黑料社区

Saudi sustainable building demand triples

Saudi sustainable building demand triples
黑料社区 is accelerating efforts to make its rapidly growing construction sector more sustainable and environmentally responsible. Shutterstock
Short Url
Updated 12 September 2025

Saudi sustainable building demand triples

Saudi sustainable building demand triples
  • Growth reflects enhancements to ready-built property inspection service
  • 38 new projects have registered for sustainability assessment services

JEDDAH: Demand for environmental performance assessments under 黑料社区鈥檚 Sustainable Building program has tripled over the past five years, highlighting the Kingdom鈥檚 growing focus on eco-friendly development.

The growth follows the launch of the program鈥檚 digital platform, the automation of service procedures, and improved accessibility. It also reflects enhancements to the ready-built property inspection service, which now allows developers to submit detailed inspection requests for villa compounds and apartment buildings, according to a Saudi Press Agency report citing an official press release.

As part of the Kingdom鈥檚 Vision 2030 strategy, the nation is accelerating efforts to make its rapidly growing construction sector more sustainable and environmentally responsible.

Developed by the Ministry of Municipal, Rural Affairs, and Housing, the Mostadam, meaning 鈥渟ustainable,鈥 program is designed to suit the Kingdom鈥檚 local climate and environmental conditions. It promotes sustainable building practices by improving the efficiency of energy, water, and resource use, while supporting economic growth and job creation.

Projects are awarded one of five ratings, ranging from Green to Diamond, based on their compliance with established sustainability criteria.

鈥淭he program noted that six projects received sustainability assessment certificates during the first half of 2025, marking a 200 percent increase compared to the same period in 2024. Moreover, the number of projects granted design conformity certificates rose by 93 percent, reaching 29 projects,鈥 SPA reported.

The release-based report said that 38 new projects, including four communities covering over 8 million sq. meters, have registered for sustainability assessment services, with a combined built-up area exceeding 700,000 sq. meters.

Since its inception in 2018, the platform has issued over 6,000 reports, encompassing property inspections and evaluations of construction quality.

The national program, in cooperation with the Real Estate General Authority, also announced that university students registered with the Saudi Council of Engineers are now eligible to enroll in training programs offered by the Saudi Real Estate Institute, SPA added.

The release said that the initiative aims to support students, enhance their professional readiness, and empower youth by enabling them to develop their skills and create a 鈥淐ertified Engineer鈥 account through the Mostadam platform.

The Sustainability Assessment is the Kingdom鈥檚 first evaluation system aligned with international best practices and the Saudi Building Code. It enables owners and developers to measure the sustainability of new and existing buildings through a comprehensive rating system, from design to maintenance.

The assessment standards were specifically developed to suit the nation鈥檚 climate and environmental conditions, focusing on key areas such as energy, water, health, and quality of life, consistent with the goals of Saudi Vision 2030.


黑料社区 to sustain 4.5%鈥5.5% non-oil growth over next decade: Moody鈥檚聽

黑料社区 to sustain 4.5%鈥5.5% non-oil growth over next decade: Moody鈥檚聽
Updated 25 sec ago

黑料社区 to sustain 4.5%鈥5.5% non-oil growth over next decade: Moody鈥檚聽

黑料社区 to sustain 4.5%鈥5.5% non-oil growth over next decade: Moody鈥檚聽

RIYADH: 黑料社区 is on course to sustain non-oil sector annual growth of 4.5 percent to 5.5 percent through the next five to 10 years as its Vision 2030 diversification program gathers pace, Moody鈥檚 have forecast. 

The rating agency cited strong momentum from services, tourism, and a pipeline of mega events including the 2027 AFC Asian Cup, the 2030 World Expo, and the 2034 FIFA World Cup, all of which are expected to reinforce the Kingdom鈥檚 non-oil expansion and attract sustained private investment.  

Other rating agencies and consultancies share a similar outlook. Fitch Ratings expects 黑料社区鈥檚 non-oil growth to average around 4.5 percent through the medium term, while BMI and Strategic Gears forecast continued expansion in tourism and exports, reflecting broad confidence in the Kingdom鈥檚 Vision 2030 diversification momentum. 

This comes on the back of 黑料社区鈥檚 latest estimate, released on Sept. 30, in which the Ministry of Finance forecast real gross domestic product growth of 4.6 percent in 2026, supported by continued expansion in non-oil activities. 

