Industrial Establishments Increased to 11,000 in Saudi Arabia

The Industrial Sector Enablers forum organized by the Riyadh Chamber (Asharq Al-Awsat)
The Industrial Sector Enablers forum organized by the Riyadh Chamber (Asharq Al-Awsat)
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Industrial Establishments Increased to 11,000 in Saudi Arabia

The Industrial Sector Enablers forum organized by the Riyadh Chamber (Asharq Al-Awsat)
The Industrial Sector Enablers forum organized by the Riyadh Chamber (Asharq Al-Awsat)

The number of industrial establishments in Saudi Arabia increased from 8,800 in 2019 to more than 11,000 industrial establishments, according to Ministry of Industry and Mineral Resources official Mohammad al-Suwailem.

The undersecretary for industrial services was speaking at the “Industrial Sector Enablers” forum, organized by the Riyadh Chamber represented by the Industrial Committee, in cooperation with the Ministry of Industry and Mineral Resources.

The forum was held in the presence of a member of the Board of Directors and Chairman of the Industrial Committee at the Riyadh Chamber, Abdullah al-Khorayef, and several interested specialists in the industrial sector.

The event highlighted the enablers allocated to enable the industrial sector to achieve the industrial goals within the paths of Vision 2030.

Suwailem confirmed that the number of industrial establishments in Saudi Arabia is targeted to reach 36,000 in 2035.

Khorayef confirmed that holding the forum comes within the framework of the efforts of the Chamber’s Industry Committee to build bridges of communication with officials in the industrial sector.

He reiterated that it allows the opportunity to discuss issues of concern to the sector and reach solutions.



Abu Dhabi's MAIR Group to List in Abu Dhabi Next Month

Abu Dhabi's MAIR Group to List in Abu Dhabi Next Month
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Abu Dhabi's MAIR Group to List in Abu Dhabi Next Month

Abu Dhabi's MAIR Group to List in Abu Dhabi Next Month

Abu Dhabi-based MAIR Group, an investment firm active in sectors including food retail and commercial real estate, said on Thursday it would list on the local bourse next month.

The company, which operates over 100 stores in the United Arab Emirates (UAE) under the ADCOOP and SPAR brands, said in a statement the listing on the Abu Dhabi securities exchange (ADX) would take place on Dec. 9.

It did not disclose the amount of stock shareholders and employees plan to sell through the so-called direct listing, which takes place when a company offers shares to the public without going through a bank-backed initial public offering, Reuters reported.

As MAIR prepares to list "we are ready to amplify our impact, strengthen our foundations, and invite stakeholders to join our journey," Managing Director and CEO Nehayan Al Ameri said.

MAIR, which also manages more than 12 shopping centers through its commercial real estate division, booked revenues of 1.2 billion dirhams ($326.7 million) in the first half of 2024.

Last year, it distributed 135 million dirhams in dividends, equal to 12.11% of the share capital, to its over 12,000 shareholders.