RIYADH: Qatar’s Public Works Authority tendered 22 building projects worth 4.1 billion riyals ($1.1 billion) in the first quarter of 2023, with plans to award more projects by the end of this year, the authority said in a statement.
This is part of more than 8 billion Qatari riyals that the Gulf state has laid out for various projects in recent months as it upgrades the country’s infrastructure and public buildings.
The authority, also known as Ashghal, said in a statement that six projects worth 1.1 billion riyals have already been awarded, including the construction and development of several buildings.
Qatar also has 10 more projects under implementation with an estimated value of 3 billion riyals. This includes the development of Hamad General Hospital, Madinat Khalifa Health Center, Qatar Sidra Academy and the veterinary laboratory building of the Ministry of Municipality.
“This is in addition to tendering more projects in the third quarter of this year. Ashghal is continuing to complete infrastructure and public buildings projects according to Qatar’s plan,” said Youssef Al-Emadi, director of projects affairs at Ashghal, in the statement.
Qatar is also developing many court projects to upgrade its judicial infrastructure.
This saw Ashghal and the Supreme Judiciary Council launching a design competition, seeking brilliant architectural design ideas for eight new courts, including the Court Complex and the Court of Cassation.
The Court of Cassation project will be spread over a 50,000 sq.meters area in Wadi Al-Sail. The Court Complex in Wadi Al-Banat, on the other hand, will be built on a 100,000 sq. meter area and will house seven courts, including the Criminal Court, the Family Court, the Traffic Court and the Investment and Trade Court.
The complex will also be home to the Civil Court, the Court of First Instance and the Enforcement Court.
Ashghal had also recently invited designs for the main post office building and the land transport customs building in Thumama.
Last month, the public works authority also announced that phase one of the seasonal storage lagoons of the treated sewage effluent plant was 75 percent complete.
Once ready, the project would contribute to maximizing the utilization of renewable water resources and the optimal use of treated wastewater in line with Qatar National Vision 2030 objectives in environmental sustainability.
Qatar’s Ashghal tenders 22 building projects worth $1.1bn in Q1
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Qatar’s Ashghal tenders 22 building projects worth $1.1bn in Q1
Closing Bell: Saudi main market sheds 85 points to finish at 11,098
RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower in the latest session, falling 85.79 points, or 0.77 percent, to finish at 11,098.06.
The MSCI Tadawul 30 Index declined 0.63 percent to close at 1,495.23, while the parallel market index Nomu dropped 0.91 percent to 23,548.56.
Market breadth was firmly negative, with 42 gainers against 218 decliners on the main market. Trading activity saw 226 million shares exchanged, with total turnover reaching SR4.5 billion ($1.19 billion).
Among the session’s gainers, Tourism Enterprise Co. rose 9.40 percent to SR15.02. SHL Finance Co. advanced 4.51 percent to SR16.00, while Almasar Alshamil for Education Co. gained 3.56 percent to SR23.88.
Dar Alarkan Real Estate Development Co. added 3.03 percent to SR19.70, and Banque Saudi Fransi climbed 2.61 percent to SR19.30.
On the losing side, Almasane Alkobra Mining Co. recorded the steepest decline, falling 6.61 percent to SR96.
Al Moammar Information Systems Co. dropped 5.14 percent to SR164.20, while National Company for Learning and Education declined 4.60 percent to SR124.30. Saudi Ceramic Co. slipped 4.14 percent to SR27.30, and Arabian Contracting Services Co. fell 4.12 percent to SR116.50.
On the announcement front, Saudi Telecom Co. announced the distribution of interim cash dividends for the fourth quarter of 2025 in line with its approved dividend policy.
The company will distribute SR2.74 billion, equivalent to SR0.55 per share, to shareholders for the quarter.
The number of shares eligible for dividends stands at approximately 4.99 billion shares. The eligibility date has been set for Feb. 23, with distribution scheduled for March 12.
The company noted that treasury shares are not entitled to dividends and that payments will be made through Riyad Bank via direct transfer to shareholders’ bank accounts. stc shares last traded at SR44.80, unchanged on the session.
Separately, National Environmental Recycling Co., known as Tadweer, reported its annual financial results for the year ended Dec. 31, 2025, posting significant growth in revenue and profit.
Revenue rose 53.5 percent year on year to SR1.24 billion, compared with SR806 million in the previous year. Net profit attributable to shareholders increased 68.4 percent to SR60.9 million, up from SR36.2 million a year earlier, driven by higher sales volumes and operational expansion.
Tadweer shares last traded at SR3.80, up 2.70 percent.
