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PIF Launches National Real Estate Registration Services Co.

The new Saudi company will create an integrated register of real estate units and link them with geographical information (Asharq Al-Awsat)
The new Saudi company will create an integrated register of real estate units and link them with geographical information (Asharq Al-Awsat)
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PIF Launches National Real Estate Registration Services Co.

The new Saudi company will create an integrated register of real estate units and link them with geographical information (Asharq Al-Awsat)
The new Saudi company will create an integrated register of real estate units and link them with geographical information (Asharq Al-Awsat)

Saudi Arabia’s Public Investment Fund (PIF) has launched the National Real Estate Registration Services Co. to help regulate and develop the local real estate sector through a comprehensive digital platform.

Real estate experts confirmed to Asharq Al-Awsat that the Kingdom is working to facilitate accurate property documentation procedures.

This will stimulate the private sector and national and foreign capital to invest in and develop the Kingdom’s real estate sector so that it matches Saudi aspirations for the next stage.

Last week, Saudi Arabia issued executive regulations for the real estate registration system, with the aim of building an e-registry of lands and properties.

The Minister of Municipal and Rural Affairs and Housing Majed Al-Hogail said that the launch of the new company is a qualitative step that will enhance reliability and transparency in real estate ownership.

Al-Hogail also noted that the National Real Estate Registration Services Co. will help in reducing disputes by building a real estate registry.

For his part, Abdullah Al-Hammad, CEO of the General Real Estate Authority, stated that the launch of the company aligns with PIF’s goals for launching and empowering main sectors to play their role in raising the domestic product and increasing non-oil revenues.

Al-Hammad stated that the company aims to develop procedures and mechanisms for real estate registration. This contributes to enabling and raising the efficiency of the real estate sector and enhances reliability and transparency in services and data by creating an integrated registry that includes an advanced digital database.

Additionally, the move is an important stage in increasing the reliability of ownership, enhancing the accuracy of information about the property, and preserving the rights of dealers in the sector.

Muhammad Al-Murshed, member of the Real Estate Committee in the Chamber of Commerce in Riyadh, told Asharq Al-Awsat that the new company will regulate the sector and facilitate the procedures for documenting property ownership.

Moreover, the National Real Estate Registration Services Co. will stimulate local and foreign capital to enter the Saudi market.

Al-Murshed pointed to the importance of complementary work between the new company and competent authorities to achieve Saudi goals for increasing the reliability and transparency of the local market and reducing real estate disputes.

Launching company also reflects positively on the country's future mega projects and the provision of housing units that suit the beneficiaries of the Ministry of Housing.

Menassat Realty Co. CEO Khalid al-Mubayad said that the goal of the new company is to coordinate between the relevant government agencies and the private sector.

Therefore, the company will search for strategic partnerships with some major real estate developers to facilitate the documentation and in-kind registration of housing units.

The new platform will help build a comprehensive digital database of all public, residential, commercial, and agricultural properties across the Kingdom and ensure transparency in the sector.

The company will also improve the quality of services and access for beneficiaries by developing procedures and mechanisms for registration.

“The new company’s use of advanced digital solutions in its operations, enabling it to link its platform to all relevant government entities, will enhance reliability and transparency in real estate services and data in Saudi Arabia,” said Raid Ismail, co-head of MENA Direct Investments at PIF.

He added that the launch of the company will also increase the attractiveness of the investment ecosystem, and boost the value of national real estate assets.

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Business

Iraq Oil Output Exceeds 5 million bpd

Majnoon oil field near the Iraqi city of Basra (Reuters)
Majnoon oil field near the Iraqi city of Basra (Reuters)
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Iraq Oil Output Exceeds 5 million bpd

Majnoon oil field near the Iraqi city of Basra (Reuters)
Majnoon oil field near the Iraqi city of Basra (Reuters)

Iraq produces more than 5 million barrels of oil per day (bpd), Oil Minister Basim Mohammed told state news agency INA on Saturday.

According to Reuters, Iraq is pushing for a higher OPEC production quota as the economic fallout from the Iran war and new investment by oil majors increase pressure on Baghdad to boost output, potentially putting it at odds with the producer group.

The conflict has hit Iraq particularly hard, forcing major export cuts and depriving the state of oil revenue, which accounted for 88% of government income last year.

