Dar wa Emaar launches new residential project ‘Saraya Al-Ruba’

Updated 6 min 24 sec ago

October 28, 2025 12:38

With the launch of its latest project, Saraya Al-Ruba in East Riyadh, Dar wa Emaar continues to reinforce its standing as one of the Kingdom’s leading real estate developers. The project, developed in partnership with National Housing Company, comprises 1,155 residential units designed with contemporary architecture and integrated facilities, including private gardens, green spaces, retail centers, hospitals, and mosques. Well-planned road networks and pedestrian pathways ensure residents enjoy a safe and complete living environment.

The project witnessed exceptional demand, recording 25 percent bookings and sales within just 48 hours of its launch, a clear reflection of the market’s trust in Dar wa Emaar’s vision and the rising demand for contemporary, community-driven living in the Kingdom.

Amr Elfeky, executive director of development and investment at Dar wa Emaar, said: “Saraya Al-Ruba reflects Dar wa Emaar’s commitment to delivering advanced real estate solutions that balance quality with long-term value. It has been our vision to build integrated communities that set new benchmarks for modern urban planning in the Kingdom, and at the same time supporting the sustainable growth objectives of the housing sector.”

The project is further supported by flexible financing options, including a reduced installment program starting at SR400 ($106.6) per month over a period of up to 36 months. This scheme is available across all Dar wa Emaar projects approved by NHC under the off-plan sales program, making homeownership more accessible to a wider segment of Saudi families.

Elfeky added: “Over 18 years of experience has given us the insight to understand that today’s homebuyers are looking for more than just a house. They seek a home, complete with vibrant communities, financial accessibility, and a sense of long-term security. That is why we invest in solutions that deliver a high quality of life at a cost-effective price.”

Saraya Al-Ruba is part of the wider “Saraya” portfolio of projects that Dar wa Emaar has developed across the Kingdom. Since its establishment in 2007, the company has delivered thousands of residential units, reaffirming its commitment to building high-quality, sustainable communities that deliver long-term value for homeowners.

“At Dar wa Emaar, our ambition is to play a central role in shaping the Kingdom’s modern urban landscape. By integrating innovation, long-term value, and customer-centric planning, we aim to build communities that reflect both the aspirations of Saudi families and the wider objectives of Vision 2030,” Elfeky said.

Gas power’s central — and evolving — role in ��’s energy future

Updated 32 sec ago

October 28, 2025 12:32

Gas power’s central — and evolving — role in ��’s energy future

Updated 32 sec ago

October 28, 2025 12:32

��’s energy story is moving fast. Ambitious renewable targets sit alongside an immediate need for reliable, dispatchable power — and gas power sits squarely at the intersection of those two priorities. The Kingdom has committed to sourcing half of its power from renewables by 2030, a transformation that requires not only solar and wind build-out but also a modern, flexible gas fleet to balance intermittent generation and secure dependable energy supply during the transition.

What this means in practice is that gas power is not a stopgap; it is an enabling technology. Highly efficient, flexible, hydrogen-capable gas turbines and advanced grid solutions allow Saudi utilities to integrate large volumes of renewables without compromising reliability. GE Vernova is proud to be part of that enabling layer — delivering both equipment and the services, digital tools and local capability that turn strategy into sustained, operating reality. Recent project activity and collaborations in the Kingdom illustrate that point.

Across the Kingdom we are seeing large combined-cycle projects designed to add firm capacity while allowing rapid renewable scale-up. For example, GE Vernova has secured multiple H-class gas turbine orders to expand capacity at key projects such as Qurayyah IPP, where our 7HA.03 and 7HA.02 turbines will play a major role in providing efficient and flexible generation. These H-class units are among the most efficient and flexible heavy-duty turbines available today — a critical attribute as operators ramp up the share of renewables.

