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Riyadh to Host the 42nd FIABCI Global Leadership Summit in December

Riyadh will host the 42nd FIABCI Global Leadership Summit in December.
Riyadh will host the 42nd FIABCI Global Leadership Summit in December.
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Riyadh to Host the 42nd FIABCI Global Leadership Summit in December

Riyadh will host the 42nd FIABCI Global Leadership Summit in December.
Riyadh will host the 42nd FIABCI Global Leadership Summit in December.

Riyadh is preparing to host the 42nd FIABCI Global Leadership Summit in December to discuss the latest developments in the domestic and international real estate sector.

The summit is slated to bring together a large group of real estate leaders and decision-makers who will share knowledge, best practices, outcome of research and development, and aspects of industry development.

The summit, held with the support and sponsorship of the Real Estate General Authority, will be held amid wide-scale movement in the sector, both locally and globally.

Bringing together a select group of real estate developers, investors and members of the International Real Estate Federation (FIABCI), the summit will also be an opportunity to highlight the pioneering role of the Kingdom in the real estate sector.

Moreover, it will feature major achievements made by the real estate and housing sector in the Kingdom, both in terms of relevant legislation and of major technological and digital developments, which have contributed to regulating the real estate sector and attracting local and international considerable real estate investment.

Real Estate General Authority CEO Eng. Abdullah bin Saud Al-Hammad said the summit this year will be an important platform to share the Kingdom's experience in the real estate sector and highlight its achievements, especially in regards to legislation, in line with the applicable objectives set out in Vision 2030.

The 42nd FIABCI Global Leadership Summit is expected to draw a large number of local and international real estate leaders, developers and investors, in addition to FIABCI members and keynote speakers from more than 110 countries who will take part in discussions and specialized workshops.

Discussions will tackle, among others, efforts to develop the real estate sector in international and regional markets.

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Moody's Upgrades Saudi Arabia's Credit Rating

Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters
Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters
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Moody's Upgrades Saudi Arabia's Credit Rating

Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters
Moody's indicated that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification. Reuters

The credit rating agency “Moody’s Ratings” upgraded Saudi Arabia’s credit rating to “Aa3” in local and foreign currency, with a “stable” outlook.
The agency indicated in its report that the rating upgrade and stable outlook are results of the Kingdom's ongoing progress in economic diversification and the robust growth of its non-oil sector. Over time, the advancements are expected to reduce Saudi Arabia’s exposure to oil market developments and long-term carbon transition on its economy and public finances.
The agency commended the Kingdom's financial planning within the fiscal space, emphasizing its commitment to prioritizing expenditure and enhancing the spending efficiency. Additionally, the government’s ongoing efforts to utilize available fiscal resources to diversify the economic base through transformative spending were highlighted as instrumental in supporting the sustainable development of the Kingdom's non-oil economy and maintaining a strong fiscal position.
In its report, the agency noted that the planning and commitment underpin its projection of a relatively stable fiscal deficit, which could range between 2%-3% of gross domestic product (GDP).
Moody's expected that the non-oil private-sector GDP of Saudi Arabia will expand by 4-5% in the coming years, positioning it among the highest in the Gulf Cooperation Council (GCC) region, an indication of continued progress in the diversification efforts reducing the Kingdom’s exposure to oil market developments.
In recent years, the Kingdom achieved multiple credit rating upgrades from global rating agencies. These advancements reflect the Kingdom's ongoing efforts toward economic transformation, supported by structural reforms and the adoption of fiscal policies that promote financial sustainability, enhance financial planning efficiency, and reinforce the Kingdom's strong and resilient fiscal position.