{"id":105357,"date":"2026-01-27T00:00:00","date_gmt":"2026-01-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2026\/01\/27\/acwa-power-dips-its-toes-in-the-philippines-asas-makeen-to-launch-private-real-estate-fund\/"},"modified":"2026-01-27T00:00:00","modified_gmt":"2026-01-27T00:00:00","slug":"acwa-power-dips-its-toes-in-the-philippines-asas-makeen-to-launch-private-real-estate-fund","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2026\/01\/27\/acwa-power-dips-its-toes-in-the-philippines-asas-makeen-to-launch-private-real-estate-fund\/","title":{"rendered":"Acwa Power dips its toes in the Philippines, Asas Makeen to launch private real estate fund"},"content":{"rendered":"

\n

Acwa Power secures Philippines\u2019 New Clark solar project<\/p>\n

<\/strong>Acwa Power is moving into Southeast Asia with plans to develop a large-scale solar and<\/strong> battery storage project in the Philippines<\/strong>, with the firm signing a reservation agreement with the country\u2019s Bases Conversion and Development Authority to explore the project at New Clark City, it said in a statement<\/a> on Sunday. The agreement secures a 500-hectare site for a pre-feasibility study, laying the groundwork for a solar-plus-storage project designed to supply clean power to the industrial special economic zone north of Manila.<\/p>\n

Why it matters: <\/strong>While Acwa Power is already a dominant renewables player across the GCC and Central Asia, the Philippines represents a high-stakes entry into the Southeast Asian market. Demand for renewable power is rising quickly in the region, driven by green industrial zones and data-heavy manufacturing, and is increasingly outpacing the capacity of local utilities.<\/p>\n

\n

Asas Makeen, Al Moajil, Dinar launch SAR 140 mn fund<\/p>\n

Asas Makeen is doubling down on the developer-fund-partner model.<\/strong> Asas<\/a>Makeen Real Estate Development and Investment<\/a> signed a final agreement with Dinar Investment<\/a> and industrial-heavy Abdulaziz & Saad Al Moajil Trading and Investment<\/a> to launch a SAR 140 mn closed-end private real estate fund, according to a disclosure to Tadawul<\/a>. The fund will be managed by Dinar Investment and target residential and commercial assets, marking another step in the developer\u2019s aggressive expansion strategy following its oversubscribed<\/a> Nomu listing.<\/p>\n

\n

Tasnee JV secures Murabaha loan for ethylene expansion<\/p>\n

The Saudi Ethylene<\/strong> and Polyethylene Company (SEPC) secured SAR 1.7 bn in <\/strong>Shariah-compliant Murabaha financing from Bank Albilad<\/strong>, according to a disclosure to Tadawul<\/a>. The 12-year loan, which includes a two-year grace period, is backed by promissory notes and shareholder guarantees. Proceeds will fund the Ethylene Cracker Expansion Project at SEPC. SEPC is a Tasnee Sahara Olefins Company JV of which Tasnee holds a 60% stake.<\/p>\n

\n

Juthor closes pre-seed round<\/p>\n

Homegrown e-commerce startup Juthor raised USD 500k in a pre-seed round<\/strong> led by Flat6Labs, and with participation from angel investors, according to a press release<\/a>. The fresh funds will support the development of scalable infrastructure and faster product rollouts for multi-channel retailers across Saudi Arabia and international markets.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Philippines represents a high-stakes entry into the Southeast Asian market<\/p>\n","protected":false},"author":1,"featured_media":105358,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2564],"tags":[448,54,3830,4478,10],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-105357","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-acwa-power","tag-also-on-our-radar","tag-asas-makeen","tag-dinar-investment-company","tag-enterpriseam-ksa","wpautop","entry"],"acf":{"mongo_id":"f46954bf-79b5-48c2-8d67-aee5a45299f3","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/1612.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Acwa Power dips its toes in the Philippines, Asas Makeen to launch private real estate fund","related_issue":[105342],"teaser":"The Philippines represents a high-stakes entry into the Southeast Asian market"},"yoast_head":"\nAcwa Power dips its toes in the Philippines, Asas Makeen to launch private real estate fund - 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