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 […]
In opening remarks at the first session of the Jeddah Economic Forum (JEF), Abdullah Sadiq Dahlan, member of the JEF’s organizing committee and chairman of the board of trustees at the University of Business and Technology, warned of an imminent threat of a housing crisis exploding in the Kingdom over the coming years in the […]
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 […]
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 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 […]
The ICT (information and communication technology) is all set for a very positive growth, both in Saudi Arabia and elsewhere in the Middle East & North Africa (MENA) region. “We see a very positive growth, thanks to new technologies,” Audai Altaie, regional head of enterprise business, Enterprise Business Group, MENA HQ of Samsung Electronics, told […]
RIYADH – Prince Khaled Bin Bandar, Emir of Riyadh region, has said that studies and preparations for introducing public transport system for the capital city are in full swing. “The system, which consists of networks of trains and buses, will ease traffic flow and put an end to congestion,” he said. The Emir was speaking […]
The Riyadh Development Authority (RDA) yesterday approved a comprehensive plan to overhaul the capital city, keeping wide, open areas in the city center and building a ring road around them. “The project will bring about a facelift of downtown Riyadh and make it an outstanding historic, administrative, economic and cultural center in the Kingdom,” said […]
Young people looking for reasonably priced flats in Jeddah are seeing their dreams dashed as rents continue to soar, with two- and three-bedroom apartments now fetching SR 30,000 and up. There is an acute housing shortage in Jeddah. Real estate agents say that available housing units in the city do not exceed five percent of […]
The Saudi Electricity Company (SEC) has signed three contracts worth a total of SR986.7 million to strengthen the power grid in Makkah, Jeddah and Madinah in the western region. Eng. Ali Al-Barak, CEO of the company, said that the contracts, which include setting up of transmission lines and underground cables, were awarded to Saudi companies. […]