Saudi Arabia forms new committee to spur private sector role in petrochemicals
Saudi Arabia has established its first-ever national committee for energy and petrochemicals under the Federation of Saudi Chambers, aimed at enhancing private sector participation in these key industries. With investments in the petrochemical sector expected to reach $600 billion by 2030, the committee will work closely with government ministries, regulatory authorities, and major companies to […]
Saudi Arabia’s non-oil exports surge 16.8% in Q3: GASTAT
Saudi Arabia’s non-oil exports reached SR79.48 billion ($21.17 billion) in the third quarter of 2024, a rise of 16.76 percent compared to the same period in 2023, according to official data. As reported by the General Authority for Statistics, the Kingdom exported non-oil goods worth SR19.58 billion to the UAE, followed by India and China […]
Saudi NHC to build 10,000 new residential units in Riyadh region
Saudi Arabia’s National Housing Company has announced the launch of 11 key residential projects in Khuzam area of capital Riyadh featuring over 10,000 units – ranging from luxurious villas to contemporary apartments – thus catering to different clients’ needs. These developments, including modern designs, are part of NHC’s strategic push to diversify housing supply and […]
Diriyah unveils plans for mega districts within $63bn project
Diriyah Company, a dynamic mixed-use developer transforming Saudi Arabia’s historic birthplace into a vibrant new capital of culture and entertainment destination, today (November 20) unveiled details of two high profile developments – Qurain Cultural District and Northern District – to be developed within its $63.2 billion Diriyah project, on the outskirts of Saudi capital Riyadh. […]
SEC, Acwa Power, Kepco sign $4bn Saudi power purchase deal
Saudi Electricity Company (SEC), Acwa Power, and Korea Electric Power Corporation (Kepco) have announced the signing of a Power Purchase Agreement with Saudi Power Procurement Company (SPPC) for two transformative power generation projects: Rumah 1 and Nairyah 1. With a combined capacity of 3.6 GW, these Independent Power Plant (IPP) projects represent a significant advancement […]
Saudi Arabia raises $910m in November sukuk offering
Saudi Arabia’s National Debt Management Center has completed its riyal-denominated sukuk issuance for November, raising SR3.41 billion ($910 million), a 28.19 percent year-on-year increase. In October, the Kingdom issued sukuk worth SR7.83 billion, while the figures for September and August were SR2.6 billion and SR6.01 billion, respectively. Sukuk, also known as Islamic bonds, are Shariah-compliant […]
Saudi Arabia, China, Iran meet to advance Beijing Agreement
The second meeting of the Saudi-Chinese-Iranian Joint Tripartite Committee to follow up on the Beijing Agreement was held in Riyadh on Tuesday, the Saudi Press Agency reported. Saudi Deputy Foreign Minister Waleed bin Abdulkarim Elkhereiji chaired the meeting, with Vice Foreign Minister of China Deng Li and Iran’s Deputy Foreign Minister for Political Affairs Majid […]
Saudi Arabia’s National Housing Co. launches 11 residential projects in Riyadh’s Khuzam area
Saudi Arabia’s National Housing Co. has launched 11 projects in Riyadh’s Khuzam area, offering over 10,000 units to meet growing demand for quality housing in the Kingdom. These developments, including modern designs, are part of NHC’s strategic push to diversify housing supply and address the varied needs of Saudi families. The projects range from luxurious […]
Saudi Arabia foreign minister urges a balanced energy transition at G20 Summit session
Saudi Arabia’s foreign minister highlighted the importance of a balanced, inclusive approach to energy transition while ensuring global energy security and sustainable development at a Group of 20 session on Tuesday, Saudi Press Agency reported. Prince Faisal was leading the Kingdom’s delegation during a session titled “Sustainable Development and Energy Transition,” SPA added. Energy security […]
Seef Properties enters into partnership with Majd Investment
Seef Properties, the largest integrated developer of retail and entertainment destinations in the Kingdom of Bahrain, has formed a strategic partnership with Saudi-based investment company, Majd Investment Company to work on a mixed-use project in Dammam. The project, valued at around $132 million (BD50 million), marks Seef Properties’ inaugural venture in Saudi Arabia. The announcement […]