Saudi Arabia Economy - MarcoPolis

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.

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Doing Business in Saudi Arabia: Steady Improvement

February 10, 2015

Over the past decade, Saudi Arabia has emerged as one of the best places to do business in the Middle East. In its ranking “Ease of Doing Business” Index 2011, the World Bank ranked 11th out of 183 countries. Saudi Arabia has made significant progress by moving up to 11th place from the 67th place in the global ranking it occupied in 2005.

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Saudi Arabia: The Largest Economy in The Middle East

February 10, 2015

Saudi Arabia is the 19th world’s largest economy and the biggest economy in the MENA region. The country is the world’s largest exporter of oil, with an estimated 8,865,000 barrels of oil per day production. The petroleum sector accounts for roughly 92.5% of budget revenues, 55% of GDP, and 90% of export earnings.

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Saudi Arabia: The Kingdom Embraces Change and Reform

February 9, 2015

Despite Western media relentlessly branding Saudi Arabia an archaic, backwards-oriented Islamic monarchy, the kingdom has done bold steps which aim to get its population back to work by diversifying its energy-oriented economy, empowering women to study work and by embracing the digital age like few other Arab countries.

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Saudi’s Real Estate Prices Should Not Grow Further

February 8, 2015

“The question is whether the residential prices are affordable. Currently with the prices as they are, there is a huge difference between property prices and people’s income… Over the last 3 or 4 years, the pricing acceleration was quite aggressive so I do not think we shall see much higher prices,” says Majed Al Hogail, Managing Director of Rafal Real Estate Development Co.

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Saudi Arabia’s Land Is Too Expensive, Real Estate Is Overvalued

February 8, 2015

“The land is too expensive. Land should be a maximum of 30% of the unit cost but in Saudi it is nearing 50%. Land is available but it’s too expensive,” says Mohammad Al Saja, Chairman of Mizat Development Company.

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Real Estate Market in Saudi Arabia Tripled in the Last 3 Years

February 8, 2015

“In the real estate market in Saudi in the last three to four years, the prices doubled or tripled. As you know, the population growth in the country is becoming very high. This is one of the reasons that suddenly the government realized there is high demand for land, or in other words, a high housing demand,” explains Mohammad Al Saja, Chairman of Mizat Development Company.

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Evolution of Saudi Capital Markets by Blominvest

February 6, 2015

Abdullah Saud Al-Rashoud, CEO of Blominvest
I think the capital markets started very early in Saudi, maybe in the 60’s or even earlier than that. It was very simple, very preliminary, there were no complications at all, and there were no rules or regulations.

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Doing Business in Saudi Arabia is the Easiest According to Zamil

February 6, 2015

Abdul Rahman Al-Zamil, Chairman of Zamil Group
Without any hesitation I can tell you that doing business in Saudi Arabia is the easiest of all of these countries. Easy business doesn’t mean only government procedures.

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Real Estate is Second Largest Sector in Saudi Arabia after Oil

February 6, 2015

Mohammed S. Alkhalil, President of FAD Investment & Development
Real estate is a major issue in Saudi Arabia. It is the second largest sector after oil and gas.