Riyadh Municipality Introduces Investment Opportunities for Private Sector

Riyadh Municipality Introduces Investment Opportunities for Private Sector
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Riyadh Municipality Introduces Investment Opportunities for Private Sector

Riyadh Municipality Introduces Investment Opportunities for Private Sector

The Riyadh Municipality has introduced a range of investment opportunities for 2025 through the electronic platform "FURAS," which serves as the primary source for all investors interested in real estate and municipal investments, aiming to create a conducive environment for investment and enhance economic and urban development in the city.

The opportunities encompass over 20 investment sites featuring a range of activities, with areas totaling more than 175,000 square meters. They include commercial ventures, multi-activity residential and commercial spaces, mobile sports clubs, sites designated for the construction of concrete and building materials factories, as well as a café and an ATM.

This step serves as an extension of the Riyadh Municipality's strategy aimed at strengthening the private sector's involvement in urban development.

It facilitates active participation in the development of facilities and services, fostering integration between government initiatives and investment efforts to address societal needs.

Additionally, it contributes to improving the quality of urban life and advancing the objectives of Vision 2030.



Egyptian Parliament Approves Formation of Saudi-Egyptian Supreme Coordination Council

 Saudi Crown Prince Mohammed bin Salman meets with Egyptian President Abdul Fattah al-Sisi in Riyadh during a previous meeting. (SPA)
Saudi Crown Prince Mohammed bin Salman meets with Egyptian President Abdul Fattah al-Sisi in Riyadh during a previous meeting. (SPA)
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Egyptian Parliament Approves Formation of Saudi-Egyptian Supreme Coordination Council

 Saudi Crown Prince Mohammed bin Salman meets with Egyptian President Abdul Fattah al-Sisi in Riyadh during a previous meeting. (SPA)
Saudi Crown Prince Mohammed bin Salman meets with Egyptian President Abdul Fattah al-Sisi in Riyadh during a previous meeting. (SPA)

The Egyptian Parliament, chaired by Speaker Dr. Hanafy El Gebali, approved on Monday the formation of the Saudi-Egyptian Supreme Coordination Council, aimed at elevating bilateral relations to an unprecedented strategic level.

The establishment of the council was announced in mid-October following discussions between Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, and Egyptian President Abdel Fattah al-Sisi in Cairo.

By the end of last year, the Egyptian government had approved the council’s formation, with an official statement highlighting its goal of “intensifying communication and strengthening cooperation between Saudi Arabia and Egypt across various sectors of mutual interest.”

During a joint press conference with his Saudi counterpart Prince Faisal bin Farhan bin Abdullah in September, Egyptian Foreign Minister Badr Abdelatty emphasized that the Supreme Coordination Council would serve as “an overarching framework to further deepen bilateral relations and expand cooperation across political, economic, trade, developmental, and investment sectors to benefit both nations.”

According to the Egyptian government’s statement, the council will comprise ministers and officials from both countries in relevant fields and will hold regular meetings alternately in both nations, with provisions for extraordinary meetings when necessary. The council will replace the previously established Joint Higher Committee Agreement.

Ahmed Fouad Abaza, chairman of the Egyptian Parliament’s Arab Affairs Committee, stated that the council aims to achieve several strategic objectives, including coordination and consultations on regional and international issues of mutual concern, contributing to security and stability in the region.

He added that the council would boost economic, trade, and investment partnerships by facilitating Saudi investments in Egypt and encouraging private sector collaboration between the two countries. It will also focus on exchanging expertise and information in security and defense, as well as strengthening cooperation in counterterrorism and combating organized crime.

The council will drive cooperation in key sectors such as education, healthcare, agriculture, environmental sustainability, culture, industry, technology, telecommunications, transportation, digital transformation, infrastructure, and energy, among other vital areas, stressed Abaza.