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Arab Ministers To Discuss Future Of Mining In Riyadh Next Week

One of the entrances to the Al-Amar gold mine, south of the Saudi capital (Asharq Al-Awsat).
One of the entrances to the Al-Amar gold mine, south of the Saudi capital (Asharq Al-Awsat).
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Arab Ministers To Discuss Future Of Mining In Riyadh Next Week

One of the entrances to the Al-Amar gold mine, south of the Saudi capital (Asharq Al-Awsat).
One of the entrances to the Al-Amar gold mine, south of the Saudi capital (Asharq Al-Awsat).

The Saudi Ministry of Industry and Mineral Resources, in partnership with the Arab Industrial Development, Standardization and Mining Organization (AIDSMO), will hold on Tuesday the 8th Consultative Meeting of Arab Ministers for Mineral Resources.

The meeting will come in conjunction with the Future Minerals Forum, which will take place in Riyadh on Jan. 11-13.

Minister of Industry and Mineral Resources Bandar Al-Khorayef is scheduled to open the consultative meeting, in the presence of all Arab ministers of industry, energy, oil, and mining, and the director-general of the AIDSMO.

The meeting agenda includes a review of AIDSMO’s activities in the mineral resources sector during the period between the seventh and eighth consultative ministerial meetings and the implementation of the relevant recommendations, especially those related to the database of mining ore production and capacity building.

The meeting will also discuss preparations for a mining guiding system for Arab countries, the Arab initiative for metals used in clean energy technologies, and the Arab industrial and mining products orders and offers platform.

In an earlier statement, the Saudi Ministry of Industry and Mineral Resources announced that it would organize on Jan. 11-13 in Riyadh, the International Mining Conference, which will represent an opportunity for governments, companies, and investors to discuss various issues and challenges facing the sector over the past two years.

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$266 Mln Deal Boosts Liquidity in Saudi Housing Market

One of the projects under the Sakani program in Saudi Arabia (Asharq Al-Awsat)
One of the projects under the Sakani program in Saudi Arabia (Asharq Al-Awsat)
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$266 Mln Deal Boosts Liquidity in Saudi Housing Market

One of the projects under the Sakani program in Saudi Arabia (Asharq Al-Awsat)
One of the projects under the Sakani program in Saudi Arabia (Asharq Al-Awsat)

The Saudi Real Estate Refinance Company (SRC), owned by the Public Investment Fund, has signed a SAR 1 billion ($266.7 million) agreement with Bidaya Finance to buy a mortgage portfolio.
The deal is the largest of its kind, aimed at injecting liquidity into Saudi Arabia’s housing market.
The agreement, signed on Sunday, was attended by Housing Minister Majed Al-Hogail, who also chairs SRC, and Abdulaziz Al-Omair, Chairman of Bidaya Finance.
This move supports SRC’s efforts to grow the mortgage market and expand refinancing options, aligning with Vision 2030’s goal of increasing homeownership among Saudi citizens.
SRC CEO Majeed Al Abduljabbar said the deal will boost liquidity and stabilize the housing finance market, helping more Saudis own homes. He added that it builds on SRC’s plan to partner with key lenders and develop a strong secondary mortgage market.
“This agreement is a pivotal step toward achieving the strategic objectives of the Housing Program by increasing homeownership among citizens,” Abduljabbar noted.
“It also aligns with our strategy to forge strategic partnerships with leading financing institutions, fostering the development of an active secondary market for residential mortgages,” he added.
Bidaya Finance CEO Mahmoud Dahduli called the agreement a step forward in offering innovative financing solutions, enabling more citizens to achieve their housing goals and contributing to Vision 2030’s housing targets.
“This strategic collaboration with SRC reinforces our shared role in offering reliable, innovative financing solutions that empower citizens to realize their housing aspirations, aligning with the Housing Program’s goal of increasing homeownership,” Dahduli said.
Established in 2017 by the Public Investment Fund, SRC aims to make home financing more accessible by providing liquidity to lenders and supporting Saudi Arabia’s housing sector under the national transformation plan, Vision 2030.