������Ƶ

JEDDAH: Demand for environmental performance assessments under ������Ƶ’s Sustainable Building program has tripled over the past five years, highlighting the Kingdom’s growing focus on eco-friendly development.

The growth follows the launch of the program’s digital platform, the automation of service procedures, and improved accessibility. It also reflects enhancements to the ready-built property inspection service, which now allows developers to submit detailed inspection requests for villa compounds and apartment buildings, according to a Saudi Press Agency report citing an official press release.

As part of the Kingdom’s Vision 2030 strategy, the nation is accelerating efforts to make its rapidly growing construction sector more sustainable and environmentally responsible.

Developed by the Ministry of Municipal, Rural Affairs, and Housing, the Mostadam, meaning “sustainable,” program is designed to suit the Kingdom’s local climate and environmental conditions. It promotes sustainable building practices by improving the efficiency of energy, water, and resource use, while supporting economic growth and job creation.

Projects are awarded one of five ratings, ranging from Green to Diamond, based on their compliance with established sustainability criteria.

“The program noted that six projects received sustainability assessment certificates during the first half of 2025, marking a 200 percent increase compared to the same period in 2024. Moreover, the number of projects granted design conformity certificates rose by 93 percent, reaching 29 projects,” SPA reported.

The release-based report said that 38 new projects, including four communities covering over 8 million sq. meters, have registered for sustainability assessment services, with a combined built-up area exceeding 700,000 sq. meters.

Since its inception in 2018, the platform has issued over 6,000 reports, encompassing property inspections and evaluations of construction quality.

The national program, in cooperation with the Real Estate General Authority, also announced that university students registered with the Saudi Council of Engineers are now eligible to enroll in training programs offered by the Saudi Real Estate Institute, SPA added.

The release said that the initiative aims to support students, enhance their professional readiness, and empower youth by enabling them to develop their skills and create a “Certified Engineer” account through the Mostadam platform.

The Sustainability Assessment is the Kingdom’s first evaluation system aligned with international best practices and the Saudi Building Code. It enables owners and developers to measure the sustainability of new and existing buildings through a comprehensive rating system, from design to maintenance.

The assessment standards were specifically developed to suit the nation’s climate and environmental conditions, focusing on key areas such as energy, water, health, and quality of life, consistent with the goals of Saudi Vision 2030.

RIYADH: Egypt’s prime minister has instructed his government to prepare a package of investment opportunities for US firms, aiming to strengthen bilateral relations.

In a meeting with his Cabinet ministers, Mostafa Madbouly stated that several opportunities are available, particularly given the significant advantages offered by the country’s government to foreign investors, according to Egypt’s State Information Service. 

Egypt is intensifying efforts to attract foreign direct investment as part of its broader economic reform agenda and Vision 2030 strategy for sustainable development. 

Amid global headwinds and domestic economic challenges, the Egyptian government has launched several initiatives to deepen economic partnerships with major international players, notably the US.

One key milestone in this effort was the US–Egypt Policy Leaders Forum 2025, held in May, at which Madbouly announced that over 1,800 US companies are currently operating in the country, generating $47 billion in investments over the past two decades.

Discussing the latest Cabinet meeting, the Egyptian State Information Service reported that Madbouly “highlighted the government’s interest in supporting Egyptian-US relations in light of the strategic and historical ties between the two sides, noting the many opportunities for cooperation that could be exploited to support joint collaboration.”

The Egyptian prime minister added that his government is keen to remove all obstacles to joint cooperation, as well as to propose specific projects that will be discussed for collaboration in the upcoming period. 

During the gathering, Egypt’s Minister of Industry and Transport, Kamel Al-Wazir, reviewed investment opportunities presented to US companies in sectors such as ports, maritime transport, and industrial zones. 

Minister of Planning, Economic Development, and International Cooperation Rania El-Mashat outlined Egypt’s development cooperation efforts with the US, highlighting successful collaborative programs that contribute to the country’s development and further strengthen relations between the two sides.

At the conclusion of the meeting, Madbouly instructed all relevant authorities to coordinate on preparing a set of promising investment opportunities and to ensure they are presented to US companies, to boost foreign direct investment in Egypt.

Egypt, Germany in talks for €100m debt swap deal

In another major development, Al-Mashat announced that the country is in talks with Germany over a new debt swap agreement worth €100 million ($116.48 million), to be disbursed in two tranches. 

The first tranche is expected in December 2025 and the second in June 2026, according to the north African country’s State Information Service.

“These negotiations reflect the strength of Egyptian-German development cooperation and shared priorities in supporting sustainable development projects,” said Al-Mashat. 

According to Egypt’s Ministry of International Cooperation, the total value of debt swaps between Egypt and Germany would reach €340 million with this new agreement.