Tadawul approves Morgan Stanley 海角直播 as market maker for 8 listed securities
Tadawul approves Morgan Stanley 海角直播 as market maker for 8 listed securities/node/2593094/business-economy
Tadawul approves Morgan Stanley 海角直播 as market maker for 8 listed securities
Morgan Stanley first entered the Saudi market in 2007, launching an equity trading business in Riyadh, followed by the establishment of an equity fund in 2009. Shutterstock
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Updated 10 March 2025
Nadin Hassan
Tadawul approves Morgan Stanley 海角直播 as market maker for 8 listed securities
Updated 10 March 2025
Nadin Hassan
RIYADH: Tadawul has approved Morgan Stanley 海角直播 to serve as a market maker for eight securities on the main trading platform and the parallel index, Nomu.
The decision allows the financial services company to enhance market liquidity and improve price efficiency in accordance with regulations and procedures.
Among the securities listed on the main index, the firm will act as a market maker for Arabian Internet and Communications Services Co., where it will ensure a minimum presence of orders at 80 percent, maintain a size of SR150,000 ($39,982), and adhere to a maximum spread of 0.65 percent, with the lowest value traded of 5 percent.
Similarly, it will provide聽services for Electrical Industries Co., ensuring an 80 percent minimum presence of orders, a minimum size of SR75,000, a maximum spread of 0.65 percent, and a value traded of 5 percent.
Elm Co. is also among the approved securities, with Morgan Stanley 海角直播 committing to the same trading obligations as Electrical Industries Co.
Meanwhile, the Co. for Cooperative Insurance will have a minimum order presence of 80 percent, a minimum size of SR150,000, a maximum spread of 0.65 percent, and a value traded of 5 percent.
On Nomu, Morgan Stanley 海角直播 was approved as a market maker for National Environmental Recycling Co., International Human Resources Co., Almuneef Co. for Trade, Industry, Agriculture, and Contracting, as well as Aqaseem Factory for Chemicals and Plastics Co.
In each of these cases, it will ensure a minimum presence of orders at 50 percent, maintain a minimum size of SR50,000, and adhere to a maximum spread of five percent, with no minimum value traded requirement.
Morgan Stanley 海角直播鈥檚 participation in market making is expected to contribute to greater liquidity and a more efficient trading environment, reinforcing the development of the country鈥檚 capital market.
In November, the investment bank was granted approval to establish its regional headquarters in the Kingdom, as the nation continues to attract international investment.
This move aligns with 海角直播鈥檚 regional headquarters program, which offers businesses various incentives, including a 30-year exemption from corporate income tax and withholding tax on headquarters activities, as well as access to discounts and support services.
Morgan Stanley first entered the Saudi market in 2007, launching an equity trading business in Riyadh, followed by the establishment of an equity fund in 2009.
RIYADH: Morgan Stanley 海角直播 has been approved to conduct market-making activities for 52 companies listed on the Kingdom鈥檚 stock exchange, according to a statement on Tadawul.
The US-based multinational investment banking company鈥檚 applications are set to cover securities on the main and parallel markets, commencing on July 1.
Market makers are exchange members responsible for maintaining liquidity in listed securities by continuously posting buy and sell quotes during the market open session. They must adhere to market-making obligations set by Tadawul, which include requirements such as maximum spread, minimum order size, presence time, and daily traded value.
Among the securities listed on the main index, Morgan Stanley 海角直播 will act as a market maker for Riyad Bank, where it will ensure a minimum presence of orders at 80 percent, maintain a size of SR250,000 ($66,660), and adhere to a maximum spread of 0.65 percent, with the lowest value traded of 5 percent.
It will also provide services for Saudi Awwal Bank, ensuring a minimum presence of orders of 80 percent, a minimum order size of SR250,000, a maximum spread of 0.65 percent, and a value traded of at least 5 percent.
海角直播n Mining Co., Astra Industrial Group, and Etihad Etisalat Co. are also among the companies where those requirements will be met, along with Al Rajhi Bank, 海角直播n Oil Co., and Saudi Telecom Co.
Additionally, a range of firms will be subject to a minimum order presence of 80 percent, a minimum order size of SR150,000, and a maximum bid-ask spread of 0.65 percent, without any minimum value traded requirement. These include ACWA Power Co., Saudi Electricity Co., and Ades Holding Co.
