Banan wins contract to develop Riyadh hotel project

06/07/2026 06:08 AST

Banan Real Estate Company has signed a SAR55 million ($14.5 million) contract with Saudi-based Afaq Al Qimma Al Rabiaa Al Mutatawera Company for the development of a hotel building within Al Rahmaniya neighbourhood in capital Riyadh.

A key entity in Saudi Arabia, Afaq Al Qimma Al Rabiaa Al Mutatawera was established mainly to acquire and own prime real estate assets belonging to Artal Real Estate Development Fund IV (which is a closed real estate investment fund managed by Artal Financial Company).

The new hotel building, which will come up on a ??3,284m plot in Al Rahmaniyah district, is owned by Artal Fourth Real Estate Fund. The entire work will be completed within a two-year period, said Banan Real Estate Company in its filing to Saudi bourse Tadawul.

As per the deal, Banan will also be responsible for marketing the hotel project.

Banan's key subsidiary Qimam Noshoz Real Estate Development Company owns a 38.2% stake in the fourth Artal Real Estate Development Fund, while Banan directly owns 10.2% of the fund.

On the financial impact, the Saudi developer said the positive financial impact will be reflected in the company's revenues and results starting from the second half of FY 2026.


Trade Arabia

Most Viewed Companies

Ticker Price Volume

Valuation

BANAN Sector Market
P/E
Price/BookValue
Dividend Yield (%)

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
MASAR 18.02 -0.02 (-0.12%)
DARALARKAN 18.44 0.34 (1.87%)
JABALOMAR 15.51 0.02 (0.12%)
MCDC 86.95 0.85 (0.98%)
CENOMICENTERS 17.19 0.04 (0.23%)

Recent News

Emaar, the Economic City Signs SAR 547 Million Infrastructure Contract

06/07/2026

Emaar, the Economic City announced the signing of a construction works contract with Nesma & Partners Contracting Company UJSC to develop infrastructure networks within the Special Economic Zone in t

Borsatalkhaleej

Scientific & Medical Equipment House Co. Secures SR 95 Mln Justice Ministry Project

06/07/2026

Scientific & Medical Equipment House Co. announced-according to its disclosure posted on the Saudi Exchange (Tadawul)-that it has received a letter of award from the Ministry of Justice for a major c

Borsatalkhaleej

S&P affirms Alkhaleej Takaful's 'A-' credit rating with stable outlook

06/07/2026

S&P Global Ratings has affirmed the long-term issuer credit and insurer financial strength ratings of Alkhaleej Takaful Insurance Company (AKTI) at 'A-', maintaining a stable outlook, the company sai

Gulf Times

MAIR to revamp Mall of Al Ain with retail, hotel upgrades

06/07/2026

MAIR Group, a strategic investment company focused on grocery retail and commercial real estate, has announced the redevelopment and expansion of Mall of Al Ain, through its commercial real estate ar

Trade Arabia

NIC reinforces its commitment to sustainability with release of its Annual Sustainability Report

06/07/2026

Reaffirming its institutional commitment to embedding a culture of sustainability and strengthening the principles of governance and transparency, National Investments Company (NIC) has published its

Kuwait Times

logo

Financial Information Co.

Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2025, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap