Mubadala signs JV for industrial properties across the US

Mubadala signs JV for industrial properties across the US
Mubadala’s $243.4 billion portfolio spans six continents. (Supplied)
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Updated 01 September 2021

Mubadala signs JV for industrial properties across the US

Mubadala signs JV for industrial properties across the US
  • US real estate developer Crow Holdings to build or acquire $1 billion of industrial properties across the US

DALLAS: Abu Dhabi sovereign wealth fund Mubadala has created a joint venture with US real estate developer Crow Holdings to build or acquire $1 billion of industrial properties across the US.

Crow Holdings has been around for 70 years and manages $21 billion of assets through 17 offices across the US

“We look forward to partnering with this leading global investor as it seeks to increase its exposure to the industrial sector and capitalize on the secular growth in logistics demand,” Michael Levy, CEO of Crow Holdings, said in a statement.

“We continue to accelerate our market-leading presence in the industrial space by developing or acquiring state-of-the-art properties across a range of strategies from merchant-build to long-term build-to-core portfolio construction,” he said.

Mubadala’s other recent deals in the US includes a $250 million investment in biosimulation company Certara in July.


Telecom Zain KSA profits drop 36% for first 9 months of 2021

Telecom Zain KSA profits drop 36% for first 9 months of 2021
Updated 10 sec ago

Telecom Zain KSA profits drop 36% for first 9 months of 2021

Telecom Zain KSA profits drop 36% for first 9 months of 2021
  • The decline is due to a 1 percent drop in revenue, as well as rising revenue costs by 19 percent, the company said in a bourse filing. 

DUBAI: Saudi telecom firm Zain KSA posted a net profit of SR143 million ($38.1 million) in the first nine months of 2021, a 36 percent drop from the same period last year. 

The decline is due to a 1 percent drop in revenue, as well as rising revenue costs by 19 percent, the company said in a bourse filing. 

Lowering operating expenses and the results of the capital restructuring last year helped compensate for the fall, it added. 


Telecom Zain KSA profits drop 36% for first 9 months of 2021

Telecom Zain KSA profits drop 36% for first 9 months of 2021
Updated 18 sec ago

Telecom Zain KSA profits drop 36% for first 9 months of 2021

Telecom Zain KSA profits drop 36% for first 9 months of 2021
  • The decline is due to a 1 percent drop in revenue, as well as rising revenue costs by 19 percent, the company said in a bourse filing. 

DUBAI: Saudi telecom firm Zain KSA posted a net profit of SR143 million ($38.1 million) in the first nine months of 2021, a 36 percent drop from the same period last year. 

The decline is due to a 1 percent drop in revenue, as well as rising revenue costs by 19 percent, the company said in a bourse filing. 

Lowering operating expenses and the results of the capital restructuring last year helped compensate for the fall, it added. 


Telecom Zain KSA profits drop 36% for first 9 months of 2021

Telecom Zain KSA profits drop 36% for first 9 months of 2021
Updated 22 sec ago

Telecom Zain KSA profits drop 36% for first 9 months of 2021

Telecom Zain KSA profits drop 36% for first 9 months of 2021
  • The decline is due to a 1 percent drop in revenue, as well as rising revenue costs by 19 percent, the company said in a bourse filing. 

DUBAI: Saudi telecom firm Zain KSA posted a net profit of SR143 million ($38.1 million) in the first nine months of 2021, a 36 percent drop from the same period last year. 

The decline is due to a 1 percent drop in revenue, as well as rising revenue costs by 19 percent, the company said in a bourse filing. 

Lowering operating expenses and the results of the capital restructuring last year helped compensate for the fall, it added. 


Saudi Non-oil exports rose by 26.8 percent in August, official data shows

Saudi Non-oil exports rose by 26.8 percent in August, official data shows
Updated 7 min 17 sec ago

Saudi Non-oil exports rose by 26.8 percent in August, official data shows

Saudi Non-oil exports rose by 26.8 percent in August, official data shows

CAIRO: Saudi Arabian non-oil exports rose by 26.8 percent in August from a year ago, according to the General Authority of Statistics (GASTAT).


Iraq, Saudi ACWA Power close to signing a solar energy agreement

Iraq, Saudi ACWA Power close to signing a solar energy agreement
Updated 19 min 18 sec ago

Iraq, Saudi ACWA Power close to signing a solar energy agreement

Iraq, Saudi ACWA Power close to signing a solar energy agreement
  • The ministry said it is close to signing the agreement with the Saudi utility company to generate 1,000 megawatts of solar power in the Najaf Governorate.

CAIRO: Iraq is in advanced discussions to establish a solar energy project with Saudi Arabia’s ACWA Power, the oil ministry announced on its Facebook page. 

The ministry said it is close to signing the agreement with the Saudi utility company to generate 1,000 megawatts of solar power in the Najaf Governorate.