News

Saudi Arabia Set To Invest $1 Trillion In The Real Estate Sector

Backed by a young population and expanding urbanization, the property sector has impressive future growth potential.

Published

3 years ago

December 12, 2022

saudi arabia set to invest $1 trillion in the real estate sector

S&P Global Ratings, a major US credit rating agency, has forecast sustained market growth for the Kingdom of Saudi Arabia, as $1 trillion is set to be pumped into infrastructure and real estate projects over the coming decade.

As well as a young and growing population, expanding urbanization is a significant reason for S&P’s promising predictions, with at least eight new cities being planned along the Red Sea coast by 2030. During the Distinguished Cities Projects Exhibition in Riyadh, nine agreements worth $533 million were signed by the National Housing Company and other national strategic partners.

Saudi Arabia’s large-scale real estate programs will provide 1.3 million new homes overall, invigorating the business and financial sectors, and pumping money into both commercial and residential building via investments.

Saudi Arabia’s economy has also benefited from government initiatives to attract multinational companies, with tech startups, in particular, gravitating to the Kingdom and boosting the occupancy rates of commercial and office real estate across the region.

Also Read: Metaverse Will Bring $15B Annually To Gulf Economies By 2030

S&P also noted that many new programs had been initiated to scale up local housing and revitalize the financial sector, potentially benefiting commercial real estate across the country. As the tourism sector continues to grow rapidly, even more real estate investment opportunities will present themselves as companies and private individuals seek to relocate to Saudi Arabia.

As well as experiencing a dramatic flourishing of the commercial and residential real estate sectors, Saudi Arabia’s 2030 vision is also bringing a boost to energy, healthcare and the wider digital economy.

News

Google Pay Launches In Lebanon With Support From Multiple Banks

Bank Audi, Neo Digital Bank, and Whish Money are all offering support for Mastercard and Visa cardholders.

Published

2 weeks ago

June 25, 2025

Nour Nasir

google pay launches in lebanon with support from multiple banks

neo Bank Audi

Google Pay has officially launched in Lebanon, allowing Android users to make secure, contactless payments via their smartphones. The rollout has been quickly supported by BLOM, BLF, Whish Money, Bank Audi, and its digital banking offshoot Neo Digital Bank. Customers of all three services can now add eligible Mastercard and Visa payment cards to their Google Wallets.

The integration enables in-store tap-to-pay transactions, as well as online and in-app purchases, using the same cards users already carry. For Bank Audi and Neo Digital Bank, the launch covers Mastercard products; for Whish Money, BLOM, and BLF it includes Visa cards. Payments are processed through the Google Pay platform, which maintains cardholder privacy while extending standard card protections.

To begin using the service, customers can download the Google Wallet app from Google Play, select “Add to Wallet,” and follow a short verification process. Once set up, payments can be made with a single tap — eliminating the need to carry physical cards or cash.

Also Read: Oakley And Meta Reveal Performance-Focused AI Smart Glasses

“This launch represents a significant milestone in our commitment to digital innovation and customer convenience,” said Toufic Koussa, CEO at Whish Money. “By making Whish Visa Card available on Google Pay, we’re enabling our customers to make everyday transactions faster, more secure, and more inclusive. It’s about giving them the tools they need to transact seamlessly, wherever they are”.

The move follows the official activation of Google Pay in Lebanon on June 24, 2025, and marks a notable expansion of mobile payment options in a market where Apple Pay has yet to gain traction. Google’s entry is expected to increase digital wallet adoption among Android users and pave the way for further collaborations with regional financial institutions.