First Avenue Real Estate Development, one of Scene Holding’s valued investments, is thrilled to announce the launch
of its initial public offering (IPO) on the Nomu – Parallel Market. With Alkhair Capital as the financial advisor and IPO
manager, the book-building period will take place from September 10 to September 16, 2024, with a price range set
between SAR 5.7 and 6.0 per share.
A Milestone for the Saudi Real Estate Sector
This IPO marks a significant step forward for First Avenue and underscores Scene Holding’s commitment to fostering
transformative investments. The IPO is expected to enhance economic resilience and unlock substantial value within
Saudi Arabia’s real estate sector, aligning with Vision 2030’s objectives to promote growth and innovation across the
Kingdom.
Strengthening Saudi Arabia’s Economic Landscape
Scene Holding proudly supports First Avenue’s journey as it opens new avenues for public investment, strengthens its
market position, and advances economic growth in Saudi Arabia. This IPO serves as a testament to Scene Holding’s
mission of backing ventures that drive long-term progress and contribute to the Kingdom’s Vision 2030.
This exciting milestone reflects First Avenue’s growth trajectory and highlights its potential to shape the future of Saudi
Arabia’s real estate industry.