The ministry鈥檚 pre-budget statement set the 2025 projection at 4.4 percent, driven by a 5 percent increase in non-oil output, underpinned by robust domestic demand, rising employment, and expanding private-sector investment. 

In its latest report, Moody鈥檚 stated: 鈥淣on-oil economic growth, particularly in the services sector, will remain robust as the large-scale projects are implemented and gradually commercialize.鈥 

The agency cautioned that progress on some flagship projects is uneven amid supply bottlenecks, engineering challenges and tighter funding conditions.  

Moody鈥檚 expects authorities to keep diversification outlays relatively high even as oil prices soften, leading to 鈥渕oderate fiscal deficits鈥 and a rise in government debt to more than 36 percent of GDP by 2030 from about 26 percent at end-2024. 

In a separate report on the banking system, Moody鈥檚 said strong credit demand linked to Vision 2030 projects and mortgages has outpaced deposit growth, pushing the sector鈥檚 loan-to-deposit ratio above 100 percent for the first time since 2021 and sustaining reliance on alternative funding.  

鈥淲hile domestic deposits are increasing, mainly supported by inflows from government entities and large companies, credit demand continues to grow at a faster pace,鈥 said the agency.

It noted that Saudi banks have diversified into capital-market issuance and syndicated loans; total bank issuance reached SR56 billion ($14.93 billion) in 2024, up from SR21 billion in 2023, with similar levels expected this year before easing as loan and deposit growth re-align. 

The report added that the Saudi Central Bank has moved to bolster resilience, introducing a 100-basis-point countercyclical capital buffer effective in 2026 and monitoring foreign-currency liquidity and stable-funding ratios 鈥 steps that could moderate loan growth at some institutions.  

Moody鈥檚 also highlighted the role of the Saudi Real Estate Refinance Co. in easing liquidity pressures, with SRC鈥檚 acquired portfolio rising to about 4 percent of the mortgage market and the launch of the Kingdom鈥檚 first residential mortgage-backed security in August, initially for local investors.  

Market funding brings its own risks, Moody鈥檚 said, pointing to a near-doubling of foreign funding as a share of liabilities since 2020 and the banking system鈥檚 net foreign-asset position turning negative in 2024.  

While the agency sees a loss of confidence as unlikely over the next 12 to 18 months, it warned that an abrupt shift could pressure renewals; measured diversification by tenor and geography would help mitigate that risk.  

Another new report by Moody鈥檚 on nonfinancial companies revealed that investment and reforms are lifting multiple non-oil sectors 鈥 hospitality and retail, manufacturing, mining and real estate among them 鈥 even as borrowing needs rise and credit outcomes diverge.  

Moody鈥檚 estimates that cumulative private-sector investments of close to SR8 trillion will be needed by 2030 to sustain growth, with the Public Investment Fund remaining central to catalyzing co-investment.  

PIF鈥檚 direct role is set to remain substantial. Moody鈥檚 projects up to SR1 trillion of PIF investment by 2030 鈥 on top of about SR642 billion over the past five years 鈥 while around SR7 trillion from other private participants will be required to maintain non-oil momentum.  

The scale and complexity of projects such as Neom introduce execution risk, but phased investment and tighter oversight should support delivery.  

Utilities will carry some of the heaviest capital burdens as the energy mix targets a 50/50 split between renewables and gas by 2030. 

Moody鈥檚 estimates at least SR750 billion of sector investment across 2019 to 2030, with the National Renewable Energy Program having launched roughly SR440 billion of projects since 2019. The Ministry of Energy plans to tender about 130 gigawatts of renewable capacity by 2030.  

As of mid-2025, renewables accounted for around 9 GW 鈥 about 10 percent of total generation capacity.  

Saudi Electricity Co., the sole transmitter and distributor, is accelerating grid expansion and interconnections and expects its regulated asset base to grow with elevated capital spending 鈥 rising from an average SR29.4 billion per year since 2019 to about SR50 billion to SR55 billion annually in 2025-30.  

Higher investment needs will strain free cash flow and liquidity, though a supportive regulatory framework and increased indirect subsidies 鈥 SR10.8 billion in 2024, or 12 percent of revenue 鈥 provide offsets.  

Across capital markets, Moody鈥檚 expects more Saudi corporates to tap equity and debt as regulatory upgrades broaden participation, with national champions and private companies aiming to balance expansion with prudent leverage.  

That trend, it said, should gradually deepen the domestic market, diversify funding sources and support a more resilient financing ecosystem. 


Saudia, Alrajhi Bank, Albaik lead 黑料社区鈥檚 most 鈥榩ersuasive鈥 brands: YouGov

Saudia, Alrajhi Bank, Albaik lead 黑料社区鈥檚 most 鈥榩ersuasive鈥 brands: YouGov
Updated 09 October 2025

Saudia, Alrajhi Bank, Albaik lead 黑料社区鈥檚 most 鈥榩ersuasive鈥 brands: YouGov

Saudia, Alrajhi Bank, Albaik lead 黑料社区鈥檚 most 鈥榩ersuasive鈥 brands: YouGov

RIYADH: Saudia, Alrajhi Bank, and Albaik are the top three most persuasive brands in 黑料社区 when it comes to getting people to buy their products, according to a new survey. 

A report from market research and data analytics firm YouGov analyzed shopping attitudes in the Kingdom and compiled a list of companies leading in convincing consumers to spend on their brands. 

The analysis found that retail banks, beauty firms, and telecoms and handset providers are the most successful at converting people who would consider buying their products into those who intend to do so.  

According to the report, Saudia topped all brands across every category, with 72 percent of respondents intending to use the airline once it was considered as an option. 

Alrajhi Bank came second with a conversion rate of 70 percent, followed by Albaik at 65 percent, Almarai at 65 percent, and Apple at 62 percent.  

Toyota followed with a conversion rate of 55 percent, while Samsung and Hilton recorded conversion rates of 49 percent and 47 percent, respectively, once customers began considering their products. 

The survey also found that Huda Beauty has a conversion rate of 45 percent, followed by Dior Beauty at 43 percent. 

Category breakdown  

Among non-carbonated beverage brands, Almarai secured the top spot among Saudi buyers, followed by Saudia, Nadec, Lipton Ice Tea, and Nova. 

Almarai鈥檚 top position comes just months after the company signed an agreement to acquire Pure Beverages Industry Co. for SR1.04 billion ($277 million), aiming to diversify its offerings and strengthen its market position. 

Pure Beverages Industry Co. is a bottled drinking water producer in the Kingdom, known for its 鈥淚val鈥 and 鈥淥ska鈥 brands. 

In the retail banking category, Alrajhi Bank is the most successful at converting customers considering its services into those who intend to use them. 

Alrajhi Bank is followed by Saudi Awwal Bank, Saudi National Bank, Alinma Bank, and Riyad Bank. 

In September, Alrajhi Bank earned an 鈥淎A鈥 rating from MSCI鈥檚 global environmental, social, and governance benchmark, becoming the only financial institution in 黑料社区 to achieve this distinction. 

The recognition also placed the financial institution among the top five banks worldwide with an 鈥淎A鈥 or higher ESG rating, underscoring its leadership in sustainable practices.  

Among beauty brands, Huda Beauty garnered the top spot for conversions, while Dior Beauty, Mac Beauty, Chanel Beauty, and Makeup Forever Beauty made up the remaining popular companies in the segment. 

With a conversion rate of 38 percent, Amazon was named the most persuasive retailer in the Kingdom, followed by Al Othaim, Panda, Lulu Hypermarket, and Shein.  

Apple topped the list among consumer electronics and appliances brands, with Samsung, Huawei, LG and PlayStation grabbing the remaining slots in the top five list.  

Albaik was named the most persuasive brand in the dining, restaurants and eateries category. Other entrants in the list include Hungerstation, McDonald鈥檚, Al Tazaj, and KFC.  

According to YouGov, Toyota is the most persuasive vehicle brand among Saudi customers, followed by Mercedes-Benz, Land Rover, Lexus, and BMW.  

Among hotels and resorts, Hilton topped the list, while the remaining entrants included InterContinental, Movenpick, Hyatt, and Ritz-Carlton.  

Saudia was named the most persuasive travel and airline brand among Saudi customers, followed by Egypt Air, flynas, Emirates, and Almosafer.  

Affinity toward home-made brands 

According to the YouGov survey, six out of 10 residents in 黑料社区 prefer to buy products made in their home country.  

The report revealed that 63 percent of the survey participants aged above 55 prefer products made in 黑料社区.  

Among people aged from 18 to 24, 58 percent prefer buying homemade products, and this figure rises to 60 percent among people between the ages of 25 and 34, and 61 percent among 35- to 44-year-olds.  

The report further said that 58 percent of the participants between the ages of 45 to 54 prefer buying products made in the Kingdom. 


Closing Bell:聽Saudi stock market聽ends week in green with 11,583 points聽

Closing Bell:聽Saudi stock market聽ends week in green with 11,583 points聽
Updated 09 October 2025

Closing Bell:聽Saudi stock market聽ends week in green with 11,583 points聽

Closing Bell:聽Saudi stock market聽ends week in green with 11,583 points聽

RIYADH: 黑料社区鈥檚 Tadawul All Share Index closed higher on Thursday, rising 24.04 points, or 0.21 percent, to end at 11,583.31. 

The total trading turnover for the main index stood at SR4.70 billion ($1.24 billion), with 254.9 million shares changing hands. A total of 119 stocks advanced, while 127 declined. 

The MT30 index, which tracks the performance of the top 30 companies by market capitalization, edged up 2.13 points, or 0.14 percent, to 1,509.75. The Nomu parallel market also climbed 112.17 points, or 0.44 percent, to close at 25,805.42, with 47 gainers and 37 losers. 

Saudi Automotive Services Co. was the session鈥檚 top performer, surging 9.96 percent to SR65.15. 

It was followed by Aldrees Petroleum and Transport Services Co., which gained 6.93 percent to SR142, and Riyadh Cables Group Co., which rose 5.48 percent to SR136.60. 

Other notable gainers included Dallah Healthcare Co., advancing 3.24 percent to SR153, and Liva Insurance Co., which added 2.90 percent to SR13.50. 

On the losing side, Gas Arabian Services Co. fell 4.02 percent to SR16.24, while Methanol Chemicals Co. dropped 3.08 percent to SR10.39. 

Halwani Bros. Co. declined 2.23 percent to SR39.54, followed by Batic Investments and Logistics Co., which slipped 2.16 percent to SR2.27, and National Metal Manufacturing and Casting Co., down 1.93 percent at SR17.30. 

On the announcement front, Rabigh Refining and Petrochemical Co. announced the resignation of two board members, including Noriki Takanishi, vice chairman of the board, and Tetsuo Takahashi, a member of the Audit Committee. 

The company said the resignations are linked to the recent completion of Saudi Aramco鈥檚 acquisition of Sumitomo鈥檚 22.58 percent stake in Petro Rabigh, following a share sale transaction between Saudi Aramco and Sumitomo Chemical Co. Ltd. 

The board also approved the appointment of Abdullah Al-Suwehfer and Hamad Al-Daghther as new non-executive members, pending ratification by the general assembly. Shares of Petro Rabigh closed 2.47 percent higher at SR7.90. 


Arab Energy Organization firms post record $280m profit

Arab Energy Organization firms post record $280m profit
Updated 09 October 2025

Arab Energy Organization firms post record $280m profit

Arab Energy Organization firms post record $280m profit

JEDDAH: Arab energy companies posted record net profits of over $280 million in 2024 鈥 their highest ever 鈥 driven by strong business volumes and strategic initiatives, according to the Arab Energy Organization. 

The achievement reflects the resilience of Arab energy firms amid volatile markets and follows efforts to modernize operations and strengthen coordination across member states, said Secretary-General Jamal Al-Loughani during the opening of the organization鈥檚 54th Annual Coordinating Meeting. 

He stressed the importance of providing necessary support to foster growth, enhance prosperity, and achieve their founding objectives, the Kuwait News Agency, or KUNA, reported. 

鈥淎l-Loughani underscored the need to build on previous meetings and their positive outcomes, moving toward a new phase that opens avenues for cooperation among affiliated companies and with national companies of a similar nature and activity in member states,鈥 KUNA reported. 

The official commended the companies鈥 efforts, describing them as a catalyst for deeper Arab cooperation.  He highlighted their 鈥減ivotal and constructive role鈥 in fostering collaboration and creating opportunities to strengthen the petroleum industry across member states, despite challenges arising from regional and global market conditions. 

Al-Loughani also highlighted the 鈥渃ontinuous and constructive鈥 communication maintained between the General Secretariat and the affiliated firms through designated liaison officers, KUNA reported. 

During the meeting, representatives of the organization鈥檚 affiliated companies reviewed major activities for 2024 and the first half of 2025, including commercial and technical operations, financial results, human resources activities, and training programs.  

They also presented several plans and projects aimed at enhancing performance, adapting to current market fluctuations, and maximizing revenue. 

The meeting was attended by representatives of the Arab Shipbuilding and Repair Yard Co., or ASRY, the Arab Energy Fund, the Arab Petroleum Services Co., the Arab Drilling and Workover Co., and the Arab Well Logging and Well Services Co. 

The Arab Energy Organization, formerly known as the Organization of Arab Petroleum Exporting Countries, was restructured and renamed in December following a Saudi-led proposal to broaden its mandate beyond oil to cover the wider energy sector. 

黑料社区鈥檚 ACWA Power, a major renewable energy firm and one of the region鈥檚 key players, reported a 2024 net profit of SR1.75 billion ($466 million), up 5.7 percent year on year, underscoring the Arab energy sector鈥檚 gradual shift toward sustainable growth. 


Aramco raises Petro Rabigh stake to 60% in $702m deal with Sumitomo聽

Aramco raises Petro Rabigh stake to 60% in $702m deal with Sumitomo聽
Updated 09 October 2025

Aramco raises Petro Rabigh stake to 60% in $702m deal with Sumitomo聽

Aramco raises Petro Rabigh stake to 60% in $702m deal with Sumitomo聽

RIYADH: Saudi Aramco completed the acquisition of an additional 22.5 percent stake in Rabigh Refining and Petrochemical Co., known as Petro Rabigh, from Japan鈥檚 Sumitomo Chemical Corp. for $702 million.  

The acquisition, valued at SR7 ($1.87) per share, raises Aramco鈥檚 total ownership to 60 percent and makes it the largest shareholder, while Sumitomo retains 15 percent, the company said in a press release.

The transaction, first announced in August 2024, includes a $1.4 billion capital injection jointly provided by Aramco and Sumitomo to partly prepay Petro Rabigh鈥檚 debt and bolster its balance sheet.

The acquisition marks a significant step in Aramco鈥檚 ongoing strategy to expand its integrated refining, chemicals, and marketing operations.

Hussain Al-Qahtani, Aramco senior vice president of fuels, said: 鈥淧etro Rabigh is a key player in the Kingdom鈥檚 downstream sector and this additional investment by Aramco reflects strong belief in its long-term prospects. It also underscores Aramco鈥檚 focus on downstream expansion and value creation.鈥

He added: 鈥淲e look forward to exploring closer integration with Petro Rabigh, with the aim of unlocking new opportunities and complementing Petro Rabigh鈥檚 broader transformation objectives, which include upgrading its product mix, enhancing asset reliability and optimizing operations.鈥 

The company said the deal underscores its commitment to value creation, business integration, and portfolio diversification across the downstream sector.

It also enhances Aramco鈥檚 capacity to support Petro Rabigh鈥檚 transformation program, which targets operational upgrades, improved yields of high-margin products, and greater plant reliability. 

The Petro Rabigh deal follows a series of acquisitions underscoring Aramco鈥檚 strategy to expand its downstream and international footprint. In 2025, the company acquired a 50 percent stake in Blue Hydrogen Industrial Gases Co. to strengthen its position in low-carbon hydrogen production. 

Late last year, Aramco purchased a 10 percent stake in Horse Powertrain Ltd., advancing its presence in hybrid and internal combustion powertrain technologies, and completed the full acquisition of Chile鈥檚 Esmax Distribucion SpA 鈥 its first downstream retail investment in South America. 

As part of the August 2024 deal, the funding will be executed through Class B shares, fully subscribed by both shareholders, allowing Petro Rabigh to receive new capital without altering its governance framework or diluting other shareholders鈥 voting rights. 

Aramco and Sumitomo also waived $1.5 billion in shareholder loans in two stages 鈥 August 2024 and January 2025 鈥 improving Petro Rabigh鈥檚 capital structure and remediating accumulated losses.

The waiver improves the company鈥檚 capital structure and helps remediate accumulated losses, providing a stronger foundation for future growth.

As of 12:08 p.m. 黑料社区 time, Aramco鈥檚 share on the Saudi Exchange gained 0.38 percent to reach SR92.95, while Petro Rabigh鈥檚 shares rose 1.82 percent to SR7.84.