Company Insights Red Sea Global Real Estate Red Sea Global News Construction PIF buys stakes in construction firms as Saudi boom continues Saudi Arabia’s Public Investment Fund (PIF) has spent $1.3 billion buying “significant” minority stakes in four local construction companies, the sovereign wealth fund said in a statement on Tuesday. The kingdom is enjoying a building boom, with projects valued at more than $1.1 trillion underway and a further $64 billion of construction contracts forecast to […] February 14, 2023 Construction Gulf project contracts to hit $110bn this year A combined $110 billion worth of project contracts are expected to be awarded in the GCC this year, with Saudi Arabia accounting for more than half of the total as it ramps up its Vision 2030 economic diversification plans. Saudi Arabia make up $64 billion of the combined value, followed by the UAE ($23 billion), […] February 1, 2023 Tourism Saudi outpaces neighbours as prime tourist destination In the space of only three years, Saudi Arabia has been transformed into the biggest Arab market for international tourists. Religious tourism has traditionally been one of the few ways visitors could enter the kingdom, with 2019 records revealing 9.5 million pilgrims visited the holy cities of Mecca and Medina between the Hajj and Umrah. […] January 26, 2023 Analysis Banking & Finance Bargain buys and law reforms tipped to drive deal-making When Oman Qatar Insurance and Vision Insurance signed a merger pact in December, it rounded off a busy year of M&A activity in the Middle East. The proposal, which is still subject to approval from regulators and shareholders, was one of hundreds of deals struck across the region. Global law firm Norton Rose Fulbright predicts […] January 25, 2023 Construction Red Sea Global secures $288m funding for Jumeirah project Red Sea Global (RSG) has secured $288 million in funding as part of a joint venture with Almutlaq Real Estate Investment Co. (AREIC) to develop Jumeirah The Red Sea on the west coast of Saudi Arabia. Gulf International Bank Saudi Arabia (GIB) provided the green financing, the developer said in a statement. “Achieving commercial close […] January 25, 2023 Analysis Tourism Gulf in sustainable tourism push as legislation looms When the first tourists arrive to experience the Red Sea Global sustainable tourism destination in Saudi Arabia later this year, they will touch down at an airport run entirely by renewable energy and designed to include shaded areas and natural ventilation that minimises reliance on air conditioning. They will continue their journey to a resort […] January 12, 2023 Sustainability Private sector key to tackling climate change, says tourism chief The world cannot expect governments to combat climate change alone and the private sector must step up and safeguard the future of the planet, according to John Pagano, CEO of Saudi’s Red Sea Global. Countries across the world are taking various measures to address climate change. In the Middle East, the UAE and Oman have […] December 30, 2022 Opinion Sustainability Private sector innovation will save our natural environment While politicians talk about curbing emissions, private sector innovations are actively driving the transition to renewable energy December 29, 2022 Opinion Development Roxana Mohammadian-Molina: Signposts on Saudi’s road to 2030 For UK companies doing business in Saudi Arabia and the ones that want to join them, the next year is all about Vision 2030 December 23, 2022 Analysis Banking & Finance UK and Saudi Arabia plant seed for closer ties on green finance Saudi Arabia has signed an agreement with the UK to foster greater cooperation on green finance as the kingdom looks increasingly at ethical funding for its transformative giga-projects. Jeremy Hunt, the UK’s chancellor of the exchequer, and Mohammed Al-Jadaan, the Saudi minister of finance, met on Tuesday in London to sign a memorandum of understanding […] December 23, 2022 Posts navigation Previous 1 … 6 7 8 Next
Construction PIF buys stakes in construction firms as Saudi boom continues Saudi Arabia’s Public Investment Fund (PIF) has spent $1.3 billion buying “significant” minority stakes in four local construction companies, the sovereign wealth fund said in a statement on Tuesday. The kingdom is enjoying a building boom, with projects valued at more than $1.1 trillion underway and a further $64 billion of construction contracts forecast to […] February 14, 2023
Construction Gulf project contracts to hit $110bn this year A combined $110 billion worth of project contracts are expected to be awarded in the GCC this year, with Saudi Arabia accounting for more than half of the total as it ramps up its Vision 2030 economic diversification plans. Saudi Arabia make up $64 billion of the combined value, followed by the UAE ($23 billion), […] February 1, 2023
Tourism Saudi outpaces neighbours as prime tourist destination In the space of only three years, Saudi Arabia has been transformed into the biggest Arab market for international tourists. Religious tourism has traditionally been one of the few ways visitors could enter the kingdom, with 2019 records revealing 9.5 million pilgrims visited the holy cities of Mecca and Medina between the Hajj and Umrah. […] January 26, 2023
Analysis Banking & Finance Bargain buys and law reforms tipped to drive deal-making When Oman Qatar Insurance and Vision Insurance signed a merger pact in December, it rounded off a busy year of M&A activity in the Middle East. The proposal, which is still subject to approval from regulators and shareholders, was one of hundreds of deals struck across the region. Global law firm Norton Rose Fulbright predicts […] January 25, 2023
Construction Red Sea Global secures $288m funding for Jumeirah project Red Sea Global (RSG) has secured $288 million in funding as part of a joint venture with Almutlaq Real Estate Investment Co. (AREIC) to develop Jumeirah The Red Sea on the west coast of Saudi Arabia. Gulf International Bank Saudi Arabia (GIB) provided the green financing, the developer said in a statement. “Achieving commercial close […] January 25, 2023
Analysis Tourism Gulf in sustainable tourism push as legislation looms When the first tourists arrive to experience the Red Sea Global sustainable tourism destination in Saudi Arabia later this year, they will touch down at an airport run entirely by renewable energy and designed to include shaded areas and natural ventilation that minimises reliance on air conditioning. They will continue their journey to a resort […] January 12, 2023
Sustainability Private sector key to tackling climate change, says tourism chief The world cannot expect governments to combat climate change alone and the private sector must step up and safeguard the future of the planet, according to John Pagano, CEO of Saudi’s Red Sea Global. Countries across the world are taking various measures to address climate change. In the Middle East, the UAE and Oman have […] December 30, 2022
Opinion Sustainability Private sector innovation will save our natural environment While politicians talk about curbing emissions, private sector innovations are actively driving the transition to renewable energy December 29, 2022
Opinion Development Roxana Mohammadian-Molina: Signposts on Saudi’s road to 2030 For UK companies doing business in Saudi Arabia and the ones that want to join them, the next year is all about Vision 2030 December 23, 2022
Analysis Banking & Finance UK and Saudi Arabia plant seed for closer ties on green finance Saudi Arabia has signed an agreement with the UK to foster greater cooperation on green finance as the kingdom looks increasingly at ethical funding for its transformative giga-projects. Jeremy Hunt, the UK’s chancellor of the exchequer, and Mohammed Al-Jadaan, the Saudi minister of finance, met on Tuesday in London to sign a memorandum of understanding […] December 23, 2022
