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Saudi Fund for Development Provides Over $580 Million in Development Loans to African States

The signing ceremonies took place at the Saudi-Arab-African Economic Conference held in Riyadh. SPA
The signing ceremonies took place at the Saudi-Arab-African Economic Conference held in Riyadh. SPA
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Saudi Fund for Development Provides Over $580 Million in Development Loans to African States

The signing ceremonies took place at the Saudi-Arab-African Economic Conference held in Riyadh. SPA
The signing ceremonies took place at the Saudi-Arab-African Economic Conference held in Riyadh. SPA

The Saudi Fund for Development (SFD) Chief Executive Officer Sultan Al-Marshad signed on Thursday 14 new development loan agreements with 12 African ministers, worth over $580 million to fund projects in healthcare, water, education, and transportation sectors.

The 12 countries are Angola, Burkina Faso, Benin, Burundi, Cabo Verde, Guinea, Malawi, Mozambique, Niger, Rwanda, Sierra Leone, and Tanzania. The signing ceremony took place at the Saudi-Arab-African Economic Conference held in Riyadh.

In conjunction with the loan agreements signing, the SFD CEO signed a Memorandum of Understanding (MoU) with the African Finance Corporation's CEO, Samaila Zubairu. This MoU will enable SFD to collaborate with AFC to identify, develop, and co-finance infrastructure and industrial projects across the continent.

The 14 development loan agreements signed Thursday include the Construction and Equipping of a Mother and Child Referral Hospital in Guinea for $75 million, a Riyadh Referral hospital in Sierra Leone for $50 million, Boarding Secondary Schools for Girls in Several Regions of Niger for $28 million, and the Construction of Higher College For Teacher Preparation And The Scientific Secondary School Project in Benin for $40 million.

In addition, the agreements include the Rehabilitation of the King Khalid University Hospital in Bujumbura, Burundi for $50 million, the Manga Regional Hospital (Phase 2) in Burkina Faso for $17 million, and Watersheds in the Islands of Santiago, Saint Antao, and Boavista, Cabo Verde for $17 million.

The SFD will fund the Catumbela Industrial Development Project (Phase 1) in Angola for $100 million, the Expansion of the Transmission and Distribution Water System in the East of Kigali, Rwanda for $20 million, and the Construction and Rehabilitation of the Mangochi-Makanjira Road in Malawi for $20 million.

Other agreements include the Construction and Equipping of Five Hospitals in different regions of Mozambique for $50 million, the Construction of the Muera Dam in Mozambique for $50 million, the Rehabilitation and Upgrade of Two parts of National Road No. 1 in Mozambique for $50 million and lastly the Benaco to Kyaka Transmission Line Project in Tanzania for $13 million.

These agreements and the MoU will have a positive impact on the lives of millions of people in different regions across Africa by improving access to healthcare, education, water, transportation, and economic opportunities, stimulating economic growth, and creating jobs.

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Business

King Abdulaziz Int’l Airport Records Increase in Passenger Traffic in November 2025

King Abdulaziz International Airport recorded notable growth in operational performance during November 2025. (SPA)
King Abdulaziz International Airport recorded notable growth in operational performance during November 2025. (SPA)
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King Abdulaziz Int’l Airport Records Increase in Passenger Traffic in November 2025

King Abdulaziz International Airport recorded notable growth in operational performance during November 2025. (SPA)
King Abdulaziz International Airport recorded notable growth in operational performance during November 2025. (SPA)

King Abdulaziz International Airport recorded notable growth in operational performance during November 2025 compared to the same period in 2024, the Saudi Press Agency reported on Monday.

The total number of passengers reached 4.86 million, marking an increase of 8.6 percent, while the total number of flights reached 25,900, reflecting a growth of 10.6 percent.

The airport recorded its highest operating day on November 20, 2025, serving more than 176,800 passengers in a single day, representing a 9.6 percent increase compared to the peak day recorded in November 2024. The total number of handled baggage items also rose to 5.6 million, registering a year-on-year growth of 25.4 percent.

From the beginning of 2025 through November 30, the total number of passengers reached 48 million, an increase of 8.9 percent compared to the same period in 2024. Over the same period, the number of flights reached 273,700, reflecting an increase of 8.2 percent.

These figures highlight the continued expansion of services at King Abdulaziz International Airport, one of the region's most prominent aviation hubs. They also underscore ongoing efforts to enhance operational efficiency and provide a seamless and comfortable travel experience, supporting increased travel options and contributing to the growth of tourism and trade.

