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ֱ’s NHC sees robust sales in 2025 amid lower interest rates

CEO of NHC, Mohammad Al-Buty, said that despite the challenges posed by higher interest rates in 2024, NHC successfully delivered high-quality products to meet market demand.
CEO of NHC, Mohammad Al-Buty, said that despite the challenges posed by higher interest rates in 2024, NHC successfully delivered high-quality products to meet market demand.
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Updated 28 January 2025

ֱ’s NHC sees robust sales in 2025 amid lower interest rates

ֱ’s NHC sees robust sales in 2025 amid lower interest rates

RIYADH: The CEO of NHC stated that lower interest rates in 2025 are expected to help the company exceed its 2024 achievements, with the reduced rates likely to boost sales.

During a session titled “Enhancing Quality of Life: The Role of Real Estate in Community Development” on the opening day of the Real Estate Future Forum in Riyadh, Mohammad Al-Buty highlighted that despite the challenges posed by higher interest rates in 2024, the company — formerly known as National Housing Co. — successfully delivered high-quality products to meet market demand.

This achievement aligns with NHC’s ambition to become the leading real estate developer in the region, positioning itself at the forefront of the industry. It also supports the company’s commitment to delivering 300,000 housing units by 2025 and 600,000 by 2030, addressing the diverse needs of all societal segments.

“We’ve doubled our sales in 2024, and with the expected lower interest rates in 2025, we anticipate an even greater positive impact on the real estate market,” Al-Buty said. “Our goal now is to surpass what we achieved in 2024. We expect the reduction in interest rates to further boost sales."

“In 2023-2024, interest rates had an impact on mortgage demand for us,” he explained. “While 2024 saw the highest interest rates, it also recorded the highest sales. We were able to navigate these challenges by offering high-quality products that could effectively accommodate the higher rates.”

The CEO further emphasized that NHC does not focus on developing units for specific segments, but instead designs for entire communities, catering to all classes and segments.

“We develop based on market needs, using data to identify the desires and demands of our customers. We conduct thorough market studies,” Al-Buty explained.

He also highlighted: “Our pricing is highly competitive compared to neighboring countries for housing units.” 

During a separate panel discussion titled “New Frontiers: Balance and Innovation in the Real Estate Landscape,” Qatar’s Municipality Minister Abdullah Al-Attiya  highlighted that the World Cup was already integrated into the country’s Vision 2030, long before it was announced or hosted.

“The World Cup accelerated the execution of our plans, driving progress and resource allocation toward developing world-class infrastructure, ultimately positioning us as a global leader in infrastructure,” Al-Attiya explained.

Also participating in the panel, Maldives Minister of Construction, Housing, and Infrastructure Abdulla Muththalib addressed the significant challenges his country faces, noting that tackling environmental issues and providing essential services to the population come at a considerable cost. 

“We need to build safer islands to address the environmental challenges we're facing, which will involve relocating people— an expensive process for us,” Muththalib said.

“Given that our GDP is under $10 billion per year, it requires a significant investment for a country like ours to protect the islands and build homes for those who need to relocate,” he added.

The minister went on to explain that the government has launched an ambitious plan to reclaim a nearby lagoon near the capital city, covering an area of 1,100 hectares. 

“We plan to build a city for over 200,000 people, focusing on relocating residents from smaller islands. We must do this because, with climate change, we know we can’t sustain all these islands in the long term,” Muththalib said.

Ahmed Dangiwa, minister for housing and urban development of Nigeria, who was also part of the panel, discussed the National Social Housing Fund currently being developed in Nigeria. The fund aims to ensure that vulnerable populations, those with no income, and the underprivileged can access affordable housing.

“When the fund is complete, Nigerians will be able to access funding for housing, with some homes priced low enough for even low-income individuals to afford,” Dangiwa explained.

He further emphasized: “Building materials will be sourced locally, reducing the need to import them, making the houses more affordable for the population.” 


Closing Bell: Saudi main index slips to close at 11,536 

Closing Bell: Saudi main index slips to close at 11,536 
Updated 02 November 2025

Closing Bell: Saudi main index slips to close at 11,536 

Closing Bell: Saudi main index slips to close at 11,536 

RIYADH: ֱ’s Tadawul All Share Index fell on Sunday, losing 119.56 points, or 1.03 percent, to close at 11,536.29. 

The benchmark index recorded a total trading turnover of SR4.44 billion ($1.18 billion), with 66 stocks advancing and 191 declining. 

The Kingdom’s parallel market Nomu also slipped 73.34 points, or 0.29 percent, to close at 24,943.63, as 26 stocks gained while 43 retreated. 

Meanwhile, the MSCI Tadawul Index dropped 18.74 points, or 1.24 percent, to finish at 1,489.32. 

Advanced Building Industries Co. was the day’s top performer, with its share price jumping 9.99 percent to SR39.18. Other notable gainers included Allied Cooperative Insurance Group, which rose 6 percent to SR11.83, and United Carton Industries Co., which advanced 5.14 percent to SR31.52. 

On the other hand, Naseej International Trading Co. posted the steepest loss, dropping 7.56 percent to SR54.40. Americana Restaurants International PLC declined 6.76 percent to SR2.07, while Saudi Co. for Hardware fell 6.02 percent to SR31.20. 

In corporate announcements, Nayifat Finance Co. reported a net profit of SR59.4 million for the first nine months of 2025, down 37 percent year on year, according to a Tadawul filing. The company attributed the decline to lower operating revenues and higher credit impairment charges aimed at improving its coverage ratio.  

Nayifat’s shares closed 1.13 percent lower at SR13.19. 

Arabian Drilling Co. said its net profit for the first nine months of 2025 dropped 70.8 percent to SR73.3 million, mainly due to a shift in its activity mix, with reduced offshore contributions partly offset by improvements in the land segment.  

The company’s shares rose 2.99 percent to SR88.55. 

Meanwhile, National Medical Care Co. posted a net profit of SR247.5 million for the first nine months of the year, up 17.3 percent from a year earlier. The increase was attributed to higher revenue and cost-optimization measures that improved margins at the gross, operating, and EBITDA levels.  

The stock ended 0.45 percent higher at SR177.80. 


Kuwait launches digital skills drive with Microsoft to boost AI and cloud capabilities 

Kuwait launches digital skills drive with Microsoft to boost AI and cloud capabilities 
Updated 02 November 2025

Kuwait launches digital skills drive with Microsoft to boost AI and cloud capabilities 

Kuwait launches digital skills drive with Microsoft to boost AI and cloud capabilities 

JEDDAH: Kuwait has launched a national training initiative to equip citizens with skills in artificial intelligence, cloud computing, and Microsoft Copilot tools, as part of efforts to build a digitally empowered workforce.  

The “Kuwait Skills” program — launched in partnership with Microsoft and the Central Agency for Information Technology — seeks to strengthen the country’s human capital and align with the state’s “New Kuwait 2035” vision, according to the Kuwait News Agency, or KUNA. 

The collaboration expands on Microsoft’s earlier announcement in March of plans to establish an AI-powered Azure cloud region in Kuwait, a move expected to bolster national infrastructure and support the country’s ambitions to become a regional technology hub. 

Minister of State for Communications Affairs Omar Al-Omar said the initiative reflects the government’s goal of building an integrated digital ecosystem that enhances public-sector efficiency and supports sustainable, innovation-led development. 

“He emphasized that empowering Kuwaiti professionals with advanced technical skills has become a key pillar in positioning the country as a leader in the digital and knowledge economy,” KUNA reported. 

The program, the minister added, embodies a national vision to prepare a capable generation that contributes to a modern, innovation-led economy by developing future-ready skills that foster creativity and productivity. 

“He urged all government entities to seize this opportunity to refine talents and build professional capacities, reaffirming the ministry’s commitment to supporting initiatives that empower a generation capable of leading Kuwait’s digital transformation,” the KUNA report added. 

Microsoft’s Charles Nahas, regional general manager for the Middle East, said the program aims to train more than 30,000 employees, 4,000 technical experts, and 350 leaders on AI and cloud technologies, while enabling over 100,000 users to utilize Copilot tools through a new Center of Excellence developed with CAIT. 

He noted that the initiative represents not only training but a holistic transformation, providing access to global education, recognized certifications, and career development opportunities. 

Nahas added that the partnership is part of a shared vision to accelerate innovation, enhance cybersecurity, and expand Kuwait’s digital economy to benefit both public institutions and private enterprises. 

The program’s progress will be tracked through quarterly reports assessing training outcomes and measurable gains in digital capacity, according to KUNA. 


EV exhibition in Riyadh showcases world’s fastest car and three-wheeled e-bike 

EV exhibition in Riyadh showcases world’s fastest car and three-wheeled e-bike 
Updated 02 November 2025

EV exhibition in Riyadh showcases world’s fastest car and three-wheeled e-bike 

EV exhibition in Riyadh showcases world’s fastest car and three-wheeled e-bike 

RIYADH: A three-wheeled electric bicycle, an electric car described as the world’s fastest, and electric buses were among the key innovations showcased at the electric vehicle exhibition held in the Saudi capital over three days. 

