Latest news with #SaudiVision2030
Zawya
10 hours ago
- Business
- Zawya
Saudi bank credit records annual growth of over $118.13bln by end of April 2025
RIYADH — Bank credit granted to the public and private sectors in Saudi Arabia reached SR3,126,381 million (over SR3.126 trillion) by the end of April 2025, according to the monthly statistical bulletin issued by the Saudi Central Bank (SAMA) for April. This marks an annual growth of 16.5 percent and an increase of more than SR443.018 billion compared to the same period in 2024, when bank credit stood at SR2.683 trillion. Quarterly, bank credit continued to rise at all levels, recording a growth of five percent compared to the fourth quarter of 2024, increasing by SR146.411 billion. By the end of the first quarter of 2025, bank credit had grown from over SR2.955 trillion to over SR3.101 trillion. On a monthly basis, bank credit recorded a growth of 0.8 percent, rising by SR24.420 billion, compared to March 2025, when it stood at SR3,101,961 million. Bank credit granted to the public and private sectors was distributed across more than 17 diverse economic activities, serving as a key driver in achieving comprehensive and sustainable economic growth and contributing to the goals of Saudi Vision 2030. According to SAMA data, long-term credit (for over three years) accounted for 49 percent of total bank credit, valued at over SR1.524 trillion. Short-term credit (less than one year) represented 36 percent, amounting to over SR1.135 trillion. Medium-term credit (from one to three years) comprised about 15 percent, totaling SR465.937 billion. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Daily Mail
14 hours ago
- Business
- Daily Mail
'Saudi Arabia is a global destination for real estate investment,' says Mohammed Albuty, CEO of the National Housing Company
Mohammed Albuty, CEO of the National Housing Company (NHC), affirmed that Saudi Arabia is undergoing a significant transformation in the real estate sector, driven by the objectives of Saudi Vision 2030. He emphasised that NHC is at the forefront of this transformation as the region's largest real estate developer and the executive arm of the public sector. Mr Albuty's remarks came during his participation at the 'Capitals London ' event, held alongside the Cityscape Global Exhibition, where he highlighted that NHC has played a key role in the success of raising the homeownership rate among Saudi citizens to 65pc one year ahead of schedule, and aims to reach 70pc by 2030. This progress has been fuelled by the development of more than 600,000 residential units, half of which are expected to be completed by the end of 2025. He added that the company is currently managing 39 high-profile projects across 17 cities in Saudi Arabia, with total investments exceeding $154 billion. To date, over 100,000 residential units have been sold through off-plan sales. NHC also manages a land portfolio in the Kingdom spanning more than 284 million square meters. Mr Albuty emphasised that enhancing quality of life is a core pillar of the company's strategic plans. Sustainability principles are embedded across all stages of development, from planning and design to material selection and community management. NHC aims to reduce commuting times, provide interactive public spaces, promote healthy lifestyles that strengthen social bonds and a sense of belonging, and dedicate vast areas to green spaces. Mr Albuty also noted that NHC has successfully attracted international developers with direct investments exceeding $10 billion, through strategic partnerships with global real estate firms. Key partners include K. Hovnanian from the United States, Urbas from Spain, TMG from Egypt, CITIC Group from China, Emlak Konut from Turkey, and Kooheji from Bahrain. These partnerships encompass the development of major residential projects, in addition to collaboration with CITIC in areas such as supporting industries, logistics zones, and supply chains to enhance local content. Mr Albuty concluded his statement by affirming that the Saudi real estate market is gaining increasing confidence from investors around the world. He emphasised that NHC is moving forward with a clear vision to become the main driver of real estate growth, contributing to the development of integrated cities that reflect customer aspirations and support the objectives of Saudi Vision 2030.
