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    Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

    Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

    Arab states imported 1.73 million agricultural commodities from Egypt

    Arab states imported 1.73 million agricultural commodities from Egypt

    Wheat yield boom boosts Oman’s food security

    Wheat yield boom boosts Oman’s food security

    Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

    Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

    Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

    Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

    Egypt’s agriculture exports rise 17.2 percent in 5 months

    Egypt’s agriculture exports rise 17.2 percent in 5 months

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    • Business & Economy
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      Saudi: 53 new industrial licenses issued in April 2023

      Saudi: 53 new industrial licenses issued in April 2023

      Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

      Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

      Saudi transport authority approves 15 licensing, technical guides for railways

      Saudi transport authority approves 15 licensing, technical guides for railways

      Number of industrial decisions up by 10.56% to 356 in 2021

      Number of industrial decisions up by 10.56% to 356 in 2021

      Egypt’s macroeconomic conditions improving, says minister

      Egypt’s macroeconomic conditions improving, says minister

      Number of BIA passengers up by 26.90% annually YTD APRIL 2023

      Number of BIA passengers up by 26.90% annually YTD APRIL 2023

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      • CES 2017
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      Oman’s health ministry expected to award construction contract for two health centres in Q3

      Oman’s health ministry expected to award construction contract for two health centres in Q3

      Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

      Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

      Oman releases more Sultan Haitham City details

      Oman releases more Sultan Haitham City details

      Construction activity in Saudi Arabia reaches highest level in years: Survey

      Construction activity in Saudi Arabia reaches highest level in years: Survey

      Oman gears up for its first smart city

      Oman gears up for its first smart city

      Saudi real estate ‘booming’ on big office space demand

      Saudi real estate ‘booming’ on big office space demand

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        NEOM’s green hydrogen project is formally under execution: ACWA Power

        NEOM’s green hydrogen project is formally under execution: ACWA Power

        Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

        Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

        Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

        Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

        UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

        UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Total-led consortium to start drilling offshore Lebanon in September

        Total-led consortium to start drilling offshore Lebanon in September

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        • Hospitality
          Qatar: Over 700 hotel keys added in Q1

          Qatar: Over 700 hotel keys added in Q1

          Jordan’s tourism income surges 88% as visitors flock to the country

          Jordan’s tourism income surges 88% as visitors flock to the country

          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

          Leisure sector in Qatar stronger after World Cup 2022

          Leisure sector in Qatar stronger after World Cup 2022

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Saudi to be among world’s big leisure tourism hubs by 2030

          Saudi to be among world’s big leisure tourism hubs by 2030

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        • Agrofood
          • All
          • Agriculture
          • Environment
          • Food
          Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

          Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

          Arab states imported 1.73 million agricultural commodities from Egypt

          Arab states imported 1.73 million agricultural commodities from Egypt

          Wheat yield boom boosts Oman’s food security

          Wheat yield boom boosts Oman’s food security

          Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

          Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

          Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

          Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Trending Tags

          • Business & Economy
            • All
            • Business
            • Economy
            • Finance
            • Industry
            • Technology
            • Trade
            • Transport & Logistics
            Saudi: 53 new industrial licenses issued in April 2023

            Saudi: 53 new industrial licenses issued in April 2023

            Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

            Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

            Saudi transport authority approves 15 licensing, technical guides for railways

            Saudi transport authority approves 15 licensing, technical guides for railways

            Number of industrial decisions up by 10.56% to 356 in 2021

            Number of industrial decisions up by 10.56% to 356 in 2021

            Egypt’s macroeconomic conditions improving, says minister

            Egypt’s macroeconomic conditions improving, says minister

            Number of BIA passengers up by 26.90% annually YTD APRIL 2023

            Number of BIA passengers up by 26.90% annually YTD APRIL 2023

            Trending Tags

            • CES 2017
            • Election Results
            • eSports
          • Construction
            • All
            • Infrastructure
            • Real Estate
            Oman’s health ministry expected to award construction contract for two health centres in Q3

            Oman’s health ministry expected to award construction contract for two health centres in Q3

            Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

            Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

            Oman releases more Sultan Haitham City details

            Oman releases more Sultan Haitham City details

            Construction activity in Saudi Arabia reaches highest level in years: Survey

            Construction activity in Saudi Arabia reaches highest level in years: Survey

            Oman gears up for its first smart city

            Oman gears up for its first smart city

            Saudi real estate ‘booming’ on big office space demand

            Saudi real estate ‘booming’ on big office space demand

            Trending Tags

            • Energy
              • All
              • Oil & Gas
              • Power & Electricity
              • Renewable Energy
              NEOM’s green hydrogen project is formally under execution: ACWA Power

              NEOM’s green hydrogen project is formally under execution: ACWA Power

              Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

              Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

              Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

              Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

              UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

              UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Total-led consortium to start drilling offshore Lebanon in September

