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Chairperson of Hegaz Development Ibrahim Ahmed Al-Zawawi said that the company is developing the Sokhna Hills Project in Ain Sokhna on an area of ​​100 feddans and that it will be developed over three phases.

Al-Zawawi explained that the project includes residential units, a hotel, a commercial mall, and an athletic area, pointing out that the total investments of the first phase amounted to EGP 1.2bn.

He added that the first phase of the project includes 600 different units ranging from chalets, villas, and townhouses, noting that the completion rate of the first phase is approximately 50%.

Al-Zawawi also disclosed that it the company plans to deliver 90 fully finished units in the project within three months and 75 units within a year, in addition to delivering the rest of the units within two years, revealing that the company aims to bring in EGP 200m in sales by the end of this year.

For his part, Mohamed Makkawi — Marketing and Sales Manager of Sokhna Hills — said that the community is designed on a modern basis, and that the company provides various solutions and facilities in payment plans for clients.

The second phase of the project is scheduled to be delivered by the end of 2023, and the third phase in 2024.

In 1988, Hegaz Development started its work in the real estate market in Ain Sokhna and the Gulf of Suez. The company has developed a number of high-profile projects, including Hegaz Oasis and Dolphin Beach.

SOurce:https://dailynewsegypt.com/2022/07/25/hegaz-development-invests-egp-1-2bn-in-1st-phase-of-sokhna-hills-project/

Saudi stock markets opened higher in early morning trade, as oil prices fluctuated steadily.

Oil prices rose on Friday, with Brent crude exiting the week at $119.72 and US West Texas Intermediate settling at $$118.87.

The main index, TASI, opened 0.18 percent higher at 12,627, while the parallel market, Nomu, started 0.08 higher at 22,861 as of 10:07 a.m. Saudi time.

Saudi Public Transport Co. climbed 4.46 percent, leading the gainers; Saudi Printing and Packaging Co. slipped 2.05 percent, leading the market fallers.

Among the fallers on the list, Amana Cooperative Insurance Co. lost 1.17 percent and Saudi Tadawul Group Holding Co. declined 1.42 percent.

Among the gainers on the list, Tabuk Agricultural Development Co. gained 2.21 percent, and Arab National Bank edged up 2.64 percent

In the pharma sector, Aldawaa Medical Services Co. shed 0.13 percent and Nahdi Medical Co. rose 0.75 percent

In the financial sector, the Kingdom’s largest valued bank Al Rajhi gained 0.10 percent, while Alinma Bank slid 0.27 percent.

The shares of both telecom giants stc and Zain KSA started the day flat

Saudi Aramco, the largest player on the Saudi oil market, opened today’s trading up 0.75 percent.

https://www.arabnews.com/node/2096941/business-economy

Tejarah Talks, a new initiative launched by the Ministry of Commerce, Industry & Investment Promotion (MoCIIP) will hold its first event on February 23 at the Civil Aviation Authority Training Centre in Al Hail North.

Supported by Sohar Port & Freezone, HSBC and Oman Business Forum, over the coming year Tejarah Talks will bring together panels of experts, business and thought leaders in a series of seven interactive and informal discussion-led evening sessions to examine key issues shaping Oman’s business landscape, influencing the sultanate’s socio-economic environment, impacting investment and driving non-oil exports.

Thanking Sohar Port & Freezone, HSBC and Oman Business Forum for their support of Tejarah Talks, Maymuna Al Adawi, MoCIIP Director and Tejarah Talks organiser said, “Through this inspiring initiative, we look forward to showcasing the dynamism of business and industry in Oman and highlighting how under the wise guidance of His Majesty Sultan Haitham bin Tarik, Oman Vision 2040 is creating the conditions where more than ever investors in our country can grow, succeed and thrive.”

Tackling topics directly relevant to business, industry and investment in Oman, economic diversification and job creation as well as pressing global issues, Tejarah Talks will explore post-COVID company culture, the evolving world of manufacturing, cracking export markets, the green transition, creative industries and Gen Z, and marketing in the new data-led world. The first Tejarah Talks session will examine the role of sustainability in enhancing competitiveness, attracting investment and unlocking new opportunities.

Al Adawi added, “I am delighted to share that Sustainability: A Nice-to-have or a Need-to-have? will be the focus of our first Tejarah Talks. Of extreme importance and highly topical as the world works towards meeting the climate targets set by the Paris Agreement, this is a central pillar of Oman Vision 2040 and something many Omani companies are building their strategies and future success around. Amongst them is Sohar Port & Freezone with its plans to create a hub for lower-cost hydrogen and develop a 3.5GW solar power capacity. Another standout project is the green hydrogen plant spearheaded by OQ on the Special Economic Zone Duqm. In fact, attendees will hear from a panel of local and international businesses committed to innovative thinking to reverse climate change, lower Oman’s CO2 emissions, improve sustainability and lead the transition to renewables.”

Starting at 7:30pm, the talks will be moderated by His Highness Sayyid Dr Adham Al Said, Founder, The Firm, the evening’s panellists are Mazin Al Saadi, HSSE Manager, Mazoon Dairy; Mark Geilenkirchen, CEO, Sohar Port & Freezone; Dr Firas Al Abduwani, VP, Clean Energy OQ Alternative Energy; Simon Adcock, Head, Commercial Banking, HSBC; and Dr Michael Tsang, Founder, Three Pillars Consulting.

Designed to educate, inspire and entertain, Tejarah Talks are open to the general public and live-streamed to the world via MoCIIP’s Twitter feed to both share discussion outputs and the strength and possibilities of Oman’s competitive offer with as wide an audience as possible.

Source:https://timesofoman.com/article/113495-new-initiative-unveiled-to-examine-key-issues-shaping-omans-business-landscape