{"id":92376,"date":"2024-12-10T00:00:00","date_gmt":"2024-12-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/10\/al-yamamah-steel-lands-sar-95-mn-steel-supply-contract\/"},"modified":"2024-12-10T00:00:00","modified_gmt":"2024-12-10T00:00:00","slug":"al-yamamah-steel-lands-sar-95-mn-steel-supply-contract","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/10\/al-yamamah-steel-lands-sar-95-mn-steel-supply-contract\/","title":{"rendered":"Al Yamamah Steel lands SAR 95 mn steel supply contract"},"content":{"rendered":"

INFRASTRUCTURE-<\/p>\n

Al Yamamah Steel lands steel supply contract: <\/strong>Al Yamamah<\/a>Steel Industries<\/a> inked a SAR 95 mn contract to supply the National Contracting Company<\/a> with steel towers for its ultra-high voltage powerline in the central region, the steel producer said in a filing to Tadawul<\/a>. The one-year contract is due to take effect in May 2025.<\/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

\n

REAL ESTATE-<\/p>\n

#1- More Trump real estate:<\/strong> Dar Global has partnered<\/a> with the Trump Organization to launch two new luxury real estate projects in Riyadh, though no details were provided on the size, value, and timeline of the developments. (AP<\/a> | Bloomberg<\/a> | Reuters<\/a>) <\/p>\n

Remember-<\/strong> Dar Global, which is the Dubai-based international arm of Saudi real estate developer Dar Al Arkan, and the Trump Organization are preparing to launch a new Jeddah Trump Tower<\/a> this week.<\/p>\n

#2- Stake kicks off operations in the Kingdom: <\/strong>Dubai-based fractional ownership platform Stake<\/a> has officially launched operations in Saudi Arabia, partnering with Al Rajhi Seventh (RJ7) to select \u201can income-generating commercial building located in North Riyadh for its inaugural fund on the platform,\u201d according to a press release<\/a>. In addition, Stake partnered with domestic asset manager Mulkia<\/a> to establish and manage future real estate funds on Stake\u2019s platform.<\/p>\n

About Stake:<\/strong> Stake is the first Capital Market Authority-regulated tool that enables international investors to tap into Saudi real estate through its fractional ownership application (App Store<\/a> | Google Play<\/a>). The company plans to invest some SAR 1 bn<\/a> in the domestic real estate market over the next 6 months.<\/p>\n

\n

EXPANSION- <\/p>\n

#1- UK-based football media company <\/strong>Footballco<\/a><\/strong> opened a new regional headquarters in <\/strong>Riyadh<\/strong>, according to Arab News<\/a>. The company will continue to run its previous regional headquarters in Dubai, but it will \u201cbuild a full-service offering from Riyadh, including local creative- and client-services teams.\u201d Footballco plans to add 20 local employees to the new office staff by the end of 2025.<\/p>\n

#2- London-headquartered mining consultancy <\/strong>CRU<\/a><\/strong> opened its Riyadh office<\/strong> to be led by regional director Zain Ajlouni (LinkedIn<\/a>), according to a press release<\/a>. \u201cEstablishing our new office in Riyadh will allow us to better support the Kingdom and clients to decarbonize mining operations and achieve sustainable long-term growth,\u201d CEO David Trafford said.<\/p>\n

#3- Egypt\u2019s StrategizeIT eyes Saudi and UAE expansion: <\/strong>Digital transformation solutions provider StrategizeIT Egypt<\/a> plans to enter the Saudi and UAE markets next year, CEO Ahmed Maher told Al Mal<\/a>. The company will open a regional office in Saudi Arabia and establish a UAE presence through strategic partners.<\/p>\n

StrategizeIT? <\/strong>The homegrown firm provides integrated GIS, data analytics, and business intelligence solutions for companies and state entities around the region, with 80% of its clients based in the government sector.<\/p>\n

TRANSPORTATION- <\/p>\n

More metro stations open their doors: <\/strong>The Royal Commission for Riyadh City has opened the Interior Ministry and Murabba stations on the Riyadh Metro\u2019s Blue Line, according to a post on X<\/a>. <\/p>\n

PAYMENTS- <\/p>\n

Samsung Pay is officially here<\/strong>: E-wallet and contactless payment service Samsung Pay is now available across the Kingdom, the Saudi Central Bank said in a statement<\/a>. The service was first announced in September<\/a> after the central bank inked an agreement enabling the service. <\/p>\n

\n

AVIATION-<\/p>\n

A new flight route connecting Alexandria to Taif:<\/strong> Emirati Air Arabia\u2019s subsidiary Air Arabia Egypt is launching new weekly flights connecting Taif Regional Airport and Alexandria\u2019s Borg El Arab Airport starting 21 February, according to Travel and Tour World<\/a>. Flights will operate on Thursdays, \u201censuring convenience for weekend travelers and fostering connectivity between Egypt and Saudi Arabia.\u201d<\/p>\n

\n

FINANCIAL SERVICES-<\/p>\n

Gulf Ins. Group has received final approval from the Ins. Authority to promote and <\/strong>sell its Domestic Workers Contract Ins. product in Saudi Arabia<\/strong>, it said in a disclosure to Tadawul<\/a>. The group offers ins. to both individuals and groups.<\/p>\n","protected":false},"excerpt":{"rendered":"

PLUS: Stake kicks off operations in the Kingdom<\/p>\n","protected":false},"author":1,"featured_media":92377,"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":[1863,54,10,66,106,2179],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-92376","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-al-yamamah-steel-industries","tag-also-on-our-radar","tag-enterpriseam-ksa","tag-infrastructure","tag-real-estate","tag-stake","wpautop","entry"],"acf":{"mongo_id":"f28f0907-2c3e-43d6-b26e-33959619cbbd","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/888.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Al Yamamah Steel lands SAR 95 mn steel supply contract","related_issue":[92362],"teaser":"PLUS: Stake kicks off operations in the Kingdom","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.317174a4-570d-417c-aad0-4b4aa5759dd4.mp3"},"yoast_head":"\nAl Yamamah Steel lands SAR 95 mn steel supply contract - 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