Sudan: Public Outrage Following High Commodity Prices

Demonstrations began over fuel subsidies. (File Photo: Reuters Mohamed Nureldin Abdallah)
Demonstrations began over fuel subsidies. (File Photo: Reuters Mohamed Nureldin Abdallah)
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Sudan: Public Outrage Following High Commodity Prices

Demonstrations began over fuel subsidies. (File Photo: Reuters Mohamed Nureldin Abdallah)
Demonstrations began over fuel subsidies. (File Photo: Reuters Mohamed Nureldin Abdallah)

Consumer goods’ prices increased in Sudan to an extent that it left people unable of meeting their basic needs, whether they are of limited, medium or even high incomes.

This has led to growing public discontent which the government couldn't cope with, except by making promises that cannot withstand the high prices.

Justifications offered by the authorities failed to persuade the people who accused the government of incompetency in providing a decent life for the citizens. Since the announcement of the controversial budget of 2018, commodity prices have increased sharply and incomes remained fixed.

A recent study found that the current minimum wage in the country covers only 7.3 percent of the needs of a family of five. The study found the cost of living is at a minimum of 5,900 Sudanese pounds.

The study, prepared by the Sudanese Central Committee's Central Trade Unions Office last year, stated that the minimum wage in Sudan is 625 pounds per month, about 22 dollars at the official dollar rate.

The budget for the year 2018, described as "catastrophic", led to doubled prices at a time when the state failed to control it completely. Under this budget, bread price rose to "one pound" per piece, after it was for two pieces of bread, and the price of meat rose from 70 pounds per kilo to 140.

Other commodities’ prices also increased and doubled, mainly consumer goods.

N. M., wife of an employee and mother of three children, said shopping for a month used to cost 3,000 pounds in 2017, but since the beginning of 2018 the bill has increased to 6,000 pounds per month.

"6000 pounds is not enough to buy the same products I used to buy last year," she said.

The mother stated she had to reduce her shopping list to the necessities and had to buy products made in Sudan. She indicated that the study conducted by the Union Office no longer reflects the reality of middle-class families, let alone the large families, or the low-income families of displaced persons and those living on the outskirts.

In a statement issued last April, the Communist Party asked the workers' union to increase the minimum wage to 1,200 per month. It said that official bodies set the minimum living expenses for a 5-member family with 6,000 pounds with a minimum wage of 625 pounds.

The party recommended the authorities increase the minimum wage to 1200 pounds, although it barely covers expenses for five days of a month.

The Central Bureau of Statistics indicated that inflation rose to 57.65 percent in April, after it was in January of the same year about 52.37 per cent.

According to a statement issued by the agency, Food and Beverage Group is the main contributor to the inflation, with 55.74 percent in the rates.

Earlier this year, the government approved economic measures that included raising the dollar in banks to 18 pounds, compared to 6.6 pounds, raising subsidies on wheat and assigned its import to the private sector, which led to a 100 percent rise in bread prices.

Prime Minister Bakri Hassan Saleh has ordered the establishment of "reduced markets" for major commodities, but the idea is highly criticized by citizens.

H.A, worker, stated that the prices of goods offered in these markets doesn’t differ much from their price in other markets, adding that their quality is poor and many important items are not available.

Since the outbreak of the economic crisis and the terrible deterioration in the exchange rate of the Sudanese pound, President Omar al-Bashir has been holding a regular meeting with ministers of the economic sector and the Central Bank.

During those meetings, decisions were made to declare war on corruption. They also agreed to reduce excess liquidity by restricting withdrawals from bank accounts in order to stop the depreciation of the pound against foreign currencies.

This led to increase of Sudanese pound in parallel market to 37 pounds per dollar, however, prices of major commodities and consumer prices continued to rise.



Saudi Real Estate Market Maintains Investment Momentum Despite War Fallout

Residential developments in Saudi Arabia (Ministry of Municipalities and Housing)
Residential developments in Saudi Arabia (Ministry of Municipalities and Housing)
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Saudi Real Estate Market Maintains Investment Momentum Despite War Fallout

Residential developments in Saudi Arabia (Ministry of Municipalities and Housing)
Residential developments in Saudi Arabia (Ministry of Municipalities and Housing)

Saudi Arabia's real estate market continues to attract investment despite geopolitical challenges weighing on economic activity worldwide, supported by new housing developments and efforts to expand residential supply.

The Ministry of Municipalities and Housing announced that more than 15,000 residential land plots had been made available through the Sakani platform across the Kingdom between the beginning of 2026 and the end of October, alongside additional projects launched by private-sector developers.

The developments underscore the sector's continued momentum and its importance to the Saudi economy.

Government initiatives and private-sector projects aim to expand housing supply and meet growing demand, reinforcing real estate's position as a key driver of economic growth and diversification.

Strong domestic demand and ongoing urban development projects continue to underpin the market's appeal, attracting investment from both Saudi and international investors.

Against a backdrop of geopolitical uncertainty and war-related disruptions to trade, supply chains, financing costs and construction expenses, the real estate sector has gained importance as an industry driven largely by domestic demand and capable of sustaining economic activity.

Private-Sector Investment

Despite mounting global economic volatility and geopolitical tensions, Saudi Arabia's real estate market continues to attract international investment, supported by clear economic policies, expanding development opportunities and strong housing demand.

Real estate developer Arada recently announced its entry into the Saudi market through a partnership with local company XTOPIA, backed by a SAR 50 billion ($13.3 billion) portfolio of land and development opportunities.

The partnership's first project is a SAR 14 billion residential development in Riyadh's Al Rimal district.

