Addas: Work Underway for Regulations Allowing Foreign Investment in Makkah

Work is underway for developing the transportation system in Makkah and the holy sites - CEO of Saudi Arabia’s Royal Commission for Makkah City and Holy Sites Abdulrahman bin Farouk Addas (PHOTO CREDIT: Ghazi Mahdi)
Work is underway for developing the transportation system in Makkah and the holy sites - CEO of Saudi Arabia’s Royal Commission for Makkah City and Holy Sites Abdulrahman bin Farouk Addas (PHOTO CREDIT: Ghazi Mahdi)
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Addas: Work Underway for Regulations Allowing Foreign Investment in Makkah

Work is underway for developing the transportation system in Makkah and the holy sites - CEO of Saudi Arabia’s Royal Commission for Makkah City and Holy Sites Abdulrahman bin Farouk Addas (PHOTO CREDIT: Ghazi Mahdi)
Work is underway for developing the transportation system in Makkah and the holy sites - CEO of Saudi Arabia’s Royal Commission for Makkah City and Holy Sites Abdulrahman bin Farouk Addas (PHOTO CREDIT: Ghazi Mahdi)

CEO of Saudi Arabia’s Royal Commission for Makkah City and Holy Sites Abdulrahman bin Farouk Addas revealed that the authority has entered the phase of expediting achievements and setting up priorities through speeding up transport sector projects, addressing the situation of slums, providing support to residents, as well as taking care of historical sites, improving public services, and increasing the capacity to receive visitors.

According to Addas, measures carried out by the Commission align with the national plan for transformation, Kingdom Vision 2030.

Speaking to Asharq Al-Awsat, Addas pointed to work that is underway with organizations to allow non-Saudi Muslims to invest in one of Islam’s holiest cities, Makkah.

He noted that the Commission’s current strategy, plans and programs have pillars that are inspired by verses from the Quran.

Addas clarified that the Commission is working to create an environment that enriches the experience of visitors while preserving the city’s social, economic, and cultural diversity. He explained that success in the Commission’s current goal would generate multiple and renewable opportunities for leadership and partnerships.

This will be made possible by Commission’s investment center.

“The center will be a unified destination for forming and supporting partnerships in the projects supervised by the authority by presenting opportunities, clear and transparent regulations and mechanisms,” Addas told Asharq Al-Awsat.

“It reduces the impact of the multiplicity of authorities and references so that there is one supervisory and possible authority that facilitates and stimulates the work of the authority’s partners,” he added.

Transport Sector

Addas referred to the regulation and governance of all that is related to the transport sector in Makkah.

One of the priorities of the Commission’s strategic plan and the “Mobility and Transport Infrastructure” program is to activate an integrated system to manage mobility services.

The system will raise the city’s capacity to receive more pilgrims and help achieve financial and environmental sustainability based on a highly efficient infrastructure that encourages the use of public transportation while maintaining the highest of safety standards.

Therefore, the authority launched “Makkah Transport” to assume the role of supervising all the work and activities of the transport sector in the holy city of Makkah and the holy sites.

The center works to unify the planning of various transportation projects to meet the aspirations of Kingdom Vision 2030 while raising the quality of the sector to secure the finest transportation services for residents and visitors of the holy city.

On February 15, the Commission launched the trial phase of the public transport project under the supervision and management Makkah Transport. Upon completion, the project covers 12 traffic lanes serving the main areas of Makkah.

“The trial operation will start with frequency transportation by the Haramain high-speed railway in the Ar Rusayfah area to the Grand Mosque, back and forth,” revealed Addas.

Slums

“The Commission, since its first day, has worked to mobilize a strategy for a comprehensive solution to slums that covers architecture, social , economic and security aspects,” said Addas, noting that the issue of slums has its own history.

Regarding the social aspect, Addas said that the authority has begun working with responsible authorities to correct the conditions of some residents of these slums, especially those belonging to communities that have sought refuge in the country in earlier times.

The Commission seeks to ensure that the residents of slums are actively integrated into the city.

As for the economic side, Addas confirmed that the authority is working with government agencies to provide job support to citizens living in slums. This support will be given through the Ministry of Human Resources and with coordination with the private sector.

“There is also cooperation, on the security side, with the competent authorities to ensure that the means are provided to prevent the re-emergence of slums in other areas in Makkah, and if they return, their removal will be immediate,” added Addas.

Motivating Investors

Addas said that partnerships with investors at home and abroad are among the priorities of the Commission’s strategy because they affect and intersect with all other sectors that the authority is working to develop, such as the land and real estate sector, the transportation and transport infrastructure sector, and the utilities and environment sector.

According to Addas, the Commission launched the Investment and Partnerships Program, which adopts a unified strategy aimed at attracting and stimulating capital, and building partnerships with the private sector and the non-profit sector to participate in development by creating promising investment opportunities.

“The authority is working to establish an investment center,” noted Addas, adding that the center would serve as the authority’s executive arm and help develop the city’s investment sector.

Moreover, the center would work to stimulate investment through regulation and empowerment. It would also help in concluding agreements and partnerships related to projects supervised by the Commission.

Addas explained that investors need opportunities.

“We have opportunities and we are working on them,” he affirmed, adding that the Commission has launched some opportunities through its Kidana Development Company.

Kidana Development Company

Fully owned by the Commission, Kidana was founded to serve as the executive in laying out a comprehensive project for developing Makkah’s holy sites.

Kidana is aiming for long-term sustainability when reconstructing and renovating the holy sites. It seeks to increase the number of pilgrims that the holy sites can hold, in line with the country’s Vision 2030 reform plan, and allowing more pilgrims to perform Hajj and Umrah each year.

According to Addas, Kidana is supervising several quality projects worth more than one billion riyals ($266 million). Most of these projects will be completed by the start of this year’s Hajj season.

Foreign Investment

Regarding foreign investment, Addas confirmed that foreign investors have always been very interested in Makkah and Madinah. In the past, there were regulations that limited progress in this aspect, but things are starting to change.

Addas pointed out that work is underway to put in place certain regulations that allow non-Saudi Muslim investors to invest in Makkah, especially in the field of real estate.

SMEs

Addas pointed out that one of the most prominent difficulties facing SMEs in Makkah is the seasonal nature of its markets, which is why the Commission is working to reduce the impact of “seasonality” on the work and growth of institutions and Hajj and Umrah services.

Arrangements are being made for opening the way for tourism from all over the world. This will encourage Muslims to take advantage of the new regulations and help create a permanent market in Makkah, even outside the main Hajj seasons.

Having economic movement throughout the year will reduce the impact on SMEs based in Makkah.

Commission Cadres

Addas notes that one of the most pressing challenges facing any newly formed agency, especially those involved in transformation, is finding passionate and ambitious cadres.

“The Commission has embraced 200 innovators so far since its establishment in June 2018,” noted Addas, adding that they are carrying out their duties to the fullest in a work environment that helps the spirit of creativity, innovation, coordination and alignment with the Commission’s partners wherever they are.



TotalEnergies, Iraq Agree to Start Talks on Energy Projects

TotalEnergies, Iraq Agree to Start Talks on Energy Projects
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TotalEnergies, Iraq Agree to Start Talks on Energy Projects

TotalEnergies, Iraq Agree to Start Talks on Energy Projects

TotalEnergies and the Iraqi government have agreed to start discussions on energy projects in the country, while France and Iraq have also agreed on a roadmap regarding future acquisitions ‌of weapons ‌from French companies ‌by the ⁠Iraqi military, according ⁠to a joint French-Iraqi statement on Monday.

TotalEnergies' projects would involve large-scale investments and would be aimed at boosting ⁠Iraqi oil production while contributing ‌to ‌improving energy sovereignty and ‌the country's energy transition, the ‌statement said.

France and Iraq "applauded the signature of a declaration of intent regarding autonomous ‌air defense systems between the French company Harmattan ⁠AI ⁠and the Iraqi defense minister," the statement said.

It also said that Iraq's prime minister had announced his intent to encourage talks involving other French firms and the defense minister regarding various weaponry systems.


Saudi Arabia Outlines 3 Pathways to Explore Uranium Resources Locally

Saudi Minister of Energy, Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz speaks at the IAEA conference in Vienna on Monday. (SPA)
Saudi Minister of Energy, Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz speaks at the IAEA conference in Vienna on Monday. (SPA)
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Saudi Arabia Outlines 3 Pathways to Explore Uranium Resources Locally

Saudi Minister of Energy, Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz speaks at the IAEA conference in Vienna on Monday. (SPA)
Saudi Minister of Energy, Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz speaks at the IAEA conference in Vienna on Monday. (SPA)

Saudi Arabia is moving forward with integrating nuclear energy into its national mix while developing its domestic uranium resources and building an integrated mineral value chain.

This chain spans from exploration and mining to processing, separation, refining, and the production of yellowcake, in an approach aimed at maximizing the economic value of its natural resources and boosting security of supply.

Speaking at the 70th General Conference of the International Atomic Energy Agency (IAEA) in Vienna, Saudi Minister of Energy, Minister of Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz said: “Over the decades, the Kingdom has established its position as a reliable energy supplier and an active partner in the stability of global energy markets.”

“Along with this role, the Kingdom is moving forward with developing a national energy mix from different energy sources that is more diverse and sustainable, based on integrated economic and development considerations,” he added.

“This includes introducing nuclear energy into this mix, within a well-established regulatory framework and in accordance with the Kingdom's international obligations,” he stressed.

“Our meeting today comes at a time when the world is witnessing rapid growth in energy demand, driven by economic, technological and industrial expansion. Amid these developments, diversifying energy sources and enhancing their reliability and sustainability have become essential to supporting economic growth and ensuring security of supply,” he said.

Prince Abdulaziz bin Salman said that the National Atomic Energy Project is advancing a program to explore uranium resources and assess opportunities for their economic utilization through several interconnected tracks.

The first involves recovering uranium associated with phosphoric acid produced in phosphate fertilizer operations in the north of the Kingdom, taking into account Saudi Arabia's position as the world's second-largest exporter of phosphate fertilizers.

He noted that pilot work carried out in cooperation with the French company Orano has yielded promising economic indicators for uranium recovery from these operations. This cooperation culminated in the signing of a memorandum of understanding during the visit of Prince Mohammed bin Salman, Crown Prince and Prime Minister, to France in August.

“Exploration and geological studies at the Jabal Sayid project in Madinah Region have identified estimated resources of around 114 million tons of ore containing high concentrations of rare earth elements, particularly heavy rare earth elements, alongside promising concentrations of uranium,” revealed Prince Abdulaziz bin Salman.

“This places the project among the most significant rare earth resource sites currently under development globally. This direction gained further momentum during the visit of the Crown Prince to the United States in November 2025, when the two countries signed a framework for cooperation on critical minerals and securing supply chains,” he went on to say.

This was followed by a partnership between the Saudi Arabian Mining Company, Ma'aden, and the American company MP Materials to develop capabilities for the processing and separation of rare earth elements and the production of associated uranium.

Prince Abdulaziz bin Salman stated that the Kingdom is continuing its efforts, through the Sedimentary Cover Survey Initiative, to explore additional uranium ores from conventional sources.

He added that these resources take on particular significance when viewed in the context of the Kingdom's broader advantages. The Kingdom combines promising mineral resources, competitive energy supplies, advanced infrastructure, growing industrial and investment capabilities, a strategic location, and effective international partnerships.

The Kingdom's ambition does not stop at producing raw materials or exporting concentrates, rather it extends to building an integrated economic and industrial value chain for all these minerals, he said.

This begins with exploration and mining and progressing through processing, separation and refining; the production of rare earth oxides; the recovery and purification of associated uranium; and the production of yellowcake and the development of its value chain, subject to economic feasibility, in accordance with the highest standards of transparency and within the framework of the Kingdom's international obligations, he noted.

Prince Abdulaziz bin Salman stressed that the Kingdom's exercise of its choices regarding the peaceful uses of nuclear energy goes hand in hand with the highest levels of responsibility and transparency.

This is consistent with the inherent right of States Parties to the Treaty on the Non-Proliferation of Nuclear Weapons to develop and use nuclear energy for peaceful purposes without discrimination.

He noted that, in exercising these rights, the Kingdom follows a clear approach founded on transparency, openness and international cooperation. It does not seek to develop its peaceful nuclear program in isolation from the international community, nor through activities conducted in secrecy or facilities concealed deep within mountains.

Rather, the Kingdom is developing its capabilities through trusted international partnerships that strengthen confidence and support the nuclear non-proliferation ecosystem, said the minister.