On the ground, our Saudi teams — including GESAT — are delivering complex hardware and modules at pace. Recently, our GESAT operation supplied accessory modules for the Hajr power plant expansion and rolled out the first HA.03 turbine locally for the region, a milestone that demonstrates both technical capability and maturation of the local supply chain. Local execution of outages and maintenance is also evolving: Saudi engineers and GE Vernova specialists completed a fully Saudi-led gas turbine outage at an SEC plant, showing that knowledge transfer is taking root.

Achieving Vision 2030’s goals will depend on local skills, local industry and institutional collaboration across public and private sectors. That’s why our investments in localization — through GESAT, GEMTEC and the MENA Decarbonization Center of Excellence — matter. These facilities are more than technology work benches: they are training grounds and research and development hubs for innovation in the Kingdom. The Decarbonization CoE in particular accelerates applied research and the piloting of low-carbon technologies suited to the region’s needs.

Complementing capability building, strategic agreements and MoUs signed with Saudi stakeholders over the past months have created frameworks for joint projects, local content development and long-term collaboration. These commitments — supported by large equipment orders, local deliveries, and joint forums we convene — strengthen the ecosystem needed to meet both capacity and decarbonization goals.

Looking ahead, the pathway to 2030 is clear in one respect: renewables will scale aggressively, and gas will remain the firming backbone that keeps the lights on while emissions fall. Our approach is pragmatic and multi-pronged: supply our highest-efficiency, hydrogen-ready turbines; expand local manufacturing and services so projects are delivered faster and sustain long lifecycles; and work with customers on retrofit, digital and decarbonization solutions — including carbon capture readiness and hydrogen blending where appropriate.

For industry leaders, policymakers and investors, the focus should be on integrated planning: aligning generation procurement, grid upgrades, local skill pipelines and financing to de-risk the transition. GE Vernova’s role is to bring proven technology, deep project experience and local teams that can execute at scale — helping �� achieve a resilient, affordable and lower-carbon power system by 2030 and set the foundation for net-zero ambitions thereafter.

In the end, success will be measured by megawatts delivered reliably, jobs created locally, and measurable reductions in carbon intensity. We are committed to playing our part — through advanced equipment, localized manufacturing and collaborations that turn national ambition into real, sustained progress.

The writer, Hisham Al-Bahkali, is president of GE Vernova ��.

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GIB Capital completes $4.25bn debt issuances

Updated 28 October 2025

October 28, 2025 09:23

GIB Capital completes $4.25bn debt issuances

Updated 28 October 2025

October 28, 2025 09:23

GIB Capital announced the successful closing of four landmark regional transactions, reinforcing its position as a leading investment bank and debt capital markets arranger in the GCC.

GIB Capital acted as joint lead manager and bookrunner for Bahrain’s $2.5 billion dual-tranche issuance, comprising a $1.5 billion long eight-year sukuk and a $1 billion 12-year conventional bond. The issuance marked Bahrain’s second sovereign offering of 2025 and attracted orders exceeding $8.5 billion, demonstrating global investor appetite for the Kingdom’s credit.

In Oman, GIB Capital served as joint lead manager and bookrunner for Bank Muscat’s $750 million five-year bond. The issuance, the first out of Oman this year, drew robust demand of approximately $2.3 billion, reflecting investor confidence in the bank’s strong fundamentals and market leadership in Oman.

GIB Capital also acted as joint lead manager and bookrunner for the Islamic Corporation for the Development of the Private Sector, a member of the Islamic Development Bank Group, on its $500 million five-year sukuk. The transaction was more than four times oversubscribed, with total orders exceeding $2 billion, highlighting sustained investor confidence in ICD-PS’s credit strength and development mandate.

In the UAE, GIB Capital participated as joint lead manager and bookrunner for Majid Al-Futtaim’s 10-year senior sukuk. The transaction attracted $2 billion in orders and marked Majid Al-Futtaim’s return to international debt capital markets since May 2023.

Osamah Shaker, CEO of GIB Capital, said: “These successful transactions reflect GIB Capital’s deep market expertise, strong distribution platform, and commitment to supporting leading regional issuers in accessing global investors. We are proud to have contributed to these landmark issuances, which continue to advance the depth and sophistication of regional capital markets.”

GIB Capital has been providing a range of innovative and customized financial and investment banking products and solutions, including debt capital markets, capital markets advisory, mergers and acquisitions, debt advisory, asset management, and brokerage services. The firm’s products and services are fully aligned with both regional and best practices.

Jeeny to enhance urban and pilgrim mobility in Madinah

Updated 27 October 2025

October 27, 2025 11:24

Jeeny to enhance urban and pilgrim mobility in Madinah

Updated 27 October 2025

October 27, 2025 11:24

Jeeny, a smart mobility platform in the region, has announced a landmark strategic partnership with the Madinah Development Authority, in coordination with the Pilgrim Experience Program.
This collaboration establishes a crucial framework for integrating Jeeny’s services with the rapidly expanding Madinah Bus Network, setting a new digital standard for urban and pilgrim transit in one of the world’s most sacred cities.
The partnership is a decisive step toward creating a seamless and connected urban transport ecosystem, enhancing the efficiency, accessibility, and sustainability of mobility across Madinah. It directly addresses the complex challenge of managing mass passenger flow, particularly during peak pilgrimage seasons.
At its core, this partnership focuses on three critical, high-impact objectives:

Digital first- and last-mile connectivity: Providing reliable, on-demand transport to and from public bus stations, effectively solving the notorious “last-mile” barrier to public transit adoption.
Accelerating smart urban mobility: Deploying integrated technology solutions that optimize travel for millions of residents, visitors, and the rapidly growing number of pilgrims.
Building a unified transit ecosystem: Establishing a digital backbone for the city’s transport network, ensuring effective integration between Jeeny’s private transport offerings and the Madinah Bus Network infrastructure.

Driven by surging public transport, this integration addresses the growing need for smarter mobility. In 2024, the Madinah Bus services recorded more than 1.72 million passengers. With significant infrastructure expansion underway, including new routes and stations, this ridership is projected to increase by a massive 30 percent in 2025.
Crucially, this seamless access is vital during high-demand periods like the holy month of Ramadan and the Hajj season, when access to the central area is strictly controlled and reserved for public and designated shuttle buses, restricting small private vehicle entry. The Jeeny-MDA solution ensures reliable, complementary transport where it is needed most.
To further strengthen the partnership’s impact, Jeeny will offer up to 20 percent off eligible rides to and from bus stations during the first month, followed by a continuous 10 percent discount for the duration of the agreement. Users can access this benefit directly through the Madinah Bus app via an interactive banner featuring a deep link. This technology automatically launches the Jeeny app with the promotion code applied, ensuring zero friction in the user journey. The offer is valid for rides starting or ending within a 2 km radius of any bus station.
Set to officially launch on Nov. 1, this integrated service marks a new chapter in Jeeny’s partnership with the MDA. The launch builds on the success of the Eid Al-Adha campaign, where thousands of users relied on Jeeny to support pilgrim mobility, demonstrating the scalability and real-world impact of this public–private collaboration.
Aligned with Saudi Vision 2030, the partnership sets a new benchmark for collaboration between government and private sectors, advancing the national goals of improving quality of life, enabling digital transformation, and developing world-class transport infrastructure that puts residents and pilgrims at the center.

Unlocking the Potential of CCUS: From Concept to Scalable Reality

Updated 27 October 2025

October 27, 2025 08:58

Unlocking the Potential of CCUS: From Concept to Scalable Reality

Updated 27 October 2025

October 27, 2025 08:58

The Middle East stands at the forefront of a global energy transition, poised to leverage its unique strengths and innovative spirit to lead the charge towards a sustainable future. As �� continues to execute upon its ambitious Vision 2030 and 2060 net-zero targets, the conversation around decarbonisation often centres predominantly on the visible deployment of solar farms and wind turbines.