Morgan Stanley 海角直播 will also cover several other securities on the main market, ensuring a minimum presence of orders at 50 percent, maintaining a minimum size of SR75,000, and a maximum spread of 2 percent.
On Nomu, the firm is responsible for guaranteeing a minimum presence of orders at 50 percent, maintaining a minimum size of SR50,000, and adhering to a maximum spread of 5 percent, with no minimum value traded requirements for a range of companies, including, Waja Co., Jana Medical Co., and Purity for Information Technology Co.
Morgan Stanley 海角直播鈥檚 participation in market making is expected to contribute to greater liquidity and a more efficient trading environment, reinforcing the development of the country鈥檚 capital market.
Tadawul approved a similar move for the investment bank in March, where it served as a market maker for eight separate securities listed on both Saudi indices.
Morgan Stanley entered the Saudi market in 2007 and has since set up its regional headquarters in Riyadh in November as part of a program launched by the Kingdom to provide businesses with a range of incentives, such as a 30-year exemption from corporate income tax, withholding tax on headquarters operations, and access to discounts and support services.
Oil Updates 鈥 prices steady as investors watch OPEC+ decision
Updated 42 min 10 sec ago
Reuters
SINGAPORE: Oil prices steadied on Tuesday after sliding earlier in the session, with the market weighing expectations of an OPEC+ output hike in August in an upcoming meeting.
Brent crude rose 10 cents, or 0.2 percent, to $66.84 a barrel by 8:35 a.m. Saudi time, while US West Texas Intermediate crude inched up 9 cents, or 0.1 percent, to $65.20 a barrel.
鈥淭he market is now concerned that the OPEC+ alliance will continue with its accelerated rate of output increases,鈥 ANZ senior commodity strategist Daniel Hynes said in a note.
Four OPEC+ sources told Reuters last week that the group plans to raise output by 411,000 barrels per day in August, following similar hikes in May, June, and July.
If approved, this would bring OPEC+鈥檚 total supply increase for the year to 1.78 million bpd, equivalent to more than 1.5 percent of global oil demand. OPEC and its allies including Russia, together known as OPEC+, will meet on July 6.
鈥淭hese larger supply increases should leave the global oil market well supplied for the remainder of the year,鈥 ING commodities strategists said.
鈥淓xpectations for a comfortable oil balance, along with a large amount of OPEC spare production capacity, appear to be comforting the market,鈥 ING added.
Uncertainty about US tariffs and their impact on global growth also kept a lid on oil prices.
US Treasury Secretary Scott Bessent warned that countries could be notified of sharply higher tariffs despite good-faith negotiations as a July 9 deadline approaches, when tariff rates are scheduled to revert from a temporary 10 percent level to President Donald Trump鈥檚 suspended rates of 11 percent to 50 percent announced on April 2.
Morgan Stanley expects Brent futures to retrace to around $60 by early next year, with the market being well supplied and geopolitical risk abating following the Israel-Iran de-escalation. It expects an oversupply of 1.3 million bpd in 2026.
A 12-day war that started with Israel targeting Iran鈥檚 nuclear facilities on June 13 pushed up Brent prices. They surged above $80 a barrel after the US bombed Iran鈥檚 nuclear facilities and then slumped to $67 after Trump announced an Iran-Israel ceasefire.
Closing Bell: Saudi TASI closes lower at 11,163 amid mixed performance
MSCI Tadawul 30 Index slipped 0.36% to end at 1,428.86
Parallel market Nomu rose 0.34% to finish at 27,341.63
Updated 30 June 2025
NOUR EL-SHAERI聽聽聽
RIYADH: 海角直播鈥檚 Tadawul All Share Index fell 0.35 percent to close at 11,163.96 on Monday, weighed by losses in several blue-chip stocks.
Trading activity remained robust, with turnover reaching SR7.3 billion ($1.9 billion), with the market recording 118 advancers versus 133 decliners.
The MSCI Tadawul 30 Index slipped 0.36 percent to end at 1,428.86, while the parallel market Nomu rose 0.34 percent to finish at 27,341.63.
Fawaz Abdulaziz Alhokair Co. led the main market gainers with a 9.96 percent rise to SR24.62.
National Metal Manufacturing and Casting Co. followed with a 9.29 percent gain, closing at SR16.83.
Other notable performers included Buruj Cooperative Insurance Co., which advanced 7.40 percent to SR18.00, and The Mediterranean and Gulf Insurance and Reinsurance Co., up 7.16 percent at SR20.06.
On the downside, Al Maather REIT Fund recorded the steepest decline, falling 3.33 percent to SR9.01.
Etihad Etisalat Co. dropped 3.10 percent to SR59.30, while MBC Group Co. slipped 2.99 percent to SR35.70. Rasan Information Technology Co. also retreated 2.69 percent to close at SR86.90.
On the announcement front, ACWA Power Co. released details regarding its planned capital increase through a rights issue.
The company set the offering price at SR210 per share, with a total of 33,928,570 new shares to be issued.
Following the offering, ACWA Power鈥檚 capital will rise from SR7.33 billion to SR7.66 billion, increasing the total number of shares to 766,490,498.
The transaction represents 4.63 percent of the issuer鈥檚 existing capital and is valued at SR7.12 billion.
ACWA Power said the proceeds will support its strategy to triple the assets under management by 2030 and strengthen its financial position.
Eligibility for the rights issue will apply to shareholders registered at the end of the second trading day following the date of an extraordinary general assembly.
ACWA Power shares closed up 4.07 percent on Monday at SR256.00, with over 1.1 million shares traded.
海角直播鈥檚 PIF assets rise 18% to $1.15tn as portfolio firms drive growth聽
Sovereign wealth fund reported gross revenues of SR413 billion for 2024
It reported a net profit of SR26 billion in 2024
Updated 30 June 2025
Nirmal Narayanan
RIYADH: 海角直播鈥檚 Public Investment Fund boosted its total assets to SR4.32 trillion ($1.15 trillion) by the end of 2024, an 18 percent increase compared to the previous year, according to a disclosure filed with the London Stock Exchange.
The sovereign wealth fund reported gross revenues of SR413 billion for 2024, reflecting a 25 percent year-on-year rise. This growth was fueled by solid performance across several portfolio companies, including Savvy, Ma鈥檃den, stc, Saudi National Bank, AviLease, and Gulf International Bank, as well as dividend income from Saudi Aramco.
PIF, often described as the financial engine of 海角直播, plays a central role in advancing the Kingdom鈥檚 Vision 2030 goals to diversify the economy and reduce dependency on oil income.
鈥淟ong-term projects, that are beginning to mature, are also now generating significantly more revenue,鈥 the disclosure document stated.
Despite global macroeconomic challenges such as high interest rates, inflationary pressure, and select asset impairments, the fund reported a net profit of SR26 billion in 2024.
PIF is shaping the future of urban development, creating thriving communities that meet the needs of modern living.
That's The PIF Effect
Invested In Better
鈥 Public Investment Fund (@PIF_en)
The filing clarified that the impairments were 鈥減rimarily related to changes to operational plans and increases in budgeted costs and represent less than a 2 percent reduction in total assets.鈥
PIF鈥檚 cash reserves held steady at SR316 billion, while loans and borrowings rose modestly to SR570 billion, reflecting continued diversification of its funding sources via international capital markets.
In 2024, the fund issued $2 billion in dollar-denominated sukuk and launched its first-ever sterling bond worth 拢650 million ($825.5 million). It also refinanced a $15 billion revolving credit facility, underlining market confidence in its creditworthiness and long-term investment outlook.
PIF鈥檚 debt ratio remained unchanged at 13 percent by the end of the year, the disclosure noted.
鈥淥ver 2024, PIF continued to advance its position as one of the world鈥檚 most impactful investors, while driving economic transformation in 海角直播,鈥 the document added.
It highlighted strategic progress in sectors such as leisure and tourism, industrial capabilities, capital markets, and the development of new industries.
Among standout performers, AviLease recorded a 350 percent surge in net profit to SR228 million and a 306 percent rise in revenue to SR2.1 billion. The aircraft leasing company expanded its fleet to 189 aircraft, comprising 163 owned, 22 managed, and four on order.
