Latest news with #SR1.8
Saudi Gazette
25-05-2025
- Business
- Saudi Gazette
Saudi Arabia completes SR60.4 billion debt buyback, issues SR60.3 billion in new sukuk
Saudi Gazette report RIYADH — Saudi Arabia's National Debt Management Center (NDMC) has completed an early buyback of government debt maturing between 2025 and 2029, with a total value of approximately SR60.4 billion, while simultaneously issuing SR60.3 billion in new sukuk across five tranches. The initiative is part of NDMC's strategy to enhance the efficiency of public debt management and support the development of the local debt market. It also aligns with broader efforts to strengthen public finances and optimize the government's debt maturity profile over the medium and long term. The new sukuk issuances are structured as follows: The first tranche amounts to SR21.5 billion, maturing in 2032. The second tranche is valued at SR1.8 billion and matures in 2035. The third tranche totals SR14.2 billion with maturity in 2036, while the fourth tranche is SR5.9 billion, maturing in 2039. The fifth and final tranche is SR16.9 billion, with a maturity set for 2040. The transaction reflects continued demand for Saudi sukuk and forms part of the Kingdom's commitment to proactive fiscal planning and sustainable financial policy under Vision 2030. The Ministry of Finance and NDMC appointed HSBC Saudi Arabia, AlAhli Capital, Al Rajhi Capital, AlJazira Capital, and Alinma Investment as joint lead managers for the issuance.
Zawya
15-04-2025
- Health
- Zawya
Riyadh Emir launches 28 healthcare projects worth $1.86bln
RIYADH — Emir of Riyadh Prince Faisal bin Bandar graced in Riyadh on Monday the ceremony of launching 28 healthcare projects in the government, private, and non-profit sectors in the region. The projects are estimated to cost a total of more than SR7 billion with a total capacity of over 3,000 beds. The package of projects included projects in Riyadh's three health clusters worth more than SR1.8 billion. The first health cluster includes nine projects, most notably the 500-bed Women's, Maternity and Children's Hospital (the second medical tower) at King Saud Medical City; the 200-bed medical tower at King Salman Hospital; the 200-bed medical tower at Al-Iman Hospital; and the 30-bed kidney building in Al-Aflaj. The project also included the development of four primary healthcare centers in the neighborhoods of Al-Hazm, Badr, Okaz, and Al-Fawaz; the primary healthcare center in Al-Rabwa, which includes nine clinics and 30 intensive care beds in the long-term care hospital; the five-bed urgent care project at Hawtah Bani Tamim Hospital; and the Al-Qassim Charitable Complex for Hemodialysis and Dentistry, which includes 22 dental clinics and 15 hemodialysis chairs. The launched projects also include the expansion project of Tamir Hospital under Ibrahim Al Sultan Charitable Foundation with a capacity of 30 beds, as was a health center in Rawdat Sudair under Al-Babtain Charitable Foundation). The Third Health Cluster projects included nine new projects, most notably the 300-bed Diriyah General Hospital, the Abdul Moneim Al Rashid Healthcare Center, two specialized dental and rehabilitation centers named after Abdul Moneim Al Rashid, the development of the emergency department at Shaqra Hospital, the establishment of a health center in Umm Al-Manasher, the development of outpatient clinics at Shaqra Hospital, the creation of an endoscopy department at Al-Dawadmi Hospital, and the development of the emergency department at Thadiq Hospital. Prince Faisal bin Bandar also inaugurated eight new private sector health projects worth more than SR5 billion, including the 343-bed Madida Medical Care Company, the 30-bed Riyadh Medical Hospital, the 20-bed Arteh Specialized Hospital, and the 10-bed Banan Medical Hospital. For his part, Minister of Health Fahd Al-Jalajel emphasized that these projects are part of the Ministry of Health's efforts to support the health infrastructure and improve the quality of services provided to beneficiaries, embodying the wise leadership's commitment to providing the best levels of healthcare to beneficiaries across the Kingdom. The minister noted that the integration of the public, private, and