Complementing these efforts, for KSA’s heavy industries – key drivers of its economic diversification and future prosperity – another powerful and often less-understood solution is emerging as a critical stimulus for its energy transition: Carbon Capture, Utilisation, and Storage (CCUS). This sophisticated technology, designed to capture carbon dioxide emissions before they enter the atmosphere, is far more than just another climate tool; it is rapidly becoming an indispensable bridge between maintaining vital industrial capacity and achieving sustainable energy production at scale, particularly for the broader GCC's collective net-zero ambitions.

Industries such as aluminum, steel, cement production, and natural gas-based power generation are absolutely vital to ��'s economy, underpinning its industrial base and export capabilities. As these foundational sectors evolve towards net-zero, addressing their CO₂ emissions becomes a necessary next step, where CCUS offers a powerful solution. Crucially, many of these emissions are process-based, meaning they are an unavoidable byproduct of chemical reactions within the industrial process itself, and thus cannot be abated through electrification alone.

These heavy sectors require a continuous, high-volume energy supply that can only be ensured at scale by a complementary – and more and more decarbonized - energy mix, in which renewables play an ever-growing role alongside gas-fired generation.” This is precisely why CCUS offer a direct and pragmatic pathway to abate emissions from these "hard-to-abate" sectors. By integrating CCUS, these industries can ensure their continued operation and substantial contribution to the economy without compromising ambitious environmental targets.

The urgency of this imperative is starkly underscored by global figures: while current operational CCUS capacity worldwide stands at a mere 50 million tonnes per annum (Mtpa), an astounding 7.6 billion tonnes of CO₂ annually by 2050 to align with net-zero pathways — meaning global CCUS deployment must increase by more than 150 times its current scale within just 25 years.

The technical foundations of CCUS are robust and well-established, encompassing various methods from capturing CO₂ directly at industrial sources (post-combustion, pre-combustion, and oxy-combustion for power sector retrofits) to even extracting it directly from the ambient air through Direct Air Capture (DAC). Once captured, the CO₂ is either utilised in industrial processes or permanently stored in secure geological formations.

What is critically needed now is widespread deployment, particularly in regions like the Middle East, which boast immense natural advantages. The region possesses vast storage potential in deep saline aquifers, identified as the primary target for long-term CO₂ storage, as well as in depleted oil and gas fields with Enhanced Oil Recovery (EOR) system.

The geographical proximity within the Gulf offers significant cross-border potential, laying a strong foundation for regional CCUS corridors. Transport options extend beyond pipelines to include shipping liquefied CO₂ for smaller volumes or cross-border transfers, and even the potential for repurposing existing natural gas pipelines, albeit with careful technical considerations.

In many hard-to-abate sectors, such as cement and fertiliser production, CCUS is not merely an option but often the only large-scale decarbonisation solution available. Economically, CCUS can even prove more cost-effective than full electrification or fuel-switching in specific contexts, such as gas-fired power generation versus hydrogen turbines.

Capture costs can range from an efficient $15–40/tCO₂ for high-purity industrial streams to $60–120/tCO, demonstrating its economic viability in targeted applications. This strategic positioning allows �� to go beyond being an energy producer, transforming into a leader in the production of low-carbon goods, thereby creating new economic avenues and skilled jobs within the Kingdom. It also offers a pragmatic pathway to repurpose existing energy infrastructure and leverage existing expertise, supporting a just transition for the workforce and local communities.

Looking ahead, the journey towards a sustainable future in �� and the broader GCC is one of immense potential. By fostering collaboration and embracing the transformative capabilities of CCUS, significant progress can be made. This vital technology is meant to play its full role in achieving net zero, ensuring a prosperous and sustainable future for generations to come – a vision that ENGIE deeply shares and is committed to supporting through its global expertise in advanced decarbonisation solutions.

