Cost of subsidies in Saudi Arabia reaches US$ 40 billion
Paddy Padmanathan, President and CEO of ACWA Power talks about the energy and water subsidies in Saudi Arabia.
imported 2024-03-17 17:43:08
Paddy Padmanathan, President and CEO of ACWA Power talks about the energy and water subsidies in Saudi Arabia.
Paddy Padmanathan, President and CEO of ACWA Power talks about the progress towards renewable energy in Saudi Arabia.
Paddy Padmanathan, President and CEO of ACWA Power talks about the outlook for the economy in Saudi Arabia.
Abdullah M. Ben Jebreen, CEO of Abana talks strategy for Abana.
Abdullah M. Ben Jebreen, CEO of Abana talks the state of the ATM network in Saudi Arabia.
Cherif Ali, General Manager of Tiara Hotel talks about the tourism sector in Saudi Arabia.
Cherif Ali, General Manager of Tiara Hotel talks about Tiara Hotel, one of the leading five star hotels in Riyadh.
Cherif Ali, General Manager of Tiara Hotel talks about Tiara Hotel, one of the best hotels in Riyadh.
According to the latest SAMA records the total mortgage size in Saudi Arabia is more than 100 billion riyals, coming mainly from the commercial banks. This represents only the official figures excluding Real Estate Development Fund (REDF) financing. If you compare this number to the consumer finance and other corporate finance products, it is very small. The reason is that the population of Saudi Arabia is viewed as a young population and mortgages are now something that is becoming a necessity for people in Saudi Arabia because of their gradual ageing.
Saudi Arabia is a growing nation. Statistics show that 70% of the population is under the age of 30. There is a huge demand for education. One need only look to the increasing number of universities and colleges opening up in the past 15 to 20 years to see that. Right now, the Kingdom has 28 public universities and 12 private ones, and nearly the same number of private colleges. We also have vocational training programs, and other options for military-specific training, or for medicine.