Saudi Arabia Calls for Adoption of Sustainable Global Aviation

Saudi Minister of Transport and Logistics Services Saleh Al-Jasser speaks at the Future of Aviation conference on Tuesday. (Asharq Al-Awsat)
Saudi Minister of Transport and Logistics Services Saleh Al-Jasser speaks at the Future of Aviation conference on Tuesday. (Asharq Al-Awsat)
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Saudi Arabia Calls for Adoption of Sustainable Global Aviation

Saudi Minister of Transport and Logistics Services Saleh Al-Jasser speaks at the Future of Aviation conference on Tuesday. (Asharq Al-Awsat)
Saudi Minister of Transport and Logistics Services Saleh Al-Jasser speaks at the Future of Aviation conference on Tuesday. (Asharq Al-Awsat)

Saudi Minister of Transport and Logistics Services Saleh Al-Jasser announced that the Kingdom would be hosting the Future of Aviation conference every two years, revealing efforts to find new partners and forge major aviation agreements.

Speaking during the conference on Tuesday, Al-Jasser said Saudi Arabia is “paving the way to establish a clear vision for the future of international aviation, consolidate travelers’ confidence, address challenges, and become a leader in innovation by building sustainable global aviation and achieving customers’ well-being.”

The Future of Aviation conference, which is organized by the General Authority of Civil Aviation in Riyadh, saw on Tuesday a dialogue session on women’s role in the aviation and space industry.

The participants discussed efforts to empower women and encourage their participation in the sector, as well as promoting their leadership and innovation.

Eng. Mishaal Ashemimry, the first Saudi woman in the field of aircraft, spacecraft and missile engineering, emphasized that the Kingdom attaches great importance to the participation of women in the aviation sector. She added that women are encouraged to enter this industry and actively contribute to its different fields.

Dr. Shefali Juneja, India’s representative to the International Aviation Organization (ICAO), stressed the need to improve the perception of women’s participation in the aviation sector, noting that women “have made their mark and achieved great successes.”

Another session on Tuesday tacked sustainability in the aviation system, with the speakers underlining the importance of finding environment-friendly solutions for the supply chains.

They also pointed to the need to focus on the issues of cost, feasibility and practical application of solutions.

The Future of Aviation conference is being attended by an elite of public and business sector leaders, executives and organizers from around the world, with the aim of creating a mechanism for the development of international air travel and offering future solutions to the difficulties facing the industry in the post-pandemic era.

During an open session also held on Tuesday, experts discussed the future of the aviation sector, which they said revolved around people, investments, innovations and infrastructure.

They stressed that digital innovations would accelerate and drive the sector’s recovery efforts, noting that smarter airports and the elimination of sequential procedures would further boost the travel interface system.



Saudi Arabia: Over 16% Growth in Mortgage Financing for Housing Support Beneficiaries in 2024

The Real Estate Development Fund’s pavilion at the Future of Real Estate Forum 2023 in Riyadh. (Real Estate Development Fund)
The Real Estate Development Fund’s pavilion at the Future of Real Estate Forum 2023 in Riyadh. (Real Estate Development Fund)
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Saudi Arabia: Over 16% Growth in Mortgage Financing for Housing Support Beneficiaries in 2024

The Real Estate Development Fund’s pavilion at the Future of Real Estate Forum 2023 in Riyadh. (Real Estate Development Fund)
The Real Estate Development Fund’s pavilion at the Future of Real Estate Forum 2023 in Riyadh. (Real Estate Development Fund)

The Saudi Real Estate Development Fund (REDF) announced on Monday a 16.4% increase in mortgage financing for beneficiaries of housing support programs in 2024, with total financing reaching SAR 62.9 billion ($16.7 billion). This marks a significant rise compared to SAR 54 billion ($14.4 billion) in 2023.

According to the Saudi Press Agency (SPA), December 2024 saw a notable 44% increase in the value of mortgage financing, reaching SAR 9.4 billion ($2.5 billion), compared to SAR 6.5 billion ($1.73 billion) in December 2023. This represents a growth of SAR 2.85 billion ($760 million). Additionally, the number of financing contracts surged by 52% during the same period.

Mansour bin Madi, CEO of the REDF, stated that the total financing in 2024 supported 89,000 financing contracts, compared to 74,000 in 2023—an increase of 15,000 contracts, or 20%.

Bin Madi highlighted that the REDF, in collaboration with the housing ecosystem and strategic partnerships with financing entities and real estate development sectors, is working to enhance homeownership opportunities by offering suitable housing products in the real estate market.

The self-construction product accounted for 14% of the total mortgage financing for beneficiaries of housing support programs. Meanwhile, under-construction housing units comprised 29%, and ready-to-move-in housing units made up 57%.

Bin Madi noted that December 2024 recorded the highest volume of mortgage financing for the year, with SAR 9.38 billion ($2.5 billion), financing approximately 12,340 contracts.

He reaffirmed the REDF’s commitment to strengthening its role in the mortgage financing market by providing diverse housing and financing solutions.

These efforts aim to meet beneficiaries’ preferences, facilitate easier homeownership for “Sakani” program beneficiaries, and align with Saudi Arabia’s Housing Program, he underlined. The program seeks to raise the homeownership rate among citizens to 70% by 2030.