Saudi Arabia possesses huge investment opportunity in rail; cost obstacle for airlines: Al-Jasser
06/04/2021 Argaam
Saudi Minister of Transport, Saleh Al-Jasser
Saudi Arabia’s Minister of Transport, Saleh Al-Jasser, reviewed today, April 6, 2021, the latest developments in the Kingdom s railway and air transport sector.
During an interview on Al Saudiya TV Channel, Al-Jasser revealed the details of the land bridge project currently underway, emphasizing that it is intended for building a railway link connecting the east to the west of the Kingdom.
It requires the construction of a line from Yanbu to King Abdullah Port, followed Jeddah Port to Riyadh, in addition to developing the existing railway line to the Eastern Region.
Anaam signs non-binding MoU to buy 51% stake in Saudi Wasit Establishment subsidiary
05/04/2021 Argaam
Logo of Anaam International
Anaam International Holding Group signed on April 4, 2021, a non-binding memorandum of understanding (MoU) with Saudi Wasit Establishment for the potential acquisition of 51% stake in Saudi Wasit Factory for Entertainment & Beauty Systems.
The company said in a bourse statement that the MoU will be effective for a period of 60 days after the signing date and the transaction value will be paid in cash from Anaam’s internal resources.
Anaam will carry out due diligence, valuation and negotiate final agreements within the duration of the MoU.
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Saudi Arabia exempts investors in Makkah, Madinah from municipal property rent by 75% for 1 year
16/03/2021 Argaam
Majed Al-Hogail, Minister of Municipal and Rural Affairs and Housing
Saudi Arabia’s Minister of Municipal and Rural Affairs and Housing Majid Al-Hogail announced that the Custodian of the Two Holy Mosques King Salman bin Abdulaziz approved the exemption of investors in Makkah and Madinah from municipal property rent by 75% for one year.
The minister said in a tweet that the value of exemptions exceeded SAR 100 million, which will benefit more than 2,000 facilities.
except for the following:
- The financial and banking sectors that are licensed by the Capital Market Authority (CMA) and the Saudi Central Bank (SAMA).