RIYADH: The governor of Saudi Arabia’s General Authority for Military Industries met with various CEOs and leaders of major international companies operating in the military industries sector on the sidelines of the Future Investment Initiative on Thursday.
The meeting was attended by several companies including French defense group Thales, Boeing Defense, Space & Security, General Dynamics Corp., Leonardo SpA and Lockheed Martin.
During the meeting, Ahmed bin Abdul Aziz Al-Ohali discussed strategic directions in the military industries sector in Saudi Arabia.
He also discussed the Kingdom’s investment environment, which is witnessing an unprecedented push to empower local and international investors in light of the objectives of the Vision 2030 reform program to localize military industries in Saudi Arabia.
Al-Ohali highlighted the qualitative opportunities, great potential and unlimited support that the military industries sector enjoys in the Kingdom.
He said it is important for these companies to open headquarters in Saudi Arabia to enhance cooperation in the industrial sector and contribute to technology transfer and job creation.
GAMI governor meets with major defense, security companies at FII
https://arab.news/vefkg
GAMI governor meets with major defense, security companies at FII
- Al-Ohali discussed strategic directions in the military industries sector in Saudi Arabia
- He also highlighted the qualitative opportunities, great potential and unlimited support that the military industries sector enjoys in the Kingdom
Closing Bell: Saudi main index closes in green at 10,552
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Monday, gaining 67.67 points, or 0.65 percent, to close at 10,552.26.
The total trading turnover of the benchmark index was SR3.49 billion ($931.5 million), as 78 of the listed stocks advanced, while 177 retreated.
The MSCI Tadawul Index increased, up 15.15 points, or 1.10 percent, to close at 1,392.59.
The Kingdom’s parallel market Nomu lost 183.55 points, or 0.78 percent, to close at 23,271.1. This comes as 26 of the listed stocks advanced, while 37 retreated.
The best-performing stock was Canadian Medical Center Co., with its share price surging by 6.30 percent to SR6.41.
Other top performers included Saudi Arabian Mining Co., which saw its share price rise by 5.30 percent to SR63.60, and Al Majed Oud Co., which saw a 5.27 percent increase to SR131.90.
Methanol Chemicals Co. posted the biggest decline of the session, with its shares falling 5.98 percent to SR8.17.
Saudi Ground Services Co. saw its shares fall 5.96 percent to SR36, while Alramz Real Estate Co. declined 5.85 percent to SR59.60.
On the announcements front, First Avenue for Real Estate Development said it has acquired full ownership of the Capital Avenue–Al Qirawan Tower in Riyadh for about SR310 million, according to a Tadawul filing.
The acquisition of all partners’ stakes in the Jadwa Capital Avenue Real Estate Fund gives the company full control of the project on King Salman Road. With construction 90 percent complete and final works expected in the first quarter of 2026, the nearly 35,700-sq.-meter tower offers about 15,000 sq. meters of leasable space.
The acquisition, financed through internal resources and bank funding, aligns with the company’s strategy to enhance its portfolio and returns. The transaction is projected to positively impact financial results from the first half of 2027.
First Avenue’s shares traded 0.34 percent lower on the parallel market to reach SR5.88.
