Closing Bell: Saudi main index edges down 0.34% to close at 10,574

Total trading turnover reached SR3.72 billion ($991 million), with 134 stocks posting gains and 102 declining.
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Updated 23 June 2025
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Closing Bell: Saudi main index edges down 0.34% to close at 10,574

RIYADH: Saudi Arabia’s Tadawul All Share Index edged lower on Sunday, falling 36.44 points, or 0.34 percent, to close at 10,574.27.

Total trading turnover reached SR3.72 billion ($991 million), with 134 stocks posting gains and 102 declining.

The Kingdom’s parallel market, Nomu, also recorded a slight dip, losing 27.14 points, or 0.10 percent, to settle at 26,148.69, as 34 stocks advanced and 39 retreated. Meanwhile, the MSCI Tadawul 30 Index dropped 5.34 points, or 0.39 percent, to finish at 1,361.80.

Alistithmar AREIC Diversified REIT Fund was the best-performing stock of the session, with its share price rising 10 percent to SR8.25. Al Sagr Cooperative Insurance Co. followed with a 9.96 percent increase to SR12.36, while Knowledge Economic City climbed 5.36 percent to close at SR12.98.

On the losing side, Retal Urban Development Co. saw the steepest decline, falling 5.10 percent to SR13.02. Flynas Co. dropped 4.13 percent to SR74.20, and Saudi Chemical Co. declined 3.85 percent to SR6.24.

Shares of Hawiya Identity Auctions began trading on Nomu at SR13 per share. According to a Tadawul statement, the offering comprised 2.4 million shares, with Derayah Financial Co. acting as lead manager.

Gas Arabian Services Co. announced the signing of a joint venture agreement with Italy’s BONOMI Co. to establish a valve manufacturing company in the Kingdom.

The new company will have a capital of SR5 million, with BONOMI holding a 60 percent stake and Gas Arabian Services owning 40 percent.

The Saudi firm will fund its SR2 million share from internal resources. The deal is expected to have a long-term positive financial impact, though it remains subject to regulatory approvals and the fulfillment of conditions outlined in the agreement. Gas Arabian Services shares closed at SR15, up 0.40 percent.

The price range for the offering of the Sports Clubs Co. ranged between SR7 and SR7.5 per share, according to a statement by Saudi Fransi Capital, the financial advisor and bookrunner for the institutional subscription.

The offering includes 34.32 million ordinary shares, representing 30 percent of the company’s capital.


New Murabba seeks contractors for Mukaab Towers fit-outs: MEED

Updated 28 January 2026
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New Murabba seeks contractors for Mukaab Towers fit-outs: MEED

RIYADH: Saudi Arabia’s New Murabba Development Co., a wholly owned subsidiary of the Public Investment Fund, has issued a request for information to gauge the market for modular and offsite fit-out solutions for its flagship Mukaab development, MEED reported on Wednesday.

The RFI was released on Jan. 26, with submissions due by Feb. 11. NMDC has also scheduled a market engagement meeting during the first week of February to discuss potential solutions with prospective contractors.

Sources close to the project told MEED that NMDC is “seeking experienced suppliers and contractors to advise on the feasibility, constraints, and execution strategy for using non-load-bearing modular systems for the four corner towers framing the Mukaab structure.” The feedback gathered from these discussions will be incorporated into later design and procurement decisions.

The four towers — two residential (North and South) and two mixed-use (East and West) — are integral to the Mukaab’s architectural layout. Each tower is expected to rise approximately 375 meters and span over 80 stories. Key modular elements under consideration include bathroom pods, kitchen pods, dressing room modules, panelized steel partition systems, and other offsite-manufactured fit-out solutions.

Early works on the Mukaab were completed last year, with NMDC preparing to award the estimated $1 billion contract for the main raft works. This was highlighted in a presentation by NMDC’s chief project delivery officer on Sept. 9, 2025, during the Future Projects Forum in Riyadh.

Earlier this month, US-based Parsons Corp. was awarded a contract by NMDC to provide design and construction technical support. Parsons will act as the lead design consultant for infrastructure, delivering services covering public buildings, infrastructure, landscaping, and the public realm at New Murabba. The firm will also support the development of the project’s downtown experience, which spans 14 million sq. meters of residential, workplace, and entertainment space.

The Parsons contract follows NMDC’s October 2025 agreements with three other US-based engineering firms for design work across the development. New York-headquartered Kohn Pedersen Fox was appointed to lead early design for the first residential community, while Aecom and Jacobs were selected as lead design consultants for the Mukaab district.

In August 2025, NMDC signed a memorandum of understanding with Falcons Creative Group, another US-based firm, to develop the creative vision and immersive experiences for the Mukaab project. Meanwhile, Beijing-based China Harbour Engineering Co. completed the excavation works for the Mukaab, and UAE-headquartered HSSG Foundation Contracting executed the foundation works.