Meanwhile, Alat 鈥 another PIF-backed firm 鈥 invested SR401 million to establish an AI-driven robotics manufacturing facility in the Kingdom through a joint venture with SoftBank Robotics.
Riyadh leads 海角直播鈥檚 commercial real estate growth with 23% rise in office rents
Average rents for office spaces in Riyadh saw an annual rise of 23%
Jeddah鈥檚 total office stock is expected to rise 1.8 million sq. meters by 2027
Updated 30 June 2025
Nirmal Narayanan
RIYADH: 海角直播鈥檚 commercial real estate sector is witnessing exponential growth, with rents for Grade A office spaces in the Kingdom鈥檚 capital reaching SR2,700 ($719.95) per sq. meter by the end of March, an analysis showed.
In its latest report, global real estate consultancy Knight Frank said average rents for office spaces in Riyadh witnessed an annual rise of 23 percent by the end of the first quarter, driven by the success of government-led initiatives, including the ambitious regional headquarters program.
Strengthening the real estate sector is one of the key goals outlined in 海角直播鈥檚 Vision 2030 agenda, as the nation aims to position itself as a leading business and tourism destination by the end of the decade.
The Kingdom鈥檚 Real Estate General Authority expects the property market to reach $101.62 billion by 2029, with an anticipated compound annual growth rate of 8 percent from 2024.
海角直播鈥檚 regional headquarters program offers benefits to international firms, including a 30-year exemption from corporate income tax. File/SPA
鈥満＝侵辈モ檚 economic momentum continued to strengthen across key sectors in 2024, underpinned by rising private sector activity,鈥 said Faisal Durrani, partner 鈥 head of research for the Middle East and North Africa at Knight Frank.
According to the report, the Kingdom鈥檚 Grade A office rents witnessed an occupancy level of 98 percent by the end of March.
Grade B rents grew by 24 percent year on year by the end of the first quarter, while the occupancy level of these spaces stood at 97 percent.
Grade A office spaces command higher rents than the area average, thanks to their prime locations, modern infrastructure, and newer construction.
In contrast, Grade B office spaces are more affordable, offering a lower-cost alternative to Grade A units.
Average daily rate in Madinah reached SR891 by the end of the first quarter. File/SPA
The report further said that around 600 companies have announced plans to establish their regional headquarters by the end of February, significantly boosting demand for prime office spaces.
海角直播鈥檚 regional headquarters program offers benefits to international firms, including a 30-year exemption from corporate income tax and withholding tax on headquarters activities, as well as discounts and support services.
鈥淎 total of 14,303 foreign business investment licenses were issued during 2024, a 67 percent increase from 2023, marking the highest annual figure on record and underscoring the sustained appeal of 海角直播 to global corporates and investors,鈥 said Durrani.
The analysis added that Jeddah is also experiencing significant growth in the commercial real estate sector, with both Grade A and Grade B occupancies reaching 95 percent by the end of March.
Knight Frank said Grade A office rents in Jeddah reached SR1,280 per sq. meter, marking a 4 percent year-on-year growth, while Grade B office rents grew by 6 percent to reach SR845 per sq. meter.
Jeddah鈥檚 total office stock is expected to rise from 1.6 million sq. meters this year to 1.8 million sq. meters by 2027.
鈥淎s more companies expand their footprint across 海角直播, Jeddah is attracting a growing number of regional and local firms. This rising interest is being supported by a healthy office development pipeline,鈥 said James Hodgetts, partner 鈥 occupier strategy and solutions at Knight Frank.
The Saudi Real Estate General Authority expects the property market to reach $101.62 billion by 2029. Saudipedia
He added: 鈥淯pcoming projects include Jeddah Gate, which is expected to deliver 230,000 sq. meters between 2025 and 2028, and Jeddah Rose, a mixed-use development bringing 25,000 sq. meters of office space to the market by the end of 2025.鈥
In May, Jeddah Municipality announced 29 new investment opportunities spanning over 1.4 million sq. meters, targeting sectors including commercial, industrial, residential, and recreational.
The package includes 13 commercial opportunities featuring the development and operation of retail shops and commercial complexes across various districts.
