Saudi Arabia to Produce 100 Mln Tons of Waste by 2035

Investment opportunities to be offered by the Saudi waste management sector over coming years. (Asharq Al-Awsat)
Investment opportunities to be offered by the Saudi waste management sector over coming years. (Asharq Al-Awsat)
TT

Saudi Arabia to Produce 100 Mln Tons of Waste by 2035

Investment opportunities to be offered by the Saudi waste management sector over coming years. (Asharq Al-Awsat)
Investment opportunities to be offered by the Saudi waste management sector over coming years. (Asharq Al-Awsat)

A Saudi research paper has predicted that around 106 million tons of waste will be produced by the Kingdom by 2035. A labor force of 77,000 workers and around 1,329 facilities and landfills are needed to manage the waste.

The findings of the study were reviewed by CEO of the Saudi Waste Management Center Dr. Abdullah Al Sebaei during a meeting organized by Asharqia Chamber on Monday.

Sebaei noted that the waste management sector in Saudi Arabia continues to offer attractive investment opportunities.

The greatest challenge facing it is found in the production and storage branches of the sector, he added.

More so, the study goes over the six main stages of developing the Kingdom’s waste management sector.

According to researchers, the current stage involves analysis on multiple levels, followed by drafting a regulatory system and attracting investors.

“There is a lack of control and supervision in the various stages of the value chain, a lack of general environmental awareness at the level of individuals and waste producers, and a lack in human qualifications and experiences in the workforce in the sector,” said Sebaei, stressing that the recycling sector is unorganized.

Furthermore, he remarked that the participation of the private sector remains limited.

Farah al-Gharib, a member of Asharqia Chamber’s environmental committee, told Asharq Al-Awsat that real awareness must be raised among investors around the material and developmental benefits of investing in the waste management sector.

Saudi Arabia has carried out a number of structural economic reforms and launched a group of emerging sectors that included waste management which aims at achieving integrated economic and environmental sustainability.

The waste management sector is being developed through increasing its efficiency, establishing comprehensive projects for recycling and reducing all types of pollution.



Construction Begins on ‘Banan City’ Project in Riyadh

Engineers oversee construction work at “Banan City” Project in northern Riyadh (Asharq Al-Awsat)
Engineers oversee construction work at “Banan City” Project in northern Riyadh (Asharq Al-Awsat)
TT

Construction Begins on ‘Banan City’ Project in Riyadh

Engineers oversee construction work at “Banan City” Project in northern Riyadh (Asharq Al-Awsat)
Engineers oversee construction work at “Banan City” Project in northern Riyadh (Asharq Al-Awsat)

Saudi Talaat Moustafa Group announced on Saturday that construction work has commenced on the “Banan City” Project in Riyadh’s northeastern Al-Fursan suburb.
The company stated that operations are underway around the clock, adhering to construction schedules and plans. Heavy and operational equipment are fully deployed to deliver units to owners sequentially.
Banan City is set to be a smart city spanning 10 million square meters in northeastern Riyadh.
It aims to offer an unprecedented quality of life to over 120,000 residents within a gated community. The development will integrate cutting-edge smart city technologies with residential privacy and the latest sustainability standards.
In May, the National Housing Company and Saudi Talaat Moustafa Group laid the foundation for “Banan City” and began accepting reservations.
On July 9, the group disclosed to the Egyptian stock exchange that “Banan City,” described as a sustainable city, has achieved unprecedented sales since its launch in May, surpassing the first-year sales target in just two months.
Hesham Talaat Moustafa, Chairman of Saudi Talaat Moustafa Group, projected the project’s revenue at around 40 billion Saudi riyals ($12 billion), with a total investment cost estimated at 31.4 billion riyals.