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Saudi Gazette
08-04-2025
- Business
- Saudi Gazette
NWC starts implementing 30 water and environmental projects worth SR2 billion in Riyadh
Saudi Gazette report RIYADH — The National Water Company, represented by its Central Sector, has begun implementing 30 new water and sewage projects in the Riyadh region. These projects, having pipelines and networks with a total length of 1,955 kilometers, are estimated to cost nearly SR 2 billion. This is part of the company's ongoing efforts to implement its strategic plans to develop infrastructure in both the sectors of water and environmental services. This is based on its initiatives to increase service coverage for its customers. The company stated that it has begun implementing 16 water projects in Riyadh and several governorates in the region, including parts of Riyadh's neighborhoods: Al-Taawun, Janadriyah, Laban, Diriyah, and Dirab, as well as parts of the governorates of Al-Quwaiiyah, Afeef, Al-Dawadmi, Al-Muzahmiyya, Al-Rayn, Al-Kharj, Hawtah Bani Tamim, Al-Hariq, Al-Majma'ah, Al-Zulfi, Thadiq, and the towns of Al-Uyaynah and Al-Jubailah. These projects span a total of 1,192 kilometers of water lines and networks. The National Water Company is also constructing 18 water reservoirs with a total capacity of approximately 85,000 cubic meters and pumping stations with a capacity exceeding 247,000 cubic meters per day, at a total cost of more than SR1 billion. The company has begun implementing 14 sewage projects in the Riyadh region and several governorates, covering parts of the Al-Munsiyah, Al-Mu'aizilah, Al-Hazm, Namar, and Al-Awali neighborhoods. In addition, separate sewage lines have been implemented in several neighborhoods in Riyadh and parts of the governorates of Al-Zulfi, Al-Ghat, Shaqra, Al-Muzahmiyya, Al-Kharj, and Hawtah Bani Tamim. These lines and networks with a total length of 763 kilometers, along with pumping stations with a capacity of 117,000 cubic meters per day, will be implemented at a total cost of over SR902 million. The company indicated that this new package of projects complements the 46 projects announced in May 2024, worth more than SR1.6 billion, in addition to the 20 projects announced in August 2024, worth approximately SR1 billion.
Arab News
08-04-2025
- Business
- Arab News
Saudi Arabia rolls out $533m water, sewerage projects as part of Vision 2030
RIYADH: Saudi Arabia has launched water and sewerage projects worth $533 million in the Riyadh region as part of its efforts to expand public utility services and meet the growing demand. According to a press release from the National Water Co., work has begun on 30 projects covering nearly 2,000 km across Riyadh city and its surrounding governorates. The goal is to expand service coverage and enhance system efficiency. This initiative aligns with the government's Vision 2030 plan, which aims to boost infrastructure investment and improve the quality of life as population and economic activity continue to grow. Of the 30 projects, 16, valued at over SR1 billion ($266 million), are focused on expanding water services. These include the construction of 18 reservoirs with a total storage capacity of 85,000 cubic meters, the installation of more than 1,192 kilometers of new pipelines, and the development of pumping stations with a daily capacity of 247,000 cubic meters. These include parts of the Al-Taawun, Al-Janadriyah, Laban, Al-Diriyah, and Dyrab neighborhoods in Riyadh. Other affected areas include Al-Quway'iyah, Afif, and Al-Dawadmi. They also cover parts of Al-Muzahimiyah, Al-Rayn, and Al-Kharj, as well as Hotat Bani Tamim, Al-Hariq, and Al-Majma'ah. Additionally, the list includes Al-Zulfi, Thadiq, and the Al-Uyaynah and Al-Jubayla centers. The remaining 14 initiatives target sewerage infrastructure in areas such as Al-Munsiyah and Al-Zulfi, adding 763 km of pipelines and lift stations with a total daily capacity of 117,000 cubic meters. These projects are valued at SR902 million. The latest project package follows two significant announcements from last year—46 projects worth SR1.6 billion in May and 20 projects costing nearly SR1 billion in August—highlighting the ongoing investment in the sector. These initiatives, according to the company, are aimed at strengthening water distribution, addressing environmental challenges, enhancing sustainability, and supporting national objectives under Vision 2030. In March, the Saudi Water Authority and National Water Co. signed an agreement to build and operate 16 decentralized purification plants across the Kingdom. This partnership also seeks to improve the availability of drinking water and advance sustainable groundwater desalination technologies. The plants are expected to produce over 18,000 cubic meters of water daily, according to the Saudi Press Agency. Currently, Saudi Arabia treats and reuses 21 percent of its wastewater, with plans to increase this to 70 percent by 2030. The new facilities align with this goal, contributing to environmental sustainability and enhancing service delivery. Designed to serve over 80,000 people, the purification plants will be supported by integrated water treatment and distribution systems, aimed at improving supply reliability in resource-limited regions. This represents a crucial step toward bolstering essential services. Given the Kingdom's ongoing challenges with water scarcity due to its arid climate and limited natural resources, these initiatives are key to fostering innovative solutions in water production, management, and distribution.