ֱ has set a clear goal of converting 30 percent of all vehicles in Riyadh to electric by 2030, as part of a broader strategy to halve the city’s emissions, reported. 

The fourth edition of the exhibition was organized within the framework of Vision 2030, which aims to advance clean transportation. It also served as a platform to discuss local manufacturing plans in the emerging EV sector — domestically, regionally, and globally — and to highlight efforts to develop the skills of Saudi nationals working in the industry. 

Visitors to the exhibition were greeted by strong competition among participating companies showcasing their latest transportation innovations. This competition extended beyond speed to include fueling methods and vehicle capabilities, underscoring that the energy source for future transportation has shifted from gasoline and diesel to electricity — Edison’s invention that transformed modern life. 

The exhibition featured the launch of several new vehicles. Bako Motors unveiled the Bako B1, a three-wheeled electric motorcycle designed for last-mile delivery services. The vehicle includes a solar roof that can generate enough energy for up to 50 km of daily driving, along with a 2,000-liter cargo capacity, addressing the needs of logistics firms seeking sustainable fleets. 

Also on display was the ROX ADAMAS, an all-terrain SUV showcased for the first time, while Lucid Motors presented its Gravity SUV, featuring a range exceeding 700 km and equipped with advanced driver-assistance technologies. 

DAN Motors introduced its CG150 motorcycle, featuring a 149cc engine, five-speed transmission, top speed of 95 km/h, an 11.5-liter fuel tank, and a payload capacity of up to 265 kg. 

This shift toward electric mobility is being driven by significant investments in local manufacturing and growing consumer confidence. Market studies suggest that about 40 percent of the population plans to purchase an electric vehicle within the next three years. 

A key theme at the exhibition was progress in infrastructure development. 

Faisal Sultan, regional president of Lucid Motors, said the organizational structure and infrastructure for EV adoption are now in place. He noted that the Public Investment Fund has established a specialized company to develop the national charging network, which has already expanded to more than 200 locations, with plans to exceed 1,000 charging stations by 2030. 


German dairy, honey, and coffee firms plan factories in ֱ 

German dairy, honey, and coffee firms plan factories in ֱ 
Updated 02 November 2025

German dairy, honey, and coffee firms plan factories in ֱ 

German dairy, honey, and coffee firms plan factories in ֱ 

JEDDAH: Six German companies specializing in dairy, honey, and coffee are exploring investment opportunities and commercial partnerships with Saudi investors and suppliers. 

The firms plan to expand into the Saudi market in the coming phases and are working to establish local factories for food production and processing, according to Rawabi Basyouni, head of the German Desk for the Western Province at the German-Saudi Liaison Office for Economic Affairs,  reported. 

Basyouni noted that the companies are targeting key sectors including dairy, cheese, honey, jams, and coffee, adding that they recognize the scale of the Saudi market and the high quality of existing domestic products. 

Her remarks came during a meeting between the German food sector delegation and representatives of the Jeddah Chamber of Commerce, attended by a number of investors and stakeholders in the food industry. 

According to the Food and Agriculture Organization of the UN, Germany leads the EU in milk production, with an annual output of around 33 million metric tonnes. The country’s total dairy market is projected to grow from about $30 billion in 2024 to around $39 billion by 2029, at a compound annual growth rate of nearly 5 percent. 

Cheese currently represents the largest segment by value in Germany’s dairy market and is expected to remain the fastest-growing in the coming years, driven by rising demand for high-quality and specialty cheeses. 

Fahad Al-Ghamdi, chairman of the Food and Drug Products Committee at the Jeddah Chamber of Commerce, told Al-Eqtisadiah that “the committee has been coordinating with several German food companies,” describing the meeting as an important opportunity to strengthen investment prospects between the two countries. 

He confirmed ongoing cooperation to enhance partnerships between Saudi and German firms in the date industry, noting strong European demand for Saudi dates. He added that some date varieties are used in pharmaceuticals, while others are incorporated into dairy and related products. 

Al-Ghamdi added that while the German market is competitive and robust, ֱ offers an attractive environment for foreign investment, expressing optimism that several agreements and deals will be signed between Saudi and German companies in the food sector. 


