Saudi Focus

Saudi Arabia’s Ministry of Housing last month signed an agreement with the Chinese government for the construction of 100,000 housing units in the Al Ahsa province of the kingdom.

Saudi Arabia’s Emaar, the Economic City said that an affiliate had obtained a SR2.7 billion ($720 million) Islamic loan from banks to finance the second phase of building King Abdullah Port. Ports Development Company secured a murabaha facility from Arab National Bank and Saudi British Bank with a tenor of 14 years, Emaar said.

There is an increasing demand for affordable housing in Riyadh as the population growth continues to outstrip property market supply in the kingdom’s capital, a report said. Riyadh’s population has grown by 52 per cent over the past 15 years and currently stands at 6.

Construction projects to expand capacity at Makkah’s Grand Mosque and other Islamic holy sites will be completed in about three years, enabling Saudi Arabia to accommodate more pilgrims.

Al Yamamah Steel Industries Company has won a SR180-million ($48 million) contract from Saudi Electricity Company (SEC) to supply steel poles and accessories for its key projects in the kingdom.

Fawaz Abdulaziz Al Hokair Company has won a major contract to develop a commercial and entertainment district adjacent to King Abdulaziz International Airport in Jeddah.

Khodari wins deal, renews facility Saudi construction firm Abdullah Abdul Mohsin Al Khodari and Sons has won a SR69-million ($18.4 million) contract from the kingdom’s Ministry of Environment, Water and Agriculture for the maintenance of water networks. The company also announced that it had renewed an existing SR132 million ($35.

State oil giant Saudi Aramco has awarded a major contract to Saudi KAD, a leading engineering, procurement and construction (EPC) company, for its strategic pipeline projects related to the Master Gas Programme Phase II, and the Fadhili Gas Programme. When the project is completed in 2018, the Master Gas System (MGS) capacity will increase to 12.