SAUDI ARABIA The kingdom aims to win investment in airports as its seeks to revive an aviation industry that’s been dwarfed by competitors in nearby Dubai and Qatar. Picture: GALLO IMAGES/AFP
SAUDI ARABIA The kingdom aims to win investment in airports as its seeks to revive an aviation industry that’s been dwarfed by competitors in nearby Dubai and Qatar. Picture: GALLO IMAGES/AFP

Saudi wealth fund to take over airports

Saudi Arabia will transfer airports to its sovereign wealth fund by mid-2018 as part of a nationwide privatisation drive spurred by low oil prices. Airports will be turned into companies before being handed over to the Public Investment Fund to help improve accountability, said Faisal al-Sugair, chairman of the Saudi Civil Aviation Holding Co. Bloomberg

London property market on the low

London home values grew at their slowest annual rate in almost five years in February as values fell in the capital’s most expensive boroughs, including Camden, Kensington and Chelsea, according to Acadata and LSL Property Services Plc. Prices across the city rose just 0.1% on the month to an average £606,780, the groups said in a report. That left the annual gain at 1.5%, the weakest reading since April 2012. The data adds to evidence that suggests London’s housing market is increasingly split along value lines, with the capital’s most expensive areas posting declines and the lowest-priced areas gaining. Bloomberg

Please login or register to comment.