non-profit sectors contributes to enabling innovation, adopting smart solutions and digital systems, and attracting distinguished investments in medical technology, health research, and capacity building. This will help achieve a healthy and vibrant society, in light of Saudi Vision 2030. It is noteworthy that these projects are part of the Ministry of Health's efforts to enhance investment attractiveness in the health sector and consolidate effective partnerships between the public and private sectors, contributing to building an innovative and sustainable health environment, in line with the objectives of the Health Sector Transformation Program, which stems from the Saudi Vision 2030. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Saudi Gazette
14-04-2025
- Health
- Saudi Gazette
Riyadh Emir launches 28 healthcare projects worth SR7 billion
Saudi Gazette report RIYADH — Emir of Riyadh Prince Faisal bin Bandar graced in Riyadh on Monday the ceremony of launching 28 healthcare projects in the government, private, and non-profit sectors in the region. The projects are estimated to cost a total of more than SR7 billion with a total capacity of over 3,000 beds. The package of projects included projects in Riyadh's three health clusters worth more than SR1.8 billion. The first health cluster includes nine projects, most notably the 500-bed Women's, Maternity and Children's Hospital (the second medical tower) at King Saud Medical City; the 200-bed medical tower at King Salman Hospital; the 200-bed medical tower at Al-Iman Hospital; and the 30-bed kidney building in Al-Aflaj. The project also included the development of four primary healthcare centers in the neighborhoods of Al-Hazm, Badr, Okaz, and Al-Fawaz; the primary healthcare center in Al-Rabwa, which includes nine clinics and 30 intensive care beds in the long-term care hospital; the five-bed urgent care project at Hawtah Bani Tamim Hospital; and the Al-Qassim Charitable Complex for Hemodialysis and Dentistry, which includes 22 dental clinics and 15 hemodialysis chairs. The launched projects also include the expansion project of Tamir Hospital under Ibrahim Al Sultan Charitable Foundation with a capacity of 30 beds, as was a health center in Rawdat Sudair under Al-Babtain Charitable Foundation). The Third Health Cluster projects included nine new projects, most notably the 300-bed Diriyah General Hospital, the Abdul Moneim Al Rashid Healthcare Center, two specialized dental and rehabilitation centers named after Abdul Moneim Al Rashid, the development of the emergency department at Shaqra Hospital, the establishment of a health center in Umm Al-Manasher, the development of outpatient clinics at Shaqra Hospital, the creation of an endoscopy department at Al-Dawadmi Hospital, and the development of the emergency department at Thadiq Hospital. Prince Faisal bin Bandar also inaugurated eight new private sector health projects worth more than SR5 billion, including the 343-bed Madida Medical Care Company, the 30-bed Riyadh Medical Hospital, the 20-bed Arteh Specialized Hospital, and the 10-bed Banan Medical Hospital. For his part, Minister of Health Fahd Al-Jalajel emphasized that these projects are part of the Ministry of Health's efforts to support the health infrastructure and improve the quality of services provided to beneficiaries, embodying the wise leadership's commitment to providing the best levels of healthcare to beneficiaries across the Kingdom. The minister noted that the integration of the public, private, and non-profit sectors contributes to enabling innovation, adopting smart solutions and digital systems, and attracting distinguished investments in medical technology, health research, and capacity building. This will help achieve a healthy and vibrant society, in light of Saudi Vision 2030. It is noteworthy that these projects are part of the Ministry of Health's efforts to enhance investment attractiveness in the health sector and consolidate effective partnerships between the public and private sectors, contributing to building an innovative and sustainable health environment, in line with the objectives of the Health Sector Transformation Program, which stems from the Saudi Vision 2030.
