Saudi Ports Authority (SPA) and King Abdul Aziz Port plan to invest SR3.43bn ($914m) in port development to meet the growing demand on the kingdom’s major seaports, Arab News has reported. Among the proposed developments is a new container terminal at a cost of SR172.5m ($46m) to be built in Dheba Port, with two others […]
JEDDAH – The GCC (Gulf Cooperation Council) countries will continue to invest heavily in infrastructure and diversify their economies, thus boosting non-oil GDP growth, QNB said in a report. The study also noted that MENA (Middle East and North Africa) region is expected to grow between 3.5 percent and 4 percent this year and 4.5 […]
An expert here believes that the Kingdom is likely to spend all its oil on electricity in the country by 2031 if current consumption continues, and has called for an urgent program to harness solar energy. “There must be real work done to benefit from this alternative energy in the Kingdom in light of climat […]
JEDDAH – Governor Prince Mishal Bin Majed claimed that Jeddah will become one of the finest cities in the world in terms of performance and efficiency. “One day will come when all the citizens will get municipal services online without approaching the mayoralty in person. All officials are directly responsible with regard to serving the citizens […]
Emaar Properties has unveiled its newest residential development in the city. The Hills, envisaged as part of Emirates Living, the pioneering master-planned communities by Emaar, will stand out for its spectacular Golf-course views and a focus on a greener lifestyle through several energy and water efficiency initiatives. Overlooking the Emirates Golf Club, with easy access […]
Qatar has the world’s highest density of millionaires, with 143 out of every 1,000 households holding private wealth of at least $1mn, much higher than the global average, according to a report. Qatar also ranks fourth in the world by ultra-high-net-worth (UHNW) households, defined as households with more than $100mn in private wealth, with eight […]
JEDDAH – Investment in environmentally friendly building projects in Saudi Arabia is set is to reach SR100 billion (over $26 billion) across 76 projects, Faisal Al-Fadl, Secretary General of the Saudi Green Building Forum, told a Saudi Arabic newspaper. “Out of 76 projects, 43 are based in Riyadh,” he said. Green building is the practice […]
The Kingdom has witnessed staggering growth in the digital platform in the last couple of years, according to Mohamed El-Mehairy, managing director of Connect Ads. “Saudi Arabia is currently one of the largest digital markets in the Middle East and North Africa (MENA) region with one of the highest Internet populations, making it a highly […]
The Municipality of the Holy Places is proposing to build a 2-million-square-meter educational project by establishing a private university on the Makkah-Jeddah highway. The university will be built over a space of 2 million square meters with a cost of more than SR 20 million. The university comes within the major investment projects of the […]
Total assets of ‘Top 100’ Saudi companies rose by 35 percent from SR 2.29 trillion in 2009 to SR 3.1 trillion in 2013, Al-Eqtisadiah business daily reported yesterday in its annual supplement on Top 100 Saudi companies. The report showed the turnover of companies rising by 40 percent from SR 484 billion in 2009 to […]