Arab News
06-02-2025
- Business
- Arab News
Saudi bank lending hits record $788bn as corporate loans surge
RIYADH: Saudi Arabia's bank loans surged to SR2.96 trillion ($788 billion) in December, marking a 14.39 percent year-on-year increase, according to official data. Figures from the Saudi Central Bank, also known as SAMA, revealed that corporate loans were the main driver, rising 18.6 percent to SR1.6 trillion. This marks the highest annual growth for corporate loans among the lending activity data available in SAMA's reporting since 2021. Real estate activities dominated corporate lending, accounting for 21 percent of the total and rising by 33 percent to SR333.34 billion. This marks an increase from an 18.7 percent share in the same period last year. Wholesale and retail trade accounted for 12.51 percent of corporate lending, reaching SR198.87 billion with an annual growth rate of 10.94 percent. The manufacturing sector, a key component of Vision 2030's economic diversification goals, represented an 11.51 percent share at SR182.95 billion. Electricity, gas, and water supplies contributed 11.51 percent to the total corporate share, growing significantly by nearly 29.12 percent to reach SR182.94 billion. Professional, scientific, and technical activities, though holding a smaller 0.51 percent share of corporate credit, witnessed the most significant surge, with a 40.76 percent annual growth rate to SR8.12 billion. Financial and insurance activities loans followed real estate with the third-highest growth rate, increasing by 31 percent to SR136.6 billion. On the personal loans side, which includes various financing options for individuals, the sector grew 9.87 percent annually to SR1.37 trillion. This expansion underscores the continued confidence in consumer lending and the Kingdom's economic diversification strategies. Saudi banks are significantly increasing their lending to the real estate sector, driven by strong demand, regulatory backing, and growing opportunities for public-private partnerships and foreign investment. This expansion is occurring alongside a shift in monetary policy as interest rates begin to decline in line with the US Federal Reserve's approach, creating a more favorable lending environment. Industry experts at the Real Estate Future Forum highlighted the importance of real estate financing for financial institutions, with Ibrahim Al-Alwan, managing director and partner at Watheeq Financial Services, emphasizing that banks now hold substantial real estate portfolios, requiring effective regulation, risk management, and investment tools to optimize growth. Structured financing solutions, such as securitization and real estate investment funds, also play a key role in attracting institutional and foreign investors. Joe Jabbour, managing director and partner at Boston Consulting Group, highlighted that many investment structures currently in development are designed with foreign investors in mind, reflecting the sector's international appeal. The recent decision by Saudi Arabia's Capital Market Authority to allow foreign investment in listed firms that own real estate in Makkah and Madinah further underscores efforts to expand capital inflows into the sector. At the same time, major projects are reshaping the Kingdom's real estate market, with the Public Investment Fund spearheading nine developments in the Asir region, four of which are already underway. The region is also seeing rapid growth in hospitality infrastructure, with thousands of approved hotel rooms under development. As Saudi Arabia advances its Vision 2030 agenda, innovations such as AI-driven property solutions and 3D-printed construction are expected to further transform the sector. The loan-to-deposit ratio in Saudi banks increased to 83.24 percent in December compared to 80.7 percent in the same period last year, according to SAMA data. The LDR is a key indicator used by banks to measure the proportion of loans granted compared to the deposits they hold. In this case, even though the demand for loans has increased at a faster pace than deposit growth, the ratio has stayed below the regulatory limit of 90 percent.
