Saudi Minister of Commerce: Building Code Fundamental Pillar of National Economy

Saudi Minister of Commerce and Investment Majid al-Qasabi. (SPA)
Saudi Minister of Commerce and Investment Majid al-Qasabi. (SPA)
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Saudi Minister of Commerce: Building Code Fundamental Pillar of National Economy

Saudi Minister of Commerce and Investment Majid al-Qasabi. (SPA)
Saudi Minister of Commerce and Investment Majid al-Qasabi. (SPA)

Saudi Minister of Commerce and Investment, Majid al-Qassabi, Chairman of the Saudi Standards, Metrology and Quality Organization, affirmed the importance of the Saudi Building Code as one of the most important pillars in supporting the national economy and enhancing citizens' safety measures.

Speaking during the first introductory workshop on "Saudi Building Code", the minister urged all members of the technical teams in the National Committee of Building Code to work hard to complete the basic requirements, ahead of the phase of obligatory compliance with the code.

The workshop was held on Saturday with the participation of members and representatives of technical teams and a number of specialists and interested parties.

Qasabi expressed his confidence that the Saudi Building Code represents a qualitative addition to the country and the citizen, including its technical requirements and operational and legal requirements that will achieve more safety rates in the construction sector of the Kingdom.

The Minister thanked all the representatives of the government bodies participating in the workshop wishing their work success, with its positive impact on the sustainability of buildings and public safety.

Meanwhile, Chairman of the National Committee of the Saudi Building Code Saad al-Qasabi, pointed out that the issuance of Royal Decree No. (M / 43) dated 26/4/1438 AH requires the application of the code on all construction and building sectors.

Saudi Building Code is the reference code for the GCC Building Code, as agreed by all Gulf Cooperation Council (GCC) member states.

Saad al-Qasabi revealed that the National Committee of Building Code is working diligently ahead of the implementation stage through integrated regulations through the preparation of the implementing regulations for the code system and preparation of the classification list of violations.

The National Committee is also working to address gaps in the current national system of building code to reach an integrated institutional framework which ensures efficiency in the implementation of the code and updating it through an integrated focus of corporate governance and strategy.

The first workshop included an introduction of the work of the National Committee of Building Code, and draft of the executive regulations and the classification of violations.

The workshop also included the presentation of 11 subcommittees involved in the preparation, review and development of the code, with the participation of over 14 governmental agencies, including the Ministry of Interior, Ministry of Transport, Ministry of Energy, Industry and Mineral Resources, Ministry of Trade and Investment, Ministry of Environment, Water and Agriculture, King Abdulaziz City for Science and Technology, Saudi Standards, Metrology, and Quality Organization, Royal Commission for Jubail and Yanbu, Saudi Council for Engineers, Saudi Geological Survey and Saudi Aramco.

The National Committee of Building Code is currently finalizing the code update and preparing for the second workshop where the technical outputs of the working teams will be introduced to specialists of public and private sectors in various fields. The third introductory workshop will be for all interested parties and it is expected to be finalized over the next few months.



King Salman International Airport Kicks of Construction of 3rd Runway to Boost Operational Efficiency

 The airport will incorporate the King Khalid terminals - SPA
The airport will incorporate the King Khalid terminals - SPA
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King Salman International Airport Kicks of Construction of 3rd Runway to Boost Operational Efficiency

 The airport will incorporate the King Khalid terminals - SPA
The airport will incorporate the King Khalid terminals - SPA

King Salman International Airport (KSIA), a PIF company, has commenced construction works on the third runway, marking a strategic step that reflects continued progress in airfield development and enhances the airport’s operational readiness to support long-term growth in air traffic demand.

The third runway forms a key component of the KSIA Master Plan and represents a major milestone in the airport’s expansion journey.
According to a press release issued by the KSIA, the project is being delivered in collaboration with FCC Construcción SA and Al-Mabani General Contractors Company and has been designed in alignment with Riyadh’s prevailing wind patterns to ensure safe and efficient aircraft operations under all operating conditions, SPA reported.

The current operational capacity stands at 65 aircraft movements per hour. With the implementation of operational enhancements and the introduction of the third runway, capacity is expected to increase to 85 aircraft movements per hour, contributing to improved operational efficiency and supporting long-term growth.

The third runway incorporates multiple access taxiways to ensure smooth aircraft flow and will span 4,200 meters in length.

