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Jeddah: The Saudi Arabian Department of Commerce has granted six steel export licenses and six cement export licenses so far this year.
In 2020, the ministry issued a total of 21 cement and 19 steel export licenses and is currently considering two other export requirements.
The new license will be granted when construction activity begins to recover after many projects have been postponed during the coronavirus (COVID-19) pandemic.
At the same time, steel prices soared to 3,514.73 SR ($ 937.26) per ton in the first quarter of 2021. Data from the General Statistics Bureau (GASTAT).
Badr Jawar, chairman of the Saudi Chamber of Commerce’s National Committee on Cement Companies, said exports of clinker and cement Saudis have increased since exports were allowed and companies were exempt from export tariffs. Become a strong competitor in overseas markets.
He said local companies would continue to export to foreign countries, which increased dramatically in the first quarter of this year.
According to a survey by real estate consultancy JLL, material prices rose due to a surge in construction activity in the first quarter.
“From a supply perspective, we recorded an increase in construction activity in the first quarter,” said a JLL report.
According to that figure, Riyadh’s housing sector delivered 7,700 units in the first quarter, bringing the total to 1.3 million units in the capital. Approximately 2,000 units have been added to Jeddah, bringing the total to 838,000 units.
According to the report, 36,000 units will be delivered in Riyadh and 12,000 units in Jeddah this year. This year, 386,000 square meters of office space, 240 square meters of retail space and 2,800 new hotel rooms will be built in Riad, and Jedda will have a total of 43,000 square meters of office space and 200,000 square meters of retail stores. Space and 2,700 new hotel rooms.
At the same time, the Kingdom estimates that the Kingdom issued 307 new factory permits in the first three months of the year. This reflects a total investment of 17.72 billion SR ($ 4.73 billion) in the first quarter of 2021, an increase of 428.6% year-on-year.
According to data from the Ministry of Industry and Mineral Resources website, 240 permits were issued during the same period last year, an increase of 27.92% over the previous year.
Osama Ganem al-Obaidi, an economic adviser and expert in international economic law, told Arab News that the initiative was part of the government’s efforts to “turn Saudi Arabia into a major industrial power.”
“Development in this sector is one of the pillars of Saudi Vision 2030 to achieve a competitive economy and sustainable development. Saudi Arabia is a food, pharmaceutical, medical supplies, military industry, oil, gas and oil. We aim to develop promising industries in chemistry, mining, and chemistry-related industries.
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