Business

French Economy Likely to Grow at Least 0.8% in 2025, Finance Minister Says

French Minister for Economy, Finance, and Industrial, Energy and Digital Sovereignty Roland Lescure attends the 7th formal meeting of the Franco-Chinese Business Council in Beijing on December 4, 2025. (Reuters)
French Minister for Economy, Finance, and Industrial, Energy and Digital Sovereignty Roland Lescure attends the 7th formal meeting of the Franco-Chinese Business Council in Beijing on December 4, 2025. (Reuters)
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French Economy Likely to Grow at Least 0.8% in 2025, Finance Minister Says

French Minister for Economy, Finance, and Industrial, Energy and Digital Sovereignty Roland Lescure attends the 7th formal meeting of the Franco-Chinese Business Council in Beijing on December 4, 2025. (Reuters)
French Minister for Economy, Finance, and Industrial, Energy and Digital Sovereignty Roland Lescure attends the 7th formal meeting of the Franco-Chinese Business Council in Beijing on December 4, 2025. (Reuters)

Unless there is a sharp reversal in the final three months of the year, the French economy is likely to grow by at least 0.8% in 2025, outpacing the 0.7% that the government had anticipated, Finance Minister Roland Lescure said on Sunday.

"We will most likely exceed the government's growth forecast for this year. We had predicted 0.7%, but I think we will have at least 0.8%. That's good news," Lescure told LCI television.

"So we would really need to have a bad fourth quarter, which I don't believe will happen, for us to be below 0.8%, so 0.8% is within reach," he added.

France's economy grew 0.5% in the third quarter, final data from statistics office INSEE showed in November, reflecting resilience in the euro zone's second-largest economy.

Business

Saudi Real Estate Shifts from Temporary Upswing to Operational Maturity

Real estate projects in Riyadh (SPA) 
Real estate projects in Riyadh (SPA) 
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Saudi Real Estate Shifts from Temporary Upswing to Operational Maturity

Real estate projects in Riyadh (SPA) 
Real estate projects in Riyadh (SPA) 

Saudi Arabia’s listed real estate sector recorded an exceptional and unprecedented transformation in the third quarter of 2025, with profits surging more than sixfold. Total earnings jumped 633.6 percent to $496 million (SAR 1.86 billion), compared with $67.5 million a year earlier, an indication that the industry has entered a phase of sustained operational maturity rather than a short-term cyclical rebound.

The sharp rise reflects the companies’ success in restructuring their product portfolios, enhancing cash flows, and shifting from “paper growth” to revenue-driven expansion supported by project deliveries and operational income.

Sector analysts attributed the leap in profitability to the rollout of major real estate projects in large cities, higher project quality, improved financing conditions, and stronger liquidity.

They noted that the leap aligns with the rapid expansion of Saudi Arabia’s non-oil economy, which now contributes about 56 percent of GDP. This has strengthened demand across residential, commercial, industrial, and office real estate, supporting profit growth alongside recent regulatory reforms.

During the first nine months of 2025, listed real estate firms achieved combined profits of $1.44 billion (SAR 5.4 billion), led by Cenomi Centers, Jabal Omar, and Masar (Umm Al-Qura for Development and Construction) - a 244 percent increase from the same period in 2024.

Financial disclosures show that nine out of sixteen listed developers reported higher profits in Q3, while four companies returned to profitability. Masar topped the sector in Q3 with SAR 516.6 million in earnings, up 341.9 percent year-on-year. Cenomi Centers ranked second with SAR 499.8 million, a rise of 52.2 percent, followed by Dar Al-Arkan, whose profits climbed 89 percent to SAR 255.6 million.

Real estate specialist Abdullah Al-Mousa told Asharq Al-Awsat that the historic profit surge confirms the sector has “entered a stage of operational maturity,” reflecting companies’ improved efficiency, stronger recurring revenues, and the successful transition to asset-operation models.

He identified three key drivers: higher-quality projects and stronger occupancy across income-generating assets; improved financing conditions amid stabilizing interest rates; and the completion of major projects, particularly in Riyadh and Makkah.

Al-Mousa expects continued positive performance in coming quarters, though at a more moderate pace, supported by new strategic projects entering operation, sustained housing demand, rising commercial activity in Riyadh, and ongoing regulatory reforms that reduce risk and attract institutional investment.

Real estate analyst Salman Saeed said the strength of the non-oil economy has sharply boosted demand in housing, retail, industrial, and office markets. He highlighted reforms such as the expansion of the white-land tax and rental-regulation measures, along with significant government support for homeownership, which has raised the share of Saudi citizens owning homes.

Saeed noted that rising demand for commercial and office space, driven by multinational companies relocating to Riyadh, has lifted occupancy rates and diversified developers’ income streams. Some firms also improved results through land sales and divestment of non-core assets, enhancing operational efficiency.