SR400B RE Investment Shortfall

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Saudi Arabia is set to build 2.4 million housing units by 2020, but the Kingdom’s real estate investment is short by SR400 billion to meet anticipated housing demand.

Saudi Arabia housing stock will rise to just over seven million units by 2020, compared to 4.6 million by 2010, according to National Commercial Bank Capital research.

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Hidden riches: ME’s undiscovered oil & gas resources(0)

: Nwardez / People Photos / CC BY-NC-SA

The Middle East is awash with billions of dollars worth of undiscovered oil and gas buried deep in the region, according to the United States Geological Survey. But the largest deposits are not in Saudi Arabia. CONTINUE READING

Unsung heroes of Islamic finance industry(0)

By Rushdi Siddiqui, Global Head of Islamic Finance at Thomson Reuters

For the first column in 2013, I did not want a me-too article about sukuk issuance for year ahead, central bank authorisation of a mega Islamic bank, or new IFSB or AAOIFI standards, but shine a spotlight on ‘unsung heroes’ of an Islamic financial institution.

At an Islamic award ceremony and ensuing Press release, the CEO of an Islamic financial institution usually thanks his staff and employees, and typically says, “… without our hard working employees none of these achievements is possible…” These are not hallow words, as he ‘flies or falls’ based upon staff meeting their KPIs down the chain of command to the clerk in the mailroom and the janitor.
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Saudi-China nexus(0)

: yewenyi / Foter.com / CC BY-NC

China recently replaced the UAE to become the Saudi Arabia’s largest exporting market. The Asian giant’s share of Saudi exports stood at 15.4%, according to National Commercial Bank report.
This is a significant development for both countries. CONTINUE READING

The New Saudi Order(0)

Saudi Prince Mohammed Bin Nayef’s appointment to the Kingdom’s powerful interior ministry job - replacing Prince Ahmad bin Abdel-Aziz Al Saud — is being seen by many as a precursor for higher office. CONTINUE READING

Saudi Arabia: Refinery Hub(0)

: OneEighteen / Foter / CC BY-NC

Saudi Aramco ‘s decision to proceed with the 400,000 barrels per day Jazan Refinery is part of a trend of turning the Middle East into a beehive of global refining activity. CONTINUE READING

KSA to be fastest growing G20 economy after China this year: BarCap(0)

Saudi Arabia will emerge as the second fastest growing G20 country after China this year, while Gulf economies will outpace global and emerging growth, according to Barclays Capital research. CONTINUE RE

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Saudi Economic Outlook 2013(0)

: Bakar_88 / Foter / CC BY-NC-SA

After stellar growth in the past two years, a moderation in oil prices poses stiff challenges for Saudi Arabia in 2013 and beyond.

Saudi economic growth is expected to moderate in 2013 as the global economic slowdown continues to fester and erase some of the exuberance of emerging economies. CONTINUE READING

Oman’s quiet boom(0)

: © Salim Photography/ www.salimphoto.com / Foter / CC BY

While regional stalwarts Saudi Arabia, UAE and Kuwait grab all the economic headlines, the Omani economy is quietly showing impressive growth and resilience. CONTINUE READING