Browsing: Business
Saudi Arabia has been diversifying its economy, embracing digital transformation, and creating reforms aligned with its Vision 2030. These changes are spurring the growth of the construction industry. The government’s investment in infrastructure and housing development has generated more construction
According to the flash estimate for the growth rate of the real GDP report released recently by the General Authority for Statistics (GASTAT), the real Gross Domestic Product (GDP) of the Kingdom of Saudi Arabia increased by 6.8% in Q4
Aldar Properties announced its preliminary financial results for the full year of 2021, reporting revenues of AED8.58 billion, up 2 percent year-on-year, a gross profit of AED3.60 billion, up 21 percent year-on-year, and a net profit of AED2.33 billion, up
Arada, a Sharjah-based development company, has purchased the last remaining beachfront land plot on the Crescent of the world-famous, award-winning Palm Jumeirah, marking the fast-growing developer’s first project outside Sharjah and its entry into the Dubai property market.Valued at AED240
His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Deputy Prime Minister, Chairman of the Board of Directors of the Public Investment Fund and Chairman of the Board of Directors of Jeddah Central Development Company, has
Masdar (Abu Dhabi Future Energy Company) has won a tender to build a US$174 million utility-scale solar project in Armenia. The Armenian Government had implemented an international tender following Masdar’s initial offer of $0,0299/kWh in December 2019. After a competitive
Abu Dhabi National Oil Company (ADNOC) announced that Reliance Industries Limited (Reliance), has signed an agreement to join a new world-scale chlor-alkali, ethylene dichloride and polyvinyl chloride (PVC) production facility at TA’ZIZ in Ruwais, Abu Dhabi.The agreement capitalizes on growing
His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, chaired a meeting of the General Budget Committee, which was held at Qasr Al Watan. During the meeting, the committee discussed the UAE’s draft
Aramco has signed a deal with a consortium led by EIG Global Energy Partners (EIG), one of the world’s leading energy infrastructure investors, to optimize its assets through a lease-and-lease-back agreement involving its stabilised crude oil pipeline network. Upon closing,
Fawaz Abdulaziz Alhokair Co., the leading franchise retailer in Saudi Arabia, and Arabian Centres Company, the leading owner, developer and operator of lifestyle shopping centers in Saudi Arabia, have announced that they will acquire a combined 51per cent stake in