Latest news with #WatheeqCapital
Zawya
a day ago
- Business
- Zawya
Retal to set up real estate fund to build $160mln residential tower in Makkah
Retal Urban Development Company will establish a closed real estate fund to develop a Residential tower within Masar destination in Makkah at the cost of 600 million Saudi riyals ($160 million). The developer has signed a memorandum of understanding with Watheeq Capital to establish the fund, Retal said in a statement to the Saudi stock exchange on Tuesday. The tower will have 28 floors, housing nearly 200 units. Masar development is situated 2.5 km from the Holy Mosque and near the Haramain high-speed rail station in Makkah. The MoU has a duration of 60 days and can be extended mutually. The project is expected to have a positive impact on the company's results from 2026 to 2029, the statement said. Earlier on Tuesday, Umm Al Qura for Development and Construction Company signed a non-binding tripartite memorandum of understanding to set up a SAR1.4 billion ($373.29 million) real estate private fund for developing hospitality, residential, and commercial units on two land plots within the Masar destination. (Editing by Anoop Menon) (
Argaam
a day ago
- Business
- Argaam
Retal, Watheeq Capital sign MoU to launch real estate fund for Makkah residential tower
Retal Urban Development Co. signed on June 30 an MoU with Watheeq Capital to launch a closed-ended REIT fund valued at SAR 600 million to develop a 28-story residential tower within the Masar destination in Makkah. The agreement is valid for 60 days and can be extended once with mutual consent, according to a statement on Tadawul. The project will include around 200 residential units and is located 2.5 km from the Grand Mosque, near the Haramain High-Speed Railway station. Retal expects the development to positively impact its financial results between 2026 and 2029, adding that no related parties are involved in the MoU. Umm Al Qura for Development and Construction Co., owner and operator of the Masar destination, recently sold a 2,359.27 sqm land plot within the project for SAR 145.33 million, excluding taxes and fees. The buyers were Alinma 1st Development Ltd. Co.—a special purpose vehicle (SPV) holding the units of the Alinma Makkah 1st Development Fund, fully owned by Masar—and Watheeq Retal Roya Al-Haram Real Estate Fund managed by Watheeq Capital, according to Argaam 's data.
Argaam
27-05-2025
- Business
- Argaam
Dome extends subscription period to end June 1
Dome International for Investment Co. extended the subscription period on Nomu-Parallel Market to June 1, 2025, financial advisor Watheeq Capital said in a statement to Tadawul. The company published a supplementary prospectus that included an amendment to the offering period, which now spans 10 business days, ending on June 1, 2025. The dates for announcing the final allocation and refunding any excess funds, if applicable, were also amended. IPO Summary After Amendment Issue Percentage 14.53% of post-IPO capital (17% pre-IPO capital) Offered Shares 850,000 Offer Period May 19-June 1, 2025 Final Allocation June 3, 2025 Surplus Refund (if any) June 4, 2025 Qualified investors began subscribing to 850,000 shares of Dome International on the Nomu-Parallel Market on May 19, according to Argaam data. The price was set at SAR 42 per share, and the subscription period was set to run for six business days to end May 26. Dome International has SAR 50 million in capital, divided into five million shares at a par value of SAR 10 each. The company's capital will reach SAR 58.5 million after the IPO, divided into 5.85 million shares.
Argaam
14-05-2025
- Business
- Argaam
Dome prices IPO on Nomu at SAR 42/share
Logo of Dome International Investment Co. Dome International Investment Co. priced its initial public offering (IPO) on the Nomu-Parallel Market at SAR 42 a share, Watheeq Capital, the financial advisor, said in a statement to Tadawul today, May 14.
