NHC Signs 20 Investment Agreements at Real Estate Supply Chains Forum

Riyadh: The National Housing Company (NHC), on the sidelines of the Real Estate Supply Chains Forum, signed 20 agreements with local and international companies on investing in industrial and logistics zones to secure supply chains in the building and construction sector.

The NHC signed agreements with Al Zamil Industry, Trade and Transport Company, Bravat Mena, RAK Ceramics P.J.S.C, Zhejiang Tata Home Sale Co. Ltd, Zhejiang Jiashiyibao Board Co Ltd, and Wuhu COZY Residential Equipment Co. Ltd, to establish factories in the Industrial City and provide logistics services that can contribute to securing supply chains.

Through the Industrial City, NHC seeks to attract investments with major foreign factories in the Kingdom and localize them to secure supply chains for the company’s projects and its subsidiaries, and to ensure their implementation with high quality by benefiting from Chinese expertise in addition to the entry of a number of local factories.

The agreements come as an extension of the strategic
partnership with the Chinese CITIC Group to establish an industrial city and logistics zones, and to contribute to securing construction materials that will facilitate the process of handing over projects to contractors and developers and will also contribute to reducing the costs of constructing residential units.

Source: Saudi Press Agency

QCB Governor Meets Singapore’s Minister for Home Affairs

Doha: HE Governor of Qatar Central Bank (QCB) Sheikh Bandar bin Mohammed bin Saoud Al-Thani met on Tuesday with HE Minister for Home Affairs and Law of the Republic of Singapore K Shanmugam.

During the meeting, they discussed bilateral cooperation relations and topics of common concern.

Source: Qatar News Agency

NDMC Closes May 2024 Issuance Under the Kingdom’s Local Saudi Riyal Sukuk Program with a Total Amount of SAR 3.232 Billion

Riyadh: The National Debt Management Center announced the closure of May 2024 issuance under the Saudi Arabian Government SAR-denominated Sukuk Program. The total amount allocated was set at SAR 3.232 Bn (three billion and two hundred and thirty-two million Saudi Riyals)

The Sukuk issuance was divided into two tranches as follows:

* The first tranche has a size of SAR 71 million (seventy-one million Saudi Riyals) maturing in 2029.

* The second tranche has a size of SAR 3.161 Bn (three billion and one hundred and sixty-one million Saudi Riyals) maturing in 2036.

Source: Saudi Press Agency

Housing Minister Attends Signing of 5 MoUs at Real Estate Supply Chain Forum 2024

Riyadh: Minister of Municipal and Rural Affairs and Housing, Majid bin Abdullah Al-Hogail, has overseen the signing of five memoranda of understanding (MoUs) by the National Housing Company (NHC) with its partners to support and secure supply chains in the real estate development system. This signing or agreement took place on the sidelines of the Real Estate Supply Chains Forum 2024.

The memoranda signed by the National Housing Company included agreements with the Saudi Authority for Industrial Cities and Technology Zones (MODON) to create an industrial city, the Watad platform to create a virtual park, Masdar Company to provide equipment and building materials, Albawardi Company to supply steel industries, and the PENNY platform to offer automation and artificial intelligence solutions.

These MOUs will be implemented in partnership with the Chinese CITIC Group, effectively serving the real estate development system by improving project quality, enhancing local products, and creating 10,000 job opportuniti
es, thereby maximizing the Kingdom’s economic and development impact.

The memoranda stems from the NHC’s efforts to find smart solutions that contribute to securing supply chains and developing the sector. These goals will be achieved by raising the level of business and attracting investments from the best service providers for the company’s various sectors and subsidiaries and other projects in accordance with the highest international standards as per Vision 2030.

NHC is the leader and enabler of the real estate development sector and the largest major developer of suburbs and urban communities in the Kingdom, characterized by quality of life. It aims to deliver over 300,000 housing units by the end of 2025 in nine suburbs and six residential communities, covering an area exceeding 100 million square meters with a capacity to accommodate over 1.5 million citizens.

NHC seeks to find solutions to secure supply chains with high-quality and more sustainable construction materials within the framework of its
commitment to increase real estate supply with residential options according to international standards to achieve the goals of the Kingdom’s Vision 2030 by raising the percentage of residential ownership for Saudi families to 70%.

Source: Saudi Press Agency

Minister of Industry and Mineral Resources Starts Visit to Jordan

Riyadh: Minister of Industry and Mineral Resources Bandar Al-Khorayef began an official visit today to the Hashemite Kingdom of Jordan.

Accompanied by the deputy minister of industry and mineral resources for mining affairs, Eng. Khalid Al-Mudaifer, Alkhorayef is scheduled to meet with Jordanian Prime Minister Bisher Al-Khasawneh; Minister of Industry, Trade and Supply Yousef Al-Shamali; Minister of Energy and Mineral Resources Saleh Al-Kharabsheh; Minister of Investment Khuloud Al-Saqqaf; and investors and company CEOs.

Al-Khorayef is scheduled to make field visits to several Jordanian factories.

The volume of the Kingdom’s exports to Jordan amounted to SAR7.6 billion in 2023, while its total imports from Jordan reached SAR7.5 billion. The Saudi most important exports to Jordan were food products, chemicals, polymers, and building materials, while medicines and food products topped its major imports.

Source: Saudi Press Agency

Al-Khorayef: Saudi Arabia Ambitions Extend Beyond Producing Food Products; It Seeks to Provide Comprehensive Food Security Solutions

Riyadh: Minister of Industry and Mineral Resources Bandar Al-Khorayef emphasized that the food industry sector is not merely a source of food production but a fundamental pillar for achieving the Kingdom’s food security.

During the opening of the Saudi Food Show, held in strategic partnership with the Saudi Authority for Industrial Cities and Technology Zones (MODON) and KAOUN International in Riyadh, Al-Khorayef noted that the Kingdom seeks to offer comprehensive solutions for food security. He added that a food security strategy has been developed to ensure the Kingdom’s needs for essential food products are met under both normal conditions and emergencies. This strategy aligns with several other strategies under the Saudi Vision 2030, including the National Industrial Strategy, the Saudization Strategy, and the Export Strategy.

Al-Khorayef highlighted that the Kingdom has achieved tangible results in food security, meeting its needs for essential food products under all circumstances, including emergenci
es, and enhancing self-sufficiency in many food products. The Kingdom has achieved 100% self-sufficiency in dairy products, 52% in fish, and 68% in poultry. He stated that the Kingdom boasts a robust industrial base with more than 1,500 food factories and investments exceeding SAR88 billion.

He also noted that the Kingdom’s food exports amounted to approximately SAR20 billion in 2023. The Saudi Industrial Development Fund provided 23 loans worth SAR700 million to food factories, and the Saudi Export-Import Bank provided more than SAR3 billion to support food exports during the same year. The minister added that the ministry, in collaboration with its partners, aims to improve industrial infrastructure, encourage investment in the food industry sector, and provide financial and technical support to small and medium-sized enterprises in this sector. Additionally, the ministry is exploring new investment opportunities and increasing production capacities in the meat, poultry, and seafood sectors.

Source: Saud
i Press Agency