Saudi Arabia's construction activity accelerated in August, driven by a robust increase in residential building and stronger new orders. The seasonally adjusted index rose to 55.4 in August from 55.2 in July, according to the latest Alrajhi capital Saudi Construction Index compiled by S&P Global.
Saudi Energy has secured a shariah-compliant Murabaha financing facility with a total committed amount of SAR15.8 billion ($4 billion) from a consortium of seven leading Saudi banks to support its general corporate purposes.
Al Rajhi Capital, a leading financial services provider in Saudi Arabia, has collaborated with top ratings agency S&P Global to launch the "Al Rajhi Capital Saudi Construction Index", a new high-frequency indicator designed to track changes in business conditions across the kingdom’s construction sector.
The Saudi Arabia economy is showing resilience despite a sharp hit to oil production from regional conflict, with a surge in crude prices helping offset the impact, according to a report by Al Rajhi Capital.
Al Ramz Real Estate said it has signed an agreement with a fund managed by Al Rajhi Capital, a leading financial group in Saudi Arabia, to develop two residential towers on a plot spanning over 6,000 sq m in the King Abdulaziz Road District in Makkah.
