RIYADH: Saudi Arabia’s aviation sector’s efficiency and competitiveness are set to receive a boost thanks to the new economic regulations that are likely to be introduced.
The General Authority of Civil Aviation has put forward the draft economic regulations for airports on a survey platform between June 22 and July 20, according to a statement.
The regulations aim to support the sector’s rapid growth, enhance passenger experience and ensure transparency and fairness.
In addition, they stipulate that the Saudi government shall retain ownership of fixed assets such as lands on which the Kingdom’s airports are located.
The authority also indicated that the management of these assets could be granted to private entities through lease contracts, franchise rights or public partnerships.
The regulations added that the GACA would control the fees for nonnavigational and navigational services.
The fees for nonnavigational services include space rentals, airport facilities and airport technologies.
They also include baggage handling, public services — such as electricity, water, internet and air conditioning — and entry fees.
On the other hand, navigational services fees include the cost of using buildings and passenger facilities, landing and take-off fares and expenses for the security of passengers and aircraft.
These also entail bridge boarding charges and bus transport fares at the airport.
Furthermore, the regulations indicated that the airport operator must include detailed information on each consultation stage in the project investment file.
The operator must also share details about the method to predict cost escalation and the project’s expected impact on airport fees over the next five years.
In addition, the operator must submit the expected outcome of airport operations, service levels, user operations and future developments.
Lastly, the report must also factor in the principal risks involved in the comprehensive investment program.
The GACA’s vision is to create a safe and secure aviation environment by following the most rigorous international safety standards and building a modern airport system that offers consistently exceptional services.
GACA proposes draft economic regulations to improve aviation sector’s efficiency
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GACA proposes draft economic regulations to improve aviation sector’s efficiency
The Family Office to host global investment summit in Saudi Arabia
RIYADH: The Family Office, one of the Gulf’s leading wealth management firms, will host its exclusive investment summit, “Investing Is a Sea,” from Jan. 29 to 31 on Shura Island along Saudi Arabia’s Red Sea coast.
The event comes as part of the Kingdom’s broader Vision 2030 initiative, reflecting efforts to position Saudi Arabia as a global hub for investment dialogue and strategic economic development.
The summit is designed to offer participants an immersive environment for exploring global investment trends and assessing emerging opportunities and challenges in a rapidly changing financial landscape.
Discussions will cover key themes including shifts in the global economy, the role of private markets in portfolio management, long-term investment strategies, and the transformative impact of artificial intelligence and advanced technologies on investment decision-making and risk management, according to a press release issued on Sunday.
Abdulmohsin Al-Omran, founder and CEO of The Family Office, will deliver the opening remarks, with keynote addresses from Saudi Energy Minister Prince Abdulaziz bin Salman and Prince Turki Al-Faisal, chairman of the King Faisal Center for Research and Islamic Studies.
The press release said the event reflects the firm’s commitment to institutional discipline, selective investment strategies, and long-term planning that anticipates economic cycles.
The summit will bring together prominent international and regional figures, including former UK Treasury Commercial Secretary Lord Jim O’Neill, Mohamed El-Erian, chairman of Gramercy Fund Management, Abdulrahman Al-Rashed, chairman of the editorial board at Al Arabiya, Lebanese Minister of Economy and Trade Dr. Amer Bisat, economist Nouriel Roubini of NYU Stern School of Business, Naim Yazbeck, president of Microsoft Middle East and Africa, John Pagano, CEO of Red Sea Global, Dr. Anne-Marie Imafidon, MBE, co-founder of Stemettes, SRMG CEO Jomana R. Alrashed and other leaders in finance, technology, and investment.
With offices in Bahrain, Dubai, Riyadh, and Kuwait, and through its Zurich-based sister company Petiole Asset Management AG with a presence in New York and Hong Kong, The Family Office has established a reputation for combining institutional rigor with innovative, long-term investment strategies.
The “Investing Is a Sea” summit underscores Saudi Arabia’s growing role as a global center for financial dialogue and strategic investment, reinforcing the Kingdom’s Vision 2030 objective of fostering economic diversification and sustainable development.
