{"id":101634,"date":"2025-10-21T00:00:00","date_gmt":"2025-10-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/21\/chinese-developers-to-make-up-for-local-contractors-shortage-al-hogail\/"},"modified":"2025-10-21T00:00:00","modified_gmt":"2025-10-21T00:00:00","slug":"chinese-developers-to-make-up-for-local-contractors-shortage-al-hogail","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/10\/21\/chinese-developers-to-make-up-for-local-contractors-shortage-al-hogail\/","title":{"rendered":"Chinese developers to make up for local contractors shortage -Al Hogail"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">Good morning, ladies and gents<\/strong><span style=\"background-color: transparent;\">. Real estate reforms seem to have started pulling the brakes on rising prices, as the latest data from Gastat is showing 3Q saw the slowest increase in prices in two years. Adding to the good news are big banks seeing a bumper third quarter, with net income exceeding analyst forecasts for all four banks out with their results yesterday. Let\u2019s dive in.<\/span><\/p>\n<p class=\"tag-border-left\">HAPPENING TOMORROW-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Saudi Exchange will start trading Canadian Medical Center shares on the<\/strong><strong> Main <\/strong><strong>Market tomorrow<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/news-detail-wcm\/?newsId=9067&amp;locale=en\" style=\"\" rel=\"noopener\">Tadawul statement<\/a>. The move follows the exchange\u2019s approval <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/8137d7ca-e1ae-4fab-8925-ba7abd51ab5a\/riyadh-international-book-fair-begins-today\" style=\"\" rel=\"noopener\">earlier this month<\/a> to transfer from Nomu with a capital of SAR 77 mn. The share price will be allowed to fluctuate by 10% daily.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong><strong>Brace for a wild weather ride today: <\/strong>Thunderstorms and hail are set to hit Jazan and Asir, while the highlands of Al Baha and Makkah could see heavy rainy clouds and pockets of fog. Dusty, gusty winds will whip through southern Riyadh, and lighter dust may stir in the Northern Borders and Eastern regions.<\/p>\n<ul>\n<li><strong>Riyadh:<\/strong> 33\u00b0C high \/ 19\u00b0C low,<\/li>\n<li><strong>Jeddah:<\/strong> 36\u00b0C high \/ 26\u00b0C low<\/li>\n<li><strong>Makkah:<\/strong> 38\u00b0C high \/ 28\u00b0C low<\/li>\n<li><strong>Dammam: <\/strong>33\u00b0C high \/ 20\u00b0C low.<\/li>\n<\/ul>\n<p class=\"tag-border-left\">PSAs- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh, Tabu<\/strong><strong>k, and Makkah\u2019s residents: brace yourselves for fixed sirens on Monday, 3 <\/strong><strong>November<\/strong>, state news agency <a target=\"_blank\" href=\"https:\/\/www.spa.gov.sa\/N2423809\" style=\"\" rel=\"noopener\">SPA<\/a> reported on Sunday. The sirens will sound in Riyadh\u2019s Diriyah, Al Kharj, and Al Dilam governorates, Makkah\u2019s Jeddah and Thuwal, and across Tabuk governorates. Warning messages will be broadcast via the new tone at 1pm, the national alert tone at 1:10pm, and fixed sirens in designated areas at 1:15pm. The General Directorate of Civil Defense conducts these sirens to ensure community awareness and the system\u2019s efficiency and readiness to respond.<\/p>\n<p class=\"tag-border-left\"> WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt1\"><\/a> #1-<\/strong> <strong>The Kingd<\/strong><strong>om is turning to \u201cthe best Chinese names\u201d in the real estate sector<\/strong> in a bid to overcome shortage of local contractors, Housing Minister Majid Al Hogail told <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/financial-markets\/103034\/%D8%A7%D8%AA%D9%81%D8%A7%D9%82%D9%8A%D8%A7%D8%AA-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D9%85%D8%B9-%D8%A7%D9%84%D8%B5%D9%8A%D9%86-%D8%AA%D8%B9%D9%88%D8%B6-%D9%86%D9%82%D8%B5-%D8%A7%D9%84%D9%85%D9%82%D8%A7%D9%88%D9%84%D9%8A%D9%86-%D8%A8%D8%A7%D9%84%D8%B3%D9%88%D9%82-%D8%A7%D9%84%D9%85%D8%AD%D9%84%D9%8A%D8%A9\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> on Sunday. The White Land Tax law will help increase the growing momentum of the Kingdom\u2019s real estate sector by ramping up cooperation with international companies, Al Hogail noted.