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FINANCIAL NEWS
Saudi Arabia allocates USD800m to buy land for Riyadh metro
05 Aug 2013
(MENAFN) Saudi Arabia has allocated some USD800 million to buy land in Riyadh to build the capital’s first metro rail system, Reuters reported.
Ibrahim Bin Muhammad Al Sultan, president of the Arriyadh Development Authority said that the lands are already chosen and the teams already started the process three months ago.
Al Sultan said land would be acquired for the metro in 35 locations but he did not expect the purchases to disrupt Riyadh’s real estate market.
Earlier this month, the government awarded USD22.5 billion in contracts to three foreign-led consortia for the design and construction of the system. The project will involve six rail lines extending 176km and carrying electric, driverless trains.
Design work will start immediately and construction will begin in the first quarter of 2014, the government said. The project is expected to be completed in 2019.
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BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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