OPEC Fund finances two 500MW wind farms in Uzbekistan

The OPEC Fund for International Development (OPEC Fund) and Saudi-based utility project developer Acwa Power have entered into two loan agreements worth...

Financial

Moody’s affirms A1 issuer rating for PIF

Moody's Investors Service has maintained the long- and short-term issuer ratings of Saudi Real Estate Refinance Company (SRC) at 'A2/P-1' and changed...

Financial

Emaar Properties approves $598mn cash dividends

Leading UAE developer Emaar Properties has announced that its Board has approved the distribution of cash dividends worth US $598mn to its...

Financial

Arada successfully closes $50mn second tap of sukuk

Sharjah-based developer Arada has successfully closed a $50mn second tap of its existing $450mn sukuk, which was issued last June and listed...

Financial

PIF raises US $5.5bn with second green bond

Saudi Arabia’s Public Investment Fund (PIF) has completed its second green bond issuance, which raised US $5.5bn to finance or refinance its...

Financial

GFH acquires majority stake in healthcare real estate asset manager, Big Sky

Bahrain-based GFH Financial Group has acquired a majority stake in Big Sky Asset Management, a US-based real estate asset manager focused on...

Financial

Saudi Arabia’s PIF and BlackRock sign MoU to jointly explore Middle East infrastructure projects

Saudi Arabia’s Public Investment Fund (PIF) has signed a non-binding Memorandum of Understanding with global investment company BlackRock to anchor the latter’s...

Financial

Emaar Development records highest-ever property sales of $6.31bn in first three quarters of 2022

Developer Emaar Development has said that it has achieved its highest-ever property sales during the first nine months (January to September) of...

Financial

Dubai Investments enjoys 227% growth in net profit

Dubai Investments PJSC has reported net profit of $406mn for the period ended 30 September 2022, an increase of 227%, as compared...

Financial

JODC registers 407% increase in revenue in Q3 2022

Saudi-based developer Jabal Omar Development Company (JODC), the master developer of the massive Jabal Omar mixed-use project in Makkah, has announced its...