Monthly Archives: March 2013

Saudi Arabia: Tracking rail progress

Vast stretches of desert once tracked by camel trains will soon be spanned by one of the world’s most modern and sophisticated transport systems, with Saudi Arabia now developing a countrywide rail network that underpins the government’s programme to diversify the economy. Data compiled by the Dubai-based news agency Zawya in late 2012 showed there […]

Saudi Jazan Economic City gets a royal boost

Custodian of the Two Holy Mosques King Abdullah has urged Saudi Aramco to complete the first phase of infrastructure projects for Jazan Economic City in order to woo investment and boost the region’s development. Jazan Gov. Prince Muhammad bin Nasser thanked King Abdullah for his efforts to develop the region and strengthen its economic position […]

Kuwait seeking advisers for two housing projects

Housing authority planning to develop 45,000 units Kuwait’s Public Authority for Housing Welfare (PAHW) is looking to appoint advisers on the development of two public-private partnership projects to develop thousands of new houses at an expected cost of several billion dollars. The first project is for the development of a low-cost housing scheme, and the second is […]

SAR35m revamp for Mubarak Hospital

After the completion of a SR 35 million refurbishment project, the Mubarak Hospital, described as one of the most modern health care facilities in the capital city, has officially reopened its doors for patients, following the permission given by the Ministry of Health (MOH). This new state-of-the-art private hospital located in the city center of […]

Saudi Arabia to drill for shale gas this year

Saudi Arabia will push ahead this year with exploratory drilling of shale and other unconventional gas reserves which could be twice the size of its conventional gas reserves, which total 286 trillion cubic feet, Saudi Minister of Petroleum and Mineral Resources Ali Al-Naimi said Monday during a Credit Suisse conference here. The Kingdom intends to […]

Maaden hopes to set the standard

Maaden hopes its $6bn phosphates city at Waad al-Shamal will emulate the success of Ras al-Khair As Saudi Arabian Mining Company (Maaden) prepares to tender four more packages for its proposed $6bn phosphates city at Waad al-Shamal, its reputation as a company that fast-tracks world-scale projects grows stronger. Maaden hopes the city in the north of […]

Qatar has region’s best non-oil sector growth

DOHA: Qatar’s high government capital spending on huge multi-year projects will continue to stimulate the country’s non-hydrocarbon sector, said the ratings agency Fitch in its latest “GCC Sovereign Credit Review”. With a projected 7.6 percent, Qatar has been forecast to have the highest growth rate in the real non-oil growth in the region. Qatar is […]

Saudi consumer confidence on the rise

RIYADH – Consumer confidence in the Kingdom of Saudi Arabia is steadily rising, the latest MasterCard Index of Consumer Confidence revealed Wednesday, with a score of 95.2 as compared to 90.9 in the previous edition of the Index released six months ago. Consumers in Saudi Arabia are ‘extremely optimistic’ in their overall consumer confidence score, […]

Maaden awards SAR1bn deal for Jubail housing project

Maaden has concluded a contract with Azmeel Contracting & Construction Company for the engineering, procurement and construction of a new housing project for Maaden employees. The SR 1 billion contract is for the first phase of the Mutrafiah Housing Project at Jubail Industrial City, which includes the construction of 800 villas, the first of which […]