{"id":105536,"date":"2026-02-03T00:00:00","date_gmt":"2026-02-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2026\/02\/03\/enaya-shareholders-reject-the-salama-tie-up-sfd-expands-its-industrial-footprint-in-oman\/"},"modified":"2026-02-03T00:00:00","modified_gmt":"2026-02-03T00:00:00","slug":"enaya-shareholders-reject-the-salama-tie-up-sfd-expands-its-industrial-footprint-in-oman","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2026\/02\/03\/enaya-shareholders-reject-the-salama-tie-up-sfd-expands-its-industrial-footprint-in-oman\/","title":{"rendered":"Enaya shareholders reject the Salama tie-up, SFD expands its industrial footprint in Oman"},"content":{"rendered":"

\n

Enaya says no to Salama merger<\/p>\n

Enaya<\/strong> Coopera<\/strong>tive <\/strong>Ins.\u2019s<\/strong> shareholders rejected a proposed merger with Salama <\/strong>Cooperative Ins<\/strong>, Enaya said in a Tadawul disclosure<\/a>. The two insurers inked a binding MoU in August<\/a> to merge Enaya into Salama by issuing 18.9 mn new shares at SAR 10 apiece to Enaya\u2019s shareholders.<\/p>\n

IN CONTEXT-<\/strong> Salama\u2019s shareholders had already approved a 62.98% capital increase<\/a> to SAR 488.9 mn via issuing 18.9 mn new shares last month, based on a swap ratio of 0.8215 Salama shares for each Enaya share.<\/p>\n

Not a first:<\/strong> Enaya has rejected other strategic proposals in recent years, including a merger with United Ins. Company in December 2023<\/a> and a SAR 150 mn capital increase via a rights issue in December 2024<\/a>.<\/p>\n

\n

Saudi gears up for USD 40 mn investment in Omani industrial city<\/p>\n

The <\/strong>Sa<\/a><\/strong>udi Fu<\/a><\/strong>nd for Development<\/a><\/strong> (SFD) will pour USD 40 mn into the establishment of <\/strong>Thumrait Industrial City<\/a><\/strong> in Oman under an MoU with Omani Finance Minister Sultan Al Habsi, state news agency SPA<\/a> reports. The agreement aims to develop the industrial, logistical, developmental, and social sectors in the Dhofar Governorate through the 3.9 mn sqm industrial city.<\/p>\n

IN CONTEXT-<\/strong> The SFD committed to invest SAR 1.2 bn to finance infrastructure development in the Special Economic Zone in Oman\u2019s Ad Dhahirah under an MoU signed in 2023<\/a> with the Omani Finance Ministry.<\/p>\n

\n

Hamad Mohammed Bin Saedan lands development gig in Tuwaiq<\/p>\n

Hamad <\/strong>Mohammed Bin Saedan Real Estate will manage and develop a SAR 17 mn <\/strong>commercial real estate project in Riyadh's Tuwaiq district<\/strong>, it said in a disclosure to Tadawul<\/a>. The firm will take on the design and implementation phases of the project, which are expected to take 18 months. It will receive 10% of the development costs as a development management fee.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n","protected":false},"excerpt":{"rendered":"

Shareholders block the Enaya-Salama merger, marking another rejection for the insurer<\/p>\n","protected":false},"author":1,"featured_media":105537,"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":[54,4316,10,2782,106,4317,1215],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-105536","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-enaya-cooperative-ins","tag-enterpriseam-ksa","tag-oman","tag-real-estate","tag-salama-cooperative-ins","tag-saudi-fund-for-development-sfd","wpautop","entry"],"acf":{"mongo_id":"185058ef-b561-42d0-b08c-0d0edb5a768f","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/573.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Enaya shareholders reject the Salama tie-up, SFD expands its industrial footprint in Oman","related_issue":[105522],"teaser":"Shareholders block the Enaya-Salama merger, marking another rejection for the insurer"},"yoast_head":"\nEnaya shareholders reject the Salama tie-up, SFD expands its industrial footprint in Oman - 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