Qunfudah Airport Inaugural Cornerstone Signals Project Construction

Governor Prince Khalid Al-Faisal laying Qunfugah airport cornerstone | SPA
Governor Prince Khalid Al-Faisal laying Qunfugah airport cornerstone | SPA
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Qunfudah Airport Inaugural Cornerstone Signals Project Construction

Governor Prince Khalid Al-Faisal laying Qunfugah airport cornerstone | SPA
Governor Prince Khalid Al-Faisal laying Qunfugah airport cornerstone | SPA

Al Qunfudhah city, located off the Red city, will be home to Saudi Arabia’s future 28th airport with Makkah Governor Prince Khalid Al-Faisal on Wednesday laying the project’s foundation stone.

The project reflects a government strategy for expanding the capacity for air traffic in the Makkah region. Makkah Governor Faisal explained that the facility was proposed some 10 years ago, and was immediately referred for research which looked into about 14 sites before choosing the final spot north of Al Qunfudhah city.

General Authority for Civil Aviation (GACA) chairman Abdulhakeem bin Mohammed Al-Tamimi, for his part, said the facility would serve the people of Qunfudah and hundreds of nearby villages, while also providing jobs and investment opportunities.

“It is worth noting that the unified model of airports comes as part of the authority’s ongoing endeavor to develop and expand existing airports and to develop new airports in all regions of the Kingdom as a step towards reviving cities and supporting population growth,” the Saudi state news agency SPA reported.

When completed, the terminal will be able to handle five flights per hour and roughly 500,000 passengers a year.

Spanning over an area estimated at 24 million square meters, with a 20,340 square meters for a passenger terminal featuring two gates with connection bridges and a first class lounge among other commercial facilities, the project is set to be completed in two years.

The airport is expected to serve seven provinces and 50 administrative centers related to three coastal and rural areas: Makkah, Al-Baha, and Asir regions.



Saudi Arabia Concludes Third IMFC Deputies Meeting

The Kingdom's chairmanship of the IMFC is a testament to its strong commitment to promoting multilateralism and reflects its leading role in supporting regional and global economic growth. - SPA
The Kingdom's chairmanship of the IMFC is a testament to its strong commitment to promoting multilateralism and reflects its leading role in supporting regional and global economic growth. - SPA
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Saudi Arabia Concludes Third IMFC Deputies Meeting

The Kingdom's chairmanship of the IMFC is a testament to its strong commitment to promoting multilateralism and reflects its leading role in supporting regional and global economic growth. - SPA
The Kingdom's chairmanship of the IMFC is a testament to its strong commitment to promoting multilateralism and reflects its leading role in supporting regional and global economic growth. - SPA

The Kingdom of Saudi Arabia concluded the third deputies meeting for the International Monetary Fund's (IMF) International Monetary and Financial Committee (IMFC), which was held under the Saudi chairmanship in Diriyah on April 6-7, and co-organized by the Ministry of Finance and the IMF.
During his opening speech, Minister of Finance Mohammed Aljadaan praised the efforts of the IMF's leadership and the members of the IMFC in guiding the IMF during challenging times. He also emphasized the importance of collaboration to ensure global financial stability and strong, inclusive economic growth. "The IMF has shown resilience by adapting to the ever-changing global landscape," Minister Aljadaan said.
In her opening speech, Managing Director of the International Monetary Fund Dr. Kristalina Georgieva expressed her gratitude for Saudi Arabia's ongoing and robust support for the IMF and the strong leadership of the IMFC, SPA reported.
"Amid significant global policy changes, the IMF's mission to foster macroeconomic and financial stability remains just as essential as it was 80 years ago. Our 191 member countries can rely on the IMF as a trusted advisor," she said.
The IMFC deputies discussed several topics during the high-level discussion sessions, including ways to enhance global financial stability and inclusive development. They addressed the challenges facing the global economy due to uncertainty in trade flows and its impact on capital in both advanced and developing economies. Emphasis was placed on the effect of high debt levels on investments in infrastructure and jobs and the opportunities and risks arising from technological and demographic shifts.
Additionally, they discussed the IMF's role in supporting countries through financial stability programs and coordinating regional financial arrangements.