Saudi Arabia plans road project in Aseer region to elevate infrastructure   

The new project, being planned by the Aseer Development Authority in association with Saudi Arabia’s Public Transport Authority, is expected to connect Greater Abha with Abha, Khamis Mushait and Ahad Rafidah. (Supplied)
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Updated 30 January 2023
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Saudi Arabia plans road project in Aseer region to elevate infrastructure   

RIYADH: In a move to transform Saudi Arabia’s mountainous Aseer region into a global tourist destination, the local authority is planning to launch a new road project that will elevate the infrastructure in and around the region’s capital city Greater Abha.

The Kingdom is improving its road connectivity as part of its strategy to become a tourism and logistics hub, in line with the goals outlined in Vision 2030. 

The new project, being planned by the Aseer Development Authority in association with Saudi Arabia’s Public Transport Authority, is expected to connect Greater Abha with Abha, Khamis Mushait and Ahad Rafidah. 

The announcement regarding the new road project was made during a meeting chaired by the Chairman of the ASDA, Prince Turki bin Talal, at the headquarters of the authority. 

The 321km project, which is expected to launch in 2024, will have 13 routes, 196 stops, 55 buses, 150 bus drivers and 18 operational hours. 

A working group has already been formed comprising members from the ASDA, the Public Transport Authority, and the municipality of the region. 

The working group is expected to carry out a feasibility study by visiting the routes of the road and ensuring that the characteristics of the network are compatible with the roads in Greater Abha city. 

Aseer region’s municipality will implement the infrastructure of the project, and the operations will be carried out in accordance with the regulations and supervision of the Transport Authority and ASDA. 

As Saudi Arabia tries to emerge as a global tourism hub, the Aseer region is also expected to play a crucial role in these efforts. The historic region which runs parallel to the Red Sea aims to become a world-class tourist destination in the Kingdom and abroad by striking a balance between development and conservation. 

In 2021, Saudi Arabia’s crown prince Mohammed bin Salman launched a $13 billion tourism strategy for Aseer that aims to attract more than 10 million visitors from inside and outside the Kingdom by 2030. 

With the new road project, the authorities expect the connectivity in the region to improve substantially, thus allowing more tourists to enjoy the temperate climate in the region. This will also help visitors explore various tourist destinations such as Asir National Park and Abha Dam. 

Meanwhile, on Jan.19, Fahd Al-Rasheed, CEO of the Royal Commission for Riyadh City announced that the operation of the King Abdulaziz Public Transport Project in Riyadh would begin in March 2023. 

This ambitious project in Saudi Arabia’s capital city includes six metro lines, 84 metro stations, 80 bus routes, 2,860 bus stops and 842 buses. 


Closing Bell: Saudi main index slips to close at 10,588 

Updated 14 December 2025
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Closing Bell: Saudi main index slips to close at 10,588 

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, losing 127.15 points, or 1.19 percent, to close at 10,588.83. 

The total trading turnover of the benchmark index was SR2.57 billion ($685 million), as 28 of the stocks advanced and 232 retreated.    

Similarly, the Kingdom’s parallel market Nomu lost 108.53 points, or 0.46 percent, to close at 23,719.13. This comes as 22 of the stocks advanced while 47 retreated.    

The MSCI Tadawul Index lost 17.17 points, or 1.22 percent, to close at 1,393.34.     

The best-performing stock of the day was Sport Clubs Co., whose share price surged 3.69 percent to SR9.00.   

Other top performers included Flynas Co., whose share price rose 2.55 percent to SR72.30, as well as National Industrialization Co., whose share price surged 2.13 percent to SR10.09. 

Consolidated Grunenfelder Saady Holding Co. recorded the most significant drop, falling 6.61 percent to SR8.90. 

Sustained Infrastructure Holding Co. also saw its stock prices fall 5.75 percent to SR30.82. 

CHUBB Arabia Cooperative Insurance Co. also saw its stock prices decline 5.72 percent to SR22.40. 

On the announcements front, Wataniya Insurance Co. said it has received a notice of award for a one-year contract with Saudi National Bank to provide general insurance as well as protection and savings insurance services, in line with agreed terms and conditions. 

According to a Tadawul statement, coverage will begin on Jan. 1, 2026. The contract value exceeds 15 percent of the company’s total revenues, based on its latest audited financial statements for 2024.  

Wataniya Insurance Co. ended the session at SR14.35, up 1.92 percent. 

Fawaz Abdulaziz Alhokair Co., or Cenomi Retail, has announced executing a SR1.5 billion facility agreement structured as a short-term loan with Emirates NBD – Kingdom of Saudi Arabia. A bourse filing revealed that the financing duration is three years with an option to extend for a total of two years. 

Cenomi Retail ended the session at SR20.00, up 0.26 percent. 

First Milling Co. has announced the Board of Directors’ recommendation to amend the firm’s bylaws Article “Company Management” to increase the number of board members from seven to eight. This change reflects the firm’s commitment to broadening the range of expertise and skills on its board, in line with its growth and expansion plans for the next phase. 

The company reiterated its commitment to fulfilling all necessary procedures and obtaining approvals from the relevant authorities. The recommendation will be submitted to the upcoming General Assembly, with the date to be announced in due course. 

First Milling Co. ended the session at SR49.22, down 1.06 percent.