Saudi: Cenomi Centers unveils $2.02mln sale deal
The sale deal aligns with the company's program to sell an identified portfolio of non-core assets worth around SAR 2 billion, according to a bourse filing.
The net book value of this land on the company's financial statements amounted to SAR 93.30 million as of 31 March 2025.
Cenomi Centers will use the proceeds from this transaction to fund and support its internal resources.
The positive financial impact of the transaction is expected to appear in its financial results for the second quarter (Q2) of 2025.
SIMAH Rating Agency (Tassnief) recently assigned a long-term national scale entity rating of (A-) and a short-term entity rating of 'T-3' to Cenomi Centers.
All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Business
2 hours ago
- Arabian Business
Aramco close to $10bn Jafurah infrastructure deal with BlackRock
Saudi Aramco is reported to be close to a deal that will raise around US$10 billion from a group led by BlackRock that will invest in the infrastructure of Aramco's Jafurah gas project. Reuters reported this after speaking with two people with knowledge of the matter, but requested anonymity. The US$100 billion Jafurah project, which could become the largest shale gas project outside the United States upon completion, is central to Aramco's future ambitions and is expected to increase its gas production capacity from 2021 levels by 60 per cent in 2030. The two people said the latest transaction was expected to be similarly structured to two Aramco infrastructure deals in 2021, including one in which BlackRock invested in Aramco's gas pipeline networks, allowing the Saudi company to generate funds. The Jafurah assets underpinning the deal include gas pipelines and a gas processing plant, one of the sources said. In 2021, BlackRock and EIG were among investor groups that took stakes in companies that leased usage rights in Aramco's gas and oil pipeline networks. The groups leased them back to Aramco for a 20-year period in two separate deals, helping the Saudi company to raise nearly US$28 billion. Reuters reported that the agreement would be the latest in a series of financial arrangements, akin to borrowing, that enable Gulf oil-producing countries to raise funds for economic diversification while providing investors with a stable revenue stream. Aramco has long been the biggest source of the kingdom's revenues. Saudi Arabia has been seeking to diversify its economy as oil prices have come under pressure from global economic uncertainty that could further reduce demand.
Khaleej Times
3 hours ago
- Khaleej Times
LuLu launches three LOT stores in Saudi Arabia on a single day
In a significant stride toward retail expansion, LuLu Group has inaugurated three new LOT – The Value concept stores across Saudi Arabia in a single day, with grand openings held in the the holy city of Makkah, Saihat (Eastern Province), and Riyadh. The central launch event took place in Makkah and was graced by the presence of prominent dignitaries and government officials. The Makkah store was officially inaugurated by Dr Waleed Basuliman, general manager of Investment and Partnerships at the Royal Commission for Makkah City and Holy sites, alongside LuLu Group chairman Yusuff Ali M A. The event also witnessed the attendance of key figures including Eng. Yaser Attar, director general of investment and deputy for planning and financial sustainability at Makkah Municipality. Prominent business personalities from Makkah such as Engineer Abdulaziz Al Sindi and Sheikh Ibrahim Al Rifaei also participated in the ceremony. "This expansion reflects our commitment to the Kingdom's Vision 2030 and our goal to offer high-quality, affordable products to all. With LOT, we aim to redefine value retailing by making everyday essentials accessible to everyone without compromising on quality. Four more LOT stores are in the pipeline in the Kingdom," said Yusuff Ali M A. Located on Abdullah Areef Street in the Al Rusafyah District, the new LOT store in Makkah spans 43,000 sq ft and is designed to offer an engaging, budget-friendly shopping experience. It features a broad assortment of household essentials, kitchenware, and fashion for men, women, and children, emphasising both quality and affordability. Ample parking space is available, ensuring convenience for both residents and visitors. These value-focused concept stores offer an impressive range of products at unbeatable prices, with many items priced below 22 Riyals. The initiative is aimed at ensuring every customer has access to high-quality goods across key categories. The Eastern Province outlet, located in Saihat within the LuLu Hypermarket complex on Al Musib Ibn Rafi Street, spans 24,000 sq ft of smart retail space tailored for budget-conscious shoppers. Meanwhile, the Riyadh branch, located in Al Malaz, offers 18,772 sq ft of retail space and comprehensive parking facilities, positioning it as a flagship destination for value shopping in the capital. All three outlets opened with exclusive collections and attractive promotional offers, reinforcing LOT's core mission of providing good-quality products at wallet-friendly prices, catering to the rising demand for affordable yet premium retail experiences. With this strategic expansion, LuLu Group continues to solidify its footprint in the Saudi market, energising the local retail landscape and reaffirming its commitment to delivering value-driven shopping across the Kingdom's key cities.
Tahawul Tech
3 hours ago
- Tahawul Tech
xAI to lease data centre capacity from Saudi Arabia
xAI is in discussions with Humain to lease data centre capacity for its compute-intensive AI models. Bloomberg reported talks are in the early stages, but an arrangement could include several gigawatts of capacity for xAI. Humain is backed Saudi Arabia's Crown Prince Mohammed bin Salman and the Public Investment Fund (PIF). The news agency noted such an arrangement could be years in the making since Humain is yet to break ground on its infrastructure build. Financial Times recently reported xAI was considering a further funding round in which PIF could play a part. Source: Mobile World Live Image Credit: xAI
