8,087.24 TL BIST 100 BIST 100
28.93 $ USD USD
€31.38 EUR EUR
38.49 TL Interest Interest
78.05 $ Fossil Oil Fossil Oil
24.51 $ Silver Silver
3.83 $ Copper Copper
129.79 $ Iron Ore Iron Ore
385.00 $ Ship Dismantling Ship Dismantling
1,889.62 TL 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.


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

Iron and steel prices on an upward trend

Tuesday, December 5, 2023

"You Have the Say - Steel Conversations" discussed the challenges of the Turkish steel industry

Tuesday, December 5, 2023

Price disparity raises questions in the Middle East's steel market

Tuesday, December 5, 2023

US HRC imports fell in October

Tuesday, December 5, 2023

US crude steel production rises on a weekly basis

Tuesday, December 5, 2023
Follow List
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

Global Iron and Steel Exchanges

Iron and Steel Indices, Price and News

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