Saudi inflation rate eases to 2.9% in November
Saudi Arabia’s annual inflation rate eased to 2.9% in November from 3% in October, government data showed on Thursday, with price rises driven mainly by housing costs. Consumer prices increased slightly by 0.1% compared to October, Saudi Arabia’s General Authority for Statistics said. Housing rents rose by 5.4%, pushing the overall increase in housing, […]
Roshn acquires Riyadh Front, boosts footprint in Saudi capital
Roshn, a leading Saudi real estate developer powered by Public Investment Fund (PIF), has expanded its footprint in the capital by acquiring Riyadh Front’s shopping and business areas, located adjacent to its flagship development, Sedra. The purchase of existing commercial and retail space from Riyadh Front Company is a first for Roshn, and the latest […]
Saudi Arabia imports 12.4mln mobile devices in 2021
The size of the importing mobile communications devices market in Saudi Arabia exceeded SR20 billion in 2021, as 12.4 million devices have been imported, the Communications, Space and Technology Commission revealed. The statistics report issued by the commission clarified that among more than 53 million devices connected to the network, thre are 40 million smartphones. […]
Saudi’s Red Sea International bags $51mln contract to build housing complex in Al Ula
Red Sea International Co. has signed a contract with the Royal Commission for Al Ula (RCU) to develop an integrated housing complex in AlUla for 192.01 million Saudi riyals ($51.06 million), the company said in a statement published on the Saudi stock exchange. The 12-month contract includes the design, construction, supply and installation of modular, […]