Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi - SR250 billion allocated for housing projects  Join our daily free Newsletter

MENAFN - Arab News - 24/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) The government has allocated SR250 billion for constructing 500,000 low-cost housing units across the Kingdom, Finance Minister Ibrahim Al-Assaf said on Monday. "This project has nothing to do with annual budgets," he added.
Speaking to Saudi Arabian Television Channel One, Al-Assaf said: "Every year we sign new contracts for constructing housing units and payments for them are made from the SR250 billion allocated for the purpose. This project will not be affected by any negative developments."
A Royal Decree has been issued instructing authorities to transfer the surplus from the 2014 budget to state reserves. The finance minister has been authorized to take loans or transfer from reserves as per requirements, especially to pay public debts and cover deficit.
The budget estimated the total municipal expenditures in 2014 at SR37.54 billion and revenue at SR4.44 billion. The rest, SR33.1 billion, will be allocated from the budget.
The budget estimated the revenue of Saudi Ports Authority at SR4.074 billion and expenditure at SR1.75 billion while the revenue and expenditure of Saudi Arabian Airlines at SR26.59 billion.
The projected revenue and expenditure for the General Organization for Grain Silos and Flourmills are SR1.85 billion and SR2.48 billion respectively.
Budget allocations for other organizations were:
Saline Water Conversion Corporation: SR16.57 billion; Saudi Railway Organization SR1.87 billion; Royal Commission for Jubail and Yanbu SR9 billion; Saudi Standards Organization SR396 million; SAGIA SR308 million; King Saud University SR9.54 billion; King Abdulaziz University SR5.98 billion; King Fahd University of Petroleum and Minerals SR1.39 billion; Imam University SR4.11 billion and Madinah Islamic University SR1 billion.
Allocations for other universities were: King Faisal SR2.29 billion; Umm Al-Qura SR2.82 billion; King Khaled SR3.72 billion; Taibah SR2.23 billion; Qassim SR2.56 billion; Taif SR2 billion; Jazan SR1.85 billion; Al-Jouf SR1.45 billion; Hail SR1.36 billion; Tabuk SR1.36 billion; Baha SR997 million; Najran SR1.17 billion; Northern Border SR1 billion; Princess Nora SR2.6 billion; Dammam SR3.2 billion; Prince Salman SR1.3 billion; Majmaa SR959 million; Shaqra SR1 billion; and Saudi Electronic University SR378 million.

 


Arab News




  MENA News Headlines
 Dec 21 2014 - Saudi- Muhammad Ali hospitalized with mild pneumoniaArab News
(MENAFN - Arab News) LOUISVILLE: Boxing legend Muhammad Ali was in stable condition after being hospitalized with a "mild" case of pneumonia his spokesman Bob Gunnell said.The 72-year-old Ali was ...

 Dec 21 2014 - Al-Naimi is 'confident' oil prices will improveArab News
(MENAFN - Arab News) ABU DHABI: Petroleum and Mineral Resources Minister Ali Al-Naimi said he was confident world prices would improve after a slide he blamed partly on 'lack of cooperation' by ...

 Dec 21 2014 - Irresponsible non-OPEC output behind oil price plunge: UAEArab News
(MENAFN - Arab News) ABU DHABI: "Irresponsible" levels of output by producers from outside the OPEC oil cartel is among the main causes of the slump in prices the UAE energy minister charged ...

 Dec 21 2014 - Gulf oil producers stand firm on OPEC outputAFP
(MENAFN - AFP) Oil-rich Arab Gulf countries stood firm against non-OPEC crude producers on Sunday, vowing they will not cut output nor hold an emergency cartel meeting to support slumping ...

 Dec 21 2014 - Saudi produces 74 percent of GCC polymer capacityMENAFN
(MENAFN) The National Petrochemical Industrial Co. (NATPET), a Saudi joint stock company, has revealed that 74 percent of the GCC's polymer capacity, totaling 17.6 million tons, was produced in the ...

 Dec 21 2014 - Algeria worried on falling oil pricesMENAFN
(MENAFN) Algeria, which oil revenues make up 97 percent of its hard currency earnings and 60 percent of the government's budget, is beginning to feel the impact of the fall in oil prices that led it ...

 Dec 21 2014 - UAE's non-oil trade hits USD142b in H1MENAFN
(MENAFN) The UAE's Federal Customs Authority (FCA) said that the value of direct total foreign non-oil trade has reached USD142.8 billion during the January-June period of 2014, Arabian Business ...

 Dec 21 2014 - UAE slams non-OPEC members on rising oil productionMENAFN
(MENAFN) The UAE's Ministry of Energy said that the decision made by the Organization of the Petroleum Countries (OPEC) not to cut production was correct despite the prices continuing with their drop ...

 Dec 21 2014 - Oman's OLC, Spanish CLH sign USD320m contractMENAFN
(MENAFN) Orpic Logistics Company (OLC), a joint venture between Oman Oil Refineries and Petroleum Industries (Orpic), announced it has signed an engineering, procurement and construction (EPC) ...

 Dec 21 2014 - UAE's Hakkasan acquires USD36m The Light GroupMENAFN
(MENAFN) Hakkasan Group, the hospitality and entertainment company owned by Abu Dhabi-based Tasameem Real Estate, announced it has acquired The Light Group from Morgans Hotel Group (MHG), Arabian ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help