RIYADH: Saudi developer Arriyadh Development Co. has seen its net profit increase by 25 percent during the first quarter of 2022 despite a drop of 3 percent in operating revenues. The company made SR139 million ($37 million) in profit, compared to SR111 million for the same period a year earlier, according to bourse filing. The Riyadh-based firm attributed …

Saudi builder Arriyadh Development profit jumps 25% in Q1 Read More »

RIYADH: Saudi Arabia continues to lead Gulf Cooperation Council countries in the construction sector, accounting for 63 percent of the region’s planned future projects, Meed’s GCC Construction Outlook report revealed. The UAE stood second in this ranking of future projects with a share of 21.5 percent. With some $1.4 trillion worth of construction and transport …

Saudi Arabia leads GCC construction sector with 63% share of region’s future projects Read More »

Kingdom’s decision to halt business with international companies not headquartered in it will accelerate economic growth across GCC, said panellists at Construction Week Leaders’ Summit   Saudi Arabia’s decision to cease doing business with international companies whose regional headquarters are not based within the kingdom, in line with the country’s transformative vision for the future, will accelerate …

How Saudi Arabia is set for economic-growth boom Read More »