Tue, 21-Oct-2025

Saudi Arabia allocates independent budget to free zones authority

Saudi Arabia

CAIRO: Saudi Arabia has allocated an independent annual budget to the Economic Cities and Zones Authority (ECZA), to transform the kingdom into a global hub for high-value, long-term investments, Arab News reported. The independent budget will allow ECZA to enjoy flexibility and powers that enable it to carry out its tasks. The authority had also signed with … Read more

Emaar the Economic City’s net losses narrowed 19% in nine months

JEDDAH: Saudi Arabia’s Emaar the Economic City (EEC) reported that its net losses narrowed 19 per cent in the first nine months of 2021 from a year ago, Arab News reported. The net losses for January-September reached SR545 million ($145 million), down from SR674 million in the same period a year ago, according to a … Read more