Happy Monday everyone!

Saudi developer Umm Al Qura begins trading today after its $523 million IPO, drawing strong investor interest. Meanwhile, Riyadh has unveiled major investment opportunities across commercial, residential, and industrial sectors, aligning with Vision 2030 goals. Over in Dubai, the luxury watch market is booming, with high-end timepieces selling for up to $240,000 amid soaring demand, reports Bloomberg.

Let’s dive in!

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Saudi Developer Umm Al Qura Begins Trading Today After $523M IPO

📰 What is it about?

• Umm Al Qura’s shares debut today on Saudi Arabia’s main stock exchange after a highly anticipated $523 million IPO—the largest in the kingdom this year.

• The company, which is developing the $27 billion Masar project in Mecca, sold 9% of its shares, with institutional demand oversubscribed 241 times.

• The Masar project spans 3.5 km in Mecca and includes 18,000 serviced apartments, 23,000 hotel keys, and 9,000 residential units.

💡 Why it matters?

• Mecca’s booming real estate sector aligns with Saudi Arabia’s Vision 2030, which aims to increase pilgrim numbers from 18.5 million to 30 million in the next five years.

• Umm Al Qura’s IPO follows a strong trend of high-demand Saudi listings, with past IPOs like Derayah Financial and Entaj surging 30% on their first trading day.

• The Saudi market is opening up to foreign investors, following a CMA ruling in January allowing global investors to buy shares in real estate firms operating in Mecca and Medina.

🔜 What’s next?

• Analysts expect strong investor interest, with shares likely to perform well based on previous real estate IPOs.

• Umm Al Qura joins four other listed developers in Mecca and Medina, including Jabal Omar, Taiba Investments, Makkah Construction, and Knowledge Economic City.

• The listing could boost Saudi Arabia’s stock market liquidity and attract further foreign investment into the kingdom’s real estate sector.

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📰 What is it about?

• Odeum, the content studio built for modern media consumption, partnering with brands to deliver tailored content services while also creating original productions under the Augustus Media network.

💡 Why Choose ODEUM?

At ODEUM, we provide end-to-end media solutions to elevate your brand across multiple platforms.

• Video Production: From AI-powered videos to immersive live streaming and CGI storytelling.

• Animation Services: Dynamic 2D & 3D animation, motion graphics, and visually striking CGI. 

• Audio Production: Podcasting, sound design, and professional voiceovers that elevate content with immersive audio experiences.

• Original Content Development: Conceptualizing and producing shows, short films, and series that engage and inspire.

• Studio Rental: Fully equipped production spaces designed for seamless content creation, offering state-of-the-art filming, podcasting, and photography setups to bring creative visions to life.

🔜 What’s next?

• Have a project in mind? Let's make it happen!

• Book a studio or discuss your next big idea with us today.

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Markets

Riyadh Unveils 2025 Investment Opportunities Across Key Sectors

📰 What is it about?

• Riyadh Municipality has launched 20 new investment opportunities for 2025, spanning commercial, residential, retail, industrial, and leisure projects.

• The projects cover 175,000 sq. meters across more than 20 locations, including mixed-use developments, retail spaces, sports clubs, cafes, and ATM setups.

• Investors can access and apply for these opportunities through the Furas online platform, the city’s dedicated real estate and municipal investment hub.

💡 Why it matters?

• The initiative aligns with Saudi Arabia’s Vision 2030, aiming to boost private sector participation in urban development and economic growth.

• Contracts for investment sites range from five to 25 years, offering long-term business potential in key districts like Jarir, Al-Deerah, Al-Rawdah, and Al-Qadisiyah.

• Riyadh is also enhancing urban livability, having inaugurated 87 new parks over the past three years, expanding green spaces to over 700 parks.

🔜 What’s next?

• Investors have until May 2025 to review requirements and submit applications for available sites.

• Riyadh continues to evolve as a hub for sustainable urban growth, balancing infrastructure expansion with quality-of-life enhancements.

• These projects will help attract businesses, create jobs, and foster social engagement, solidifying Riyadh’s position as a leading city in the region.

Dubai’s Luxury Watch Frenzy: Buyers Snap Up $240,000 Timepieces

What is happening?

• Demand for ultra-luxury watches in Dubai is surging, with independent Swiss watchmaker MB&F selling 46 pieces in the region last year—some worth up to $240,000.

• Swiss watch exports to the Middle East jumped 53% in 2024, contrasting with a 2% global decline and a 26% drop in China.

• Luxury timepieces have become status symbols in Dubai’s business circles, with professionals and collectors alike investing heavily.

Why it matters:

• The Gulf region is becoming a vital market for the Swiss watch industry as demand slows elsewhere.

• Swatch Group posted record sales in the Middle East, even as its global operating profit fell by 75% in 2024.

• Watch brands are tailoring exclusive, region-specific collections, such as Rolex Arabic dials, Jacob & Co.’s Oil Pump watch, and Oris’ Doha Watch Club limited edition.

• Luxury watchmakers are also partnering with real estate developers, as seen with Burj Binghatti Jacob & Co Residences and Franck Muller’s clock tower project in Dubai.

What’s next?

• Auction houses are targeting Middle Eastern buyers, with Christie’s hosting its biannual ‘Dubai Edit’ auction next month.

• While Dubai’s watch boom continues, volatility in oil prices could impact demand, given the region’s history of economic cycles.

• Despite global uncertainty, the Middle East’s wealthy clientele shows little hesitation, with MB&F’s founder noting:

  • “Elsewhere, buyers wait years for better prices. Here, they just ask: ‘How much? I just want the watch.’”

🔍In other news…

• Saudi Arabia’s PIF at forefront as Gulf wealth funds approach $18tn by 2030.

• Iraq plans to raise oil production capacity above 6 million bpd by 2029.

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