Arab News
30-03-2025
- Business
- Arab News
SR1.8 billion donated to Jood Regions housing campaign during Ramadan
RIYADH: A total of SR1.8 billion ($491.7 million) was donated to Saudi Arabia's Jood Regions housing campaign over the month of Ramadan. The initiative supported more than 11,479 families with cash donations, financing solutions, housing unit construction donations and in-kind contributions. Abdulaziz Al-Kuraidis, secretary-general of the National Developmental Housing Corporation (Sakan) thanked everyone who donated to the campaign, including King Salman and Crown Prince Mohammed bin Salman, who gave a combined total of SR150 million. 'This widespread participation reflects the spirit of social responsibility among our nation's people and embodies the national vision of providing deserving families with dignified housing stability,' Al-Kuraidis said. 'At the Sakan Foundation, working collaboratively with our partners, we will continue developing innovative initiatives and partnerships that contribute to sustainable development and help achieve Saudi Vision 2030 goals.' Al-Kuraidis said the platform would continue to advance the Sakan Foundation's objectives by implementing comprehensive projects. The Jood Regions campaign aims to provide adequate housing for families across Saudi Arabia. It was first launched during Ramadan 2024 and provided more than 10,000 housing units for families in need across the 13 provinces. The initiative includes events to raise awareness and encourage community participation, bringing together entrepreneurs, leaders and others to ensure citizens can access suitable housing with ease and reliability, fulfilling the goals of developmental housing initiatives. The Wad Al-Iskan platform played a pivotal role in the success of the Jood Regions campaign, Al- Kuraidis has said previously. The platform is another Sakan initiative which allows people to support families to obtain adequate housing by submitting their donations online.
Arab News
06-02-2025
- Business
- Arab News
Hungarian firms plan major tech investment in Saudi Arabia under Vision 2030
RIYADH: An alliance of 25 Hungarian companies is preparing to invest in Saudi Arabia's technology and digital transformation sectors, seizing the opportunities offered by Vision 2030. The announcement, made at the Saudi-Hungarian Business Forum in Riyadh organized by the Federation of Saudi Chambers, underscored the growing economic ties between the two nations, the Saudi Press Agency reported. The forum was attended by Hungarian Parliament Deputy Speaker Istvan Jakab, Saudi-Hungarian Business Council Chairman Marwan Al-Mutlaq, Shoura Council Chairman Ibrahim bin Mohammad Al-Qannas, and Hungarian Ambassador to Saudi Arabia Balazs Selmeci. The initiative builds on the creation of the Hungarian-Saudi Holding Co. last year, a consortium focused on digital transformation and investment partnerships across Saudi Arabia's digital, financial, and food sectors. Trade between Saudi Arabia and Hungary reached SR1.8 billion ($480 million) in 2023, reflecting a 27 percent increase, with the Kingdom's exports surging 216 percent to SR584 million and imports at SR1.2 billion. Jakab highlighted the strength of Hungary's relationship with Saudi Arabia, saying: 'The relationship with the Shoura Council and the Federation of Saudi Chambers is strong,' and emphasized the potential of the holding company to foster investment and collaboration in key sectors. Al-Mutlaq noted Saudi Arabia's growing influence in the tech sector, ranking fourth globally in e-government and tenth in e-commerce. He added that the Saudi-Hungarian Business Council, in its new term, will focus on strengthening investment partnerships and boosting bilateral trade. Hungary has maintained diplomatic ties with Saudi Arabia for over 28 years, contributing to ongoing bilateral cooperation. The country's advanced IT sector presents opportunities to share expertise with Saudi Arabia's growing technology landscape. As part of Saudi Arabia's Vision 2030 plan, the country is making substantial investments in digital transformation, focusing on emerging technologies such as artificial intelligence, cloud computing, and the Internet of things to build a significant digital economy by 2030. Government spending on technology is expected to reach $24.7 billion by 2025, according to a report published by the International Trade Administration. Key initiatives include the Public Investment Fund backing advanced tech firms like Alat, which focuses on AI, semiconductors, and robotics, with projected investments of around $100 billion by 2030.