Riyadh Region Municipality, the Ministry of Municipalities and Housing, and the National Center for Privatization & PPP also recently announced the launch of the expression of interest, prequalification and proposal submission stages for a joint land investment project.

The initiative involves developing a municipal land plot in northern Riyadh through a 50-year partnership with the private sector, marking the municipality's first project under the joint investment model.

Real estate specialists described the initiative as an important step toward enabling private investors to develop property assets into sustainable projects with significant economic value.

They said the extended investment period would encourage developers to improve construction quality and services, strengthen project feasibility, diversify real estate offerings and increase supply in one of the capital's most expensive neighborhoods.

Balancing the Real Estate Market

The importance of releasing more residential land lies in achieving greater balance in the property market, a government objective outlined by Crown Prince and Prime Minister Mohammed bin Salman.

The strategy seeks to increase housing supply by making more land available, broadening the options accessible to Saudi citizens and enabling more households to move from searching for a home to building and owning one.

Increasing the availability of residential land, particularly in cities and governorates experiencing rising demand, could ease pressure on land prices over the medium term, provided that plot locations and sizes correspond to actual market needs.

The release of additional land also creates opportunities for real estate developers, contractors, engineering firms and building materials suppliers to benefit from anticipated demand for construction projects.

As a result, businesses across the real estate and construction supply chain could see stronger activity despite the impact of the geopolitical crisis on other economic sectors in the region.

The initiative also expands housing choices, supports efforts to increase homeownership rates and improve quality of life, and encourages urban development beyond major metropolitan centers.

Lowering Prices

Real estate developer Ahmed Omar Basoudan believes the main challenge facing Saudi Arabia's property market in the coming period will not simply be increasing the number of land plots and housing units available.

Rather, he said, the priority must be ensuring that homes reach buyers at prices they can afford, while providing adequate infrastructure and services and keeping development and construction costs under control.

Speaking to Asharq Al-Awsat, Basoudan explained that genuine balance in the real estate market depends on the availability of housing that meets buyers' needs in terms of price, location and quality, rather than simply increasing overall supply.

He said the release of more than 15,000 residential land plots during the first 10 months of the year, together with recently announced private-sector projects, reflected the government's continued commitment to expanding housing supply and providing more residential options.

Basoudan stressed that the latest real estate developments represent an important step toward addressing one of the market's most pressing challenges: achieving a sustainable balance between supply and demand, particularly amid the Kingdom's population growth and continued urban expansion.


Saudi Stocks Rebound 0.9%, Recouping Previous Session's Losses

An investor monitors stock market data on a screen at the Saudi Exchange (Tadawul) in Riyadh (Reuters)
An investor monitors stock market data on a screen at the Saudi Exchange (Tadawul) in Riyadh (Reuters)
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Saudi Stocks Rebound 0.9%, Recouping Previous Session's Losses

An investor monitors stock market data on a screen at the Saudi Exchange (Tadawul) in Riyadh (Reuters)
An investor monitors stock market data on a screen at the Saudi Exchange (Tadawul) in Riyadh (Reuters)

Saudi stocks closed higher on Monday, recovering some of the losses sustained in the previous session as heavyweight shares strengthened and the banking sector advanced.

The benchmark Tadawul All Share Index (TASI) rose 0.90% to close at 10,106 points, gaining 90 points. Total trading value reached approximately SAR 3.5 billion ($933 million).

The index had fallen 0.8% on Sunday amid selling pressure on heavyweight stocks.

Anaam International Holding Group, Fitaihi Holding Group and Raoom were among the session's top gainers, rising between 7% and 9% to close at SAR 11.93, SAR 2.11 and SAR 72.30, respectively.

On the losing side, Almunajem Foods led the declines, shedding 9.20% to SAR 49.94, followed by Saudi Paper Manufacturing Co., which fell 6.18% to SAR 48.88, and Alamar Foods, which dropped 4.63% to SAR 44.06.

At the sector level, banks led the gains, advancing 1.60%, supported by a 2.06% rise in Bank AlJazira shares, which closed at SAR 10.89.


Tesla to Refund Many Cybertruck Deposits as Demand Exceeds Production, Musk Says

Tesla Cybertruck electric vehicles sit parked in a storage lot in San Diego, California on April 11, 2025. (AFP)
Tesla Cybertruck electric vehicles sit parked in a storage lot in San Diego, California on April 11, 2025. (AFP)
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Tesla to Refund Many Cybertruck Deposits as Demand Exceeds Production, Musk Says

Tesla Cybertruck electric vehicles sit parked in a storage lot in San Diego, California on April 11, 2025. (AFP)
Tesla Cybertruck electric vehicles sit parked in a storage lot in San Diego, California on April 11, 2025. (AFP)

Tesla will have to refund Cybertruck deposits for many customers as orders far exceed production capacity, CEO Elon Musk said, following last week's announcement that the electric vehicle maker is winding down the pickup truck's production at its Texas factory.

"We will try ‌to make ‌as many as ‌possible ⁠before shutting down the ⁠line in about 8 months, but will have to return deposits for a lot of people," the billionaire said in a post on X on Monday.

The comments ⁠come after Musk said ‌Tesla would ‌add an extra production shift to fulfill outstanding ‌Cybertruck orders before dismantling the production ‌line next year to expand output of its Cybercab robotaxi.

The production winddown is slated for mid-2027, Musk announced on ‌Friday, with the resources being redirected to the Cybercab, a vehicle ⁠central ⁠to the automaker's autonomous-driving ambitions.

Tesla began delivering the Cybertruck in late 2023, but demand has fallen far short of Musk's expectations. US sales fell 48% to 20,237 units last year, according to Kelley Blue Book, well below Musk's earlier projection that annual Cybertruck sales could reach 250,000 vehicles.