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    Saudi housing market facing mid-income unit shortfall

    The majority of the population is looking at a more serious shortfall, one which demographically must be addressed before a major housing shortage is realised.

    The governments’ housing demand forecast for 2009 shows that apartments, or …

    Read full article » Saudi Arabia: Tuesday, July 28 - 2009 @ 10:39
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    Saudi 2008 tourism revenues hit SR 78.5bn

    Saudi’s domestic tourism has grown during 2008, with internal tourism expenditures of SR74.1bn, a rise of 44.4% over 2007.

    The number of domestic tourist trips in Saudi Arabia in 2008 amounted to 43.5 million journeys compared …

    Read full article » Saudi Arabia: Monday, June 29 - 2009 @ 11:50
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    Saudi real estate regulations to follow Dubai model

    By Henry Cort, Andrew Thomson and Julien Sweeting

    The first step was the publication on 9 March 2009 of the Council of Ministers Resolution No. 73.

    Interestingly, it appears that the Saudi Arabian authorities are working on …

    Read full article » Saudi Arabia: Monday, June 01 - 2009 @ 16:17
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    Saudi forecasts real estate growth

    The rate of annual growth of the real estate sector in Saudi Arabia was nearly 5.1%, achieving a 40% growth in fixed capital in the real estate market from 2000 to 2005.

    The sector was …

    Read full article » Saudi Arabia: Thursday, May 07 - 2009 @ 12:13
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    Saudi Arabian non-oil exports fall by SR1.7bn

    The total weight of Saudi Arabia’s non-oil exports was 3,336 tonnes compared with 3,425 tonnes in January 2008, a decline of 3%.

    The total value of imports into the kingdom in January this year was …

    Read full article » Saudi Arabia: Tuesday, April 14 - 2009 @ 13:02
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    Saudi adopts $400bn stimulus plan

    Saudi Arabia has confirmed that its economic recovery continues, and that the situation is set to improve during next year, based on IMF assessments that predict that the global economy would grow 2% during 2010. …

    Read full article » Saudi Arabia: Wednesday, April 08 - 2009 @ 12:53
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    Saudi Arabia projects continuity of oil production

    Saudi Arabia said that proven reserves alone are conservatively estimated to continue for approximately 80 years, especially in light of evolving exploration and production technologies.

    Saudi Arabia stressed that non-renewables would remain the world’s energy work-horse …

    Read full article » Saudi Arabia: Thursday, April 02 - 2009 @ 12:03
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    Saudi Arabia: Inflation drops to 6.9%

    On its website, the Central Department of Statistics in the Ministry of Economy and Planning said that inflation rates in Saudi Arabia has witnessed another drop during last February for the seventh consecutive month to …

    Read full article » Saudi Arabia: Sunday, March 22 - 2009 @ 09:53
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    Sama backs Saudi banks with SR26bn

    By the end of last January, its credit amounted to SR353.2bn, against SR379.4bn at the end of 2008.

    This withdrawal is one of the most important reasons behind the drop in overall assets of the …

    Read full article » Saudi Arabia: Tuesday, March 17 - 2009 @ 13:44
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    Saudi Arabia sees no need for loans to cover deficit

    Saudi Arabia increased expenditure in the state budget of 2009.

    Projected deficits amounted to SR65bn, the first recorded deficit since 2002 due to the drop in oil prices internationally.

    Minister of Finance, Dr Ibrahim al …

    Read full article » Saudi Arabia: Monday, March 02 - 2009 @ 15:31

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