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 leading five star hotels in Riyadh.
One of the best boutique hotels in Riyadh offering superior service
Cherif Ali, General Manager of Tiara Hotel talks about Tiara Hotel, one of the best hotels in Riyadh.
Gulf Deutsche Finance on future of mortgage market in Saudi Arabia
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.
Al Yamamah University is becoming one of the leading universities in Saudi Arabia
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.
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“Saudi Arabia has very low ATM per capita” says Abana
The government is keen to ease doing business in Saudi Arabia. With establishing SAGIA and allowing for 100% ownership, the government initiated steps towards this goal. There were obstacles before, but nowadays it is very easy to open a business. Recently, when King Salman visited the United States, he welcomed an open market for the retail sectors.
Outlook for the capital markets in Saudi Arabia by Aljazira Capital
Public debt in Saudi Arabia is among the world’s lowest, with a gross Debt-to-GDP ratio of less than 2% in 2014 and is expected to be around 6% by the end of 2015. The transportation mega projects will lead to economic activity and growth, plus the hospitality projects around Mecca and Medina.
SOCPA: Main objective is to apply IFRS by the end of 2016 in Saudi Arabia
The GAAP is based on rules but the IFRS is based on principles. The two systems have major differences. Since the IFRS is now becoming accepted in more than 120 countries, Saudi Arabia has decided to move towards the International Financial Reporting Standards in order to be compatible with other countries worldwide.
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Saudi stock market will experience challenges in 2016
The Saudi stock market today has been negatively affected by many factors particularly the geopolitical issues especially in Yemen and Syria and the sharp decline of the oil price from $120 to $40, which is a decline of some 60 or 70%.
Outlook for ICT sector in Saudi Arabia is positive
Also if you look at some of the consumer trends that usually drive behaviours, there is a very young population with over 70% of the population under 25, and they are very tech savvy in IT usage from a consumer perspective. These factors are driving even more trends toward corporate services and government services.
Affordable housing a priority for the real estate sector in Saudi Arabia
Definitely the taxation on the lands is a hard issue now. We are expecting this legislation to take some time but if they implement it well, it will help the sector. This is not the only thing that will help housing especially for low income people.