First Female Real Estate Office Opens In Saudi Arabia

Saudi businesswoman Amjad Bint Ibrahim Al-Hajji at her office in Riyadh. On the left, photo of eal estate investor Yehya bin Abdullah Al-Jarifani (Asharq Al-Awsat)
Saudi businesswoman Amjad Bint Ibrahim Al-Hajji at her office in Riyadh. On the left, photo of eal estate investor Yehya bin Abdullah Al-Jarifani (Asharq Al-Awsat)
TT
20

First Female Real Estate Office Opens In Saudi Arabia

Saudi businesswoman Amjad Bint Ibrahim Al-Hajji at her office in Riyadh. On the left, photo of eal estate investor Yehya bin Abdullah Al-Jarifani (Asharq Al-Awsat)
Saudi businesswoman Amjad Bint Ibrahim Al-Hajji at her office in Riyadh. On the left, photo of eal estate investor Yehya bin Abdullah Al-Jarifani (Asharq Al-Awsat)

The first female real estate office was inaugurated on Wednesday in Saudi Arabia, reflecting the Saudi leadership’s endeavor to empower Saudi women in line with Vision 2030.

Saudi businesswoman Amjad Bint Ibrahim Al-Hajji has recently entered the real estate sector, registering her name as the first woman to own a real estate office thanks to a long experience in monitoring the sector and her participation in courses and trainings.

Amjad chose to engage in the real estate sector, taking advantage of the facilities provided by the state to women in Saudi Arabia to invest and work in various fields and activities, in addition to her personal experience as she accompanied her late father since her childhood in most of his real estate business.

“It is the happiest day of my life. The dream that haunted me from childhood has come true: To become a real estate investor like men,” she told Asharq Al-Awsat.

She continued: “My late father worked in buying and selling real estate in and around Riyadh, which gave birth to my passion to enter this large investment sector.”

Amjad stressed that her dream was fulfilled thanks to the vision of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz and his Crown Prince Mohammed bin Salman, which allowed women to participate in development programs.

She recounted that on the day of the inauguration of the office, a large number of real estate investors visited her in Riyadh and expressed their willingness to cooperate with her, by asking her to market their real estate projects.

“This approval for the engagement of women into this sector is receiving the blessing, acceptance and encouragement of the Saudi society,” the businesswoman emphasized.

Amjad said that she had enrolled in training courses offered by real estate investor Yehya bin Abdullah Al-Jarifani.

He launched initiatives to empower youth of both genders, qualify them, and spread knowledge and training needs to allow them to enter the labor market through the real estate sector.

The initiatives that kicked off years ago started with employing and training many female and male university students in his small real estate office in Riyadh, which today has turned into a major company.

Over the past years, Al-Jarifani has allowed dozens of students of both genders to work on the hour system, at wages of up to one thousand riyals per month.



Oil Extends Climb on Supply Fears, Trade War Concerns Cap Gains

FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
TT
20

Oil Extends Climb on Supply Fears, Trade War Concerns Cap Gains

FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)
FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown, File)

Oil prices inched higher on Tuesday after threats by US President Donald Trump to impose secondary tariffs on Russian crude and attack Iran, though worries about the impact of a trade war on global growth capped gains.

Brent futures rose 21 cents, or 0.3%, to $74.98 a barrel at 0645 GMT, while US West Texas Intermediate crude futures climbed 22 cents, or 0.3%, to $71.70.

The contracts settled at five-week highs a day earlier.

"Near-term risks are skewed to the upside, with US threats of secondary tariffs on Russian and Iranian oil leading market participants to price for the risks of tighter oil supplies," said Yeap Jun Rong, market strategist at IG, Reuters reported.

However, broader themes still revolve around concerns of upcoming tariffs weighing on global demand, along with prospects of increased supply from OPEC+ and the US, said Yeap.

A Reuters poll of 49 economists and analysts in March projected that oil prices would remain under pressure this year from US tariffs and economic slowdowns in India and China, while OPEC+ increases supply.

Slower global growth would dent fuel demand, which might offset any reduction in supply due to Trump's threats.

After news of Trump's threats initially boosted prices on Monday, traders told Reuters they viewed the president's warnings to Russia, at least, as a bluff.

Trump, on Sunday, told NBC News that he was very angry with Russian President Vladimir Putin and would impose secondary tariffs of 25% to 50% on Russian oil buyers if Moscow tries to block efforts to end the war in Ukraine.

Tariffs on buyers of oil from Russia, the world's second largest oil exporter, would disrupt global supply and hurt Moscow's biggest customers, China and India.

Trump also threatened Iran with similar tariffs and bombings if Tehran did not reach an agreement with the White House over its nuclear program.

"For now, it appears to be just a threat to Russia and Iran. However, if it becomes a reality, it creates plenty of upside risk to the market given the significant oil export volumes from both countries," said ING commodities strategists on Tuesday.

The market will be watching for weekly inventory data from US industry group the American Petroleum Institute later on Tuesday, ahead of official statistics from the Energy Information Administration on Wednesday.

Five analysts surveyed by Reuters estimated on average that US crude inventories fell by about 2.1 million barrels in the week to March 28.