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- Al Hogail visited China <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/11890303-accf-4d77-868d-56e1c7ef1238\" style=\"\" rel=\"noopener\">last week<\/a><\/strong>, holding meetings with representatives of PowerChina, MCC, and CMEC to discuss cooperation in construction technologies. The visit also saw the National Housing Company sign framework agreements with Chinese firms, SAR 8.7 bn of which are with the China Seventh Construction Engineering Bureau (C7B) to develop over 20k units.<\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a> #2- <\/strong><strong><a target=\"_blank\" href=\"https:\/\/alhassanest.com\/en\/\" style=\"\" rel=\"noopener\">Al Hassan Contracting<\/a><\/strong><strong> is in talks with Egyptian digital transformation and <\/strong><strong>cybersecurity solutions company <\/strong><strong><a target=\"_blank\" href=\"https:\/\/digital-planets.net\/\" style=\"\" rel=\"noopener\">Digital Planets<\/a><\/strong><strong> over a 50% stake acquisition<\/strong>, Digital Planets\u2019 CEO Ahmed Hanafy told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/2080755\/%D8%A7%D9%84%D8%AD%D8%B3%D9%86-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D9%84%D9%84%D9%85%D9%82%D8%A7%D9%88%D9%84%D8%A7%D8%AA-%D8%AA%D8%AA%D9%81%D8%A7%D9%88%D8%B6-%D9%84%D8%B4%D8%B1%D8%A7%D8%A1-50\/\" style=\"\" rel=\"noopener\">Al Mal<\/a>. The transaction \u2014 which could later extend to include Digital Planets\u2019 UAE operations \u2014 follows Al Hassan\u2019s earlier acquisition of a 50% stake in the company\u2019s Saudi subsidiary, Hanafy told EnterpriseAM.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also in the pipeline: <\/strong>Digital Planets is preparing to enter the Omani market next year, Hanafy told us. The move aims to strengthen the company\u2019s presence in the GGC. <\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>Saudi Arabia plans to restructure<\/strong><strong> railway <\/strong><strong>projects in<\/strong><strong>to smaller fragments to attract private funding<\/strong>, Transport Minister Saleh Al Jasser told <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/economics\/103055\/%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%B3%D8%B9%D9%89-%D9%84%D8%AC%D8%B0%D8%A8-%D8%A7%D9%84%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D8%AE%D8%A7%D8%B5-%D8%A5%D9%84%D9%89-%D9%85%D8%B4%D8%A7%D8%B1%D9%8A%D8%B9-%D8%A7%D9%84%D8%B3%D9%83%D9%83-%D8%A7%D9%84%D8%AD%D8%AF%D9%8A%D8%AF%D9%8A%D8%A9\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> on the sidelines of the Saudi International Railway Exhibition and Conference. The government is seeking to boost local components in the railway industry from 52% to 60% by the end of the decade.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s in store for Saudi rail? <\/strong>The Kingdom is currently working on its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cf6947ce-c413-4e55-a442-25231422967c\" style=\"\" rel=\"noopener\">Riyadh-Jeddah land<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cf6947ce-c413-4e55-a442-25231422967c\" style=\"\" rel=\"noopener\">bridge megaproject<\/a>, whose project management contract was awarded to a consortium of US-based construction management firm Hill International, Italian consulting firm Italferr, and Spanish engineering firm Sener. Also in the works is the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/c7432684-6f0f-40c1-b9df-4444ca62c7ad\/gcc-looks-to-operate-railway-project-by-2030\" style=\"\" rel=\"noopener\">GCC railway project<\/a>, a 2.1k km railway linking the six GCC member states.<\/p>\n<p class=\"tag-border-left\">DATA POINTS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Qualified <\/strong><strong>foreign investors recorded SAR 1.5 bn in net purchases of Saudi stocks on <\/strong><strong>Tadawul main market during the week that ended on 16 October<\/strong>, according to the exchange\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/10\/948.pdf\" style=\"\" rel=\"noopener\">Weekly Ownership and Trading Activity report (pdf)<\/a>. Saudi investors recorded SAR 1.5 bn in net sales, while foreign investors posted net purchases of SAR 1.4 bn and GCC investors posted net purchases of SAR 24.1 mn. Institutional investors led the purchasing activity at 53.4%, accounting for SAR 15.4 bn, while retail investors totaled 46.6%, amounting to SAR 13.5 bn.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"ksa\/en\/user\/NewsLetters\" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<\/strong><strong>You\u2019re reading EnterpriseAM Saudi<\/strong>, your essential daily roundup of business, economics, and must-read news about Saudi, delivered straight to your inbox. We\u2019re out Sunday through Thursday by 7am Riyadh time.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM Saudi is available without charge <\/strong>thanks to the generous support of our friends at Tas\u2019heel and Hassan Allam Properties.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on <a target=\"_blank\" href=\"mailto:climate@enterprisemea.com\" style=\"\" rel=\"noopener\">saudi@enterpriseAM.com<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU KNOW <\/strong>that we also cover <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\" rel=\"noopener\">Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">the UAE<\/a>, and the MENA <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\" style=\"\" rel=\"noopener\">logistics<\/a> industry?<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of EnterpriseAM Saudi delivered every weekday.<br \/><strong>***<\/strong><\/p>\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a> Topping business headlines internationally this morning is Amazon Web Services\u2019 <\/strong><strong>outage yesterday<\/strong>, which lasted about 15 hours before operations were restored to normal. The outage \u2014 which was caused by a database malfunction \u2014 impacted thousands of websites and applications, including Venmo, Snapchat, and Zoom. It was the largest internet crash since CrowdStrike\u2019s last year, and the largest for AWS since a previous crash in 2021. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-10-20\/aws-suffers-service-disruption-with-thousands-reporting-issues?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/retail-consumer\/amazons-cloud-unit-reports-outage-several-websites-down-2025-10-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/arts-culture\/fine-art\/the-murky-underworld-where-the-louvre-thieves-hope-to-hawk-their-stolen-jewels-6daf5dda?mod=hp_lead_pos7\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/amazon-east-internet-services-outage-654a12ac9aff0bf4b9dc0e22499d92d7\" style=\"\" rel=\"noopener\">AP<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ALSO- Stock markets across the world are getting attention amid several stock rallies:<\/strong><\/p>\n<ul>\n<li><strong>The S&amp;P 500 rose 1%<\/strong> as earnings season rolls in, boosted by Apple\u2019s shares hitting an all-time high on the back of strong sales momentum for its iPhone 17. (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-10-19\/us-stock-futures-rise-as-china-trade-tensions-cool-markets-wrap\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/apple-closes-4-trillion-valuation-data-shows-strong-demand-iphone-17-2025-10-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a>) <\/li>\n<li><strong>Japan\u2019s benchmark Nikkei 225 rose more than 1%<\/strong> to an all-time high, as the country awaits a parliamentary vote which is likely to see Sanae Takaichi become the country\u2019s next prime minister (and its first female PM). (<a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2025\/10\/21\/asia-markets-today-japan-parliamentary-vote-australia-rare-earths.html\" style=\"\" rel=\"noopener\">CNBC<\/a>) <\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>PLUS: Al Hassan Contracting in talks with Egypt\u2019s Digital Planets for 50% stake<\/p>\n","protected":false},"author":1,"featured_media":101635,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2540],"tags":[10,106,9],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-101634","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-enterpriseam-ksa","tag-real-estate","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"a299c89e-15d5-4502-bfdd-bc701ccca475","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/10\/998.jpg","photo_position":"above","homepage_title":"","full_issue_title":"THIS MORNING: Chinese developers to make up for local contractors shortage -Al Hogail","related_issue":[101632],"teaser":"PLUS: Al Hassan Contracting in talks with Egypt\u2019s Digital Planets for 50% stake","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/10\/.ab538516-e02a-4ada-801a-9bce5a12069b.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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