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03/05/2026

Saudi Arabia: Saudi Reinsurance Company “Saudi Re” reported a net profit after Zakat of SAR 46.7 million in the first quarter of 2026, representing a 32% increase compared to SAR 35.4 million in the corresponding period of the previous year. The first quarter results were driven by resilient underwriting and positive investment returns.

Insurance revenue in Q1 2026 recorded a significant 73% year-on-year increase, reaching SAR 560 million. Continued expansion across various lines of business in Saudi Arabia and international markets supported this growth. Gross Written Premiums in Q1 2026 jumped by 37% to SAR 2.38 billion, up from SAR 1.74 billion in the same period last year.

Commenting on the results, Saudi Re CEO Ahmed Al-Jabr, stated: “The strong results achieved in the first quarter reflect Saudi Re’s disciplined underwriting approach and prudent investment strategy. Saudi Re has maintained its balanced business model, focusing on improving net income while expanding the scope of its operations.”

29/04/2026

The Saudi Central Bank (SAMA) licensed “Dufaa Company For financing” to provide consumer finance. This addition brings the total number of finance companies licensed by SAMA to 73.

This decision reflects SAMA’s endeavor to support and enable the finance sector, increase the efficiency of financial transactions, and promote innovative financial solutions for financial inclusion in Saudi Arabia.

SAMA emphasizes the importance of dealing exclusively with authorized financial institutions. To view licensed and permitted financial institutions, visit SAMA's website.

22/04/2026

Riyadh, Saudi Arabia – Ashmore Investment Saudi Arabia, a Capital Market Institution (CMI) licensed by the Saudi Capital Market Authority, operates in advising, arranging, managing investments, and running funds. Through its management of the Education Investment Fund, the firm has completed its second acquisition, reinforcing its long-term commitment to supporting the Kingdom’s education sector in line with Saudi Vision 2030.

The latest deal, known as Project Oasis, includes the acquisition of two schools—Matrix International Schools and Wahat Al Alson School—both offering international curricula in eastern Riyadh, specifically in the Al Salam and Al Manar districts. This move marks a significant step in Ashmore’s strategy to build a leading K–12 education platform in Saudi Arabia, responding to growing demand driven by population trends and supporting national reform goals.

21/04/2026

A flagship Saudi-Egyptian joint venture Paragon Adeer has unveiled Sumou Boulevard, a landmark mixed-use development, and the first flagship investment by Sumou Investment in the Egyptian market.

Strategically located in Mostakbal City, New Cairo, Sumou Boulevard spans over 500,000 sqm, with a total investment of EGP70 billion ($1.35 billion) and projected revenues exceeding EGP 100 billion. The development brings together residential, commercial, hospitality, and retail components within a fully integrated urban ecosystem designed to meet the evolving needs of modern city life.

The project represents a major milestone in Saudi-Egyptian economic collaboration, bringing together Adeer International, the investment arm of Saudi Arabia’s Sumou Holding, and Egypt’s Paragon Developments to deliver a large-scale urban destination in New Cairo.

16/04/2026

MGB, a leading construction, property development and industrialised building system (IBS) precast concrete manufacturer, said it has secured a key contract from leading Saudi developer Roshn for the construction of 75 villas at its mixed-use development Marafy being set up under its Al Arous Development Project.

Located in the north of Jeddah, Marafy will accommodate more than 130,000 residents with a manmade canal at its heart – the first of its kind in Saudi Arabia.

On completion, Marafy's canal, which runs 11km long and 100m wide, will connect and extend the Obhur Creek. This navigable canal is the first to be built in Saudi Arabia, and will be flanked by multiple districts, including Roshn’s Al Arous.

09/04/2026

The Saudi Investment Bank (SAIB) is planning to issue Saudi riyal-denominated Additional Tier 1 (AT1) capital sukuk through a private placement in the Kingdom, as part of its SAR 5 billion sukuk programme.

The issuance is aimed at strengthening the bank’s AT1 capital base and supporting its broader financial and strategic goals.

SAIB holds credit ratings of A2 from Moody’s, A- from Fitch Ratings, and BBB+ from S&P Global Ratings, all with stable outlooks.

The bank has appointed Alistithmar for Financial Securities and Brokerage Company and Al Rajhi Capital as joint lead managers and bookrunners for the potential issuance.

08/04/2026

Riyadh, Saudi Arabia: Aldar Audit Bureau (Grant Thornton Saudi Arabia), a leading professional services firm, today announced a strategic collaboration with AstroLabs, the region’s premier business setup and growth platform, to provide international businesses with a fully integrated pathway to enter and scale in the Kingdom of Saudi Arabia.

The collaboration introduces a “Setup-to-Scale” model that combines AstroLabs’ capabilities in entity setup, compliance, and operational support with Grant Thornton’s expertise in tax, audit, advisory, and local content services.

07/04/2026

Saudi Arabia’s Kingdom Holding Co. (KHC) said its subsidiaries have signed an agreement with Sumou Real Estate Co. to manage the development, marketing and sale of a parcel of land in Riyadh that is expected to generate around SAR 4 billion ($1.06 billion) in total sales.

Under the agreement, Kingdom Real Estate Development Co. and Trade Center Co. appointed Sumou as the exclusive development manager for the 3.07 million square metre plot, the Tadawul-listed KHC said in a bourse statement.

The project will be executed over 36 months, beginning after the masterplans receive approval from the relevant authorities. In a separate bourse disclosure, Sumou said it will receive 6.5% of the total infrastructure development costs and 2.5% of the project sales, along with the brokerage commission paid by the buyers.

01/04/2026

Saudi Arabia’s Advanced Petrochemical Co. said its wholly owned affiliate, Advanced Global Investment Company (AGIC), has entered into definitive agreements with SK Gas Petrochemical Pte. Ltd., an indirect unit of South Korea’s SK Gas Co. Ltd., to execute a strategic share swap.

Under the transaction, SK Gas Petrochemical will acquire AGIC’s 30% stake in SK Advanced Co. Ltd. in South Korea, while AGIC will acquire SK Gas Petrochemical’s 15% stake in Saudi‑based Advanced Polyolefins Industry Company.

The deal also includes a net cash payment of $129.3 million, payable by AGIC to SK Gas Petrochemical reflecting the fair value of the assets exchanged. Advanced Petrochemical said the cash component will be financed entirely through its own financial resources.

31/03/2026

RIYADH — Saudi air defenses successfully intercepted and destroyed seven ballistic missiles aimed at the capital, according to Turki Al-Malki.

He explained that the interceptions occurred in two separate incidents, with four missiles in the first and three in the second, all targeting Riyadh.

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