\n
M&A WATCH-<\/p>\n
#1- Tihama Advertising to take over Dan Diamond Real Estate:<\/strong> Tihama Advertising, Public Relations and Marketing signed an agreement to acquire Dan Diamond Real Estate Development and Investment for an estimated SAR 90.7 mn, according to a disclosure to Tadawul<\/a>. The agreement includes a 181.4k sqm land plot in Al Kharj\u2019s Al Khalidiyah district, which is planned for future commercial and residential development.<\/p>\n What\u2019s next? <\/strong>Tihama has 60 days to review Dan\u2019s documents and assets, during which it can cancel the acquisition without penalty. The purchase will be financed through company funds, bank loans, or partnerships with real estate development funds, with completion dependent on meeting contractual terms and obtaining regulatory approvals.<\/p>\n \n #2- <\/strong>Alinma Capital acquired a controlling stake in Saudi Hala Petroleum Service<\/strong>s, the operator of Go Station fuel retail brand, through its recently-launched private close-ended energy fund, according to a statement<\/a>. No further information was disclosed. Hala was founded in 2017, and it launched Go Station two years later, the statement read. Go Station now has 100 outlets nationwide.<\/p>\n The pitch:<\/strong> The backing gives Hala momentum to push ahead with expansion, gear up for a potential listing on main market Tadawul, and pursue M&A opportunities in the sector, said Esam Alnahdi, Hala\u2019s chairman and group managing editor.<\/p>\n \n #3- <\/strong>Thimar Develo<\/a><\/strong>pment Holding<\/a><\/strong> terminated a non-binding MoU to acquire up to 50% of<\/strong> livestock trader <\/strong>Madar Al Khair Trading<\/a><\/strong>, after failing to reach an agreement, it said in a Tadawul disclosure<\/a> yesterday. Thimar incurred some SAR 300k for financial consultancy since signing the MoU last August<\/a>.<\/p>\n ICYMI- <\/strong>Last month<\/a>, Thimar also terminated its agreement with Makkah-based livestock operator Jiyad Al Ezz to create a SAR 100 mn private equity fund in exchange for acquiring a 70% stake in Jiyad Al Ezz, with the termination reason remaining undisclosed.<\/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 INFRASTRUCTURE-<\/p>\n Solar panel maker <\/strong>Desert Technologies and AlKhorayef Industries have partnered to<\/strong> deliver smart infrastructure solutions in the Kingdom<\/strong>, according to a statement<\/a>. The partnership sets a framework for joint commercial projects, technology integration, and resource sharing to bring new products and services to market.<\/p>\n \n FINANCE-<\/p>\n The Industry and<\/strong> Mineral Resources Ministry has partnered with Dinar Investment<\/strong> Company to expand financing options for Saudi industrial facilities<\/strong>, state news agency SPA<\/a> reports. Under the agreement, Dinar will provide working capital and expansion funding through its crowdfunding platform, while the ministry will connect the firm with factories to drive sector growth.<\/p>\n \n OIL + GAS-<\/p>\n Arabian Drilling extends SLB contracts:<\/strong> Arabian Drilling inked a one-year extension covering all 11 of its gas land rigs under lump-sum turnkey (LSTK) contracts with SLB, according to a press release (pdf)<\/a>. The contracts\u2019 total value is equal to 15-20% of the company\u2019s 2024 revenues, which amounts to SAR 542.8k-723.8k, according to our math.<\/p>\n The agreement follows the company\u2019s renewal of six rigs in 2Q<\/strong>, which secured backlog intake exceeding SAR 2.4 bn. With this agreement, the company has only two rigs left to renew out of a total of 24 contracts due for renewal this year.<\/p>\n SOUND SMART- <\/strong>An LSTK contract is a fixed-price agreement used in construction and engineering projects, where the contractor is responsible for both designing and building the facility to deliver a fully operational project upon completion.