In April, a separate report released by credit rating agency S&P Global said that the Kingdom鈥檚 retail real estate market is poised for growth in the near term, driven by population growth, expanding tourism, and economic diversification efforts under the Vision 2030 initiative.
S&P Global added that ongoing mega projects and the expansion of international brands are expected to propel further demand for retail space nationwide.
Hospitality overview
According to the study, the average daily rate in 海角直播鈥檚 hospitality sector increased by 10.8 percent year on year by the end of March, while revenue per available room increased by 12.3 percent during the same period.
Growth of the Kingdom鈥檚 hospitality sector was largely driven by gains in the nation鈥檚 holy cities and Riyadh. File/SPA
The report said the growth of the Kingdom鈥檚 hospitality sector was largely driven by gains in the nation鈥檚 holy cities and Riyadh.
In the first quarter of 2025, ADR in Makkah rose by 28.9 percent year on year to SR859, while RevPAR was up by 35.7 percent to SR673.
Citing data from the Ministry of Hajj, Knight Frank said the surge in performance in Makkah reflected heightened demand linked to the rise in issued Umrah visas, which grew by 8.3 percent.
With more than 8,500 rooms under construction across 12 hotel developments, Makkah鈥檚 total inventory is set to increase from 63,428 to 71,643 rooms by 2027, the report added.
According to the analysis, ADR in Madinah reached SR891 by the end of the first quarter, representing an 11.8 percent year-on-year rise, while RevPAR rose by 15.1 percent to SR724.
Madinah currently has 20,673 hotel rooms, and an additional 2,100 keys are expected to be delivered by 2027. Major international operators continue to expand their presence, including Hilton and Marriott, with planned openings totaling over 6,000 rooms.
Rua Al-Madinah, a new giga-project situated east of the Prophet鈥檚 Mosque, is also poised to reshape the hospitality landscape, with over 47,000 planned hotel rooms.
鈥淭hese latest figures point to resilient demand amid limited new supply and further highlight Madinah鈥檚 pricing strength,鈥 said Amar Hussain, associate partner 鈥 research, Middle East at Knight Frank.
Jeddah is also experiencing significant growth in the commercial real estate sector. File/SPA
He added: 鈥淧ilgrim arrivals in the city are expected to reach 30 million by 2030, up from 17.3 million in 2025, reflecting the city鈥檚 growing role as a global hub for religious tourism.鈥
Data Centers
Knight Frank said 海角直播 is positioning itself as the Middle East鈥檚 leading data hub, with plans to grow its data center market from $1.78 billion in 2023 to $3.2 billion by 2029, representing a compound annual growth rate of 10.1 percent.
The report noted that 海角直播鈥檚 total IT capacity is expected to increase from around 250-300 megawatts in 2024 to more than 1,000-MW by 2030, driven by strategic government initiatives and substantial investment in digital infrastructure.
During the LEAP 2025 conference in February, Cathy Mauzaize, US-based software firm ServiceNow鈥檚 president for Europe, the Middle East and Africa, said that the company is set to launch data centers in the Kingdom in 2026.
In the same month, Alfanar Global Development also announced a $1.4 billion investment plan to develop four world-class data centers in 海角直播.
Knight Frank added that all tier-one US cloud providers, including Microsoft, Amazon Web Services, Google Cloud, and Oracle, have either launched operations or announced further expansions in the Kingdom.
Amazon Web Services alone has committed $5.3 billion to scale up its cloud services across key cities.
Chinese firms such as Alibaba Cloud and Huawei Cloud have also established a local presence.
鈥満＝侵辈 is now the fastest growing market for data centers as the country continues its drive toward national digitalization,鈥 said Stephen Beard, global head of data centers at Knight Frank.
He added: 鈥淭he Kingdom鈥檚 development of data center infrastructure has been driven largely by adoption of public cloud and sustained public and private investment, transforming it into one of the top five global AI superpowers 鈥 evident in the recent launch of the $100 billion Transcendence AI Initiative.鈥
海角直播 launched Project Transcendence in November, a $100 billion AI initiative aimed at building data centers, supporting startups, and developing infrastructure.
The initiative promises to bring together expertise, infrastructure, and innovation to position the Kingdom at the forefront of AI advancements.
