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 […]
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 […]
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 […]
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 […]
Abu Dhabi: The 2,177-km-long GCC rail network, which will link all six Gulf states by rail for the first time, providing an alternative to air or sea travel for both goods and passengers in the region, will be fully operational in 2018, said Dr Ramiz Al Assar, World Bank resident adviser of the GCC Secretariat […]
Saudi Arabia and the People’s Republic of China enjoy a comprehensive and in-depth development of bilateral relations and fruitful economic cooperation, especially in the fields of trade, energy and infrastructure. The strong relationship is moving forward steadily since the diplomatic ties were established in 1990. A major diplomatic visit between the Kingdom and China was […]
The Council of Saudi Chambers of Commerce and Industry (CSCCI) has urged the Ministry of Commerce and Industry to link industrial cities with gas lines and rail networks in the Kingdom. Members of the CSC made their request during a meeting with Walid Abu-Khalid, undersecretary to the Ministry of Commerce and Industry , in Riyadh last week. Saad Al-Moajil, […]
JEDDAH – Dubai real estate developer Damac Properties has handedSaudi Binladin Group ( SBG ) a SR353 million ($96 million) to construct a luxury housing project located on King Fahad Road, Riyadh. The work will be completed by Binladin subsidiary Haramain Gate for Construction, the main construction contract for Damac’s Esclusiva Luxury Serviced Apartments. The 150m tower will include 100 […]