Saudi Arabia comprises more than half of the GCC Islamic finance market in terms of Islamic assets and represents a far greater percentage of the sharia-compliant syndicated and project financing market. With Islamic syndicated loans in the first five months of 2012 surpassing the full 2011 figures largely on the back of Saudi mega-deals, this...
As governments work to realign their development plans with current economic realities, and investors reshape business models with the same aim, the GCC construction sector offers a useful example of the importance of taking stock and moving on. While many construction markets in the Middle East have stalled in recent years, Saudi Arabia’s...
Meetings, incentives, conferences and events (MICE) is one of the niches with the highest potential for bringing non-pilgrim foreign arrivals to the Kingdom. “MICE is a high-yield sector and we are working with the Ministry of Commerce and Industry to make Saudi Arabia one of the major MICE locations in the Middle East,” Abdullah Al Jehani, the...
In 2012 the Saudi government allocated SR86.2bn ($23bn) to health and social affairs, the largest amount in its history. Upgrading the health sector has become part of the country’s social strategy as it strives to accommodate the needs of a growing population expected to reach 32.8m by 2016.
Given the strong demand for housing in Saudi Arabia, other segments of the real estate market are often overlooked. However, as with the residential market, the fundamental demand conditions seem to favour growth across all segments of the market. While it has been a tough 24 months for the office sector, long-term development prospects look...
Like many other nations looking to diversify their economies, Saudi Arabia has chosen to take advantage of its natural resources to fuel development. Yet this economic growth is not without consequences. These heavy industries, including petrochemical factories, oil refineries and mineral smelters, all have associated environmental costs in the long run.
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