<\/p>\n \n REAL ESTATE-<\/p>\n Umm Al Qura sells Masar plot for SAR 145.1 mn:<\/strong> Umm Al Qura for Development and<\/a>Construction<\/a> sold a 2.7k sqm land plot in Makkah\u2019s Masar Destination to Jazeel Al Bina\u2019a Company for SAR 145.1 mn, it said in a disclosure to Tadawul<\/a> yesterday. The buyer, an SPV for a real estate fund managed by Sedco Capital, will use the land \u2014 with a book value of SAR 76.5 mn \u2014 to build a residential tower.<\/p>\n ICYMI-<\/strong> Umm Al Qura sold five land plots in Masar Destination in late July<\/a> for over SAR 1.6 bn to Saqeefat Al Asima, an affiliate of Mohammad Abdul Aziz Al Habib and Partners Real Estate Company. Since mid-June<\/a>, the company has sold a combined 13k sqm of land for over SAR 891 mn across four separate transactions.<\/p>\n \n SPORTS-<\/p>\n Thmanyah partner<\/strong>ed with <\/strong>stc Group<\/a><\/strong> as the main sponsor for broadcasting Saudi football<\/strong> tournaments<\/strong>, along with digital bank D360<\/a> as its exclusive financial partner. The announcement cements the support for Thmanyah\u2019s exclusive six-season rights to air local competitions through 2031, which were acquired in June<\/a>, including Roshen Saudi League, the Custodian of the Two Holy Mosques Cup, the Saudi Super Cup, and the Yellow Professional League.<\/p>\n \n FOOD-<\/p>\n Chop, chop<\/strong>:<\/strong> Alkhaleej Training and Education Company<\/a> inked a SAR 2.8 mn agreement with Gordon Ramsay Holdings International<\/a> to set up and operate branches of Gordon Ramsay Academy<\/a> for culinary arts in Riyadh, Jeddah, and Khobar, it said in a Tadawul disclosure<\/a> last Wednesday. <\/p>\n The details:<\/strong> The extendable 10-year agreement tasks Alkhaleej with providing operational, culinary, and marketing support, including trademark rights and staff training. The Riyadh branch is slated for inauguration by year-end, Time Out Riyadh<\/a> reported yesterday.<\/p>\n GAMING-<\/p>\n Local gaming accelerator Exel by M<\/strong>erak debuted 17 startups on its first Demo Day<\/strong>, chosen from over 300 global applicants, according to a press release<\/a>. Each startup received USD 300k in investment along with mentorship and industry support. The event, attended by investors and publishers, featured studios presenting original IP inspired by local stories and built for international markets. The event was backed by Merak Capital\u2019s USD 80 mn Gaming Fund with support from the National Development Fund and the Social Development Bank.<\/p>\n Meet the startup<\/strong>s: <\/strong>Copa Fantasy<\/a>, Twenty Ninety Creative<\/a>, Symmetric Studio<\/a>, DaFluffs Games<\/a>, Sheba Joy<\/a>, Superbullet Studios<\/a>, AstraValle<\/a>, FitNot Games<\/a>, Evolite Studio<\/a>, Rojeh M. (LinkedIn<\/a>), HYS Games<\/a>, Liva Interactive<\/a>, Eshi Games<\/a>, Hyena Hon<\/a>, Dreaming Door Studios<\/a>, Classy Games<\/a>, and Phys (LinkedIn<\/a>).<\/p>\n","protected":false},"excerpt":{"rendered":" ALSO- Umm Al Qura sold a 2.7k sqm land plot for SAR 145.1 mn within Makkah\u2019s Masar Destination to Jazeel Al Bina\u2019a Company<\/p>\n","protected":false},"author":1,"featured_media":99772,"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":[54,10,24,3952,14,1318,106,3074,3872,680,1588,2261,4411],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-99771","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-food","tag-jubail-chemical-industries-jana","tag-ma-watch","tag-nama-chemicals","tag-real-estate","tag-saudi-industrial-export-company-sadirat","tag-srmg","tag-telecoms","tag-thmanyah","tag-tihama-advertising-and-public-relations","tag-umm-al-qura-for-development-and-construction-company","wpautop","entry"],"acf":{"mongo_id":"e4c3096e-e773-47fd-9fd5-af75c56cef28","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/20.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Tihama to acquire Dan Diamond Real Estate for an estimated SAR 90.7 mn","related_issue":[99756],"teaser":"ALSO- Umm Al Qura sold a 2.7k sqm land plot for SAR 145.1 mn within Makkah\u2019s Masar Destination to Jazeel Al Bina\u2019a Company","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/8\/.389fdd9c-2a72-4580-80f6-42be2ab7c44d.mp3"},"yoast_head":"\n
\n
\n