ֱ key to BYD’s global growth plans: Stella Li 

ֱ key to BYD’s global growth plans: Stella Li 
Updated 02 November 2025

ֱ key to BYD’s global growth plans: Stella Li 

ֱ key to BYD’s global growth plans: Stella Li 

JEDDAH: They once said the automobile world was no place for a woman. But Chinese executive Stella Li proved them wrong — and went on to become one of the most influential women in the global automotive industry. 

As executive vice president and president of BYD Americas, Li has left an indelible mark on the auto industry and beyond. From her academic beginnings at China’s prestigious Fudan University to her pivotal role in transforming BYD into a dominant force in the electric vehicle market, Li’s story is one of vision, persistence, and leadership. 

Stella Li, the executive vice president of BYD. Supplied

Li’s journey began when she joined BYD in 1996. A year later, she became marketing manager, helping the company grow as a leading mobile phone battery manufacturer. 

Recalling her early days, Li told Arab News in an exclusive interview: “In 1999, I landed in Rotterdam to open our first office in Europe. I had only $30,000 as a budget and a container load of the Chinese group’s lithium-ion batteries. The management told me that’s the only budget — sell these batteries to survive.” 

With just two people helping her, she was able to clinch a deal and sell the batteries, and since then, she moved BYD to another level, and the company has moved far past its roots to become one of the world’s most powerful electric-vehicle makers. 

Owing to her ability to navigate complex challenges, Li went on to open BYD’s first overseas office in Hong Kong in 1997, followed by its first European office in Rotterdam in 1999. In 2002, she established BYD’s North American headquarters for batteries and consumer electronics in Chicago. By 2010, she was appointed president of BYD Motors Inc., spearheading the company’s expansion into North and South America. 

As one of the most powerful women shaping the future of mobility, Li was among the speakers at this year’s Future Investment Initiative conference in Riyadh. 

The 55-year-old participated in several discussions and media interactions, including talks on BYD’s plans for a potential Gulf distribution hub in ֱ. 

“The new distribution center is a huge investment to serve all the GCC countries and is expected to open next year,” she said. 

Reflecting on her visit to ֱ, Li added: “When I was at the FII conference, I felt that the Saudi government is very committed to its Vision. The officials are not just talking — they deliver and are moving very fast to achieve the Vision’s goals. I am very impressed with the government’s intention to transform the country in such a short period.” 

Li noted that BYD is not only bringing its global No. 1 New Energy Vehicle expertise to the Saudi market but also tailoring its expansion to local needs — with flagship showrooms in Riyadh and Jeddah, sub-dealers in Dammam, immersive discovery centers, and strategic collaborations with Aramco and the Saudi Green Initiative. 

Speaking about the Aramco partnership, she explained: “We have signed an agreement with Saudi Aramco Technologies Co., a subsidiary of Aramco, to combine research and development capabilities to develop solutions that deliver both environmental and efficiency gains.” 

Asked about the importance of ֱ to BYD’s growth, Li said: “ֱ means a lot to us. To prove that, this is my second visit in six weeks. It’s a promise of partnership, progress, and a future where ֱ isn’t just adopting technology — it’s helping to define it.” 

She also revealed that BYD plans to deploy 500 to 1,000 ultra-fast EV charging stations across the Gulf region. 

“Yes, we will offer one-megawatt units in ֱ and the UAE that can deliver a 400-kilometer range in just five minutes,” she said. 

Beyond technology, Li is a strong advocate for women’s leadership. She praised ֱ’s continued efforts to empower women economically and socially. 

“Women in every country are present at every stage of the process, and their input is essential to BYD’s success. I am really glad to see Saudi women taking a major role in the development plan — and we are glad to have them here with us in ֱ,” she said. 

Stella Li, the executive vice president of BYD. Supplied

On developing young Saudi talent, she added: “We came to ֱ, brought our technology, and established our branches that now employ many Saudis. It is our duty to train young local talent — in technology and leadership. It doesn’t matter how qualified these young people are; we make them able to learn and become the best in the industry.” 

Li praised the Kingdom’s focus on nurturing local talent, especially women in technology and leadership. 

The trailblazing executive recently became the first woman in the history of the World Car of the Year, or WCOTY, program to win the World Car Person of the Year 2025 award. 

A jury of 96 international automotive journalists from 30 countries selected her for making the most significant contribution to the global automotive industry over the past year. 

Li was also featured in the Time 100 Climate list of the most influential leaders in the fight against climate change. 

In conclusion, she said she is satisfied with BYD’s sales performance in ֱ and noted that the company is actively expanding its local sales teams, with a focus on earning consumer trust.