SPACE-

Brace for Saudi-US space cooperation: Saudi Arabia and the US agreed to work together on the exploration of outer space for peaceful purposes, the Saudi Press Agency reported on Tuesday. The two will look to streamline commercial opportunities in the space industry, exchange expertise, and collaborate on exploration missions to outer space. The two companies gave no timeline or concrete next steps, but talked up their joint commitment to the Artemis accords and their interest in greenifying the industry, according to SPA. You can check out the US State Department’s release here.

SOUND SMART- The Artemis Accords (pdf) are a set of principles and guidelines issued by NASA to promote the sustainable and beneficial use of space. These include exploration for peaceful purposes, transparency and interoperable infrastructure.

M&A-

Olayan in hospitals acquisition: The Olayan family’s Hana Investment is part of a group of investors led by PE firm Fajr Capital that is buying 65% of Indian hospital chain DM Healthcare’s Gulf businesses in a USD 1 bn transaction. The Emirates Investment Authority is also part of the group, Reuters reports.

CEMENT-

Riyadh Cement Co. inks agreement for waste-heat recovery project: Riyadh Cement Co. has inked a USD 34.8 mn agreement with China-based Sinoma Energy Conservation to set up a waste heat recovery project, it said in a disclosure to Tadawul.Sinoma will build a 12.64 MW power plant fired by waste heat, helping Riyadh Cement lower its carbon footprint in the process. The company did not provide further details on the project timeline, but said that the project will be funded by an unnamed local bank.

REAL ESTATE-

#1- PIF-owned Roshn Group has signed an agreement with the Saudi National Bank (SNB) to support housing finance programs for the bank’s employees, Roshn announced on Linkedin on Monday. It also separately signed a MoU with Hong-Kong based Tsangs Group and Hong Kong Ambassadors Club to boost cooperation in technology investments, according to a statement.

#2-Infath will be holding 40 real estate auctions next month: The Entrustment and Liquidation Center (Infath) will be taking bids for 247 residential and commercial properties in 10 regions across the Kingdom between 1-10 December, the Saudi Press Agency reports. Investors can place bids electronically (here) or in person. The privatization sale is part of Crown Prince Mohamed bin Salman’s push to transition to a private-sector-led model of economic growth.

#3-Nomu-listed educational services provider Knowledge Tower bought a 1.1k sqm plot of land in Riyadh’s Malaz neighborhood from Majid Al Ammar, Argaam reports citing a disclosure to Tadawul. The purchase was financed by company resources and is part of its bid to diversify its revenue base.

DIGITAL SOLUTIONS-

MIS awarded SAR 81.6 mn project from the Justice Ministry: Al Moammar Information Systems Co. (MIS), one of the Kingdom’s leading IT companies, has landed an order worth SAR 81.6 mn from the Justice Ministry, the company said in a disclosure to Tadawul yesterday. The project will see MIS provide the ministry with technical support as well as upgrade their information systems and programs. MIS is scheduled to sign the contractual agreement with the ministry on 28 December, according to the disclosure.

MIS is on a roll digitizing the affairs of state: Last week, MIS was awarded a SAR 24.9 mn contract to provide backup solutions to the National Center of Government Resources (NCGR) and expand their storage. It also signed a contract worth SAR 34 mn earlier this month with the Saudi Data & AI Authority (SDAIA) to provide computer systems, programs and technical support.

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