The writer, Mohammed Al Hajjaj, is the CEO of Engie ��

Almasar Alshamil Education to float 30% stake on Tadawul

Updated 26 October 2025

October 26, 2025 21:29

Almasar Alshamil Education to float 30% stake on Tadawul

Updated 26 October 2025

October 26, 2025 21:29

Almasar Alshamil Education, a leading provider of specialized education in the GCC, has announced its intention to proceed with an initial public offering and the listing of its ordinary shares on the main market of ��’s Tadawul.

On Sept. 29, the Capital Market Authority announced its approval of the company’s application for registering its share capital, and the offering of 30,720,400 shares, representing 30 percent of the company’s share capital. The offering price will be determined at the end of a book building process. Amanat Special Education and Care Holdings Ltd. is the company’s sole shareholder prior to the IPO. The offer shares will be sold by the selling shareholder as part of the offering.

The company has appointed SNB Capital as its financial adviser, lead manager, and underwriter in connection with the offering. SNB Capital and EFG Hermes �� are also appointed as joint bookrunners for the institutional tranche.

Almasar Alshamil Education provides services to the special needs education, care and rehabilitation sectors, and higher education sector through a number of private universities.

The group’s special needs business is operated in the Kingdom through Human Development Company and HDC’s subsidiary Human Rehabilitation Company, which together are the largest private providers of special needs education and care for children with disabilities. In total, they operate 39 daycare centers, 14 private schools and three clinics with more than 7,950 beneficiaries.

In the higher education sector, it operates through Middlesex University Dubai, which currently has an enrollment of more than 6,400 students across two campuses, and NEMA Holding Company, in which it effectively holds a 35 percent interest, and which primarily operates in the higher education sector serving over 13,500 students across five campuses.

The special needs education, care and rehabilitation sectors and higher education sector are high-growth and underserved education sectors, benefiting from positive structural trends, underpinned by favorable demographics and closely aligned to national strategies. The group’s unique capabilities and unified approach enable it to manage multiple scalable and capex-light businesses within the education sector under a single cohesive strategy that aims to achieve above-market growth rates whilst fostering social inclusivity and contributing to the broader development of human capital in the region.

The group has a strong financial profile with revenue growing from SR181 million ($48.2 million) in 2022 to SR437.1 million in 2024, a CAGR of 55 percent, with underlying growth significantly outpacing overall sector growth. The EBITDA increased to SR215.6 million in 2024, from SR96.7 million in 2022, implying a CAGR of 49 percent.

Dr. Shamsheer Vayalil, chairman of Almasar Alshamil Education, said: “Today marks a major milestone in Almasar Alshamil Education’s journey to expand access to high-quality, specialized education across the region. Our intention to list a 30 percent stake on the Saudi Exchange reflects the growing strength of our business and the strong demand for inclusive and specialized education services across the GCC. As the largest provider of special education needs in �� and a leading operator in higher education in the UAE, this next chapter will enable us to accelerate our contribution to national development in the region whilst continuing to enhance the lives of future generations and positively influence the communities in which we operate. The IPO is also a testament to our confidence in the long-term prospects of Almasar Alshamil Education, enabling us to broaden our impact and continue investing in the development of skilled and future-ready human capital across the region.”

Majed Al-Mutairi, CEO of Almasar Alshamil Education, said: “Supported by the increased demand for high-quality specialist education in the region coupled with strong macroeconomic tailwinds, Almasar Alshamil Education is uniquely positioned to scale our high-impact education providers across special needs education and care and higher education. From providing comprehensive education, rehabilitation, and care services through Human Development Company, to operating the region’s leading higher education institutions, such as the first international campus of Middlesex University in Dubai and Abu Dhabi University through NEMA Holding, we have built a portfolio that is strong, mission-led, and scalable. The IPO will enable us to strengthen our capabilities, expand our geographic reach, and continue to make specialized education more accessible for underserved segments, while creating long-term value for our shareholders.”

The offer shares will be available for subscription to individual and institutional investors, including investment funds, companies, qualified foreign investors, foreign strategic investors, and GCC corporate investors.

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