Arab transport ministers meet in Egypt

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Al-Khalb saaid the transport system in Saudi Arabia has seen many transformations and achievements in recent years. (Photo: saudi.gov.sa)
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Saudi Ports Authority President Saad bin Abdul Aziz Al-Khalb attends the 31st meeting of the Arab Transport Ministers Council in Alexandria on Tuesday. (SPA)
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Saudi Ports Authority President Saad bin Abdul Aziz Al-Khalb attends the 31st meeting of the Arab Transport Ministers Council in Alexandria on Tuesday. (SPA)
Updated 24 October 2018
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Arab transport ministers meet in Egypt

  • Saudi Arabia has launched new projects in the sector, improved the efficiency of operational and logistical services

JEDDAH: The Saudi government has always been keen to support every effort to develop joint Arab action for the future of transport in all Arab countries, Saudi Ports Authority President Saad bin Abdul Aziz Al-Khalb said on Tuesday.
He was speaking at the 31st meeting of the Arab Transport Ministers Council, which is being held over two days at the Arab Academy for Science Technology and Maritime Transport in Alexandria, Egypt.
Al-Khalb said: “Arab countries have taken important steps toward coordinating and uniting efforts, visions, and experiences to improve all forms of transport in the region and promote mutual cooperation between them in many areas, including studying Arab cooperation approaches for developing transport systems, establishing transport networks and linking them, and facilitating the transportation of goods and passengers.
“Moreover, the Arab countries have discussed maximizing the use of multimodal transport and Arab land and sea link projects, as well as the development of legislative frameworks to support the partnership between the public and private sectors in the field of transport in Arab countries.”
Al-Khalb said the transport system in Saudi Arabia has seen many transformations and achievements in recent years, owing it to the Saudi leadership’s generous support for the transport sector.
He said: “Saudi Arabia has launched new projects in the sector, improved the efficiency of operational and logistical services, significantly developed the infrastructure, and prepared local talents, in addition to expanding projects for road construction, rail networks, and airport development, improving the efficiency of ports, advancing systems, and simplifying procedures and utilizing their components in various investment and service projects to meet the requirements of development.”


Website launched to support housing project in Saudi Arabia

The Ministry of Commerce and the Ministry of Housing are working together to provide the necessary services for citizens from different social classes. (SPA)
Updated 56 min 56 sec ago
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Website launched to support housing project in Saudi Arabia

  • Real estate financing for January hit SR4.7 billion, and coming months were expected to see even bigger figures, Al-Hogail told Reuters news agency on the sidelines of a housing conference in Riyadh

RIYADH: A new website has been set up to support a housing project for 10,000 units in the Kingdom.
Housing Minister Majid Al-Hogail, and Commerce and Investment Minister Majid Al-Qassabi on Sunday launched Benaa Housing, which will help construction companies and contractors contribute to a development program in the Kingdom.
Benaa Housing aims to speed up the process of building 10,000 housing units in various parts of Saudi Arabia by enabling small and medium enterprises in the construction sector to access and contribute to projects and opportunities. The estimated cost of the project is SR3.5 billion ($910 million).
“The Ministry of Housing is always keen to provide adequate housing, solutions, and services suitable to all families, especially the beneficiaries of the Housing Development Program in all regions of the Kingdom,” Al-Hogail said.
Al-Qassabi said the new platform would generate more business opportunities for small and medium enterprises and provide suitable apartments for middle-class and lower-income families.
“The Ministry of Commerce and the Ministry of Housing are working together to provide the necessary services for citizens from different social classes and groups, and the new platform is the fruit of these efforts,” he added.
Earlier this month, the housing minister said he expected investments in the real estate financing sector to reach between SR60 billion and SR80 billion this year.
Real estate financing for January hit SR4.7 billion, and coming months were expected to see even bigger figures, Al-Hogail told Reuters news agency on the sidelines of a housing conference in Riyadh.
Saudi home ownership was growing between 6 and 7 percent annually, he said, adding that he hoped to raise home ownership to 15,000 new households per month by 2020, from a little over 10,000 per month now.
The ministry aims to increase housing ownership through policy and stimulating the private sector, according to its website.
The challenges facing the ministry are the limited availability of suitable units for all parts of the population; difficulty in accessing adequate housing finance; the inefficiency of the real estate sector and heavy reliance on government funding.
“Even though 47 percent of Saudi families already own their homes, we aim to increase this rate by 5 percentage points by 2020,” the Kingdom’s Vision 2030 reform plan states. Vision 2030 also aims to speed up construction and provide Saudis with high-quality, competitively priced housing, and to stimulate localization of the country’s construction industry.