Saudi Arabia to lead MENA infrastructure, construction spending over next 15 years

Updated 23 August 2012
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Saudi Arabia to lead MENA infrastructure, construction spending over next 15 years

RIYADH: Saudi Arabia is predicted to lead growth in the Middle East and North African (MENA) region’s infrastructure and construction spending over the next 15 years, a report by Bank of America Merrill Lynch said.
The infrastructure and construction market in the MENA region is among the worlds’ most attractive due to its size.
A total of $4.3 trillion will be invested in construction projects across the MENA region by 2020, an increase of 80 percent compared with current figures.
Saudi Arabia is expected to take the lead in regional infrastructure spending and construction projects as it responds positively to pressing social needs such as labor, housing and education.
The recent approval of the mortgage law will help drive growth in residential construction in response to the current housing shortage.
The construction and infrastructure sub-sectors in Saudi Arabia grew by 177 percent compared to last year and currently account for 46 percent of the 2012-2013 MENA project pipeline totaling $448 billion, according to the report.
“With its young and expanding population, Saudi Arabia should remain the most buoyant market, in line with its overall economic development plan,” the report said.
The MENA region is expected to account for 12 percent of global emerging markets and 4.4 percent of world construction markets within the next decade. Saudi Arabia is expected to continue to lead the way.


Saudi aid center delegation takes part in UN humanitarian affairs meetings

A delegation from the King Salman Humanitarian Aid and Relief Centre (KSRelief) participated in the meeting of the humanitarian affairs section of the UN Economic and Social Council, in New York on Tuesday. (SPA)
Updated 20 June 2018
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Saudi aid center delegation takes part in UN humanitarian affairs meetings

A delegation from the King Salman Humanitarian Aid and Relief Center (KSRelief) was in New York on Tuesday to enhance the efficiency of humanitarian action and raise the capacities of affected and needy peoples.

The delegation participated with the Permanent Mission of Saudi Arabia to the UN in the meetings of the humanitarian affairs section of the UN Economic and Social Council, which are held annually.

The center was represented by spokesman Dr. Samer Al-Jatili, and Director of Partnerships and International Relations Dr. Yahya Al-Shammari.

This year’s meetings dealt with topics focused on making humanitarian action more systematic and coordinated.

Earlier, Saudi Arabia’s UN Ambassador Abdallah Al-Mouallimi met the delegation of KSRelief to discuss the delegation’s participation in the Council.

On Tuesday, a relief convoy of 15 trains from KSRelief moved from Jazan, targeting the people of the governorate of Hodeidah with basic foodstuff and medicines.

The head of the emergency relief department at the center, Fahad Al-Osaimi, said the convoy was carrying 284 tons of basic food baskets and 95 tons of medicines.