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Real Estate Fund Plans to Construct 100+ Housing Units in Riyadh

RIYADH: In a bid to contribute to the housing supply and boost the real estate development efforts in Saudi Arabia, Arjan Architects and Bloominvest have joined forces to build more than 100 housing units in northern Riyadh.   The two parties established a joint real estate investment fund called Arjan Al-Maghamis which aims to develop a land area exceeding 30,000 sq. meters in the Kingdom’s capital, Al-Ekhbariya reported.  

Allies of Kyiv pledge to hold Russia accountable for invading Ukraine.

LONDON: Western allies on Wednesday promised to make Russia pay for invading Ukraine as governments and private investors met to fund the country’s reconstruction from the ravages of war. The World Bank has put an estimate of $14 billion on Ukraine’s immediate needs to repair the damage caused by the bitter fighting. But a recent study by the World Bank, the UN, the European Union and the Ukrainian government said the wider recovery of the economy would cost $411 billion.

Al-Falih: Saudi Arabia Plans More Airlines to Meet Demand

RIYADH: Within months of launching Riyadh Air, Saudi Arabia is exploring the possibility of adding more airlines to its growing aviation sector, revealed a top minister.  In an interview with Al-Arabiya on the sidelines of the ongoing Paris Airshow, Saudi Minister of Investment Khalid Al-Falih said that the Kingdom’s aviation sector is witnessing significant growth, necessitating the country to look at the possibility of introducing more airlines to meet the rising demand.  

“Ukrainian Kickboxing Champ Maksym Bordus Dies in War”

KYIV: Ukrainian kickboxing champion Maksym Bordus has been killed fighting Russian forces, a website that lists athletes killed in the war said on Tuesday. Bordus was killed on June 11 in “fierce fighting against Russian invaders,” according to “Sport Angels,” a Ukrainian website set up with the assistance of the Sports Committee that brings together NGOs and federations from non-Olympic sports. “Every day he brought Ukraine’s victory closer with a weapon in his hands, but he himself will not see it,” it wrote under a photograph of Bordus posing with several medals.

“French Treasury Official Urges Saudi Arabia to Increase Collaboration for 2030 Goals”

RIYADH: Saudi Arabia and France need to intensify joint work and develop new projects as both countries have a lot of scope for synergy and collaboration under their 2030 investment goals, said a top official of the French Treasury.  Speaking at the France-Saudi Investment Forum, Denis Le Fers, head of bilateral trade relations at the French Treasury, explained that partnership has a central role to play in France 2030. 

“AI’s Impact on Enterprise Software Market: $14tn by 2030”

RIYADH: Generative artificial intelligence is set to expand the global enterprise software market from $1 trillion currently to $14 trillion by 2030, said Saudi Arabia’s minister of communications and information technology.  Speaking at the France-Saudi Investment Forum in Paris on Monday, Abdullah Al-Swaha said the massive growth in generative AI would present a considerable opportunity for collaboration between Saudi Arabia and France. 

flynas signs $3.7bn deal with Airbus for 30 planes

RIYADH: Saudi Arabia’s budget airline flynas has signed a $3.73 billion agreement with Airbus to buy 30 aircraft, Saudi state TV reported on Monday. The deal was signed at the Paris Air Show by Bandar Al-Mohanna, flynas CEO and managing director, and Christian Scherer, Airbus chief commercial officer and head of international, in the presence of Saudi Minister of Transport and Logistics Saleh Al-Jasser, Abdulaziz Al-Duailej, president of General Authority of Civil Aviation, and Ayed Aljeaid, chairman of the board of NAS Holding.

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