{"id":94779,"date":"2025-02-26T00:00:00","date_gmt":"2025-02-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/26\/nwc-launches-9-projects-worth-sar-300-mn-in-tabuk\/"},"modified":"2025-02-26T00:00:00","modified_gmt":"2025-02-26T00:00:00","slug":"nwc-launches-9-projects-worth-sar-300-mn-in-tabuk","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/26\/nwc-launches-9-projects-worth-sar-300-mn-in-tabuk\/","title":{"rendered":"NWC launches 9 projects worth SAR 300 mn in Tabuk"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INFRASTRUCTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1-<\/strong><strong> National Water Company (NWC) launched 9 projects worth a combined SAR 300 <\/strong><strong>mn <\/strong><strong>in Tabuk<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/www.nwc.com.sa\/En\/MediaCenter\/News\/Pages\/9projects-inTabuk.aspx\" style=\"\" rel=\"noopener\">statement<\/a>. The projects included:<\/p>\n<ul>\n<li>Three drinking water projects involving 60 km of water networks, worth SAR 62.2 mn;<\/li>\n<li>Two sanitation projects including a lift station expansion and 46.7 km of sewer lines, worth SAR 65 mn;<\/li>\n<li>Two water projects featuring a 21.9 km transmission line and a 5k cubic meter reservoir, as well as a 1k cubic meter purification plant, at a combined ticket of SAR 39.4 mn;<\/li>\n<li>Two projects covering 75.8 km of sewage networks and a 9.6k cubic meter lift station, worth SAR 78.1 mn.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/shalfa.sa\/Default\" style=\"\" rel=\"noopener\">Shalfa Facilities Management Company<\/a><\/strong><strong> secured a SAR 162 mn contract<\/strong> to run operation and maintenance works, cleaning services, and pest control at the Presidency of State Security\u2019s offices in Riyadh, it said in a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=85412&anCat=1&cs=9613&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. The Nomu-listed facilities service provider has agreed to fully manage architectural installations, equipment, electrical, and mechanical services as well as landscape and irrigation works for administrative buildings.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/shurfah.com.sa\/\" style=\"\" rel=\"noopener\">Shurfah Real Estate<\/a><\/strong> <strong> in Riyadh\u2019s Al-Malqa neighborhood<\/strong><strong> sold a 27.7k sqm plot to<\/strong><strong><a target=\"_blank\" href=\"https:\/\/thimarya.sa\/\" style=\"\" rel=\"noopener\">Thimaryah Real Estate Company<\/a><\/strong><strong> for SAR 987 mn<\/strong>, marking one of the largest real estate transactions in Riyadh this year, <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2025\/02\/24\/article_2757592.html\" style=\"\" rel=\"noopener\">Al Eqtisadiah<\/a> reports. The land\u2019s price more than doubled in three years, rising to SAR 34k per sqm from SAR 16k.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">STARTUP WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1-<\/strong><strong>UAE-based Fintech startup <\/strong><strong><a target=\"_blank\" href=\"https:\/\/flow48.com\/\" style=\"\" rel=\"noopener\">Flow48<\/a><\/strong><strong> closed a USD 69 mn series A funding round<\/strong><strong> to expand<\/strong><strong> into Saudi Arabia<\/strong>, in addition to scale further in the UAE and South Africa and expanding its platform and features, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/2\/2416.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. Flow48, co-founded in 2022 by Idriss Al Rifai (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/ialrifai\/?originalSubdomain=ae\" style=\"\" rel=\"noopener\">LinkedIn<\/a>) and Karim Khattar (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/karimkhattar\/overlay\/about-this-profile\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), offers alternative financing solutions for SMEs, using payment data, operational behaviors, and sector insights to convert future revenues into immediate working capital \u2014 without requiring equity dilution or traditional collateral. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Madina<\/strong><strong>h gets a new investor network for early-stage startups: <\/strong><a target=\"_blank\" href=\"https:\/\/www.vms.sa\/\" style=\"\" rel=\"noopener\">VMS<\/a>, <a target=\"_blank\" href=\"https:\/\/www.mcci.org.sa\/\" style=\"\" rel=\"noopener\">Al Madinah Chamber<\/a>, and <a target=\"_blank\" href=\"https:\/\/numuangels.net\/\" style=\"\" rel=\"noopener\">Numu Angels<\/a> have launched the Al Madinah Angels investor network to support early-stage startups in the city by providing capital, strategic partnerships, and mentorship, according to a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2025\/02\/al-madinah-angels-launches-revive-entrepreneurial-scene-city\" style=\"\" rel=\"noopener\">press release<\/a>. The network was launched under the Al Madinah Ventures Initiatives at the Al Madinah Chamber event. