Analysis Finance Saudi Arabia demands more from global asset managers International asset managers looking to raise funds in Saudi Arabia can no longer do so as easily without establishing a presence in the kingdom and aligning their activities with the country’s Vision 2030 diversification goals, analysts say. Despite the kingdom’s commitment this year to invest and trade as much as $600 billion in the US […] June 9, 2025
Analysis Real Estate Medina plays catch-up to Mecca’s expansion Hajj pilgrims arriving at the Grand Mosque in Mecca this week will be the first in more than a decade to see a skyline free of construction cranes. Now that the long-delayed expansion of Islam’s holiest site is complete, the cranes that long dominated the area have been taken down. The renovations have doubled the […] June 4, 2025
Analysis Real Estate Saudi housing changes may stoke demand for smaller properties A decision to reduce the minimum age at which nationals receive support to buy houses is likely to increase the number of homeowners in Saudi Arabia but could push up the price for smaller properties such as apartments, which are already in high demand, analysts say. The amendment, which was approved by the cabinet on […] May 30, 2025
Oil & Gas Aramco defies oil slump with strong $5bn bond sale Saudi Aramco’s $5 billion bond sale on Tuesday saw spreads tighten, suggesting a strong market appetite for the company’s debt despite falling oil prices. The state-owned oil company sold bonds in three tranches. A 5-year issue, which was priced at 80bps over US treasury bonds, tightened from its original 115bps guidance. The spread of a […] May 28, 2025
Transport Chinese self-driving operator WeRide launches Saudi operations Autonomous driving company WeRide has announced plans to roll out driverless taxis in Saudi Arabia before the end of the year. It is already testing its flagship product the Robotaxi in Riyadh and the upmarket holiday resort of AlUla as well as “other core autonomous driving products”, WeRide said in a press release. The company […] May 28, 2025
Analysis Markets United Carton’s shares fall on Tadawul first day Shares in United Carton Industries Company fell on their debut in Riyadh on Tuesday, making it the only Saudi company this year to end its first day below its initial public offering price. UCIC closed at SAR49.25, 1.5 percent below the IPO price of SAR50, in the first Saudi listing since President Donald Trump‘s tariffs […] May 28, 2025
Analysis Oil & Gas US investors ‘would be first in line for any Aramco asset sale’ Asset sales could allow Saudi Aramco to maintain its capital expenditure plans and keep its government shareholders happy with dividends, analysts have said. The national oil company is reportedly looking for investors to buy stakes in its subsidiaries and infrastructure, with a particular focus on its $100 billion Jafurah gas field project, according to a […] May 27, 2025
Analysis Artificial Intelligence AI adoption could help meet ambitious Vision 2030 targets Construction companies in Saudi Arabia are increasingly looking to artificial intelligence to reduce waste and speed up delivery times, industry experts say. AI software is already in use in the country to help speed up the design and development of billions of dollars in projects. But increased adoption of cutting-edge technology is needed to meet […] May 26, 2025
Finance Franklin Templeton plans Saudi products with $5bn PIF agreement US asset manager Franklin Templeton says it plans to create and introduce financial products in Saudi Arabia that takes advantage of both international investor interest in the largest Arab economy as well as local appetite for global markets. This comes after the company agreed in principle last week with the Public Investment Fund (PIF) to […] May 22, 2025
Markets Saudi capital markets hit SAR1 trillion mark in 2024 The value of assets under management in Saudi capital markets surpassed SAR1 trillion for the first time last year. Their value was 21 percent higher than in 2023, according to the Capital Markets Authority’s annual report. It brings Saudi Arabia closer to achieving its Vision 2030 ambitions for the financial sector. Total assets under management […] May 21, 2025
Analysis Markets Saudi IPOs bounce back ‘quicker than expected’ Three initial public offerings launched in the past six weeks stand to raise close to $1.8 billion on the Saudi Exchange – nearly twice as much as the IPOs on the main market in the first quarter. This suggests the lull in Saudi IPOs that followed President Donald Trump’s “Liberation Day” announcement on April 2 […] May 20, 2025
