Company Insights Roshn Real Estate Roshn News Giga-projects Saudi construction contracts balloon since 2015 Saudi Arabia has signed off on $78 billion of construction projects so far this year, up 42 percent from $54.5 billion in 2015, just before the announcement of the Vision 2030 project. The statistics, provided by the Saudi Contractors Authority (Scavo), show the total value of ongoing projects as of the end of October at […] November 7, 2023 Oil & Gas Saudi GDP shrinks following oil output cuts Real GDP growth in Saudi Arabia contracted by 4.5 percent in the third quarter, as ongoing Opec+ oil output cuts affect the broader economy. Government data released this week showed oil activities decreased by 17.3 percent in the third quarter from a year earlier. However the General Authority for Statistics said there was an expansion […] October 31, 2023 Analysis Giga-projects Saudi construction under pressure to deliver on its promise The Saudi construction sector is growing as the state showers money on giga-projects while oil prices are high, but the industry is under increasing government pressure to deliver, industry players say. A market that was previously dominated by favoured government contractors such as Binladin Group and the now defunct Saudi Oger has been liberalised. This […] October 30, 2023 Finance PIF’s sukuk may test investor appetite for Middle East Saudi Arabia’s Public Investment Fund is planning to issue its first dollar-denominated Islamic bonds, but the move could be a test of investor appetite as regional tensions rise over the conflict in Gaza. Citi, HSBC, JP Morgan and Standard Chartered Bank have been nominated as global joint co-ordinators to organise a series of investor calls […] October 17, 2023 Tourism $1bn tourism school to open in Saudi’s Qiddiya Saudi Arabia plans to build a $1 billion tourism school in the Qiddiya sports, culture and entertainment city giga-project. The Riyadh School for Tourism and Hospitality will train workers from around the world, not only Saudi Arabia, tourism minister Ahmed Al-Khateeb told a UN World Tourism Organization gathering in the capital. The training headquarters at […] September 27, 2023 Development Saudi Arabia to begin preparing Vision 2040 Saudi Arabia is to begin working on the next phase of its economic diversification plan known as Vision 2030 and hopes to unveil its Vision 2040 as early as 2027, Crown Prince Mohammed bin Salman said in an interview this week. “Today we’re trying to close a few things, we’re aiming to close in the […] September 22, 2023 Construction Roshn awards $2.4bn contracts for Saudi projects Roshn, a real estate developer backed by Saudi Arabia’s Public Investment Fund, has finalised four major commercial agreements with local and global companies valued at over SAR9 billion ($2.4 billion). The agreements cover construction, infrastructure and fittings for Roshn’s developments across the kingdom. The largest was a SAR 7.7 billion construction contract with engineering contractor […] September 11, 2023 Banking & Finance Saudi banks face slowdown as giga-projects take toll Saudi banks are witnessing a slowdown, impacting liquidity, net profits and share price across the sector, as the pressure of funding the kingdom’s giga-projects takes its toll, analysts say. Growth in net profit at the top ten banks slowed to 0.3 percent in the second quarter and the Saudi index of bank stocks fell 18.8 […] September 8, 2023 Giga-projects Saudi Arabia reveals latest giga-project with 11km canal Saudi Arabia has announced its latest giga-project with plans to develop an 11-kilometre-long canal north of Jeddah. The mixed-use waterfront destination, which will be home to over 130,000 residents, will be developed by Roshn Group in partnership with the kingdom’s Public Investment Fund. To be known as Marafy, the project includes the first manmade canal […] August 29, 2023 Real Estate Saudi’s new mortgage scheme to encourage homebuyers Saudi Arabia has launched a new mortgage guarantee services firm in an effort to increase home ownership among nationals. The Saudi Real Estate Development Fund (REDF) has launched Dhamanat, a wholly owned subsidiary, with SAR18 billion ($4.7 billion) in capital to provide insurance, alongside mortgages. Mortgage issuance fell by more than one third year-on-year in […] July 14, 2023 Posts navigation Previous 1 … 3 4 5 Next
