Saudi Mortgage Boom, Women's Empowerment in STEM, and Global Peace Efforts: A Week of Transformative Developments
Saudi housing market surges amid Vision 2030; calls for Gaza ceasefire intensify at UN.
To kick things off, Saudi Arabia's residential market is experiencing a boom in mortgage activity with significant expansions in housing supply in Riyadh and Jeddah. Despite rising land and construction costs, these cities are seeing notable increases in sale prices and rental rates, supporting the ambitious urban development goals of the Saudi Vision 2030.
Meanwhile, the Saudi Stock Market saw a dip as the Tadawul All Share Index dropped 33 points amid selling pressures in the banking sector. Trading values spiked, with foreign investors making strategic shifts, decreasing their ownership in many securities but increasing their stake in others, particularly in real estate traded funds.
In a stride towards gender equality in STEM, the International Atomic Energy Agency has partnered with Saudi Arabia's Women and Energy Association to empower women in nuclear science and innovation. This new memorandum of understanding aims to foster sustainable development within the nuclear sciences sector, marking another step forward in global cooperation.
Art enthusiasts will be pleased to know that Riyadh is hosting its inaugural Muntada Forum of Contemporary Art Practices. This gathering features 24 creatives who are delving into themes such as Saudi Arabia's global image and youth culture, providing a rich tapestry of contemporary art that reflects a time of change.
On the diplomatic front, Palestinian President Mahmud Abbas is set to discuss peace efforts with Spanish leaders in Madrid following Spain's recognition of a Palestinian state. This dialogue is part of a broader effort to encourage more European nations to recognize Palestine and bolster peace initiatives globally.
Lastly, at the United Nations, there are urgent calls for a ceasefire and increased humanitarian aid in Gaza as senior UN official Sigrid Kaag described the lack of civilian protections as "unconscionable." Efforts continue to deliver aid despite political and security challenges, highlighting the dire need for international collaboration in this crisis.
Meanwhile, the Saudi Stock Market saw a dip as the Tadawul All Share Index dropped 33 points amid selling pressures in the banking sector. Trading values spiked, with foreign investors making strategic shifts, decreasing their ownership in many securities but increasing their stake in others, particularly in real estate traded funds.
In a stride towards gender equality in STEM, the International Atomic Energy Agency has partnered with Saudi Arabia's Women and Energy Association to empower women in nuclear science and innovation. This new memorandum of understanding aims to foster sustainable development within the nuclear sciences sector, marking another step forward in global cooperation.
Art enthusiasts will be pleased to know that Riyadh is hosting its inaugural Muntada Forum of Contemporary Art Practices. This gathering features 24 creatives who are delving into themes such as Saudi Arabia's global image and youth culture, providing a rich tapestry of contemporary art that reflects a time of change.
On the diplomatic front, Palestinian President Mahmud Abbas is set to discuss peace efforts with Spanish leaders in Madrid following Spain's recognition of a Palestinian state. This dialogue is part of a broader effort to encourage more European nations to recognize Palestine and bolster peace initiatives globally.
Lastly, at the United Nations, there are urgent calls for a ceasefire and increased humanitarian aid in Gaza as senior UN official Sigrid Kaag described the lack of civilian protections as "unconscionable." Efforts continue to deliver aid despite political and security challenges, highlighting the dire need for international collaboration in this crisis.