Aviation Saudi’s air passenger numbers up, but off target Saudi Arabia recorded a 15 percent rise in air passenger numbers year on year in 2024, below the pace needed to achieve an ambitious target by 2030. Last year 128 million passengers travelled through the kingdom’s airports, according to the General Authority for Statistics. Of these, 69 million were international travellers, while 59 million were […] May 19, 2025
Trade Arms, investment and AI top list of deals on busy day for Trump Tens of billions of dollars in new partnerships between the US and Saudi Arabia were announced on Tuesday in Riyadh during the first day of President Donald Trump’s visit to the Gulf. Artificial intelligence, aviation, energy and defence dominated the flurry of deals, with the White House again touting that the kingdom will invest $600 […] May 14, 2025
Tourism Red Sea Global’s airport ‘racing towards completion’ Red Sea International Airport will be “fully operational” within “a couple of months”, according to an executive at Red Sea Global. The airport “is racing towards completion”, said Ben Edwards, group head of cost, commercial and procurement at the Saudi resort developer. “We’re gradually seeing the network of flight operations increasing as the demand in […] May 13, 2025
Tourism Best Western Hotels to increase Saudi footprint Best Western Hotels and Resorts plans to increase more than six-fold the number of hotels it operates in Saudi Arabia to tap a growing market in domestic and international business and leisure travel, the Arizona-based company said. BWH currently runs seven hotels, has 21 under development and is targeting as many as 45 by the […] May 12, 2025
Oil & Gas Aramco profits down – and worse is to come, say analysts Saudi Aramco announced a drop in net income for the first three months of the year on Sunday, due to rising oil prices and higher operating costs. With state and state-affiliated institutions dependent on the national oil company dividends to fund numerous Vision 2030 infrastructure projects, the downturn throws Aramco’s investment plans into doubt. Oil […] May 12, 2025
Tech Profits jump for PIF’s Elm digital services company Elm Company, a digital services company controlled by Saudi Arabia’s Public Investment Fund, said first-quarter profit surged more than 40 percent on higher sales. Net profit in the three months to March 31 jumped to SAR495 million ($132 million), the company said in a statement to the Saudi stock exchange, where 30 percent of its […] May 9, 2025
Tourism Saudi smaller cities could give best return on investments Growth in the hospitality sector of the Middle East and North Africa has outpaced that of other regions, driven by expansion in Saudi Arabia’s tourism market. The kingdom, which has increased its annual tourism target from 100 million to 150 million visitors by 2030, is undertaking a country-wide $110 billion dollar investment drive. While the […] May 9, 2025
Renewable Energy Acwa Power reports record revenue and profit surge Saudi Arabian energy company Acwa Power posted record revenue in the first quarter from higher returns on operations and development services as well as electricity and water sales. Revenue jumped almost 60 percent to SAR1.97 billion, the publicly listed company said in a statement to the Saudi stock exchange. This helped to underpin a 44 […] May 9, 2025
Analysis Tourism Riyadh wants the world to visit the ‘Arabian Highlands’ of Aseer The streets of Abha become festooned with lilacs and mauves throughout May, when the city’s 25,000 jacaranda trees come into bloom. Pockets of purple burst throughout the hilltop capital of the southern province of Aseer, bringing an increasing number of tourists. Aseer’s botanical diversity has helped it become the fastest growing tourism prospect in Saudi […] May 8, 2025
Analysis Economy Saudi Arabia to ‘roll with the punches’ on oil price Saudi Arabia may have to tighten its reins on spending on the back of a decline in international oil prices, analysts have said. The country’s first-quarter budget deficit of SAR59 billion ($16 billion), reported this week, was the biggest in three years. “A deficit was broadly expected, says Monica Malik, chief economist at Abu Dhabi Commercial […] May 7, 2025
Analysis Health Digital health innovators expand in Saudi Arabia A fast-growing population with high rates of lifestyle diseases is making Saudi Arabia an attractive market for healthcare providers. The median age is steadily increasing while the prevalence of hypertension and diabetes remains high. “All these conditions necessitate medical intervention,” says Tara Rampal, founder of Quest Prehab, a London-based company that provides “prehabilitation” services through […] May 6, 2025
