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 market sheds 85 points to finish at 11,098 

Updated 17 February 2026
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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.