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 […]
With the Kingdom’s massive $80 billion investment in infrastructure initiatives including new seaports, airports, railways and train stations, metro systems, and bus and road systems new real estate opportunities have been created in the market promising to change the property market landscape in the Kingdom. To gain better understanding of the changing requirements and new […]
JEDDAH – The water and wastewater treatment chemicals market in the Gulf Corporation Council (GCC) is making considerable headway as the dire water shortage has lent momentum to water treatment activities. Industrial water reuse schemes and stringent desalination requirements are further necessitating the deployment of high-quality treatment chemicals as a means to boost operational efficiency, […]
RIYADH – With the recent announcement of the Saudi government to allocate a social benefit package of SR 487.5 billion for the development of housing, infrastructure and transport in the Kingdom, the construction sector is set to see a surge driven by increasing private and public investments. The government has earmarked a total of SR […]
The contractor responsible for implementing the Taif-Makkah-Riyadh road link has said that the project would take a year to complete. Ahmad Abdul Ghafoor, the engineer in charge of the project, said: “We are still in the early stages. The first part of the work involves laying down an 8-km section of the road. We have […]