Business

IMF: Any Slowdown in AI-driven Growth Would be Factor for Central Banks

IMF Managing Director Kristalina Georgieva speaks during the Annual Meetings Plenary at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 16, 2026. (Photo by Lillian SUWANRUMPHA / AFP)
IMF Managing Director Kristalina Georgieva speaks during the Annual Meetings Plenary at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 16, 2026. (Photo by Lillian SUWANRUMPHA / AFP)
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IMF: Any Slowdown in AI-driven Growth Would be Factor for Central Banks

IMF Managing Director Kristalina Georgieva speaks during the Annual Meetings Plenary at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 16, 2026. (Photo by Lillian SUWANRUMPHA / AFP)
IMF Managing Director Kristalina Georgieva speaks during the Annual Meetings Plenary at the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) at the Queen Sirikit National Convention Center (QSNCC) in Bangkok on October 16, 2026. (Photo by Lillian SUWANRUMPHA / AFP)

Central bankers around the world would need to consider any slowdown in AI-driven growth as they assess steps in their fight against inflation, International Monetary Fund Managing Director Kristalina Georgieva said on Friday.

Georgieva said concerns about dependence on the AI investment boom and high valuations were impacting markets around the world.

"Things are going up and down, and this is likely to continue," she told an audience at IMF headquarters in Washington, adding that the volatility would complicate the job of central banks at a time when risks to price stability had been growing.

A steep rout in technology stocks on Thursday rippled through markets on fears that ⁠the Democrats' victory ⁠in the US midterm elections would increase regulatory scrutiny of AI and slow the data center build-out, sending investors to the safety of bonds.

The political jitters are hitting an AI trade already on shaky footing due to worry about return on massive spending on AI-related infrastructure, with the meltdown spurring margin calls and spooking retail investors and hedge ⁠funds alike.

Georgieva said the AI investment boom was lifting growth in some countries, helping to offset a negative oil-supply shock triggered by the war in the Middle East, but it was also adding to inflationary pressures and financial stability concerns.

The IMF last month flagged significant growth and financial stability risks from a potential ending of the AI investment boom, among other factors, including a prolonged Middle East war. At the time, it warned that a steep drop in AI investment could lead to a sharp fall in asset prices, ultimately cutting global GDP ⁠by 1.1% ⁠by 2028, including a 1.8% drop in US output.

Georgieva did not repeat the downside forecast on Friday, but acknowledged the recent market volatility.

"Should there be a slowdown in the AI-driven growth impulse, it would need to be factored in as central banks assess the necessary steps in the fight against stubborn inflation," she said.

Democrats are planning to unleash a flood of new legislation targeting artificial intelligence systems and data-center development when they take control of the US Congress in January, Reuters reported on Friday, citing congressional aides and advocates.

That would mark a sharp shift from the Republican-led Congress, where lawmakers largely focused on promoting AI development and declined to pass legislation restricting the technology.

Business

World Food Prices Dip in October, but Remain Higher Than a Year Ago

A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)
A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)
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World Food Prices Dip in October, but Remain Higher Than a Year Ago

A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)
A worker carries loaves of bread for sale at a bakery in the capital city of Cairo, Egypt November 4, 2026. (Reuters)

World food prices edged lower in October as weaker import demand contributed to monthly declines in cereal, dairy and meat prices, but were still nearly 6% higher than a year earlier, the United Nations' Food and Agriculture Organization said on Friday.

The FAO Food Price Index, which tracks monthly changes in international prices for a basket of food commodities, ‌averaged 133.9 points ‌in October, down from a revised ‌135.6 ⁠in September.

The index ⁠was 5.9% higher than a year earlier, but remained 16.4% below its March 2022 peak.

FAO's cereal price index fell 4.5% from September and was 12.6% lower than a year ago, as wheat and maize quotations declined. Wheat prices eased on weak import demand ⁠and improved production prospects, especially in Argentina.

"Expectations of ‌easing constraints on Black ‌Sea export flows added to the downward pressure on prices, ‌although continued disruptions to Black Sea logistics limited the decline," ‌FAO said in a statement.

Maize prices also eased after reaching a three-year high in September, pressured by the US harvest, expectations of ample supplies in South America and renewed ‌prospects of easing tensions in the Black Sea region.

Vegetable oil prices edged up 0.3%, ⁠as ⁠higher soybean and sunflower oil prices more than offset a fall in rapeseed oil prices.

Sugar prices rose 6.6%, their fourth straight monthly increase, to the highest level since December 2024, after rainfall disrupted harvesting in Brazil. They were now 28.8% above a year ago.

The dairy index fell 1.1%, as lower butter and cheese prices linked to ample supplies and subdued demand outweighed gains in milk powder.

The meat index declined 1.2%, while still slightly above its year-earlier level, as ovine and bovine meat prices fell.