Giga-projects Saudi construction contracts balloon since 2015 Saudi Arabia has signed off on $78 billion of construction projects so far this year, up 42 percent from $54.5 billion in 2015, just before the announcement of the Vision 2030 project. The statistics, provided by the Saudi Contractors Authority (Scavo), show the total value of ongoing projects as of the end of October at […] November 7, 2023
Oil & Gas Saudi GDP shrinks following oil output cuts Real GDP growth in Saudi Arabia contracted by 4.5 percent in the third quarter, as ongoing Opec+ oil output cuts affect the broader economy. Government data released this week showed oil activities decreased by 17.3 percent in the third quarter from a year earlier. However the General Authority for Statistics said there was an expansion […] October 31, 2023
Analysis Giga-projects Saudi construction under pressure to deliver on its promise The Saudi construction sector is growing as the state showers money on giga-projects while oil prices are high, but the industry is under increasing government pressure to deliver, industry players say. A market that was previously dominated by favoured government contractors such as Binladin Group and the now defunct Saudi Oger has been liberalised. This […] October 30, 2023
Finance PIF’s sukuk may test investor appetite for Middle East Saudi Arabia’s Public Investment Fund is planning to issue its first dollar-denominated Islamic bonds, but the move could be a test of investor appetite as regional tensions rise over the conflict in Gaza. Citi, HSBC, JP Morgan and Standard Chartered Bank have been nominated as global joint co-ordinators to organise a series of investor calls […] October 17, 2023
Tourism $1bn tourism school to open in Saudi’s Qiddiya Saudi Arabia plans to build a $1 billion tourism school in the Qiddiya sports, culture and entertainment city giga-project. The Riyadh School for Tourism and Hospitality will train workers from around the world, not only Saudi Arabia, tourism minister Ahmed Al-Khateeb told a UN World Tourism Organization gathering in the capital. The training headquarters at […] September 27, 2023
Development Saudi Arabia to begin preparing Vision 2040 Saudi Arabia is to begin working on the next phase of its economic diversification plan known as Vision 2030 and hopes to unveil its Vision 2040 as early as 2027, Crown Prince Mohammed bin Salman said in an interview this week. “Today we’re trying to close a few things, we’re aiming to close in the […] September 22, 2023
Construction Roshn awards $2.4bn contracts for Saudi projects Roshn, a real estate developer backed by Saudi Arabia’s Public Investment Fund, has finalised four major commercial agreements with local and global companies valued at over SAR9 billion ($2.4 billion). The agreements cover construction, infrastructure and fittings for Roshn’s developments across the kingdom. The largest was a SAR 7.7 billion construction contract with engineering contractor […] September 11, 2023
Banking & Finance Saudi banks face slowdown as giga-projects take toll Saudi banks are witnessing a slowdown, impacting liquidity, net profits and share price across the sector, as the pressure of funding the kingdom’s giga-projects takes its toll, analysts say. Growth in net profit at the top ten banks slowed to 0.3 percent in the second quarter and the Saudi index of bank stocks fell 18.8 […] September 8, 2023
Giga-projects Saudi Arabia reveals latest giga-project with 11km canal Saudi Arabia has announced its latest giga-project with plans to develop an 11-kilometre-long canal north of Jeddah. The mixed-use waterfront destination, which will be home to over 130,000 residents, will be developed by Roshn Group in partnership with the kingdom’s Public Investment Fund. To be known as Marafy, the project includes the first manmade canal […] August 29, 2023
Real Estate Saudi’s new mortgage scheme to encourage homebuyers Saudi Arabia has launched a new mortgage guarantee services firm in an effort to increase home ownership among nationals. The Saudi Real Estate Development Fund (REDF) has launched Dhamanat, a wholly owned subsidiary, with SAR18 billion ($4.7 billion) in capital to provide insurance, alongside mortgages. Mortgage issuance fell by more than one third year-on-year in […] July 14, 2023
