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Saudi Shura Council Calls for Addressing Pandemic Repercussions on Labor Market

The Saudi Shura Council demands the Ministry of Human Resources and Social Development help provide jobs to those affected by pandemic lay-offs (Asharq Al-Awsat)
The Saudi Shura Council demands the Ministry of Human Resources and Social Development help provide jobs to those affected by pandemic lay-offs (Asharq Al-Awsat)
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Saudi Shura Council Calls for Addressing Pandemic Repercussions on Labor Market

The Saudi Shura Council demands the Ministry of Human Resources and Social Development help provide jobs to those affected by pandemic lay-offs (Asharq Al-Awsat)
The Saudi Shura Council demands the Ministry of Human Resources and Social Development help provide jobs to those affected by pandemic lay-offs (Asharq Al-Awsat)

Saudi Arabia’s Shura Council on Monday demanded that the Ministry of Human Resources and Social Development coordinates with specialized parties to reinforce efforts for resolving the repercussions the coronavirus pandemic had on employment in the Kingdom.

Saudi authorities had launched several initiatives like the government covering 60% of salaries in private sector industries hit by the pandemic.

The move came as part of a 9 billion riyal ($2.4bn) economic package, and allows companies forced to consider staff lay-offs to apply for government aid of up to 9,000 Saudi riyals for the next three months.

In other news, the General Authority for Statistics (GASTAT) released its Labor Market Publication for Q3 of 2021.

The publication’s results showed that the unemployment rate of the total population (Saudis and Non-Saudis +15) remained stable at (6.6%) in Q3, 2021. However, the unemployment rate of the male population reached (3.3%), while the female population recorded (17.1%) according to the estimates of the Labor Force Survey for Q3, 2021.

As for the unemployment rate of Saudis (Males and females +15) in Q3 of 2021, the results revealed that it remained stable at (11.3%) compared to the previous quarter. The results also showed that the unemployment rate of Saudi males (+15) in Q3, 2021 fell to (5.9%) compared to (6.1%) in the previous quarter. Furthermore, the unemployment rate of Saudi females (+15) decreased to (21.9%) in Q3, 2021 compared to the previous quarter (22.3%).

The results of the Labor Market Publication for Q3 of 2021 also revealed that the labor force participation rate of total population (Saudis and Non-Saudis +15) in Q3 of 2021 increased to (61.2%) compared to (60.8%) in the previous quarter. However, the labor force participation rate of male population (+15) reached (78.3%), whereas the female population (+15) recorded (35.9%). Moreover, the results indicated that the labor force participation rate of total Saudis (Males and females +15) increased to (49.8%) in Q3 of 2021 compared to (49.4%) in the previous quarter.

On the other hand, the labor force participation rate of Saudi females (+15) in Q3 of 2021 went up from (32.4%) in Q2, 2021 to (34.1%) in Q3, 2021.

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Cityscape Global Returns to Riyadh in November under the Theme 'The Future of Living'

Cityscape Global Returns to Riyadh in November under the Theme 'The Future of Living'
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Cityscape Global Returns to Riyadh in November under the Theme 'The Future of Living'

Cityscape Global Returns to Riyadh in November under the Theme 'The Future of Living'

Riyadh will host the second edition of Cityscape Global, the region’s leading real estate event, in November.

Organized by Saudi Arabia’s Tahaluf, the event is set to be the biggest in the international series’ history.

Taking place from November 11-14 at the Riyadh Exhibition and Convention Center, Malham, Cityscape Global 2024 will be held under the theme "The Future of Living". It will be sponsored by the Ministry of Municipalities and Housing and supported by the General Real Estate Authority and Housing Program, said Tahaluf in a statement on Tuesday.

With a heightened B2B and investment focus for its second edition in Saudi Arabia, Cityscape Global 2024 is poised to retain its standing as the largest property showcase of its kind globally, with over 400 exhibitors, 500 speakers, and seven conferences.

This year, Tahaluf has added additional sector profiles to the Cityscape Global line-up. Joining the portfolio are Stadiums and Attractions, Sustainable Smart Buildings, Smart Hotels, and Developers, in addition to Smart Cities focus throughout the event with a dedicated conference and tech zone.

Cityscape Global will be a platform for international collaboration and knowledge exchange aimed at developing sustainable and future-proof cities within Saudi Arabia and beyond.

"Saudi Arabia's real estate landscape is undergoing an enormous transformation driven by Vision 2030. The comprehensive strategy for the real estate sector aims to achieve the goals of the vision by building a prosperous and solid economy and vibrant, integrated communities in an ambitious nation," said Minister of Municipalities and Housing Majed bin Abdullah Al-Hogail.

Cityscape Global is a major catalyst for this transformation in the real estate sector, as this huge event brings together investors, developers, and industry leaders to showcase and discover major real estate projects and enhance international cooperation between companies operating in the sector, in an effort to create a bright future where opportunities and prosperity are within everyone’s reach, said the statement.

Saudi Federation for Cybersecurity, Programming and Drones (SAFCSP) Board of Directors Chairman Faisal bin Saud Al-Khamisi said: "Our goal at Cityscape Global 2024 is to align with the Vision 2030 set by Crown Prince Mohammed bin Salman for the housing sector."

"We aim to attract investors, developers, innovators, and stakeholders from around the world to showcase their projects, exchange knowledge, establish partnerships, and collaborate in building the cities of tomorrow at the international, regional, and local levels. Our objective is to create a significant advancement in the future of urban life," he added.

The largest Cityscape-branded event in history will incubate investment opportunities through a dedicated investors program and tailored networking opportunities, while also showcasing the intelligent infrastructure, technology-driven solutions, and data-driven planning needed to create efficient, sustainable, and livable urban environments.

Cityscape Global will also highlight Saudi Arabia's sports infrastructure development, emphasizing the eight newly announced stadiums, and will feature a special segment dedicated to stadiums and mega events.

Last year’s edition of the event, also held in the Kingdom, attracted over 300 exhibitors, 55% of which were international, in addition to 160,000 visitors from over 170 countries and more than 10,000 international investors.

The 2023 event hosted the unveiling of $18.3 billion in Saudi-based Real Estate projects - an outcome which earned plaudits from Lord Alan Sugar, the UK entrepreneur and host of the BBC’s The Apprentice, who was a conference speaker. "I was amazed by the vision, scale, and significance of the projects being undertaken in Saudi Arabia. It is inspiring," said Lord Sugar.

Cityscape Global is organized by Tahaluf, a strategic alliance between Informa PLC, SAFCSP, and the Events Investment Fund (EIF).