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RIYADH: ��������’s Tadawul All Share Index slipped on Tuesday, as it shed 137.97 points, or 1.26 percent, to close at 10,843.20. 

The total trading turnover of the benchmark index was SR4.92 billion ($1.31 billion), with 25 of the listed stocks advancing and 231 declining. 

The Kingdom’s parallel market, Nomu also dropped 340.01 points to close at 26,740.01. 

The MSCI Tadawul Index declined by 1.33 percent to 1,390.20. 

The best-performing stock on the main market was Sport Clubs Co., which debuted on the benchmark index on Tuesday. The firm’s share price advanced by 24 percent to SR9.30. 

The share price of Tourism Enterprise Co. also rose by 6.25 percent to SR1.02. 

Riyadh Cables Group Co. saw its stock price climb by 1.92 percent to SR132.50. 

The share price of Fawaz Abdulaziz Alhokair Co., also known as Cenomi Retail, declined by 5.71 percent to SR29.38. 

On the announcements front, Etihad Etisalat Co., also known as Mobily, announced its net profit for the first half of the year reached SR1.59 billion, representing a 22.94 percent increase compared to the same period in 2024. 

In a Tadawul statement, Mobily attributed the rise in net profit to increased revenues across all business segments and its growing customer base. 

Mobily saw its stock price edge up by 1.90 percent to SR56.25. 

Saudi Automotive Services Co. said its net profit for the first half witnessed a year-on-year rise of 48.64 percent to SR33.98 million. 

According to SASCO, the rise in net profit was driven by a higher number of service stations, strong sales from its SASCO Palm and transportation segments, as well as an increase in the selling prices of diesel. 

The share price of SASCO rose by 1.48 percent to SR55. 

Dar Almajed publishes IPO prospectus 

Dar Almajed Real Estate Co. has published the prospectus for its initial public offering, which will list 90 million shares with a nominal value of SR1 each on the main market. 

The development follows the Kingdom’s Capital Market Authority’s approval for the company to float 30 percent of its SR300 million capital in March. 

The book-building process commenced on June 29 and will conclude on Aug. 4. 

The retail subscription period will run from Aug. 14 to 18. 

The company has appointed Saudi Fransi Capital as financial adviser, lead manager, institutional bookrunner, and underwriter for the IPO.

RIYADH: ��������’s real estate market recorded transactions worth around SR1.2 trillion ($319.8 billion) between July 2023 and July 2025, under the implementation of a new property initiative, according to a recent announcement. 

The figure was revealed by the General Real Estate Authority after the second edition of the Real Estate Brokerage Forum 2025, held at the Riyadh International Convention and Exhibition Center, the Saudi Press Agency reported. 

��������’s real estate sector is transforming under Vision 2030, which aims to raise homeownership to 70 percent by 2030, up from about 63.7 percent in 2023. The plan focuses on expanding mortgage lending, diversifying financing, and doubling mortgage activity through wider bank participation.

Tayseer Al-Mufarrej, general director of strategic communication and official spokesperson for the authority, highlighted the system’s impact during his keynote address, saying that it has led to over 8 million real estate transactions and the licensing of more than 86,000 brokers, alongside the approval of 75 digital platforms that host over 685,000 authorized listings. 

The shift is driven by Vision 2030 and the Real Estate Brokerage Law, introduced in 2022, which aims to professionalize property transactions through standardized contracts, broker licensing, and stricter oversight to boost transparency and protect consumers.

“Al-Mufarrej noted that the system had brought about a fundamental transformation in the structure of the sector by turning brokerage into a licensed profession governed by regulations and defined responsibilities and obligations,” SPA said. 

Within its first year, transactions rose by 17 percent, totaling SR605 billion in deals and prompting the licensing of tens of thousands of individual and corporate brokers, as well as digital platforms.

In the forum’s first panel discussion, titled Legislative Updates and Empowerment Opportunities in the Real Estate Brokerage System, speakers said that the sector now operates within an enabling regulatory framework that supports growth. 

They described the current environment as the most significant regulatory transformation in the sector’s history, aimed at boosting reliability and sustainability. 

A second panel discussion, titled “From Value Creation to Sustainable Sales,” addressed the ongoing urban development in the Kingdom.

Participants praised the governance measures and planning standards that have improved residential neighborhoods and elevated the quality of life. 

The forum, organized by the authority, is part of broader efforts to enhance the real estate business environment, supporting economic growth and aligning with the comprehensive national real estate strategy.