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Logistics (MENA) 
Diriyah awards USD 2.1 bn Wadi Safar contract
Diriyah is developing the ancestral home of the royal family at a cost of USD 63 bn
Aramco-backed VC fund Wa’ed invests in Korean chipmaker, US AI software outfit
Plus: Rent finance outfit Techmal raises pre-seed capital + UAE’s Orgam to expand here
Four salt ore explorations licenses awarded at Eastern Province
Plus: Built Industrial to undertake HQ expansion of municipalities and housing ministry in the capital
Logistics startup Oto closes a USD 8 mn series A round
The fresh funds will be used to fuel the company’s regional expansion, develop the tech stack, and grow the team
Local capital market set for continued growth in 2H 2024, says HSBC
HSBC advised on over ten major transactions in the market in 1H 2024
Five explorations licenses are now up for grabs for “largest mineralized belts” ever offered to investors
Plus: Sipchem’s net income was down y-o-y in 2Q due to higher feedstock prices
Al Gassim Investment Holding appoints new chairman and CEO
Ahmed Sulaiman Almuzaini will be chairman until 2026
Saudia places big flying taxi order for private aviation arm
Plus: Jadwa takes stake in Tikkawy and Dar Global will build a Trump Tower in Dubai
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