DEBT WATCH-

#1- Riyad Bank is set to issue SAR-denominated additional tier 1 capital sukuk via private placement as part of its SAR 10 bn sukuk program, it said in a filing to Tadawul. The lender tapped Riyadh Capital as sole lead manager for the move, with the final terms and amount set to be determined based on market conditions. The move aims to support the lender’s capital base and support general banking purposes.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

#2- Al Jouf Agricultural Development lined up a SAR 160 mn one-year credit facility from Banque Saudi Fransi, it said in a disclosure to Tadawul. The shariah-compliant funding will be used to support the company’s working capital, refinance letters of credit and fuel the expansion of its french fries factory.

REAL ESTATE-

#1- Dallah Healthcare Company will acquire a 16.8K sqm land in Riyadh under a SAR 195.7 agreement with Wahet Al-Nakheel Real Estate Fund, according to a disclosure to Tadawul. This is part of the SAR 1.2 bn real estate fund that Dallah Healthcare, Dallah Real Estate, Tatweer, and asset management firm are launching. The current capital of the fund stands at SAR 613 mn split equally between all three partners. Aljazira Capital is acting as fund manager.

#2- First Avenue + AWJ plan new real estate fund to develop Le Perle assets: First AvenueforReal Estate Development signed a non-binding letter of intent with AWJ Real Estate Development and Investment Company to establish a real estate fund aimed at acquiring and developing commercial, office, and hospitality projects, according to a disclosure to Tadawul.The fund will target four assets — West La Perle, East La Perle, La Perle Residential Land, and La Perle Hotel Land. First Avenue would own between 40%-50% of the fund. There’s no publicly available information about the size of the fund.

#3- Retal Urban Development is expected to generate SAR 45 mn in investment income from the liquidation of the SAR 470 mn Business Park Fund — which it owns 18.8% of — to an unnamed buyer, it said in a filing to Tadawul. Proceeds from the sale will be used to fuel the company’s expansion.

FINANCIAL SERVICES -

#1- The Saudi Central Bank (Sama) licensed Hiberpay Ink Al-Soudia for IT Systems to offer e-wallet services, it said in a statement. This approval brings the total number of licensed payment service companies in the Kingdom to 27. The Kingdom aims to have 525 fintech companies by 2030, according to the national fintech strategy.

#2- Jarir Marketing inked a non-binding MoU with Cairo-based financial services company Aman Egypt to launch a new consumer finance JV, with an initial capital of SAR 100 mn it said in a disclosure to Tadawul. Jarir is set to own a 49% stake in the proposed entity, with Aman Egypt grabbing 41% and Hamad bin Abdullah bin Suleiman Al Manaya holding the remaining 10%.

MEDIA-

MBC FZ — a unit of MBC Group — landed a SAR 345 mn full-suite service order from ARA International Productions (AIP), under an existing master services agreement between the two, according to a filing to Tadawul. The one-year agreement will see MBC FZ provide AIP with operational and broadcasting support for radio stations, content production, technical services, marketing, brand development, and management for TV channels and digital platforms. MBC Group’s chairman holds a 50% stake in AIP’s parent company.

ALSO- MBC Media KSA — another MBC subsidiary — was contracted by event production company Sela to organize and operate the 2025 Joy Awards scheduled for Saturday, 18 January, in Riyadh, according to a separate filing to the exchange. Sela will cover the costs of the General Entertainment Authority’s flagship event. The value of the Agreement exceeds 10% of MBC Media’s total revenue for the year 2023.

LOGISTICS-

Saudi Ports Authority Mawani added a new shipping service, Milaha (MIX 2) to Dammam’s King Abdulaziz Port, it said in a news release. The new service has a handling capacity of 1.7k standard containers, and connects the port to Iraq and India.

ADVERTISING-

Arabian Contracting was awarded a 10-year SAR 694.3 road advertising contract from the Roads General Authority, according to a disclosure to Tadawul.

Tags: