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Egyptian Minister of Cooperation: Govt Proposals are Open to All, Including China

Egyptian Minister of International Cooperation Rania al-Mashat speaks at a panel discussion at the 10th Arab-China Business Conference in Riyadh. (Asharq Al-Awsat)
Egyptian Minister of International Cooperation Rania al-Mashat speaks at a panel discussion at the 10th Arab-China Business Conference in Riyadh. (Asharq Al-Awsat)
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Egyptian Minister of Cooperation: Govt Proposals are Open to All, Including China

Egyptian Minister of International Cooperation Rania al-Mashat speaks at a panel discussion at the 10th Arab-China Business Conference in Riyadh. (Asharq Al-Awsat)
Egyptian Minister of International Cooperation Rania al-Mashat speaks at a panel discussion at the 10th Arab-China Business Conference in Riyadh. (Asharq Al-Awsat)

Egyptian Minister of International Cooperation Rania al-Mashat said on Sunday government proposals are open to all countries, including China.  

Speaking at the “Investment and Financing Along the Belt and Road Initiative (BRI)” panel discussion at the two-day 10th Arab-China Business Conference in Riyadh, Mashat lauded the strong ties between Egypt and China, noting that the Suez Canal Corridor attracts Chinese companies in various fields.  

The Minister stressed that green transformation is one of the essential sectors, saying that it provides opportunities for cooperation between companies in the Arab world and international companies.  

Participants discussed the role of the Belt and Road initiative in promoting economic growth and development in China and the Arab countries and reviewed successful examples of existing partnerships.  

She explained that the Belt and Road Initiative began in 2013 and is a long-term strategy to enhance cooperation and integration between Asia, Europe, the Middle East, and Africa.  

According to the Minister, every country has a strategic vision and seeks to achieve sustainable development goals.  

She explained that the Suez Canal attracted Chinese companies, including TEDA, an industrial developer in the economic zone of Ain Sokhna.  

The Minister pointed out that China was keen to provide funds to the countries of the Belt and Road Initiative to establish development infrastructure projects, stressing the importance of the role of the Asian Infrastructure Investment Bank (AIIB) in increasing Chinese investments in Egypt.  

She explained that development funds are long-term that serve development in general, whether roads, ports, or railways, citing the role of Arab funds in financing the electrical interconnection project between Egypt and Saudi Arabia.  

The 10th Arab-China Business Conference, the largest ever cooperation between the two parties, aims to explore inter-investment opportunities in various sectors. 

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Population Growth Drives Saudi Real Estate Prices to 15th Consecutive Increase

A residential project of the Ministry of Municipalities and Housing (Asharq Al-Awsat)
A residential project of the Ministry of Municipalities and Housing (Asharq Al-Awsat)
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Population Growth Drives Saudi Real Estate Prices to 15th Consecutive Increase

A residential project of the Ministry of Municipalities and Housing (Asharq Al-Awsat)
A residential project of the Ministry of Municipalities and Housing (Asharq Al-Awsat)

Real estate prices in Saudi Arabia have continued their upward trajectory for the fifteenth consecutive quarter since early 2021. In the third quarter of this year, data shows a 2.6% year-on-year increase, driven by a 1.6% rise in residential property prices and a 6.4% increase in commercial properties, while agricultural land prices declined by 8.7%.
According to the General Authority for Statistics (GASTAT), Riyadh recorded the highest property price increase among Saudi regions in the third quarter, with a year-on-year rise of 10.2%, followed by Hail at 5%. In contrast, prices fell in nine administrative regions, with Al-Baha experiencing the steepest decline at 14.3%.
These latest figures are based on an updated methodology from the GASTAT, which uses 2023 as the new base year and incorporates a geographic AI model to better capture transaction types. Satellite images are also used to enhance data quality and accuracy. Methodological updates include broader geographic coverage to better represent administrative regions and revised property classifications, which were applied retroactively to data from 2021 onward.
Real estate experts told Asharq Al-Awsat that the steady rise in property prices since early 2021 reflects high demand for residential properties, fueled by sustained growth and government efforts to encourage homeownership under Vision 2030, which aims to increase homeownership rates among Saudi families to 70%.
Real estate expert Saqr Al-Zahrani explained that the price increase reflects rising demand for residential and commercial properties across Saudi cities and provinces, due to ongoing population growth, urban expansion, and more housing projects aimed at meeting high demand. Government efforts to support and expand residential projects have also played a significant role.
Al-Zahrani expects a slight continued increase in residential property prices in the fourth quarter of 2024, especially with the expansion of housing projects aimed at boosting homeownership in most cities. However, he anticipates this growth rate may moderate somewhat in 2025 if new regulatory measures, financing programs, or incentives are introduced to adjust demand.
In remarks to Asharq Al-Awsat, real estate expert Al-Aboudi bin Abdullah attributed the 2.6% increase in Saudi real estate prices in the third quarter this year, compared to the same period last year, to two main factors. First, residential property prices rose by 1.6%, driven by heightened developer demand in anticipation of further price increases and market activity, as interest rates are expected to remain low into 2025.
The second factor is the 6.4% rise in commercial property prices, spurred by demand for land and commercial and office projects. This demand aligns with major development projects launched under Saudi Arabia’s Vision 2030.