Market Movements Now | Savola (2050) Hits 52W High; Real Estate Stocks Led Gains on Tadawul; GO Telecom (7040) Proposes SAR 0.35 Dividend
MASAR 4325.SA | 0.00 | |
SFICO 6050.SA | 0.00 | |
JABAL OMAR 4250.SA | 0.00 | |
ALRAJHI 1120.SA | 0.00 | |
SNB 1180.SA | 0.00 |
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TASI Mid-Market Update — June 24, 2026
Saudi Arabia's benchmark index (Tadawul All Shares Index(TASI.SA)) rose 0.1% in early trading on Wednesday. The market was buoyed by a 10% surge in Umm Al Qura for Development and Construction Co.(4325.SA) and a 5.3% jump in Jabal Omar Development Co.(4250.SA).
The upward movement comes following an announcement by the kingdom's real estate authority on Tuesday stating that it has begun accepting applications for foreign real estate ownership, which is part of an ongoing initiative to attract foreign investment into the kingdom.
Broadly, major Gulf stock markets experienced gains in early trading amid developments in U.S.-Iran negotiations following a first round of talks in Switzerland, despite lingering conflicting accounts from both nations regarding the framework agreement's specific terms.
In the large-cap sector, Al Rajhi Bank(1120.SA) is retreating by 1.05%. The Saudi National Bank(1180.SA) is holding steady. Saudi Arabian Mining Co.(1211.SA) is seeing a dip of 1%. ACWA POWER Co.(2082.SA) and Saudi Basic Industries Corp.(2010.SA) are both trading higher, moving 0.45% and 0.56% respectively. Saudi Arabian Oil Co.(2222.SA) is higher by 0.23%.
Notable News
+10% Limit-Up: MASAR (4325) Leads Saudi Property Rally as Cabinet Approves Non-Saudi Ownership Zones
Saudi Arabia's Cabinet approved on June 23, the executive regulations for the law that governs real estate ownership by non-Saudis, together with the geographic zones in which foreign individuals and entities may own property. The session was chaired by Custodian of the Two Holy Mosques King Salman bin Abdulaziz, the Saudi Press Agency (SPA) reported.
The regulations consist of 15 articles. They set out the steps non-Saudi individuals, companies, and non-profit entities must follow to acquire property, the fees that apply when non-Saudis dispose of real estate, and a framework that classifies violations of the law and its regulations.
Umm Al Qura for Development and Construction Co.(4325.SA) told Tadawul that its Masar Destination project in Makkah was included in the areas opened to non-Saudi ownership. The company said the inclusion is likely to widen the pool of eligible investors for the project, but that the financial impact cannot be determined at this stage, and that any material developments will be disclosed later.
GO Telecom Proposes SAR 0.35 Dividend
Etihad GO Telecom Co.(7040.SA) announced a board recommendation to distribute SAR 11.9 million in cash dividends for the fiscal year ended March 31, 2026. Eligible shareholders will receive SAR 0.35 per share, representing 3.5% of the share par value. The assembly meeting and distribution dates will be announced later.
Key Dividend Events
| Symbol | Announcement Date | Eligibility Date | Distribution Date | Dividend Amount |
|---|---|---|---|---|
| Kingdom Holding Co.(4280.SA) | 2026-06-22 | 2026-06-24 | 2026-07-09 | 0.27 |
| Qassim Cement Co.(3040.SA) | 2026-05-07 | 2026-06-08 | 2026-06-24 | 0.80 |
Related reads: When will users receive dividends?
New 52-Week High before 12:32 pm
| Symbol | 52W High Price |
|---|---|
| Savola Group(2050.SA) | 30.30 |
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Significant Volume Surge before 12:32 pm
Top Gainers before 12:32 pm
| Symbol | Price (SAR) | Change % |
|---|---|---|
| Umm Al Qura for Development and Construction Co.(4325.SA) | 18.28 | +8.81% |
| Saudi Fisheries Co.(6050.SA) | 58.40 | +7.45% |
| Saudi Arabia Refineries Co.(2030.SA) | 48.50 | +6.92% |
| Gas Arabian Services Co.(4146.SA) | 16.85 | +5.38% |
| Retal Urban Development Co.(4322.SA) | 12.51 | +4.6% |
Top Losers before 12:32 pm
| Symbol | Price (SAR) | Change % |
|---|---|---|
| Al-Rajhi Company for Cooperative Insurance(8230.SA) | 55.75 | -3.63% |
| Consolidated Grunenfelder Saady Holding Co.(4147.SA) | 6.76 | -3.15% |
| Albilad MSCI US Equity ETF(9406.SA) | 16.14 | -2.95% |
| Albilad MSCI US Tech. ETF(9407.SA) | 24.76 | -2.94% |
| Morabaha Marina Financing Co.(4082.SA) | 7.57 | -2.82% |