Between April and June this year, the Average Daily Rate (ADR) rose to $124 (Dh455), reflecting a 7 per cent year-on-year increase. Meanwhile, the Revenue Per Available Room (RevPAR) reached $85 (Dh312),…
Tag: cent
Al Majed for Oud raises $188m from 30 per cent stake sale, IPO at $25 per share
The institutional book-building phase saw an overwhelming demand, with subscriptions oversubscribed by 156.5 times, according to the company’s statement. The retail offering, scheduled for September 15, will include 1.5 million shares, or…
Saudi Arabia sees 20 per cent increase in point-of-sale transactions
The education sector was the only one to see a decline, dropping 38.6 per cent to $137 million (Dh503 million). This decline marks the second consecutive decrease for the sector after four…
PIF generates 8.7 per cent shareholders’ return in 2023
The report shows a 29 per cent increase in assets under management (AuM), reaching $765 billion (Dh2.8 trillion) by the end of 2023, with AuM climbing to $925 billion (Dh3.3 trillion) by…
Al Majed for Oud Company lists 30 per cent stake
The final price for the Initial Public Offering (IPO) will be set following the book-building period, which will take place from August 25 to August 29. On September 15, the company will…
Real Estate Brokerage Law surges Saudi Arabia’s property transactions by 17 per cent
Speaking at the Real Estate Brokerage Forum, Al Hammad highlighted that residential transactions saw an 18 per cent rise to 2.9 million, totalling $81 billion (Dh297.5 billion). Commercial transactions also increased by…
Oman hotel revenues up by 10.2 per cent
It is widely observed that the number of European visitors has rose in the first five months of 2024, which could be a catalyst to the evident rising revenues. According to the…
Oman’s Islamic banks report 13.2 per cent asset growth
During the same period, Shariah-compliant units extended financing totalling $16.3 billion (Dh59.8 bilion), reflecting a 12 per cent annual increase, as reported by the Central Bank of Oman. Deposits in these banks…
Kuwait’s real estate market grows 7 per cent in the first half of 2024
Despite this overall rise in total contract value, there was a noticeable decline in various types of real estate transactions, except for exhibitions and warehouses. Exhibitions saw 4 contracts registered amounting to…
Saudi Arabia’s tourism sector expands by over 32 per cent
In 2023, Saudi Arabia welcomed 100 million tourists, achieving its Vision 2030 target seven years ahead of schedule. The Saudi Vision 2030 is a programme launched by the government in 2016, with…