Latest news with #SAR3.7
Zawya
11-03-2025
- Business
- Zawya
Saudi to offer $3bln projects in Eastern province
Saudi Arabia is planning to offer 35 new investment projects worth around 11.05 billion Saudi riyals ($3 billion) in its Eastern Al-Ahsa province, a newspaper said on Tuesday. The new opportunities cover logistics, tourism, industry, and farming and they are part of ongoing plans to develop key sectors in the region, Alwatan said. The paper, citing a government report, said the logistics sector has the lions' share of the projects as it accounts for nearly 57 percent with a value of SAR6.6 billion ($1.7 billion). Projects in tourism are worth around SAR3.7 billion ($1 billion) and are intended to attract more tourists to the province and create new jobs for Saudis, the report said. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Zawya
13-02-2025
- Business
- Zawya
Saudi Arabia to award over 25 housing, infrastructure projects
Saudi Arabia had inked contracts worth SAR6.5 billion ($1.7 billion) in January and now plans to award more than 25 new projects later this month, according to a report by Saudi Contractors' Authority (SCA). And out of this, nearly half of them cover infrastructure, housing and industry, stated SCA in its report which was published this week in its online Muqawil (contractor) bulletin. Most of the projects being awarded this month will come from Saudi Electricity Company, the National Housing Company, the Public Investment Fund (PIF) and NEOM, it said. The SCA report showed construction accounted for more than half the value of projects awarded in January, standing at around SAR3.7 billion ($1 billion) followed by water and energy contracts worth SAR1.45 billion and industry in third place with a value of SAR1.36 billion ($362 million). As per the report, Saudi capital Riyadh had the lion's share of the projects in January to the tune of around SAR4.8 billion ($1.28 billion). -TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
12-02-2025
- Business
- Trade Arabia
Saudi Arabia to award over 25 housing, infrastructure projects
Saudi Arabia had inked contracts worth SAR6.5 billion ($1.7 billion) in January and now plans to award more than 25 new projects later this month, according to a report by Saudi Contractors' Authority (SCA). And out of this, nearly half of them cover infrastructure, housing and industry, stated SCA in its report which was published this week in its online Muqawil (contractor) bulletin. Most of the projects being awarded this month will come from Saudi Electricity Company, the National Housing Company, the Public Investment Fund (PIF) and NEOM, it said. The SCA report showed construction accounted for more than half the value of projects awarded in January, standing at around SAR3.7 billion ($1 billion) followed by water and energy contracts worth SAR1.45 billion and industry in third place with a value of SAR1.36 billion ($362 million). As per the report, Saudi capital Riyadh had the lion's share of the projects in January to the tune of around SAR4.8 billion ($1.28 billion). -TradeArabia News Service
Zawya
12-02-2025
- Business
- Zawya
Saudi Arabia to award over 25 projects in February
Saudi Arabia will award more than 25 new projects this month and nearly half of them cover infrastructure, housing and industry, according to a local report. The Gulf Kingdom, which has been locked in a massive construction drive within its Vision 2030, awarded contracts worth nearly 6.5 billion Saudi riyals ($1.7 billion) in January, the Saudi Contractors' Authority (SCA) said in its report. 'Over 25 projects are expected to be awarded in the Kingdom this 50 percent of them involve housing, infrastructure and industry,' SCA said in the report, which was published this week in its online Muqawil (contractor) bulletin. Most of the projects this month would be awarded by the Saudi Electricity Company, the National Housing Company, the Public Investment Fund (PIF) and NEOM, it said. The report showed construction accounted for more than half the value of projects awarded in January, standing at around SAR3.7 billion ($1 billion). Water and energy came second in value, which stood at SAR1.45 billion ($286 million), followed by industry with a value of SAR1.36 billion ($362 million). According to the report, the capital Riyadh had the lion's share of the January projects, with a value of around SAR4.8 billion ($1.28 billion). (Writing by Nadim Kawach; Editing by Anoop Menon)
Zawya
06-02-2025
- Business
- Zawya
SVC Investments solidify Saudi regional leadership in venture capital ecosystem
Riyadh - The Saudi Venture Capital Company (SVC) released its impact report Wednesday, highlighting its contributions to the record growth of the venture-capital (VC) ecosystem in the Kingdom since its establishment in 2018. The report underscores SVC's achievements and their impact on the private investment landscape, including VC, private equity, venture debt, and private debt. According to the report, SVC has a total committed capital of SAR3.7 billion through all its programs, while partners' total committed capital is estimated at SAR18.1 billion. SVC has invested in 54 funds and more than 800 startups and small to medium enterprises (SMEs) across various sectors, particularly e-commerce, financial technology (fintech), healthcare, education technology (edtech), and transport and logistics. The SVC strategy has helped maintain Saudi Arabia's leading position across the Middle East and North Africa (MENA) region in terms of total VC funding in 2024 for the second consecutive year. The achievement reflects the Kingdom's ongoing economic and financial sector development, aligned with the objectives of Vision 2030 aimed at bolstering the national economy. Over the past six years, SVC's strategic approach has successfully increased the number of investors in Saudi startups and SMEs. The company has encouraged financial market institutions to establish specialized VC and private equity funds while attracting both regional and global funds to invest in Saudi companies. SVC launched various developmental initiatives designed to enhance the private investment sector in the Kingdom, including conducting educational programs in collaboration with local and international partners to develop the skills of fund managers and investors. The company supports the development of reports that illuminate the investment landscape in Saudi Arabia, enabling informed investment decisions. SVC Chief Executive and board member Nabeel Koshak emphasized the company's commitment to further stimulating the private investment ecosystem. 'We are dedicated to further stimulating the private investment ecosystem by launching suitable investment programs and products and developmental initiatives based on study and analysis of ecosystem needs,' said Koshak. He added that such initiatives align with regional and global business models, leading to economic diversification and the realization of Vision 2030 goals.
