SRMG doubles down in Thmanyah, Al Akaria awards Porta Jeddah contract

SRMG subsidiary to raise stake in Thmanyah to 75%

Arab Media to snap up more of Thmanyah: Saudi Research and Media Group’s (SRMG) Arab Media Company will up its stake in digital publisher Thmanyah Company for Publishing and Distribution to 75% from 51%, according to a Tadawul statement.

Transaction mechanics: Under the arrangement, Thmanyah will raise its capital by tapping SAR 52.4 mn in accumulated funding provided by Arab Media, alongside a SAR 45 mn payment to minority partners. Beyond the immediate buyout, Arab Media committed up to SAR 200 mn in additional funding over the next four years on non-preferential terms to scale Thmanyah’s businesses.

Al Akaria awards SAR 463 mn Porta Jeddah construction contract

Al Akaria assigns Porta Jeddah package to Mobco: Saudi Real Estate Company (Al Akaria) awarded the mixed-use Porta Jeddah ’s SAR 463.1 mn execution package to Mounes Mohamed Alshayeb for Civil Construction (Mobco), according to a Tadawul disclosure. The scope includes structural works across all components (including the hotel), external facades, electromechanical works (excluding the hotel), and public and landscaped areas.

Al Akaria is in its delivery era: Al Akaria has a heavy project backlog it needs to deliver, including early works for the Expo 2030 Riyadh site, Fai Sedra complex, and Al Narjis Business Park. As of last month, the PIF-backed firm placed former Riyadh Mayor's advisor Abdullah Abudawood at the helm of this push as its new CEO.

FinMin’s May sukuk issuance raises over SAR 2.4 bn

The Finance Ministry wrapped up a SAR 2.42 bn local sukuk offering for May 2026, according to a statement from the National Debt Management Center. The issuance is under the government’s SAR-denominated sukuk program.

The issuance was structured in five tranches: