Saudi Arabia Has Potential to Lead Global Coffee Industry Trade

The International Forum for the Sustainability of Saudi Coffee concluded on Sunday in Jazan. (Asharq Al-Awsat)
The International Forum for the Sustainability of Saudi Coffee concluded on Sunday in Jazan. (Asharq Al-Awsat)
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Saudi Arabia Has Potential to Lead Global Coffee Industry Trade

The International Forum for the Sustainability of Saudi Coffee concluded on Sunday in Jazan. (Asharq Al-Awsat)
The International Forum for the Sustainability of Saudi Coffee concluded on Sunday in Jazan. (Asharq Al-Awsat)

The International Forum for the Sustainability of Saudi Coffee highlighted the Kingdom’s potentials to be a global hub for the trade and manufacture of coffee.

The forum, which concluded on Sunday, was organized by the Ministry of Culture in the southern city of Jazan with the participation of local and international experts to mark International Coffee Day.

A set of recommendations were issued at the end of the event, including the importance of Saudi Arabia joining the International Coffee Organization to promote the exchange of experiences, enhance the presence of the local product internationally, and cooperate in the field of research, innovation and development of national capabilities.

The forum stressed the need to help farmers improve production and boost the sector’s sustainability, and to support the innovation and entrepreneurship industry that would contribute to addressing challenges related to strengthening the Saudi coffee value chain.

The participants recommended organizing an annual international forum for Saudi coffee to discuss the achievements, challenges and aspirations, in partnership with the local community, and to study the launch of cultural indicators in cooperation with stakeholders, with the aim to monitor support for the coffee industry.

The second day of the forum concluded with two dialogue sessions that focused on the participation of government and research agencies in the field of coffee industry, in addition to examining the field from a medical angle, and its benefits on the health of the individual and society.

At the beginning of the first session, Dr. Al-Habib Khemira, researcher at the Center for Environmental Research and Studies at Jazan University, reviewed the main Saudi coffee varieties and their cultivation through different stages.

Eng. Bandar Al-Fifi, Director of the National Coffee Component at FAO, stated that coffee was the most consumed beverage around the world. He noted that the average daily demand for coffee consumption was increasing annually, which requires raising the production to meet the high demand.

He also emphasized the importance of teaching the next generation about farming to secure growth for the industry.

Radi Al-Faridi, deputy director general of the National Research and Development Center for Sustainable Agriculture, discussed the importance of cooperation of all authorities in agricultural integration.

“The definition of agricultural sustainability encompasses all environmental, social and economic aspects,” Al- Faridi said.

“Currently coffee is considered the second-largest traded commodity in the world after oil, with the global coffee market value reaching $102 billion in 2020. It is expected that the market will continue to grow to reach a rate of 4.28 percent during the period 2022-2026,” he said.

Moreover, he remarked that as the expansion in the coffee market increases so will the pressure on coffee supply chains.

The last session of the forum concluded with a working paper by researcher Ghadeer Fallata, from the Saudi Food and Drug Authority.

She pointed that around 43 percent of Saudi adults consume caffeine at a rate of less than 300 mg per day, highlighting an increasing growth of commercial activities related to coffee shops.

“There has been steady growth of commercial activities related to cafes, as the Kingdom ranked 11th globally in 2019 in importing tea products, 13th in importing coffee products, and 14th in importing chocolate,” she added.



Greece Headed for ‘Record Year’ for Tourism, Says Minister

Tourists descent Propylaia, the ancient gate of the Acropolis archaeological site in Athens on June 21, 2023. (AFP)
Tourists descent Propylaia, the ancient gate of the Acropolis archaeological site in Athens on June 21, 2023. (AFP)
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Greece Headed for ‘Record Year’ for Tourism, Says Minister

Tourists descent Propylaia, the ancient gate of the Acropolis archaeological site in Athens on June 21, 2023. (AFP)
Tourists descent Propylaia, the ancient gate of the Acropolis archaeological site in Athens on June 21, 2023. (AFP)

Greece is on track for "another record year" for tourism in 2025, despite ongoing labor shortages in a key sector of its economy, Tourism Minister Olga Kefalogianni said on Sunday.

Between January and the end of September, the Mediterranean nation -- long beloved by tourists for its sunny islands and rich archaeological sites -- welcomed 31.6 million visitors, a four-percent increase compared with the same period in 2024, according to Bank of Greece data published in late November.

"Overall, we expect 2025 to be another record year for tourism in our country," Kefalogianni said in an interview with the Greek news agency ANA.

The conservative minister also expressed hope for another bumper year in 2026.

"The indicators for 2026 are already particularly encouraging and allow us to be optimistic," she said.

Since the Covid-19 pandemic, Greece has been breaking annual records in tourism revenues and the number of foreign visitors.

Across 2024, 40.7 million people visited Greece, up 12.8 percent from 2023.

But the uptick has sparked concern over the unchecked construction in several hotspots, while Athens locals have complained that the proliferation of short-term holiday lets has caused rents to skyrocket.

Climate change-fueled heatwaves and increasingly devastating wildfires also pose a threat to the sector, which Prime Minister Kyriakos Mitsotakis has trumpeted since taking office in 2019 in a bid to revive the economy after the financial crisis.

According to the Institute of the Greek Tourism Confederation (INSETE), tourism directly contributed around 13 percent of GDP in 2024 and indirectly to more than 30 percent of GDP.


Iraq Says International Firms in Kurdistan Obliged to Transfer Crude Under Deal

A handout picture released by Iraq's Prime Minister's Media Office on January 2, 2025, shows a partial view of the oil refinery of Baiji north of Baghdad, during the inauguration ceremony of the fourth and fifth units. (Iraqi Prime Minister's Media Office / AFP)
A handout picture released by Iraq's Prime Minister's Media Office on January 2, 2025, shows a partial view of the oil refinery of Baiji north of Baghdad, during the inauguration ceremony of the fourth and fifth units. (Iraqi Prime Minister's Media Office / AFP)
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Iraq Says International Firms in Kurdistan Obliged to Transfer Crude Under Deal

A handout picture released by Iraq's Prime Minister's Media Office on January 2, 2025, shows a partial view of the oil refinery of Baiji north of Baghdad, during the inauguration ceremony of the fourth and fifth units. (Iraqi Prime Minister's Media Office / AFP)
A handout picture released by Iraq's Prime Minister's Media Office on January 2, 2025, shows a partial view of the oil refinery of Baiji north of Baghdad, during the inauguration ceremony of the fourth and fifth units. (Iraqi Prime Minister's Media Office / AFP)

Iraq’s state oil marketer SOMO said on Sunday international producers in Kurdistan were still obliged to send it their crude under a September export agreement, after Norway's DNO said it would not take part in the agreement. 

SOMO said its statement was in response to a Reuters report in ‌September which ‌quoted DNO as ‌saying ⁠it would ‌sell directly to the Kurdish region and had no immediate plans to ship through the Iraq-Türkiye pipeline. 

The September deal between Iraq's oil ministry, Kurdistan's ministry of natural resources and producing companies stipulated that SOMO ⁠will export crude from Kurdish oil fields through ‌the Türkiye pipeline. 

At the ‍time, DNO - the ‍largest international oil producer active in ‍Kurdistan - welcomed the deal but did not sign it, saying it wanted more clarity on how outstanding debts would be paid. 

It said it would continue to sell directly to the semi-autonomous region of ⁠Kurdistan. 

SOMO said on Sunday the Kurdistan ministry of natural resources had reaffirmed its commitment to the deal "under which all international companies engaged in extraction and production in the region's fields are required to deliver the quantities of crude oil they produce in the region to SOMO, except for the quantities allocated ‌for local consumption in the region." 


How 2025 Decisions Redrew the Future of Riyadh’s Real Estate Market

Construction is seen at a real estate project in Riyadh. (SPA)
Construction is seen at a real estate project in Riyadh. (SPA)
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How 2025 Decisions Redrew the Future of Riyadh’s Real Estate Market

Construction is seen at a real estate project in Riyadh. (SPA)
Construction is seen at a real estate project in Riyadh. (SPA)

The Saudi capital underwent an unprecedented structural shift in its real estate market in 2025, driven by a forward-looking agenda led by Prince Mohammed bin Salman, Crown Prince and Prime Minister. Far from incremental regulation, the year’s measures amounted to a deep corrective overhaul aimed at dismantling long-standing distortions, breaking land hoarding, expanding affordable housing supply, and firmly rebalancing landlord-tenant relations.

Together, the decisions ended years of speculation fueled by artificial scarcity and pushed the market toward maturity, one grounded in real demand, fair pricing, and transparency.

Observers dubbed 2025 a “white revolution” for Saudi real estate. The reforms severed the link between property and short-term speculation, restoring housing as a sustainable residential and investment product. Below is a detailed outline of the most significant of these historic decisions:

1- Unlocking land, boosting supply

In March, authorities lifted restrictions on sale, subdivision, development permits, and planning approvals for 81 million square meters north of Riyadh. A similar decision in October freed another 33.24 million square meters to the west.

The Royal Commission for Riyadh City was also mandated to deliver 10,000 - 40,000 fully serviced plots annually at subsidized prices capped at SAR 1,500 per square meter, curbing price manipulation and offering real alternatives for citizens.

2- Rent controls and contractual fairness

To stabilize households and businesses, the government froze annual rent increases for residential and commercial leases in Riyadh for five years starting in September. Enforced through the upgraded “Ejar” platform, the move halted arbitrary hikes while aligning growth with residents’ quality of life.

3- Tougher fees

An improved White Land Tax took effect in August, extending beyond vacant plots to include unoccupied built properties. Annual fees rose to as much as 10% of land value for parcels of 5,000 square meters or more within urban limits, raising the cost of land hoarding and incentivizing prompt development.

4- Investment openness and digital governance

A revised foreign ownership regime allowed non-Saudis - individuals and companies - to own property in designated zones under strict criteria, injecting international liquidity. Transparency was reinforced by the launch of the “Real Estate Balance” platform, providing real-time price indicators based on actual transactions and curbing phantom pricing.

5- Quality and urban standards

Policy shifted from quantity to quality with mandatory application of the Saudi Building Code and sustainability standards for all new developments, ensuring long-term operational value and preventing low-quality sprawl.

Structural shift

Sector specialists told Asharq Al-Awsat the measures represent a qualitative leap in market management, moving Riyadh from a scarcity and speculation-led cycle to a balanced market governed by genuine demand, efficient land use, disciplined contracts, and transparent indicators.

Khaled Al-Mobid, CEO of Menassat Realty Co., said the reforms were timely and corrective after years of rapid price escalation. He noted early positives: slowing price growth, a return to realistic negotiations, increased supply in some districts, and better-quality offerings focused on intrinsic value rather than quick appreciation.

Abdullah Al-Moussa, a real estate expert and broker, described the steps as addressing root causes, not symptoms.

He observed a behavioral shift, especially in northern Riyadh, from “hold and wait” to reassessment, alongside calmer price momentum, renewed interest in actual development, and clearer rental dynamics.

Saqr Al-Zahrani, another market expert, told Asharq Al-Awsat that the reforms tackled structural imbalances by breaking artificial scarcity created by undeveloped land banks.

Opening vast tracts north and west and introducing market-wide indicators restored “organized abundance,” aligning prices with real demand and purchasing power without heavy-handed intervention, he remarked.

He added that recent months have seen weaker demand for raw land and stalled auctions, contrasted with rising interest in off-plan sales and partnerships with developers.

Banks, too, have reprioritized toward projects with operational viability, lifting overall supply quality despite a temporary slowdown in some transactions.

Consumers, meanwhile, are showing greater patience and interest in self-build options, signaling a maturing market awareness.

Outlook

Experts expect the effects to continue through 2027, delivering broad price stability with limited corrections in overheated locations rather than sharp declines.

Homeownership, especially among young buyers, is projected to rise as capital shifts from land speculation to long-term development.

The 2025 decisions were not short-term fixes but the launch of a new social and economic trajectory for Riyadh’s property market, redefining real estate as a housing service and value-adding investment, not a speculative vessel.

As Riyadh advances toward becoming one of the world’s ten largest city economies, its real estate reset offers a model for aligning regulation with quality of life, transparency, and sustainable growth.