9,312.13 TRY BIST 100 BIST 100
38.30 USD USD USD
5.28 CNY CNY CNY
43.56 EUR EUR EUR
0.12 CNY CNY/EUR CNY/EUR
46.74 TRY Interest Interest
66.21 USD Fossil Oil Fossil Oil
41.10 USD Silver Silver
488.00 USD Copper Copper
99.70 USD Iron Ore Iron Ore
352.00 USD Shipbreaking Scrap Shipbreaking Scrap
4,091.06 TRY Gold (gr) Gold (gr)

Saudi Arabia's investment appeal grows

During the meeting held in Beijing, Saudi Arabia and China have solidified their economic ties by signing investment agreements amounting to 5 billion riyals ($1.3 billion).

Saudi Arabia's investment appeal grows

During the meeting held in Beijing, Saudi Arabia and China have solidified their economic ties by signing investment agreements amounting to 5 billion riyals ($1.3 billion). The agreements were signed on the sidelines of the event, underscoring the nations' commitment to enhancing bilateral cooperation. The Kingdom's residential real estate market is experiencing a surge in activity, aligning with Vision 2030's goal of achieving a 70% home ownership rate among Saudis. This momentum is also driven by the ambition to position Riyadh as one of the world's top 10 largest economies.

12 agreements have been inked between Saudi Arabia and China, reflecting deepening cooperation in the realms of infrastructure and financing. Notably, these agreements encompass 5 housing-related deals, amounting to an investment of 5 billion riyals. This endeavor is anticipated to involve partnerships with housing developers and contractors, along with the establishment of modern building technology factories, projecting a substantial investment value surpassing 10.5 billion riyals ($2.8 billion).

In the past year, trade between China and Arab countries surged by 30% to $421 billion, with Saudi Arabia contributing significantly at 25%, totaling $106 billion in 2022. Amidst this, Saudi Arabia is a hub of investment, boasting a favorable environment that spurs growth. Notably, over 300,000 housing units are being constructed across 17 cities, spanning 150 million square meters, showcasing an investment exceeding 100 billion riyals. Minister Al-Hogail urged Chinese firms to seize real estate development opportunities in the Kingdom.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Important step from İzmir Demir Çelik for the public offering of İDÇ Liman

Friday, April 25, 2025

Germany's crude steel production decreased by 12.5% in the first quarter

Friday, April 25, 2025

Leaders of the Steel World Meet at Steel Summit 2025

Friday, April 25, 2025

TUCSA and ARMS strengthen cooperation in modular construction

Friday, April 25, 2025

Tariffs statement from China: “No progress, we are open for dialogue”

Friday, April 25, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now