Amna Assem

Saudi real estate developer View United, listed on the Saudi Stock Exchange’s parallel market “Nomu”, plans to issue local bonds denominated in riyals, according to a statement sent to the exchange on Tuesday.

View United was founded in 2011 and has been trading on the parallel market “Nomu” since December 2023 after an initial public offering. It seeks to move to the main market. The company specializes in real estate development and leasing of residential and commercial properties, and operates only within Saudi Arabia, with its business concentrated in Riyadh and Jeddah.

According to the statement, the offering is valued at 10 million Saudi riyals ($2.7 million) in installments, in order to support the company’s operational needs and projects.

Sukuk Financial Company has been appointed as the sole arranger, to establish the potential program, and to issue and offer the sukuk under it, which will be through a private placement.

According to the company’s latest financial data, net profits for 2025 increased by about 1.9% year-on-year, to reach about 21.6 million riyals, as a result of improved operational performance of the company’s core business of increasing land sales revenues.

(Prepared by: Omnia Assem, Edited by: Shaimaa Hefzy, Contact: zawya.arabic@lseg.com)

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