Riyadh’s green coverage set to reach 9% with planting of 7m trees

Laurent Germain, CEO of Egis Group. 
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Updated 26 October 2023
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Riyadh’s green coverage set to reach 9% with planting of 7m trees

RIYADH: The Green Riyadh initiative is poised to significantly increase the city’s forestation coverage to 9 percent, with the planting of 7 million trees, according to Laurent Germain, CEO of Egis Group. 

He made these remarks during a panel discussion at the 7th Future Investment Initiative forum, where experts in sustainable development deliberated on Saudi Arabia’s ambitious urban forestation project. 

The CEO of the global consulting, construction, engineering and operating firm highlighted the importance of this venture, stating: “One of the most iconic projects we are delivering in Saudi Arabia is the ‘Green Riyadh’ project.”

Germain explained that the project aims raise the green coverage to 9 percent, a significant increase from the 1 percent coverage in 2020.

Janus Rostock, vice president of AECOM Middle East, highlighted the city’s commitment to providing green spaces for its residents.  

He noted: “What's interesting about Riyadh is that today, each person in the population has 1.7 sq. meters of green open space out there; that number is going to increase to 28 square meters per person.” 

The discussion also centered on the importance of adapting to changing climate patterns.  

Germain stressed the need to consider recent climate data when planning for the future.  

He emphasized: “Resilience is very high on the agenda because the climate phenomena that we are experiencing have nothing to do with what we experienced a decade ago, so in the way we plan, we need to take into account the climate data not of 10 years ago but the data of the phenomena that will happen.”  

Additionally, Rostock highlighted the significance of creating a compelling narrative, stating: “The creation of a strong narrative, which gives a clear vision and identity for the project, is really important.” 


PIF-backed AviLease achieves revenue of $664m and 19% growth in 2025

Updated 27 February 2026
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PIF-backed AviLease achieves revenue of $664m and 19% growth in 2025

RIYADH: Saudi Arabia’s Public Investment Fund-backed AviLease achieved exceptional performance and sustainable business growth during 2025, supported by the strategic expansion of its global platform.

According to its financial results for 2025, AviLease recorded total revenues of $664 million, an annual increase of 19 percent, driven by disciplined growth in its asset portfolio and strong performance in aircraft remarketing amid sustained global demand for modern, fuel-efficient aircraft, the Saudi Press Agency reported.

Profit before tax doubled compared to the previous year, reaching $122 million. The year witnessed an expansion in AviLease’s portfolio, reaching 202 owned and managed aircraft, leased to over 50 airline companies in more than 30 countries. 

The total value of the company’s assets stabilized at $9.3 billion. AviLease maintained a 100 percent fleet utilization rate, reflecting the resilience of its business model, the efficiency of its asset management, and the strength of its strategic relationships with airlines around the world.

AviLease concluded purchase agreements for aircraft from Airbus, including the A320neo family and A350F, and Boeing 737 aircraft, aiming to enhance its future asset portfolio with modern, fuel-efficient aircraft. This step will contribute to supporting future growth and meeting increasing customer demand for the latest aircraft, aligning with the Kingdom’s ambitions to become a leading global aviation hub.

AviLease strengthened its prestigious credit standing by obtaining a strong Baa2 credit ratings from Moody’s and BBB from Fitch, reflecting its financial solidity, managerial discipline, and efficiency in managing leverage. The company also successfully issued senior unsecured bonds worth $850 million last November under Regulation 144A/RegS. This issuance contributed to diversifying its funding sources and enhancing its financial flexibility.

Commenting on the results, AviLease CEO Edward O’Byrne said: “This exceptional performance reflects the quality of the company’s investment portfolio, the strength of its partnerships with airlines, and its strategic focus on responsibly deploying capital into highly sought-after, efficient, modern aircraft assets.”

He added: “As aviation markets continue to grow, AviLease is strategically positioned to continue its expansion plans and deliver sustainable long-term value for shareholders, contributing to the Kingdom’s ambitions.”

Throughout 2025, AviLease continued to play a pivotal role in the Kingdom’s growing aviation sector and contributed directly to the launch and scaling of the new national carrier, Riyadh Air, by completing a sale and leaseback transaction for a Boeing 787-9 aircraft, which thereby became the first aircraft to join the airline’s fleet.

AviLease also established a strategic partnership with Hassana Investment Co. This partnership aims to provide an opportunity for local and international investors to enter the aircraft financing asset class and benefit from AviLease’s technical expertise and operational capabilities to support partnership growth and enhance performance. 

Hassana Investment Co. has agreed to acquire an initial portfolio of 10 modern aircraft from AviLease.