{"id":83665,"date":"2024-02-21T00:00:00","date_gmt":"2024-02-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/02\/21\/aldrees-opens-six-new-filling-stations-retal-to-manage-new-complex-in-riyadh\/"},"modified":"2024-02-21T00:00:00","modified_gmt":"2024-02-21T00:00:00","slug":"aldrees-opens-six-new-filling-stations-retal-to-manage-new-complex-in-riyadh","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/02\/21\/aldrees-opens-six-new-filling-stations-retal-to-manage-new-complex-in-riyadh\/","title":{"rendered":"Aldrees opens six new filling stations, Retal to manage new complex in Riyadh"},"content":{"rendered":"

ENERGY-<\/p>\n

Aldrees gets six new fuel stations on the road:<\/strong> Fuel retailer Aldrees Petroleum and Transport Services Co. opened six new fuel stations in Riyadh, Madinah, Khamis Mushait, Bisha, Turaif and Sabya throughout February, it said in separate posts on X<\/a>.<\/p>\n

\n

CONSTRUCTION-<\/p>\n

Retal hired as development manager for new complex in Riyadh: <\/strong>Tadawul-listed Retal Urban Development Company was appointed as a development manager by BlomInvest Saudi Arabia\u2019s Business Oasis Fund for a \u201cpremium\u201d complex in Riyadh under a SAR 25 mn contract, it said in a disclosure to Tadawul<\/a> yesterday. The complex, located in Riyadh\u2019s Al Narjes district, will span an area of 40k sqm and be home to offices and showrooms. The contract duration was set at 30 months, which starts upon commencement of construction. <\/p>\n

\n

REAL ESTATE- <\/p>\n

Saudi-Egyptian consortium <\/strong>teams up with AOI to procure building materials for the <\/strong>Kingdom: <\/strong>A consortium that includes local aluminum manufacturer Aluminum Products Company (Alupco), Egypt\u2019s Octa International<\/a> (the business development arm of Dunes Capital Group<\/a> \u2019s Octa Holding<\/a>), and real estate developer City Edge Developments<\/a> has inked an MoU with Egypt\u2019s Arab Organization for Industrialization (AOI)<\/a> to manage the supply chain of USD 1 bn worth of building materials for real estate development projects in the Kingdom, according to a statement<\/a> from the AOI.<\/p>\n

\n

ENERGY-<\/p>\n

National Gypsum Co. <\/strong>expects higher costs due to Aramco\u2019s fuel hike:<\/strong>Tadawul-listed National Gypsum Co. (NGC) expects its sales costs to rise by 10.8%on the back of Aramco\u2019s hike in diesel prices<\/a> in January, it said in a disclosure to Tadawul<\/a> earlier this week. The gypsum manufacturer sees the impact starting from Q1 results, it said, adding that it is \u201cworking to minimize the financial impact of this adjustment on the financial results\u201d.<\/p>\n

Fuel hikes?<\/strong> Aramco has notified in January industrial and petrochemical companies that it is raising the price of diesel 53% to SAR 1.15 per liter this year from SAR 0.75 last year. A number of Tadawul-listed players, including Sabic, said that they expect the price hike to hit their cost of production in 1Q 2024. <\/p>\n

\n

FOOD PRODUCTION-<\/p>\n

Balady Poultry + China\u2019s Famsun to set up USD 7 mn feed production facility: <\/strong>Nomu-listed Balady Poultry signed a USD 7 mn contract with China-based agro-business solutions provider Famsun to establish a new feed production plant in Khamis Mushait, it said in a disclosure to Tadawul<\/a> yesterday. The plant will have three production lines with a capacity of 60 tons per hour. It will also include storage silos for corn feed with a capacity of 20k ton and a 10k ton soybean silo. The new plant comes under Balady Poultry\u2019s strategy to \u201cpromote the poultry farming sector,\u201d it said.<\/p>\n

\n

HAJJ SEASON-<\/p>\n

Pilgrimage sites developer <\/strong>Jabal Omar Development Company has obtained a <\/strong>final permit from the Hajj and Umrah Ministry<\/strong> to provide services to 80k pilgrims overseas, it said in a disclosure to Tadawul<\/a> yesterday. No further details were provided. <\/p>\n

It\u2019s been eventful for Jabal Omar since the start of 2024:<\/strong> It secured last month<\/a> a SAR 1.9 bn murabaha facility from Al Rajhi Bank aimed at accelerating the completion of under-development assets and paying off debt. It also obtained<\/a> in January an operating license from the Tourism Ministry for the second tower of its Jabal Omar Jumeirah hotel.<\/p>\n","protected":false},"excerpt":{"rendered":"

Plus: Saudi-Egyptian consortium to manage USD 1 bn construction materials supply chain for Saudi real estate projects<\/p>\n","protected":false},"author":1,"featured_media":83666,"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":[47,54,1179,1181,2425,10,1182,1180,106,211,476],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-83665","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-aldrees","tag-also-on-our-radar","tag-alupco","tag-balady-poultry","tag-energy","tag-enterpriseam-ksa","tag-food-production","tag-national-gypsum-co","tag-real-estate","tag-retail","tag-retal","wpautop","entry"],"acf":{"mongo_id":"040f5ce2-b15f-4aee-8ae1-1ec2374d10b0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/2005.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Aldrees opens six new filling stations, Retal to manage new complex in Riyadh","related_issue":[83643],"teaser":"Plus: Saudi-Egyptian consortium to manage USD 1 bn construction materials supply chain for Saudi real estate projects","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.28a6331f-0cb2-47fe-8c66-1a2cf6130d51.mp3"},"yoast_head":"\nAldrees opens six new filling stations, Retal to manage new complex in Riyadh - 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