The Middle East

Home to the world’s largest conventional oil field, and Saudi Arabia’s largest province by size, the Eastern Province is responsible for much of the Kingdom’s oil production. It is the most important centre for heavy industry in the country and home to the world’s biggest petrochemicals cluster at Jubail, which is currently in the midst of a major expansion. Other large-scale projects at Ras Al...

The results of efforts to address decades of rapid unplanned growth in Saudi Arabia’s second-largest city are beginning to become clear as transportation plans advance and major development projects get under way. With a focus on public- private partnerships, affordable housing and the redevelopment of large parts of the city, and a number of mega-projects and a $12bn integrated urban transport...

As both the number of pilgrims and the number of residents in Islam’s holiest city continue to rise, the development and expansion of infrastructure is the main theme in Makkah at present. Investing in the necessary facilities to accommodate visitors, boosting the number of available hotel rooms and building more affordable housing for residents will all be major focuses going forward. This...

One of the largest in the GCC, Saudi Arabia’s insurance industry is expanding at a rate which some believe will soon see it surpass the UAE to claim the title of regional leader. 33 insurers are currently licensed to operate in the Saudi market, while a further three have been approved for establishment. This makes for a crowded sector, with intense competition played out largely in the arena of...

Long a key participant in the global Islamic finance arena, Saudi Arabia secured its position in 2013 by becoming the largest issuer of sukuks (Islamic bonds) in the region for the second year in a row. The outlook for sukuks is positive, as the short-term nature of most bank lending in the Kingdom (with around 60% of all loans having maturities of less than one year) makes them an attractive...

As the largest and most liquid bourse in the MENA region, the Saudi Stock Exchange accounts for around 50% of the GCC equity market. Increasing investor appetite, sustained earnings growth by Saudi companies and the relatively robust nature of the Kingdom’s economy make for a positive outlook for the exchange. Although still at a relatively early stage of development, the bourse has begun to...