DUBAI: Saudi Arabia-based Quara Holding is partnering with Ethereum software firm ConsenSys to bring blockchain technology to the Kingdom's real estate sector.
The Brooklyn-based firm has pioneered the use of digital assets within the real estate industry, enabling clients to use blockchain technology for property investments.
Its partnership with Quara Blockchain will allow both the private and public sectors to benefit from ConsenSys’ software solutions, the pair said.
“Partnering with ConsenSys brings new and innovative blockchain solutions to our clients, while providing Quara Holding with unrivaled development and continuous support in a whole new decentralized landscape,” Quara Holding chief Ziad El Chaar said.
ConsenSys is optimistic about the partnership and its potential to inspire the use of blockchain in the Kingdom.
“As a partner, Quara Holding will have full access to the ConsenSys infrastructure, which is the gateway for a number of exciting opportunities,” the company’s business development lead in the Middle East, Philip Matov, said.
The technology will be used across Quara Holding’s companies, in a number of sectors including real estate, finance, supply chain, government, healthcare, oil and gas, e-commerce and education.
Other countries in the Gulf such as the UAE have been investing in infrastructure to accommodate blockchain technology.
Saudi Arabia’s Quara brings blockchain to real estate deals
https://arab.news/8ubyh
Saudi Arabia’s Quara brings blockchain to real estate deals
- The Brooklyn-based firm has pioneered the use of digital assets within the real estate industry, enabling clients to use blockchain technology for property investments
Closing Bell: Saudi main index rises to close at 10,912
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 93.86 points, or 0.87 percent, to close at 10,912.18.
The total trading turnover of the benchmark index stood at SR3.03 billion ($809 million), with 230 stocks advancing and 29 declining.
The Kingdom’s parallel market Nomu also gained 29.13 points, or 0.12 percent, to close at 23,442.91, as 43 stocks advanced and 25 retreated.
The MSCI Tadawul Index added 9.48 points, or 0.65 percent, to end the session at 1,466.52.
Arabian Shield Cooperative Insurance Co. was the best-performing stock of the day, with its share price surging 8.55 percent to SR11.94.
Other top performers included CHUBB Arabia Cooperative Insurance Co., which rose 6.33 percent to SR23.50, and BAAN Holding Group Co., whose shares climbed 6.06 percent to SR2.10.
United International Holding Co. recorded the steepest decline, falling 2.34 percent to SR146.20.
SEDCO Capital REIT Fund also saw its share price drop 2.17 percent to SR6.77, while Saudi Manpower Solutions Co. declined 1.58 percent to SR5.60.
On the corporate front, Saudi Electricity Co. announced the completion of a US dollar-denominated senior unsecured sukuk issuance under its international sukuk program, offered to eligible investors in Saudi Arabia and globally.
According to a Tadawul statement, the company completed the issuance of a three-tranche sukuk with maturities of three, six and 10 years, raising an aggregate $2.4 billion. The sukuk will be listed on the London Stock Exchange’s International Securities Market.
Saudi Electricity Co. closed the session at SR14.09, down 0.57 percent.
Najran Cement Co. said it has secured a mid-term, Shariah-compliant loan of SR50 million from Saudi National Bank to support subsidiary expansion. A bourse filing said the financing will be repaid over five years in semi-annual instalments, with a six-month grace period.
Najran Cement Co. ended the session at SR6.59, up 0.92 percent.
Almarai Co. announced its consolidated financial results for the year ended Dec. 31, 2025, reporting a net profit of SR2.45 billion, up 6.2 percent year on year.
According to a Tadawul statement, the increase was driven by higher revenue growth, disciplined cost control, an improved revenue mix and lower funding costs.
Almarai Co. closed at SR43.60, up 0.97 percent.