The Kingdom continues to strengthen its national framework and regulatory ecosystems governing nuclear energy and its applications, based on its conviction that confidence rests on strong national institutions, well-established regulatory frameworks and national capabilities said Prince Abdulaziz bin Salman.

The Kingdom also continues to boost its preparedness for nuclear and radiological emergencies, reinforce a culture of nuclear safety and security, and strengthen technical cooperation with the agency and international partners, he stressed.

He reaffirmed the Kingdom's full support for the IAEA and its commitment to continuing constructive cooperation with the agency and its member states in a manner that strengthens international confidence and contributes to a more secure, sustainable and prosperous future for all.

Prince Abdulaziz bin Salman later met IAEA Director General Rafael Mariano Grossi on the sidelines of the conference. 

They discussed cooperation between Saudi Arabia and the IAEA, as well as other issues of mutual interest. 


Chevron Eyes Argentina, Mediterranean for Global LNG Growth, Deal with India

Freeman Shaheen, the president of Chevron Global Gas, participates in a discussion at the Gastech conference in Houston, Texas, US, September 18, 2024. REUTERS/Callaghan O'Hare
Freeman Shaheen, the president of Chevron Global Gas, participates in a discussion at the Gastech conference in Houston, Texas, US, September 18, 2024. REUTERS/Callaghan O'Hare
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Chevron Eyes Argentina, Mediterranean for Global LNG Growth, Deal with India

Freeman Shaheen, the president of Chevron Global Gas, participates in a discussion at the Gastech conference in Houston, Texas, US, September 18, 2024. REUTERS/Callaghan O'Hare
Freeman Shaheen, the president of Chevron Global Gas, participates in a discussion at the Gastech conference in Houston, Texas, US, September 18, 2024. REUTERS/Callaghan O'Hare

Chevron is looking to expand its global gas portfolio from Argentina to the Mediterranean to meet growing demand from buyers concerned about energy security due to the crisis in the Middle East, President of Global Gas Freeman Shaheen said.

Global gas markets have experienced two major disruptions in the past four years as the Ukraine war in 2022 and the Iran conflict this year cut off supplies from top producers Russia and Qatar and drove liquefied natural gas prices higher.

"What we're seeing from this crisis is that it just reinforces the need for diversity — diversity of supply and diversity of different contracting structures," Shaheen said, adding, "and not leaving yourselves susceptible to a spot market that's not really as liquid ⁠as crude and ⁠products."

Chevron will have about 20 million metric tons per annum of LNG supply capacity comprising 16 million tons of net gas production from its projects and 4 million tons contracted from the US Gulf Coast that commenced in February this year and will ramp up over the next few years in line with agreements.

"We're looking to continue to expand that portfolio," Shaheen said in an interview on the sidelines of the Gastech conference in Bangkok.

"There's great prospects out of ⁠Argentina with the development of crude and gas in that marketplace. The East Mediterranean is a very exciting area for us as well."

He also sees further opportunities in Australia and Africa, provided the projects offer the right capital, fiscal and regulatory terms, adding that the US-Iran war has reinforced the need for a diversified gas portfolio.

Shaheen did not elaborate on where in Africa, Australia or the eastern Mediterranean the company might expand. In June, Chevron won approval to become operator and lead gas exploration in an offshore block off Greece, expanding its presence there.

However, these opportunities have to be weighed against Venezuela, where Chevron and its partners would invest more than $7 billion to more than double oil output by 2031.

"I've been hearing that ⁠Venezuela has a lot ⁠of capital that's going to have to go that way coming up," Shaheen told Reuters.

"Everything is going to get analyzed in our project queue and it gets ranked."

Chevron already has significant operations in Australia, running the country's largest LNG project, Gorgon, and the Wheatstone project. A large portion of its Australian supply goes to Japan.

"Japan continues to be our home base, and we have nice structural opportunities into Singapore," Shaheen said, adding that China and Korea remain attractive markets.

In Singapore, Chevron inked a deal in 2024 to supply Sembcorp Industries up to 0.6 million tons per annum of LNG from 2028.

LNG buyers are also changing the way they secure supply, he said, with state-backed importers increasingly willing to sign contracts with portfolio suppliers rather than relying on government-to-government arrangements.

"I'd love to have a deal in India. It's just they're very, very headline-price driven," Shaheen said. "I think India is still evolving. There's going to be great opportunities over time."