Acting CEO of KSIA Marco Mejia said: “Launching construction of the third runway marks a pivotal step in delivering the KSIA Master Plan and reflects our commitment to developing world-class infrastructure capable of supporting future growth, enhancing operational efficiency, and expanding long-haul connectivity without constraints.”

King Salman International Airport is a strategic and transformative national project that reflects the Kingdom’s ambition to position Riyadh as a global capital and a leading aviation hub. The project was announced by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Prime Minister, Chairman of the Council of Economic and Development Affairs and Chairman of the Board of Directors of King Salman International Airport, underscoring its national significance and its role in advancing the objectives of Saudi Vision 2030.

Located on the existing site of King Khalid International Airport in Riyadh, the airport will incorporate the King Khalid terminals, in addition to three new terminals, residential and leisure assets, six runways, and logistics facilities. Spanning 57 square kilometers, it is designed to accommodate 100 million passengers annually and handle over two million tons of cargo by 2030.

This phase of construction contributes to strengthening King Salman International Airport’s international flight network across multiple global destinations, reinforcing Riyadh’s position as an internationally connected aviation gateway and supporting national development objectives within the air transport sector.


Mawani, Arabian Chemical Terminals Sign Land Lease for Jubail Port Storage Tanks

Mawani, Arabian Chemical Terminals Sign Land Lease for Jubail Port Storage Tanks
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Mawani, Arabian Chemical Terminals Sign Land Lease for Jubail Port Storage Tanks

Mawani, Arabian Chemical Terminals Sign Land Lease for Jubail Port Storage Tanks

The Saudi Ports Authority (Mawani) signed a contract with Arabian Chemical Terminals Ltd. to establish storage tanks for chemical and petrochemical materials at Jubail Commercial Port, with an investment exceeding SAR500 million on an area of 49,000 square meters.

The project will contribute to enhancing operational efficiency and increasing handling capacity in line with the objectives of the National Transport and Logistics Strategy to consolidate the Kingdom’s position as a global logistics hub, SPA reported.

This step is part of Mawani’s efforts to strengthen the role of the private sector in supporting the gross domestic product and to reinforce the position of Jubail Commercial Port as a driver of commercial activity. The project’s storage capacity will reach 70,000 cubic tons, boosting the competitiveness of the Kingdom’s ports at both regional and international levels.

The project aims to develop and expand storage capacity and the export of chemical and petrochemical materials in accordance with the highest international standards while supporting supply chains. It includes the establishment and development of specialized facilities for storing and exporting chemical and petrochemical products, as well as the provision of storage and distribution services for local and international import and export of chemicals in line with global quality and safety standards.

The project will contribute to supporting national supply chains, boosting the Kingdom’s chemical logistics capabilities, and raising operational efficiency and capacity, thereby improving customer competitiveness. It also supports the achievement of Saudi Vision 2030 objectives by promoting the development of infrastructure to advance the energy, industry, and supply chain sectors in the Kingdom.


Oil Prices Stable as Investors Seek Clarity on Russia-Ukraine Talks

A view shows the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel
A view shows the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel
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Oil Prices Stable as Investors Seek Clarity on Russia-Ukraine Talks

A view shows the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel
A view shows the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel

Oil prices were little changed on Tuesday as investors took stock of ​dented hopes of a Russia-Ukraine peace deal and rising geopolitical tensions in the Middle East around Yemen, Reuters reported.

Brent crude futures for February delivery, which expire on Tuesday, were up 15 cents at $62.09 a barrel as of 0918 GMT. The more active March contract was at $61.61, up 12 cents.

US West Texas Intermediate ‌crude gained 14 ‌cents to $58.22.

The Brent and ‌WTI ⁠benchmarks ​settled ‌more than 2% higher in the previous session as Saudi Arabia launched airstrikes against Yemen and after Moscow accused Kyiv of targeting Putin's residence, denting hopes of a peace deal.

Kyiv dismissed Moscow's accusation as baseless and designed to undermine peace negotiations. After a phone call ⁠with Putin, US President Donald Trump said he was angered by details ‌of the alleged attack.

"I think the ‍markets are sensing that ‍a deal is going to be very hard ‍to come by," said Marex analyst Ed Meir.

Traders also watched other Middle East developments after Trump said the United States could support another major strike on Iran were Tehran to resume rebuilding its ballistic missile or nuclear weapons programs.

Despite renewed fears of potential supply disruptions, perceptions of an oversupplied global market remain and could cap prices, analysts say.

Marex's Meir said prices would trend downwards in the first quarter of 2026 due to ‌a "growing oil glut".