{"id":515698,"date":"2022-08-22T09:32:47","date_gmt":"2022-08-22T04:02:47","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=515698"},"modified":"2022-08-22T10:02:35","modified_gmt":"2022-08-22T04:32:35","slug":"saudi-arabias-economy-is-booming-and-this-time-it-isnt-only-about-oil","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/saudi-arabias-economy-is-booming-and-this-time-it-isnt-only-about-oil\/","title":{"rendered":"Saudi Arabia&#8217;s economy is booming and this time it isn&#8217;t only about oil"},"content":{"rendered":"<p>The more than 300 apartments in Abdulsalam Almajed\u2019s new Riyadh complex sold in just a month for cash, without him even having to advertise.<br \/>\nThis is Saudi Arabia, the world\u2019s biggest exporter of oil, so it\u2019s no surprise the property market is red-hot as income from a spike in energy prices flows through the economy.<\/p>\n<p>But Almajed says the scramble for the 1-million-riyal ($266,400) homes reflects something else, too: the social and economic shift that\u2019s reshaping the kingdom, accelerated by the crown prince\u2019s overhaul program.<\/p>\n<p>\u201cThere\u2019s a change in mindset,\u201d said Almajed, who heads family-owned developer Almajdiah Residence, as some Saudis embrace the more open style of living his firm caters to. \u201cToday there\u2019s beautiful creativity in Saudi designs.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The more than 300 apartments in Abdulsalam Almajed\u2019s new Riyadh complex sold in just a month for cash, without him even having to advertise. This is Saudi Arabia, the world\u2019s biggest exporter of oil, so it\u2019s no surprise the property market is red-hot as income from a spike in energy prices flows through the economy. But Almajed says the scramble for the 1-million-riyal ($266,400) homes reflects something else, too: the social and economic shift that\u2019s reshaping the kingdom, accelerated by the crown prince\u2019s overhaul program. \u201cThere\u2019s a change in mindset,\u201d said Almajed, who heads family-owned developer Almajdiah Residence, as some [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-515698","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/515698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=515698"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/515698\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=515698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=515698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=515698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}