List of all articles filed under “saudi-arabia-topics” category.
“Saudi Arabia has a bright future. There is a lot of expansion going on. The government is spending a lot of money, especially in the western areas of Mecca, Medina, Jeddah and the King Abdullah Economic City,” says Dr Mohammed A. Al-Ajlan, CEO of Ra-yek Real Estate.
“Richy is one of the best brands because we do not compete with our products but with our services. We have tried to make Richy a luxury brand. We are not just selling a piece of fabric because anybody can do that,” explains Dr Mohammed A. Al-Ajlan, CEO of Ra-yek Real Estate.
“Al Ajlan Allied Group is divided into two sectors, trading and real estate. Our business is shared equally between trading and real estate,” says Dr Mohammed A. Al-Ajlan, CEO of Ra-yek Real Estate.
Marcopolis.net has ranked the largest public construction firms in Saudi Arabia. The construction sector will continue good growth on the backdrop of government spending. There are many other private family owned construction companies and marcopolis.net will attempt to rank them over here.
Al Saedan Real Estate – Opening of the Saudi Capital Markets
The Capital Market Authority’s report disclosed the total market capitalization of the Saudi bourse at 1,945.15 Billion Riyals for the first half of 2014, up 29.93% from last year’s second half.
With a total population of approximately 30 million people, the oil state “is a very dynamic market,” Hassan Kabbani, the CEO of Zain KSA, told Marcopolis in an exclusive interview. “There is a very high level of mobile penetration, reaching more than 180%, and very high level of Smartphone penetration.” Such figures are rare in the emerging markets, but typical for the Gulf Arab oil states with its low population density, but huge distances between the different cities and villages.
According to Citigroup (Middle East), approximately 60 percent of all real estate projects worth 3.5 trillion dollars underway or in the pipeline in the Middle East are located in Saudi Arabia and the United Arab Emirates.
Amid ample demand from an ever young and ambitious population, property in the oil-rich kingdom is booming. But the run for climatised square meters in the desert adds fuels inflation in the biggest Gulf Arab country.
The Kingdom of Saudi Arabia and oil are some of the oldest synonyms in contemporary history. But the kingdom has more to offer than black gold, and the government in Riyadh is working tenaciously to diversify the economy. “If you compare it by GDP, oil represents 85 percent in Saudi Arabia,” says Abdulrahim Al-Zamil, Chairman of the multi-industry conglomerate Zamil Group.
The tourism and service industry could be the providential answer to the pressing unemployment issues in the Kingdom. According to the country’s master economic and industrial development plan through the year 2025, the total Saudi labor force in 2009 consisted of 4,885,960 workers. That figure is projected to grow to 11,850,180 by the end of the planning period.
