Former Prime Minister Saad Hariri is currently
facing a new financial crisis, since his main financial source, “Saudi Oger”
company, witnessed an economic slowdown after two residential projects for the
Saudi Interior Ministry were removed from its agenda. The projects “Cap 1” and “Cap
2” were worth six billion dollars.
Councils familiar with Hariri’s financial affairs
stressed that the projects are under discussions, but “Saudi Oger” has not yet lost
hope in taking them back.
Despite the positive atmosphere, “a black
future” is looming in Saudi Oger’s horizon, since it became almost excluded
from the implementation of public transportation project in the city of Riyadh.
The company would have gained 13 billion dollars from this project.
In this context, sources close to the Future
Movement stressed that what is happening with the company in Saudi Arabia does
not hold any political messages, but it is just an alarm to warn the company
against technical issues.
The financial decline of Hariri’s companies
continues, clearly affecting its activity in Beirut in general, and within the Future
Movement in particular. Accordingly, the Future Movement’s headquarter in
Spears Street witnessed last week a sit-in held by the employees dismissed from
the movement, calling for the payment of their compensations. This has led
Hariri to personally call the protesters through a speaker phone and ask them
to end their sit-in, promising them to pay all the dues within days.
Hariri’s advisers were able to set up a
financial mechanism to pay the wages the current employees, after reducing the
budget of a number of sectors, such as the media department.
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