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PIF Sets Up New Real Estate Subsidiary to Help Meet Increasing Local Demand for Housing
- August 20,2020
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- SUSTG Team
Saudi Arabia’s Public Investment Fund (PIF) said it had set up a new real estate subsidiary, called “Roshn,” to help meet increasing local demand for housing, according to reports.
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Bechtel Taps Former U.S. Ambassador to Bahrain as New President for Europe, Middle East Region
- August 19,2020
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- SUSTG Team
U.S.-based construction giant Bechtel announced a new president for Europe and the Middle East, appointing former U.S. Ambassador to Bahrain Justin Siberell as president for the Europe and the Middle East region, the company said in a press release.
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Lifestyle Hotel Brand Habitas to Open 3D Printed Hotel in Al-Ula
- August 18,2020
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- SUSTG Team
Habitas, the lifestyle hotel brand, will deliver a 100-room luxury resort in Al-Ula, Saudi Arabia that is in part 3D printed by the end of the year, joining other planned hotel groups that are emphasizing sustainability to the historic area.
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Saudi Arabia’s King Salman Arrives in NEOM for Vacation, Recovery Period
- August 13,2020
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- SUSTG Team
Saudi Arabia’s King Salman bin Abdulaziz traveled to NEOM in the Kingdom’s northwest on Wednesday for a period of rest and relaxation, according to state news agency SPA and Reuters.
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Banyan Tree Resort Planned for Al-Ula, will Offer ‘Luxury Tented Villas’ in Area with Zero Light Pollution
- August 10,2020
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- SUSTG Team
Saudi Arabia’s Al-Ula will be home to Saudi Arabia’s first Banyan Tree resort, a luxury brand from Europe’s largest hotel group, Accor. The company will take over the Ashar Resort in the historic north-western city and the expanded property will offer luxury accommodation designed to complement the natural scenery of the valley, according to reports. The new resort will have […]
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Death Toll Climbs from Beirut Explosion as Saudi, UAE Express Condolences, Solidarity with Lebanese People
- August 5,2020
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- SUSTG Team
The death toll from the massive explosion that rocked Beirut, Lebanon yesterday continues to climb as Saudi Arabia and the UAE pledge solidarity and support to the Lebanese people.
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Report: Saudi Arabia’s Government Revenue in 2Q 2020 Down by 49% Year-on-Year, but Diversification Push Continues Apace
- July 28,2020
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- SUSTG Team
The twin crises of the Coronavirus and Saudi-led efforts to stabilize the price of oil in the second quarter of this year lead to a sharp decline in the Kingdom’s government revenues, Bloomberg reports. Saudi Arabia’s government revenue dropped by 49% in the second quarter from the same period last year, according to Bloomberg, as the […]
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Will the 2020 G20 Meeting in Saudi Arabia be Virtual? Kingdom Holds Off on Final Decision for Now
- July 22,2020
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- SUSTG Team
Saudi Arabia’s finance minister said on Wednesday that no final decision has been made on whether the G20 leaders summit will be physical or virtual and the Kingdom is still considering the matter, according to Reuters.
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Saudi Arabia’s Real Estate Refinance Co. to Acquire Mortgages Worth $800 Million
- July 20,2020
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- SUSTG Team
Saudi Arabia’s Saudi Real Estate Refinance Co. (SRC), an arm of the Public Investment Fund (PIF), will acquire mortgages worth SR3 billion ($800 million) from the Public Pension Agency (PPA), according to reports.
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Saudi Company Behind Red Sea Tourism Development Awards Airport Contracts
- July 13,2020
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- SUSTG Team
Saudi Arabia’s Red Sea Development Company, whose mission is to develop and create a massive new tourism project on Saudi Arabia’s Red Sea coast, said it had awarded infrastructure contracts for an international airport that is due to open in 2022, Reuters reports.
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MUST-READS
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Europe’s Energy Crisis Pays Off for U.S. Natural-Gas Sellers, Global Traders
Europe’s gas crisis began to unfold in the fall and led prices to record highs on Dec. 21 of more than €180 a megawatt-hour, equivalent to $205. Vessels carrying American LNG to markets around the world set a new course for Europe, and in December the U.S. surpassed Qatar on a weekly basis to become the biggest LNG exporter in the world for the first time. In the following month, the U.S. supplied almost half of the record 11.7 million metric tons of LNG delivered into Europe, according to market-intelligence firm Kpler.
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Moving the Arab population from ‘job seekers’ to ‘job creators’: How governments are promoting and supporting entrepreneurship
Despite the UAE producing the region’s largest unicorns and enjoying record-breaking increases in venture capital funding, the challenge, said Al Falasi, is that attitudes about entrepreneurship still need to shift. Due to the blessing of hydrocarbon wealth, government jobs were long seen as the go-to path. The UAE has launched programs at schools and universities to encourage students to consider entrepreneurship.
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Golf Saudi joins European Disabled Golf Association
Golf Saudi has attained full member status of the European Disabled Golf Association (EDGA) in a move which aims to promote the sport for all players with disabilities in the country.
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Localizing pharmaceuticals manufacturing and its impact on drug security in Saudi Arabia
Local production of pharmaceuticals plays a vital role in maintaining resilience of national healthcare systems, especially when it comes to facilitating access to needed medicines and decreasing exposure to imports and international supply chains.
- Saudi Sees Cyprus as Bridge Between Europe, Middle East
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What A Saudi-Backed Super League Could Mean For Amateur Golf
The much speculated and now highly possible Saudi-backed super league would have multiple ramifications for golf and the amateur game could feel the effects. Rumours are rife that the breakaway league is likely, with suggestions that players are being tempted with a share of a $1.5 billion pot. At the very top level, players may have to choose between the main Tours and the super league, leading to a possible rift in the professional game. But what about the potential effects on the amateur game?
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U.S. to send fighter jets to assist UAE after Houthi attacks | Reuters
Defense Secretary Lloyd Austin also told Abu Dhabi Crown Prince Mohammed bin Zayed Al Nahyan in a telephone call on Tuesday that Washington would send the guided missile destroyer the USS Cole to partner with the UAE navy ahead of a port call in Abu Dhabi.
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Vatican envoy accuses Lebanese politicians of profiting from country’s suffering | Reuters
Archbishop Paul Gallagher's remarks come one week after the World Bank blasted Lebanon's ruling class for "orchestrating" one of the world's worst national economic depressions due to their exploitative grip on resources.
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Deutsche Bank Hires Credit Suisse’s Wealth-Manager Trio to Woo Saudi Ultra-Rich
Global banks are vying for a greater share of the wealth created in recent years, driving fierce competition for advisers who can bring billions of dollars in client assets. Saudi Arabia was among a handful of countries globally in 2020 that saw a double-digit percentage increase in their numbers of ultra-high net worth individuals, according to Knight Frank’s Wealth Report.
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Saudi Arabia, Kuwait mull future Neutral Zone projects
The Neutral Zone is a specially demarcated area between the two countries where production from the 300,000 b/d offshore Khafji field and 250,000 b/d onshore Wafra field has been gradually ramping up since they were brought back online in early 2020 following a more-than-four-year hiatus over long-standing operational disputes.
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