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1-<\/strong><strong>Mawani adds Syria service:<\/strong> The Saudi Ports Authority (Mawani) launched Caerus EXS6, a new shipping service to Syria to facilitate the expansion of trade between the two countries, according to a <a target=\"_blank\" href=\"https:\/\/mawani.gov.sa\/article?news=250225\" style=\"\" rel=\"noopener\">statement<\/a>. The new service, with a capacity of 858 standard containers, will call at Jeddah Islamic Port, Turkey\u2019s Iskenderun Port, and Syria\u2019s Latakia Port.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- The King Abdulaziz International Airport in Jeddah now has <\/strong><strong>70 e-gates<\/strong>, as part of an initiative between the General Directorate of Passports, Matarat Holding, and the Saudi Data and Artificial Intelligence Authority, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2268950\" style=\"\" rel=\"noopener\">SPA<\/a> reports. The e-gates are intended to allow passengers to complete their travel procedures independently without human intervention. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">REGULATION WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Capital market institutions will soon be able to enforce close-out netting agreements<\/strong> with greater legal certainty, under fresh <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/2\/2462.pdf\" style=\"\" rel=\"noopener\">rules (pdf)<\/a> by the Capital Market Authority (CMA). Close-out netting is important because it allows financial institutions to offset mutual obligations in the event of default, reducing systemic risk and ensuring financial stability, particularly during bankruptcy proceedings.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> The draft ensures that qualified financial contracts involved in netting agreements remain enforceable during bankruptcy proceedings. It also introduces provisions for cross-border transactions involving capital market institutions in Saudi Arabia, clarifying how financial obligations should be handled. Additionally, the framework strengthens collateral rules by confirming that cash, securities, guarantees, and other credit support remain enforceable, even if a counterparty becomes insolvent.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">M&A WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.saudienaya.com\/\" style=\"\" rel=\"noopener\">Saudi Enaya<\/a><\/strong> <strong> and <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.salama.com.sa\/\" style=\"\" rel=\"noopener\">Salama<\/a><\/strong> <strong> signed a non-binding MoU to consider a potential <\/strong><strong>merger<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=85433&anCat=1&cs=8311&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. Under the agreement, both companies will conduct operational, technical, financial, legal, and actuarial due diligence. If the transaction goes through, one of the companies would fully take over the other in a transaction that would see the buyer issue new shares for the shareholders of the seller. The MoU runs for 12 months, and could be terminated during that period based on specific conditions, read the disclosure.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">EDUCATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Education Ministry is offering up 5k investment projects worth a combined <\/strong><strong>SAR 50<\/strong> <strong>bn<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/x.com\/moe_gov_sa\/status\/1894070558700015708\" style=\"\" rel=\"noopener\">post on X<\/a>. The investment offerings come as the government looks to boost private sector participation in the education sector from to 30% up from the current 17%, <a target=\"_blank\" href=\"https:\/\/www.aleqt.com\/2025\/02\/25\/article_2757611.html\" style=\"\" rel=\"noopener\">Aleqtisadiah<\/a> quotes Education Minister Yousef Al Benyan as saying at the Invest in Education Forum held in Al Ahsa. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS: UAE-based Flow48 closed to expand into Saudi Arabia<\/p>\n","protected":false},"author":1,"featured_media":94780,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","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":[54,10,2149,1742],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-94779","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-enterpriseam-ksa","tag-madinah","tag-national-water-company-nwc","wpautop","entry"],"acf":{"mongo_id":"b51f2e0c-2646-477a-9fef-14295a466d6d","order":"13","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/117.jpg","photo_position":"above","homepage_title":"","full_issue_title":"NWC launches 9 projects worth SAR 300 mn in Tabuk","related_issue":[94755],"teaser":"PLUS: UAE-based Flow48 closed to expand into Saudi Arabia","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.1cacf01b-6e7b-41b5-aa4c-1ba744c47f1c.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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