The ambitious $500bn mega-city NEOM — derived from the Greek word neo (new) and the Arabic word mustaqbal (future) — project is an energiser for the construction sector and provides a promising longterm pipeline of opportunities for investors. These include Qiddiya, an $8bn entertainment complex three times the size of...
In 2018 consolidation marked Saudi Arabia’s construction sector, following a difficult 2017 when the government shelved or paused many unfinished projects. Growth in 2018 was modest at around 4% and the value of contracts awarded was still well below the record years of 2013 and 2014. The year also saw the fall of one of the country’s largest...
The aviation sector is experiencing rapid growth worldwide, propelled by booming tourism industries, lower air fares and the push for greater connectivity in an increasingly globalised economy. Middle-class expansion has also spurred growth in air travel, as more people are able to afford flights for holidays or business-related travel....
In recent years Saudi Arabia has been extending and upgrading its national road and highway network to meet the combined demands of a growing population, urbanisation, economic growth and a sharp increase in motor vehicle use.
The government’s vision is for both domestic and international transport to play a key role in the diversification and modernisation of the economy. The authorities are aiming to make the country a regional and international logistics centre. To achieve this goal, they envisage working closely with leading global logistics companies via public...
A key element of the Vision 2030 strategy is the establishment of SEZs offering fiscal and other incentives in competitive locations for promising sectors, among them ICT, logistics, tourism, and industrial and financial services. The SEZs are intended to capitalise on Saudi Arabia’s location, fewer than seven hours’ flying time from major...
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