• Economy

    OBG provides coverage of the major macro-economic trends within local economies, including GDP growth, government budgeting, public debt, balance of payments, monetary policy and long-term development strategies.
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To what extent do you expect the National Transformation Programme to spur private sector investment in Jeddah and non-oil growth?

 

Jeddah’s industrial market has benefitted from a surge of investment, driven by efforts to diversify away from oil. In late 2015 the Kingdom’s government announced that 45m sq metres of land in and around Jeddah had been allocated for industrial development, to be overseen by the Saudi Industrial Property Authority (MODON), a quasi-...

 

Spurred by rapid population growth and mounting public and private investment, Jeddah – Saudi Arabia’s second-largest city – is on the rise. Since the early 1990s the population of the Jeddah urban area has more than doubled, reaching 4.1m residents as of the end of 2015, according to data from the General Authority for Statistics. While...

 

Over the last five years several major public transport development programmes have been launched in the cities of Makkah and Medina. Now in the design, tendering and construction phases, these initiatives have the potential to transform the way residents and pilgrims travel to, from and within Islam’s most important sites. The SR62bn ($16.5bn...

 

How can the private sector play a bigger role in the development of the two holy mosques, especially in relation to religious tourism?

 

As home to the world’s most important Islamic sites – including the Masjid Al Haram, or Grand Mosque, which houses the Kaaba – the holy cities of Makkah and Medina are at the centre of religious life for the world’s 1.2bn-strong Muslim population. Located near Jeddah, in western Saudi Arabia, each year the two cities attract millions of...

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