RIYADH: Saudi Arabia’s Tadawul All Share Index concluded Thursday’s trading session at 12,102.55 points, marking an increase of 25.24 points, or 0.21 percent. 

The total trading turnover of the benchmark index was SR5.55 billion ($1.47 billion), as 99 of the listed stocks advanced, while 131 retreated. 

The MSCI Tadawul Index also increased by 2.55 points, or 0.17 percent, to close at 1,517.16. 

The Kingdom’s parallel market Nomu reported increases, gaining 11.83 points, or 0.04 percent, to close at 31,005.69 points. This comes as 39 of the listed stocks advanced while as many as 43 retreated. 

The index’s top performer, Tihama Advertising and Public Relations Co., saw a 9.91 percent increase in its share price to close at SR16.86.  

Other top performers included Zamil Industrial Investment Co., which saw an 8.01 percent increase to reach SR35.05, while Al Yamamah Steel Industries Co.’s share price rose by 5.42 percent to SR36. 

AYYAN Investment Co. also recorded a positive trajectory, with share prices rising 4.99 percent to reach SR16. Fawaz Abdulaziz Alhokair Co. witnessed positive gains, with 4.49 percent reaching SR14.44. 

Arabian Cement Co. was TASI’s weakest performer, with its share price falling 5.81 percent to SR14.88. 

Riyadh Cement Co. followed with a 5.45 percent drop to SR30.35. Yamama Cement Co. also saw a notable decline of 5.26 percent to settle at SR33.35.  

Umm Al-Qura Cement Co. dropped 3.55 percent to SR17.94, while Methanol Chemicals Co. declined 3.03 percent to SR17.94, ranking among the top five decliners. 

In the parallel market Nomu, View United Real Estate Development Co. was the top gainer, with its share price surging by 22.64 percent to SR9.10. 

Other top gainers in the parallel market included Mulkia Investment Co., up 8.25 percent to SR40, and Enma AlRawabi Co., rising 6.67 percent to SR23.68. 

Naas Petrol Factory Co. and Meyar Co. were the other top gainers on the parallel market. 

Al-Modawat Specialized Medical Co. saw the largest decline on Nomu, with its share price slipping 8.05 percent to SR16. 

Naseej for Technology Co. fell 7.14 percent to SR65, while Saudi Azm for Communication and Information Technology Co. dropped 6.18 percent to SR28.10, ranking among the notable decliners on Nomu. 

On the announcement front, Al-Jouf Agricultural Development Co. said it has entered into a SR200 million Shariah-compliant bank facilities agreement with Banque Saudi Fransi to finance the company’s expansion plans and operational activities. 

Its share price closed at SR64.50, reflecting a 1.2 percent gain. 

Saudi Basic Industries Corp., or SABIC, announced that its Saudi affiliates have received official notification of increased feedstock prices, which is expected to affect the company’s production costs. 

SABIC’s shares closed at SR67.30, marking a decline of 0.59 percent. 

Sahara International Petrochemical Co., also known as Sipchem, received a notice from Saudi Aramco amending certain feedstock prices, effective Jan. 1. The financial impact is expected to result in a 2 percent increase in the total cost of sales, starting in the first quarter of the 2025 fiscal year. 

Sipchem’s shares ended the day at SR24.66, down 2.43 percent. 

National Agricultural Development Co., or NADEC, received a notification regarding an adjustment in fuel prices for its operational activities. The financial impact is estimated to result in a 1.5 percent increase in operating costs, to be reflected starting in the first quarter of fiscal year 2025. 

This change is expected to moderately raise production costs. NADEC’s shares closed at SR24.52, marking a 1.55 percent increase. 

RIYADH: The region’s first-of-its-kind residential mortgage-backed securities will be available in Saudi Arabia as the Kingdom seeks to enhance liquidity and expand investment opportunities in the real estate finance sector. 

A memorandum of understanding, signed between the Saudi Real Estate Refinance Co., a subsidiary of the Public Investment Fund, and Hassana Investment Co., seeks to diversify Saudi Arabia’s financial markets by introducing an innovative asset class. 

The issuance of mortgage-backed securities is anticipated to attract a wide base of local and global investors to the secondary mortgage market, creating new opportunities for investment in the sector. 

Majeed Al-Abduljabbar, CEO of SRC, said: “Our partnership with Hassana marks a significant milestone in supporting the evolution of the housing finance landscape and fostering the development of Saudi Arabia’s capital markets.” 

He added: “Together, we aim to introduce innovative financial solutions that deliver value to both investors and citizens while aligning with Vision 2030’s objectives.” 

The deal, signed in the presence of Majid Al-Hogail, minister of municipalities and housing, and Mohammed Al-Jadaan, minister of finance, aligns with the Housing Program and Financial Sector Development Program under Vision 2030. 

“This collaboration establishes a new standard for partnerships, enabling the development of scalable financial solutions that contribute to the Kingdom’s economic development goals. It aligns with Hassana’s strategy of diversifying its investment portfolios through long-term partnerships with entities like SRC,” said Saad Al-Fadhli, CEO of Hassana. 

Hassana’s participation as a key institutional investor underscores the potential to create sustainable economic investment opportunities. 

This comes as the Kingdom’s real estate market continues to show strong demand, with annual growth in residential sales transaction volumes across major metropolitan areas. 

Saudi banks’ mortgage lending hit a near three-year high of SR10.06 billion ($2.7 billion) in November, marking a 51.23 percent year-on-year increase and the highest monthly amount in over two years, according to data from the Kingdom’s central bank.

This surge reflects strong activity in the housing market, with houses accounting for 65 percent of the loans, followed by apartments at 31 percent and land purchases at 4 percent. 

As part of its Vision 2030 agenda, the Kingdom is fast-tracking residential construction, particularly in Riyadh, to accommodate its growing population and attract international talent.