Leaders
19 hours ago
- Business
- Leaders
HRDF Wins Two Gold Awards at EMEA Customer Service Event
The Human Resources Development Fund (HRDF) has been honored with two prestigious Gold Awards at the EMEA Contact Center World Awards, recognizing its excellence in customer service. HRDF received the Gold Award for Best Contact Center and the Gold Award for Best Use of Social Media in Customer Experience across Europe, the Middle East, and Africa (EMEA). These achievements were announced during the regional conference held in Berlin, Germany, which brought together leading organizations to celebrate outstanding performance in customer service. HRDF earned these accolades after competing with numerous government bodies and companies from around the globe. Additionally, the rigorous evaluation process was conducted in multiple phases and aligned with top-tier international standards. Judging was carried out by a panel of global experts in customer service and contact center operations. As part of the conference, HRDF presented its approach to enhancing the customer journey through diverse communication platforms and responsive support services. Moreover, the Fund shared insights into its customer engagement strategies, real-time assistance capabilities, use of advanced technologies, performance metrics, and ongoing initiatives to improve access to its programs and services. These awards, along with HRDF's recent local and international recognitions, reflect its unwavering commitment to excellence, quality, and innovation in customer experience. They also underscore HRDF's dedication to boosting operational efficiency, fulfilling service expectations, and driving sustainable outcomes that contribute to the Fund's mission of developing a resilient national workforce—aligned with the goals of Saudi Vision 2030. Related Topics : Saudi Arabia HRDF's Expenditure Hits SAR 6.9 Billion in 9 Months NEOM Tech & Digital Co. Launches Major Cloud Infrastructure Project with Oracle 'Customer service' Jobs for Saudis Only Aqualia, NWC Redefine House Connection Services in Saudi Arabia Short link : Post Views: 19
Arabian Business
a day ago
- Business
- Arabian Business
PIF launches Expo 2030 Riyadh Company to build landmark giant World Expo site
Saudi Arabia's Public Investment Fund (PIF) has announced the establishment of Expo 2030 Riyadh Company (ERC), a wholly owned entity tasked with developing, operating, and sustaining Saudi Arabia's first World Expo — Expo 2030 Riyadh. The Expo, set to run from October 1, 2030 to March 31, 2031, will take place on a vast 6 million square metre site north of Riyadh, near the upcoming King Salman International Airport. Strategically connected to the city's major landmarks, the Expo site is positioned to become a future-facing, multicultural destination aligned with Saudi Vision 2030. PIF launches Expo 2030 Riyadh Company Key highlights from the Expo 2030 Riyadh project: More than 40m visits expected during the Expo event Estimated $64bn contribution to Saudi Arabia's GDP during construction phases Around 171,000 direct and indirect jobs projected to be created Post-event GDP contribution expected to be $5.6bn annually Participating countries can construct permanent pavilions, ensuring long-term investment potential Plans to transform the Expo site into a global village, integrating retail, F&B, sustainable tourism, and a world-class residential community Saad Alkroud, Head of the Local Real Estate Investment Division at PIF said: 'ERC benefits from PIF's diverse local and global ecosystem and the establishment of the company aligns with PIF's local real estate strategy, which drives economic transformation and diversification, advancing urban innovation and enhancing quality of life, driven by the ambitious goals of Saudi Vision 2030.' Following Riyadh's successful bid to host the World Expo — secured in the first round of voting in November 2024 — ERC is already fast-tracking operations. The company will collaborate with both local and international private sector partners to deliver on construction, cultural programming, and operational readiness. The legacy-focused approach of Expo 2030 Riyadh reflects PIF's broader mandate: to catalyse Saudi Arabia's economic diversification, generate sustainable returns, and establish transformative giga-projects that shape the future of the global economy. As one of the largest World Expo sites in history, Expo 2030 Riyadh is set to cement the Saudi capital's position as a leading global business, culture, and innovation hub.
Saudi Gazette
a day ago
- Business
- Saudi Gazette
PIF launches new company to deliver Expo 2030 Riyadh
Saudi Gazette report RIYADH — The Public Investment Fund (PIF) announced on Thursday the launch of Expo 2030 Riyadh Company, a wholly-owned entity. The company will build and operate the facilities for Expo 2030 Riyadh, the first of its kind in Saudi Arabia, and invest in its facilities over the long term. The master plan for Expo 2030 Riyadh covers an area of 6 million square meters north of Riyadh, adjacent to the future King Salman International Airport. It will be one of the largest Expo sites in the history of the exhibition, directly connected to several key prominent locations. Expo 2030 Riyadh is expected to attract more than 40 million visits. Following its completion, the company will transform the exhibition into a global village, a multicultural hub for retail and dining activities, surrounded by a world-class residential community that will serve as a model for sustainable tourism. The Public Investment Fund works to create a positive economic impact in Saudi Arabia and ensure sustainable returns. Saad Alkroud, Head of the Local Real Estate Investment Division at PIF said: 'ERC benefits from PIF's diverse local and global ecosystem and the establishment of Classification: Public the company aligns with PIF's local real estate strategy, which drives economic transformation and diversification, advancing urban innovation and enhancing quality of life, driven by the ambitious goals of Saudi Vision 2030.' ERC is swiftly launching operations to fulfill its mandate, and will partner with the local and global private sector to achieve its goals for construction, cultural programming and event management. Expo 2030 Riyadh runs from Oct. 1, 2030 to March 31, 2031 and will further strengthen the city's attractiveness to international businesses. It marks the city's status as one of the world's fastest-transforming capitals, one that combines sustainability, connectivity and quality of life at scale. Riyadh was awarded the hosting rights for Expo 2030 in November 2024, winning the vote in the first round. During its construction phases, Expo 2030 Riyadh and its legacy are projected to contribute around $64 billion to Saudi GDP and generate approximately 171,000 direct and indirect jobs. Once operational, it is expected to contribute approximately $5.6 billion to GDP. Countries participating in Expo 2030 Riyadh will have the option of building permanent pavilions and being part of the event's legacy. The Expo will provide opportunities for long-term business and investment growth.
