Live Nation Arabia to manage AlUla’s Maraya Hall

Fabian Toscano, CEO of AlUla Development Co., and President of Live Nation Arabia James Craven. SPA
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Updated 02 August 2024
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Live Nation Arabia to manage AlUla’s Maraya Hall

  • AlUla Development Co. signed a three-year partnership agreement with the entertainment firm
  • The deal will enhance Maraya Hall’s position as a major complex that hosts various events

RIYADH: Concert promotor Live Nation Arabia will manage operations at Maraya Hall in AlUla after a deal was struck with the company responsible for boosting tourism in the area.

The Public Investment Fund-backed AlUla Development Co. signed a three-year partnership agreement with the entertainment firm, the Saudi Press Agency reported. 

The deal will enhance Maraya Hall’s position as a major complex that hosts various events, including concerts, cultural performances, exhibitions, and conferences, according to the report.

This falls in line with AlUla Development Co.’s commitment to preserving and enhancing the cultural and natural heritage of the governorate.

It also aligns with AlUla’s status as an integral part of the tourism objectives driven by Saudi Vision 2030 which is expected to contribute a cumulative SR120 billion ($31 billion) to the Kingdom’s gross domestic product by 2035.

Fabien Toscano, the CEO of AlUla Development Co., said: “We are delighted to partner with Live Nation Arabia to unleash Maraya’s full potential as a hub for world-class entertainment and cultural experiences.”

Toscano added: “This collaboration demonstrates our commitment to showcasing AlUla’s natural beauty and rich heritage to the world. The high-level audio-visual equipment of Maraya Hall, along with Live Nation Arabia’s international operational expertise — from planning to execution — paves the way for unique experiences and new standards of entertainment in the heart of AlUla.”

President of Live Nation Arabia James Craven said he company was “thrilled to partner” with AlUla Development Co. to elevate Maraya into a “world-class entertainment destination.”

Craven added: “This collaboration signifies a fusion of tradition and innovation, promising unforgettable experiences for audiences and artists alike in a venue that uniquely mirrors the rich cultural heritage and natural beauty of AlUla.”

The multi-purpose Maraya Hall includes a state-of-the-art theater, multi-purpose meeting rooms, and indoor and outdoor spaces suitable for various occasions. 

Maraya has hosted major events such as the World Archaeology Summit, the Andy Warhol Art Exhibition, the Hegra Conference for Nobel Laureates, and the opening ceremony of the Tawaf AlUla 2024 event.


Closing Bell: Saudi main index extends gains as market opens wider to foreign investment

Updated 02 February 2026
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Closing Bell: Saudi main index extends gains as market opens wider to foreign investment

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Monday, gaining 153.61 points, or 1.38 percent, to close at 11,321.09.

The total trading turnover of the benchmark index was SR5.85 billion ($1.56 billion), as 207 of the listed stocks advanced, while 55 retreated.

The MSCI Tadawul Index increased, up 21.20 points or 1.41 percent, to close at 1,524.18.

The Kingdom’s parallel market Nomu gained 278.13 points, or 1.17 percent, to close at 24,013.03. This comes as 43 of the listed stocks advanced, while 29 retreated.

The best-performing stock was Saudi Pharmaceutical Industries and Medical Appliances Corp., with its share price surging by 7.26 percent to SR28.94.

Other top performers included Rasan Information Technology Co., which saw its share price rise by 6.51 percent to SR144, and Knowledge Economic City, which saw a 6.25 percent increase to SR13.09.

On the downside, the worst performer of the day was Najran Cement Co., whose share price fell by 2.11 percent to SR6.49.

Almasane Alkobra Mining Co. and Saudi Cable Co. also saw declines, with their shares dropping by 2 percent and 1.88 percent to SR103.10 and SR166.80, respectively.

On the announcement front, Riyad Bank has announced its annual financial results for 2025, with the total income from special commission of financing reaching SR24.1 billion, while net income from special commission of financing amounted to SR12 billion.

In a statement on Tadawul, the bank said: “Net income increased by 11.7 percent mainly due to an increase in total operating income and a decrease in total operating expenses.”

The bank further noted that the rise in total operating income was primarily driven by increased revenue from fees and commissions, trading activities, special commissions, gains on non-trading investments, and other operating sources. This growth was partially tempered by declines in exchange and dividend income.

“Net provision of expected credit losses and other losses decreased by 15.8 percent due to a decrease in impairment charge of credit losses and impairment charge for other financial assets, partially offset by an increase in impairment charge for investments,” it added.

RIBL’s share price closed at SR18.18 on the main market, marking a 1.43 percent increase.