New Authority in Jeddah Seeks to Promote Development

The city of Jeddah is preparing for a new phase of development, with the transformation of the city’s project management office into the Jeddah Governorate Development Authority.  (SPA)
The city of Jeddah is preparing for a new phase of development, with the transformation of the city’s project management office into the Jeddah Governorate Development Authority. (SPA)
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New Authority in Jeddah Seeks to Promote Development

The city of Jeddah is preparing for a new phase of development, with the transformation of the city’s project management office into the Jeddah Governorate Development Authority.  (SPA)
The city of Jeddah is preparing for a new phase of development, with the transformation of the city’s project management office into the Jeddah Governorate Development Authority. (SPA)

The city of Jeddah, located on the western coast of Saudi Arabia, is preparing for a new phase of development, with the transformation of the city’s project management office into the Jeddah Governorate Development Authority.

Jeddah is the gateway to international trade and foreign markets. It accommodates one the most important global ports in the Kingdom, the Jeddah Islamic Port, which stretches over an area of 12.5 square kilometers.

The city is also home to many factories that meet international standards and embraces more than 320 commercial centers and markets, which account for more than 21 percent of the commercial centers in the Kingdom.

The authority will seek to develop the city in line with the Kingdom’s Vision 2030 and the economic transformation plan.

Dr. Faisal Al Fadel, member of the Shura Council, said that the Cabinet’s decision to transform the Governorate Projects Management Office into an authority is a qualitative and major organizational shift for the development of the Jeddah region.

He added that the move targets comprehensive development in the various urban, demographic, economic, social, cultural, tourism, environmental, transportation, infrastructure, and digital fields. It also aims to provide the governorate’s needs of services and public facilities.

The authority will have a key role in unifying and harmonizing development decisions among the concerned authorities, with the aim of maximizing the benefits of the community economy, achieving optimal utilization of potentials and resources and meeting the needs of the Jeddah Governorate, Fadel underlined.

The authority will be an independent legal entity that will supervise the governorate’s development initiatives, projects and programs.

“This is a major qualitative leap,” he stated.



Saudi Chemicals Group SABIC Reports Q1 Net Loss of $323 Million

File photo: SABIC accounted for approximately 69% of the sector’s net profits in Q2 2024, with an 85% growth. (SABIC)
File photo: SABIC accounted for approximately 69% of the sector’s net profits in Q2 2024, with an 85% growth. (SABIC)
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Saudi Chemicals Group SABIC Reports Q1 Net Loss of $323 Million

File photo: SABIC accounted for approximately 69% of the sector’s net profits in Q2 2024, with an 85% growth. (SABIC)
File photo: SABIC accounted for approximately 69% of the sector’s net profits in Q2 2024, with an 85% growth. (SABIC)

Saudi chemicals giant SABIC 2010.SE reported a net loss of 1.21 billion Saudi riyals ($323 million) in the first quarter of 2025, compared to a profit of 0.25 billion riyals a year ago.
The company said in February that it planned to cut costs and find new investment opportunities, after reporting worse than expected fourth-quarter results against a sectoral backdrop dominated by margin pressures.
It also reported sales of 34.59 billion riyals in the first quarter of 2025, a 5.8% increase compared to 32.69 billion riyals a year earlier, reported Reuters.
The chemicals industry has been grappling with weak demand and high input costs, leading to lower prices and squeezed margins.