Saudi Arabia is furthering plans to create the world’s largest sovereign wealth fund and use it as a vehicle for driving economic growth, a move that will have a far-reaching impact on regional and global markets.
Saudi Arabia
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Last month Saudi Arabia’s General Authority of Zakat and Tax (GAZT) released the final implementing regulations to legislation governing the new GCC-wide value-added tax (VAT).
To what extent do you expect future growth in the housing market to be supported by mortgage finance?
A project to transform a large area of the Red Sea coast into a luxury tourism destination has been announced as part of the Kingdom’s plans to diversify its tourism offerings, attract investment and expand the sector’s role in the economy.
The government is stepping up investment in transport infrastructure in Saudi Arabia, fast-tracking key projects and creating new opportunities for service providers.
Moves to privatise utilities assets in Saudi Arabia and expand the reach of its networks through increased investment should create new opportunities for private operators and service providers.