STO board approves entry into real estate business

STO's Board has approved the company's entry into real estate, with plans to explore property development, commercial leasing, mixed-use developments and infrastructure-related projects.

Mohamed Hilmy

28 October 2026, 14:54

STO’s Board of Directors has approved the company’s entry into the real estate business as part of efforts to diversify its business portfolio.

The company said its Board of Directors has approved the move, with the new business area expected to focus on property development, commercial leasing, mixed-use developments and infrastructure-related real estate projects.

The real estate business will be managed through the STO Construction Solutions and Real Estate Department.

STO said the move supports its strategy of diversifying its operations while pursuing commercially sustainable infrastructure and property opportunities.

The Board's decision does not currently involve any binding financial commitment by the company.

Any specific project, investment, funding arrangement or other material commitment will be subject to further assessments, approvals and applicable governance processes, STO said.

STO already operates across several business areas including consumer goods, healthcare, construction, energy, bunkering, shipping, insurance and gas. Its existing Construction Solutions business supplies building materials and construction-related products and services.

The company said further disclosures will be made to shareholders and the market if material developments arise from the real estate initiative.

STO board approves entry into real estate business

Leave a comment

Comments

Latest News