Total Industrial investments in the GCC have jumped from $81 billion in 1998 to $338 billion in 2012. The Gulf Organization for Industrial Consulting ( GOIC ) revealed some figures about the progress of industrial activities in GCC countries. The number of firms in the GCC jumped from 7,089 in 1998 to 15,165 in 2012. The number of workers […]
RIYADH – Saudi Arabia is currently overseeing the largest electrical supply expansion plan in the Middle East to meet the rising demand for power driven primarily by steady population growth, a rapidly expanding industrial sector, surging air conditioning requirements, and heavily subsidized electricity rates. In order to stay ahead of the demand curve, the Kingdom […]
The Saudi construction market, which captures 40 percent of the GCC market, is expected to award construction projects worth $90 billion (SR 337.5 billion) in 2014, local media said quoting a study prepared by a British financial firm. The study, disclosed at the Big Five International building & Construction Show, Dubai, said the value of […]
Riyadh, with SR99 billion real estate transactions, has ranked as the most sought-after city in the Kingdom. The capital city outweighs Jeddah, which had recorded more than SR90 billion of real estate transactions as per the real estate index issued by the Ministry of Justice. The real estate sector has revealed the positive impact of […]
Around 70 percent of Riyadh will have a rain drainage network in the next three years. Currently, only 26 percent of the city contains such an infrastructure, said Riyadh Mayor Abdullah Al-Miqbil. Al-Miqbil said 22 percent of the city is currently having rain drainage systems installed and that 48 percent will be covered within one […]
JEDDAH – Saudi Minister of Water and Electricity Abdullah Al-Hussayen disclosed Sunday that the government will spend around SR110 billion on new projects to improve water and power infrastructure. In his speech during the inauguration of the Saudi Water and Power Forum 2013 at the Hilton Jeddah, he also said the ministry will sign projects […]
The cement industry in Saudi Arabia and Kuwait is expected to flourish due to the current construction boom in GCC region where the total value of projects planned or underway is estimated at $2.3 trillion, according to Kuwait Finance House ( KFH ). The weekly economic report of KFH , also known as Baitak, said government support has been a key […]
MUSCAT — Global Islamic banking assets with commercial banks reached $1.54 trillion in 2012, according to EY’s Global Islamic Banking Center. This includes both Islamic banks and Islamic windows of conventional banks. The annual growth of the industry remains at 16 per cent (5-year CAGR) which is faster than the growth of conventional banking system […]
RIYADH – The Kingdom of Saudi Arabia is expected to become the world’s third largest exporter of petrochemical products with its market share poised to reach 10 percent by 2015. Saudi plastics and petrochemical exports grew from less than $500 million in 1985 to $22 billion in 2011. Moreover, the outlook for domestic plastics and […]
The Saudi construction market, the most valuable market in the GCC at present, is valued at $495 billion, including projects currently under way and those confirmed and in pre-execution stage. Local companies, including Saudi Basic Industries Corporation (SABIC), Saudi Pipes Company and Saudi Export Development Authority, will be taking advantage of the opportunity to showcase […]