Future Multifamily At 9009 West Loop S.

[Highrise Tower]

Former spot of Aramco Services Building. 17.2 acres for sale.  I wonder what will go in?

17.2-Acres For Sale At 9009 West Loop S.

If something big goes in, we can move this into the Going Up forum. 

http://www.cushmanwakefield.us/en/properties/s119411211-1

 

 

[Highrise Tower]

Saudi Aramco made $111 billion in 2018, topping Apple as the world’s most profitable company

Saudi Aramco is by far the most profitable company in the world, according to financial data disclosed by the state-run oil giant in Saudi Arabia.

The company made a whopping $111 billion in 2018, the data shows. By comparison, Apple made $59.53 billion in fiscal 2018. Saudi Aramco also made more money than J.P. Morgan Chase, Google-parent Alphabet, Facebook and Exxon Mobil combined. Put together, those companies made nearly $106 billion in 2018, according to FactSet.

Saudi Aramco made its financial information available in a prospectus for a $10 billion bond sale, which the company plans to use to finance a nearly $70 billion stake in Saudi Arabia’s petrochemicals company.

Despite Aramco’s massive earnings, the company did not receive the top credit rating from agencies like Moody’s since its heavy dependence on the country’s economy could be a headwind for the company. Moody’s issued an A1 rating for Aramco. Companies like Chevron and Exxon Mobil have ratings of Aa2 and Aaa, which are higher than Aramco’s.

https://www.cnbc.com/2019/04/01/saudi-aramco-made-111-billion-in-2018-topping-apple-as-the-worlds-most-profitable-company-by-far.html

[Urbannizer]

Tristen Real Estate planning multifamily apartments here. Maybe @IntheKnowHouston can dig up the address of the parcels purchased?

https://tritenre.com/projects/9009-west-loop-south

Quote

9009 West Loop South is 17-acre corporate campus, formerly the Aramco Services Company, located in Southwest Houston. The Property is located just east of Meyerland Plaza shopping and restaurants, and is within one of the most heavily traveled areas of the city with excellent access to Houston's inner loop and major thoroughfares. During the acquisition of the property, Triten had two parcels of the site under contract simultaneously within two different transactions. These two parcels totaled about 12 acres leaving Triten with 5 acres at the site with plans to develop in the future.