Arabia and Serbia have signed an agreement mutually exempting holders of diplomatic, special, and service passports from short-stay visa requirements, per a foreign ministry statement. Deputy Foreign Minister Waleed Al-Khuraiji signed the agreement with his Serbian counterpart Marko Djuric in Belgrade, where the two also discussed strengthening bilateral ties. Djuric said his country is also looking to further expand trade ties with the Kingdom, boost exports of Serbian products and benefit from Saudi expertise in science and technology.