              Total-led consortium to start drilling offshore Lebanon in September

              Trending Tags

              • Hospitality
                Qatar: Over 700 hotel keys added in Q1

                Qatar: Over 700 hotel keys added in Q1

                Jordan’s tourism income surges 88% as visitors flock to the country

                Jordan’s tourism income surges 88% as visitors flock to the country

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Leisure sector in Qatar stronger after World Cup 2022

                Leisure sector in Qatar stronger after World Cup 2022

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

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              Airport privatization gathers speed in Saudi Arabia

              Oxford Business Group

              April 5, 2016
              in Finance
              0
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              Plans for the privatization of Saudi Arabia’s airports and aviation services are advancing, with the state aiming for full private sector ownership by 2020.
              The move forms part of the government’s efforts to increase productivity and efficiency within its aviation industry and, more broadly, diversify its income streams while reducing state expenditure.

              Significantly, the scheme will also facilitate the separation of the industry regulator and airports operator.

              Collaborative drive
              In mid-November the sector’s regulatory agency, the General Authority for Civil Aviation (GACA), outlined plans to privatize all 27 of the Kingdom’s airports under its operational control through to 2020. Other aviation services such as navigation and IT are also slated to be transferred to the private sector.

              Saudi Arabia’s plans for its aviation industry were high on the agenda at the Jeddah Economic Forum 2016, which took place over a three-day period at the beginning of March.

              The forum explored the opportunities and challenges that Saudi Arabia faces in its plans to transfer state-run entities to private stakeholders under the National Transformation Project.

              Faisal bin Hamad Al Sugair, chairman of the Saudi Civil Aviation Holding Company and a GACA adviser, told forum participants that he expects the privatization drive to gain pace in 2016.

              According to GACA, King Khaled International Airport (KKIA) in Riyadh, the air navigation sector and the IT sector are all slated for privatization by the end of the year.

              Youssef Al Abdan, former director-general of KKIA, told OBG that in addition to producing greater efficiency and improved service, privatization would reduce the burden on the government budget.

              “The process will also help bring Saudi Arabia’s aviation industry in line with international norms, by separating the regulator and the operator,” he said.

              Privatization timeframe
              This process took a key step forward in late February, with news that Dublin Airport Authority (DAA) International, a unit of the Irish state-owned airport operator, had won a tender to manage and run the new Terminal 5 at KKIA.

              Under the agreement, DAA International will operate the facility for an initial five-year term.

              The 106,500-sq-metre domestic terminal, which is scheduled to open in the coming months, according to local media reports, will have the capacity to handle 12m passengers per year. This should help accommodate growing passenger traffic, which climbed by 7.4% in 2015 to 11.7m.

              The rest of KKIA’s operations are also slated for privatization, with the airport’s management to be remodeled as a corporate structure by the end of the first quarter of 2016, according to GACA.

              Privatization of the Jeddah and Dammam airports is scheduled for completion by the end of 2017, with the remaining air hubs, which are largely domestic and smaller-scale service facilities, to be transferred between 2018 and 2020.

              Private sector-led expansion
              Private sector players have already played a part in the expansion work at the Mohammad Bin Abdulaziz Airport in Medina, which began servicing flights last year.

              The 157,000-sq-metre airport was developed as a 25-year build-operate-transfer (BOT) scheme by the TIBAH Consortium, a joint venture comprising of local companies Al Rajhi Holding and Saudi Oger, as well as Turkey’s TAV Airports.

              According to media reports, this was the first such BOT contract to be signed in the Kingdom.

              Under the $1.2bn expansion project, passenger-handling capacity has more than doubled to reach 8m.

              Subsequent builds over the lifespan of the 25-year contract are designed to scale up capacity to 18m and then 40m in anticipation of larger volumes of travelers. Passenger traffic has grown by nearly 20% per annum since 2011.

              Open door for investment
              The privatization process has been crafted with a view to maximizing participation from international investors. There will be no restrictions on international operators who meet the requirements to enter the bidding process, nor will they be required to have a Saudi partner, Al Sugair said in early January.

              “All international companies, operators, who are qualified, can participate,” he told media in early January. “There is no requirement for a local partner, that's up to the companies.”

              Local investment in some airports has been capped at 25% to ensure foreign operators having a majority stake in operating contracts, GACA noted.

              Earlier attempts at aviation privatization have met with investor enthusiasm: the Saudi Airlines Catering Company and the Saudi Ground Services Company were listed on the Saudi Stock Exchange in 2012 and 2015, respectively.

              The initial public offerings were part of a gradual privatization of the individual units of Saudi Airlines, a process initiated in 2006.
              Oxford Business Group
              5 April

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