JEDDAH: Saudi Arabia’s housing sector has strengthened its international partnerships by signing five key agreements on real estate development and financing with major US companies. The deals aim to enhance the Kingdom’s mortgage refinancing market, expand property funding, and attract foreign investments. The country’s housing program has transformed the sector by expanding financial access, streamlining…
RIYADH: Saudi Arabia’s real estate price index edged up by 1.7 percent in the second quarter of 2024, compared to the same period last year, driven by a surge in residential sector costs, official data showed. According to the General Authority for Statistics, housing sector prices increased by 2.8 percent year-on-year in the second quarter,…
RIYADH: Saudi and South Korean companies signed 10 agreements spanning construction, energy and health sectors on the sidelines of a business forum in Seoul on Tuesday. Contracting, sustainability, and food were also covered by the deals, inked at an event attended by Saudi Minister of Commerce Majid Al-Qasabi. The Saudi-Korean Business Forum hosted more than…
RIYADH: The Saudi national workforce is set to receive a 20 percent boost in financial support for nearly 98 jobs and activities within the municipal and housing sectors. The Ministry of Municipalities and Housing, in collaboration with the Human Resources Development Fund, announced an increase in the financial aid percentage for the Employment Support Program…
Muscat: Bank Muscat Money Market Fund, Oman’s first money market fund, has accomplished a momentous milestone with its assets under management (AUM) crossing OMR155 million mark as on 2nd July 2024, recording AUM growth of over 170 percent during 2024. The Fund continues to retain its top position as the largest open-ended mutual fund in Oman….
Muscat: The North Al Sharqiyah Governorate experienced a vibrant tourism boom from October to March, 2024, with hotel room occupancy rates soaring between 60% and 90% during the peak season. The region’s burgeoning tourism sector boasts 47 tourist facilities, offering a combined total of 1,044 hotel rooms across the governorate. Mohammed bin Saif Al Riyami, Head…
RIYADH: Saudi e-commerce sales using Mada cards reached SR14.11 billion ($3.76 billion) in February – an annual increase of 25 percent, the Kingdom’s central bank has revealed. This figure includes transactions through online shopping, in-app purchases and e-wallets, and excludes transactions by Visa, MasterCard and other credit cards. Mada serves as Saudi Arabia’s national card payment…
RIYADH: Saudi low-cost airline flynas has signed a deal to purchase 160 Airbus aircraft, doubling the volume of its orders to 280 planes. The “landmark agreement,” signed at the UK’s Farnborough International Airshow, includes an order of 30 wide-body A330neo aircraft and 130 narrow-body A320 family aircraft, the carrier said in a statement. This falls…
RIYADH: Food production localization and aviation were areas of focus as a senior Saudi minister met with leading Brazilian companies during a trip to the South American country. The Kingdom’s Minister of Industry and Mineral Resources, Bandar AlKhorayef, held talks with executives from Minerva Foods and JBS, which are prominent in the red meat and…
RIYADH: Saudi Arabia completed its riyal-denominated sukuk issuance for July at SR3.21 billion ($855.7 million), according to the National Debt Management Center. The level once again remained above SR3 billion, following a June issuance level of SR4.4 billion, SR3.23 billion in May, SR7.39 billion in April, and SR4.4 billion in March. NDMC revealed that the Shariah-compliant…
