The ongoing transformation is being driven by Vision 2030, which aims to deliver more than 660,000 residential units and over 320,000 hotel keys
Nasser has become highly popular at Aramco, by promoting a decentralised culture and spending time with both leaders and workers, as per analysts tracking the oil giant’s growth
The kingdom is turning to the debt market to find alternative funding sources to cover an anticipated fiscal shortfall of about $21bn this year
Neo Space Group will invest in local and international assets and capabilities, as well as venture capital opportunities
The strategy will see the company increase the number of its 5G network sites in the country to more than 7,000
The move is in line with the strategy to establish an entertainment, sports and culture powerhouse in the kingdom
The partnership seeks to implement and activate joint initiatives to advance research, deliver innovation and enhance the visitor experience
Oil revenues reached SAR181.9bn, while total revenues were SAR293.4bn as non-oil revenues edged higher, although oil still dominates
John Pagano tells Gulf Business how “nature and the environment”, the most valuable assets on the company’s balance sheet, differentiate RSG from other destinations
The facility will support NEOM’s short-term financing requirements as it advances the development of major projects such as THE LINE
Saudi Arabia is accelerating efforts to diversify its economy away from oil under a plan known as Vision 2030
Clients will have a wide choice of investment solutions across asset classes, including the investment management firm’s $256bn global alternatives platform
The new warehouse in Saudi Arabia would service the Middle East, North and East Africa regions
The strategy, which envisions investments in supply chain and tech capabilities, will be financed from the company’s operating cash flow
The latest data shows that the economy contracted by 4.3 per cent in Q4 2023 after a 16.2 per cent year-on-year decrease in oil activities
The fund has held a 4 per cent stake in Aramco since 2022 and indirectly holds another 4 per cent that was transferred last year to Sanabil
The new region will consist of three availability zones at launch, adding to the existing 105 zones across 33 geographic regions globally
PIF-owned Alat aims to create a world-class manufacturing electronics hub in the heart of Saudi Arabia
Michael Champion says the move to a larger venue for LEAP in 2024, reflects the event’s commitment to accommodate more innovative technologies, digital entrepreneurs and tech startups
Raffles Trojena, the newest hospitality brand to partner with NEOM Hotel Division, will be located in the Discover cluster
Non-oil GDP grew 4.6 per cent in 2023, while overall GDP contracted 0.9 per cent
The group GCEO tells us that ROSHN is a catalyst for economic growth and diversification in addition to raising homeownership rates in the country
Sovereign funds in the GCC region are key to their respective governments’ national development plans and contribute to deploying national wealth in strategic sectors of interest
The government had estimated a deficit of SAR82bn in its December budget statement and is forecasting a deficit of SAR79bn in 2024
The financing will be used to support Red Sea Global’s joint venture with Kingdom Holding Company to develop the Four Seasons Resort
The government has lined up Citigroup, Goldman Sachs and HSBC for the sale, which could take place in the second or third quarter of this year
With its untouched seafront location, Xaynor will offer club members an opportunity to escape the hustle and bustle of city life, and recharge in a secluded, exclusive environment
The kingdom aims to attract 150 million tourists by 2030, with 80 million domestic and 70 million international tourists
The state-owned carrier operated 176,300 flights while transit flights registered 77 per cent growth compared to the year 2019
PIF-backed ROSHN’s group CEO tells us how the company is delivering on Saudi Vision 2030’s goals by building over 400,000 homes by 2030