Saudi Arabia’s legal sector is next in line for foreign investment reforms
foreign ownership
Latest in foreign ownership
Aviation
Saudi aviation reform to benefit airlines, boost competition and transparency, GACA official says
These changes will be phased in over 18 months, with General Authority of Civil Aviation (GACA) communicating an implementation plan to sector operators
100% foreign ownership
ADX-listed Dana Gas announces 100% ownership for foreign investors
Foreign investors could previously only own 49 percent of Dana Gas’s shares
Foreign investors
Saudi to allow foreigners to buy property: Reports
Saudi Arabia is working on new real estate laws to allow foreigners to buy property in the Kingdom
acquisitions
Priora Management Holding Dubai acquires Virgin Mobile Middle East and Africa
The deal is the first foreign ownership transaction to be approved under the 2021 Royal Decree sanctioning FDI and full ownership of organizations in a number of sectors within Saudi Arabia
100% foreign ownership
UAE cooling major Tabreed to allow 100 percent foreign ownership in the company
The announcement led to the company share price posting a jump of more than 10 percent on DFM on Tuesday to close at AED3.15
100% foreign ownership
Emaar to allow 100 percent foreign ownership from next Tuesday
There will be no shareholding limit for foreign ownership from October 25
100% foreign ownership
Non-Qatar investors now allowed to own up to 100% of some listed companies
Six companies were included in the announcement
100% foreign ownership
Middle East’s biggest courier Aramex increases its foreign ownership limit to 100 percent
The move makes it the “first onshore UAE company listed on the DFM to allow for full ownership of its free-floating shares by foreign investors”, the company said
Abu Dhabi
Abu Dhabi’s National Marine Dredging Company permits foreigners to own up to 49 percent of the firm’s capital
The decision will result in increased trading on the National Marine Dredging Company’s shares, increased liquidity, and international flows for the stock, raising its value in global trading indices such as the FTSE Russell and the MSCI
Central Bank of the UAE
Sharjah Islamic Bank increases foreign ownership to 40 percent following regulatory approvals
Sharjah Islamic Bank has witnessed a noticeable and active improvement in the performance of its share price, with the increase of foreign ownership to 40 percent providing an additional incentive to promote the trading of the bank’s shares in local markets
Dubai Industrial City
UAE’s Operation 300bn, foreign ownership law change, are driving Dubai’s F&B industry to growth
Dubai Industrial City had an ‘amazing’ 2021 with 11 percent growth of its F&B zone’s leasable area, DI’s managing director said
foreign direct investment
Why Saudi economic zone has edge over competitors
Special economic zones, or economic free zones, have emerged in the GCC as a way to attract foreign direct investment, and where the other Gulf nations have established many – with over 40 in the UAE alone – Saudi Arabia is now establishing its first free zone
Abu Dhabi business
Abu Dhabi allows full foreign ownership for 604 classes of professional licenses
Foreign owners now may be fully licensed in fields such as accounting, training, consultancy, beauty centres, computer and internet network companies, and others
foreign investment
Saudi sports clubs now available for full foreign ownership
The Saudi Arabian sports economy has grown 174% in the last three years alone and its contribution to GDP has increased by 22%
Azizi Developments
More foreign firms pick the UAE as business confidence rebounds
Number of foreign companies operating in the UAE rose by 3.5% in December as industry stakeholders laud government efforts
Du
Shares in UAE telcos Du, Etisalat surge on plan to raise foreign ownership limit
Boards of both companies will discuss plan to seek to attract more overseas investment this week