The power and water sectors are experiencing a massive boom in Saudi Arabia, according to Abdulrahman Almutari, head of privatization at the National Water Company . He stated that over SR 50 billion will be invested in water and wastewater projects from 2013-2017. Speaking at the 1stday of the 9th Water, Electricity and Power Generation Conference […]
JEDDAH — Dutch brand Bavaria’s 0.00% non-alcoholic malt drink is now available in the Kingdom, with the brand formally launching the drink at a function held at Park Hyatt Hotel recently. The brand has also launched a communication campaign specific to the country, and has begun distributing the drink in local grocery stores. Peer Swinkles, […]
JUBAIL – Ma’aden has signed a SR1 billion contract for the first phase of a new housing project for its employees. The Mutrafiah Housing Project at Jubail Industrial City includes the construction of 800 villas, the first of which will be available for occupancy in late 2014. In its entirety, the project will include 3,600 […]
RIYADH — Emir of Eastern Province Prince Saud Bin Naif will inaugurate a host of health projects worth SR1 billion in Hafr Al-Batin and the surrounding regions on Thursday. Minister of Health Dr. Abdullah Al-Rabeeah will join the Emir in the opening ceremony in the city close to the Kuwaiti border. Director of Health Affairs in […]
Saudi Arabia’s real GDP is estimated to have expanded 6.8 percent in 2012, according to Global Investment House’s review of the Saudi economy. Following the record oil production seen in 2012, the government has resorted to strong fiscal stimulus measures and greater investment in infrastructure projects. However, GDP growth is expected to lower to 4.4 […]
Dubai: In a major drive to further improve the infrastructure of the city, Dubai Municipality has launched 10 major projects to be completed at various dates in the next couple of years. The projects, at a cost of Dh883.5 million, include the Dubai Safari, traditional souqs, a new fish market, birds and animal market as […]
Saudi Arabia had the world’s third largest financial reserves after China and Japan at the end of 2012 following a sharp rise in the Gulf kingdom’s assets in 2012 because of higher oil prices and output, according Saudi newspaper. The country’s cash and gold reserves, controlled by the Saudi Arabian Monetary Agency ( Sama ), central bank, surged […]
A number of cities in the kingdom of Saudi Arabia are pushing forward with plans to develop metro networks. The number of pilgrims visiting Saudi Arabia for hajj or umrah pilgrimages is set to boom in the coming years and will place unique pressures on the country’s transport infrastructure. More than 3 million pilgrims visited the kingdom […]
Bahrain’s Al-Areen project is renewing its momentum with an upgrade of existing hospitality and leisure infrastructure, and the introduction of new facilities. Senior executives from Al-Areen Holding Company made this announcement at an investors’ seminar held at Al-Areen’s Client Relations Center. Esam Janahi, representing the owners, unveiled a partnership with US firm Avenue Ventures (AV) […]
Commerce and Industry Minister Tawfiq Al-Rabiah has approved the establishment of a new East Asia Agricultural Development and Investment Company with a capital of SR 100 million. The new company is based in Riyadh as a closed joint stock entity and 70 percent of its capital has already been paid up by its founding members. […]