Saudi home completions rose 4 percent to reach almost 345,000 last year

Saudi Arabia is investing heavily in new housing across the Kingdom to meet huge pent up demand. (Shutterstock)
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Updated 13 April 2021
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Saudi home completions rose 4 percent to reach almost 345,000 last year

  • Construction started on 350,580 housing units in 2020

RIYADH: Saudi housing completions rose 4.3 percent last year to 344,553 units, SPA reported.
Construction started on 350,580 housing units in 2020, reflecting an annual growth rate of 9 percent.
The housing support program also helped about 222,000 families, posting a record increase in 2020 the news agency said, citing a report from the Housing Data and Observatory Center (HDOC).
Saudi Arabia is investing heavily in new housing across the Kingdom to meet huge pent up demand while at the same time a fledgling mortgage market is helping thousands of Saudi homebuyers tap finance.
New housing finance provided to Saudi families increased to 295,590 contracts during 2020, including 87,085 contracts in the fourth quarter, with a value exceeding SR44 billion ($11.72 billion).
Rents fells by 2.4 percent last year, it said.

 


DP World announces new leadership appointments

Updated 13 February 2026
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DP World announces new leadership appointments

DUBAI: DP World announced the appointment of Essa Kazim as Chairman of its Board of Directors and the appointment of Yuvraj Narayan as Group Chief Executive Officer.

Essa Kazim currently serves as Governor of the Dubai International Financial Centre and Chairman of Borse Dubai. He brings extensive experience in financial and economic affairs, having previously held senior leadership positions in several national institutions.

Yuvraj Narayan has extensive professional experience in financial management, corporate finance, supply chains, and global trade. Since joining DP World in 2004, he has led a number of strategic and transformational initiatives that supported the company’s expansion across international markets and strengthened its role as an integrated global provider of end-to-end supply chain solutions.

Narayan has served as Group Chief Financial Officer since 2005, contributing to the company’s financial resilience and operational efficiency.

DP World affirmed that the new appointments support its strategy for sustainable growth and reinforce its role in strengthening global supply chains and supporting Dubai’s position as a leading hub for trade and logistics.