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New Saudi moves to woo foreign investment

Saudi Arabia is currently working to develop its trade and investment laws with the intent of wooing more foreign direct investments and settling disputes between foreign investors and their local partners. Saudi Arabian General Investment Authority (SAGIA), the country’s investment facilitator, spearheads the move by adding some points of explanation in the current law in addition to putting a set of new conditions. The Kingdom encourages successful […]

August 17

Dubai attracts AED53b real estate investments in first half

The Dubai Land Department has announced that funds invested in the emirates’ real estate market has reached Dh53 billion, with Emiratis ranking highest among Gulf investors with Dh12 billion in spending. A break-down of the investment shows that Arab investors contributed to approximately Dh5 billion — a 111 per cent increase in spending, other Gulf nationals (including those from the UAE) to over Dh16 billion — a […]

August 09

Saudi Arabia awards $22.5b metro contracts

Riyadh (Reuters): The Saudi Arabian government awarded $22.5 billion (Dh82.6 billion) in contracts to three foreign-led consortia on Sunday for the design and construction of the first metro rail system in the capital, Riyadh. The project, which will involve six rail lines extending 176 kilometres and carrying electric, driverless trains, is the world’s largest public transport system currently under development, Saudi officials said. US construction giant Bechtel […]

August 08