#Vision 2030

Diriyah awards $2bn contract for mixed-use district

Saudi Arabia’s Diriyah awards $2bn contract for mixed-use district

The contract was awarded to a joint venture to build educational institutions, cultural venues, offices and a luxury hotel

Saudi Arabia’s PIF swings to $36.8bn profit in 2023

Saudi Arabia’s wealth fund PIF swings to $36.8bn profit in 2023

Under Vision 2030, Saudi Arabia has poured hundreds of billions of dollars through the fund into projects, including NEOM

Saudi Arabia’s construction output value to hit $181.5bn by 2028

Saudi Arabia’s construction output value to hit $181.5bn by 2028, Knight Frank says

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

Amin-Nasser Aramco CEO

Saudi Aramco’s Amin Nasser: Homegrown engineer who reached the top

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

Saudi Arabia reportedly sells $5bn sukuk to plug deficit

Saudi Arabia issues $5bn in dollar-denominated sukuk, says report

The kingdom is turning to the debt market to find alternative funding sources to cover an anticipated fiscal shortfall of about $21bn this year

PIF launches satellite and space company

Saudi Arabia’s PIF sets up company to boost space sector

Neo Space Group will invest in local and international assets and capabilities, as well as venture capital opportunities

Zain KSA to invest SAR1.6bn to expand 5G network in Saudi Arabia

Zain KSA to invest SAR1.6bn to expand 5G network in Saudi Arabia

The strategy will see the company increase the number of its 5G network sites in the country to more than 7,000

Qiddiya, SEVEN merge to boost Saudi entertainment sector

Saudi Arabia’s Qiddiya merges with SEVEN to boost entertainment sector

The move is in line with the strategy to establish an entertainment, sports and culture powerhouse in the kingdom

NEOM, Saudi Red Sea Authority sign marine tourism MoU

NEOM, Saudi Red Sea Authority to formulate marine tourism regulations

The partnership seeks to implement and activate joint initiatives to advance research, deliver innovation and enhance the visitor experience

Saudi Arabia posts SAR12.4bn deficit Q1 2024

Saudi Arabia posts budget deficit of SAR12.4bn in Q1 2024

Oil revenues reached SAR181.9bn, while total revenues were SAR293.4bn as non-oil revenues edged higher, although oil still dominates

How Red Sea Global is delivering Saudi tourism

Red Sea Global’s CEO shares how the firm is delivering on Saudi’s tourism agenda

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

Saudi Arabia’s NEOM secures $2.7bn syndicated loan

Saudi Arabia’s NEOM secures $2.7bn syndicated loan

The facility will support NEOM’s short-term financing requirements as it advances the development of major projects such as THE LINE

saudi arabia - Vision 2030

Saudi Arabia’s Vision 2030 projects to be adjusted as needed: Finance Minister

Saudi Arabia is accelerating efforts to diversify its economy away from oil under a plan known as Vision 2030

Franklin Templeton expands global reach with Saudi Arabia office

Franklin Templeton opens in Saudi Arabia with key hires to tap deals

Clients will have a wide choice of investment solutions across asset classes, including the investment management firm’s $256bn global alternatives platform

LME to list Jeddah port as a delivery point

LME to list Saudi Arabia’s Jeddah port as delivery point for copper, zinc

The new warehouse in Saudi Arabia would service the Middle East, North and East Africa regions

Almarai to invest over SAR18bn under five-year plan

Saudi Arabia’s Almarai to invest over SAR18bn under five-year plan

The strategy, which envisions investments in supply chain and tech capabilities, will be financed from the company’s operating cash flow

Saudi Arabia’s real GDP contracts 0.8% in 2023

Saudi Arabia’s real GDP shrinks 0.8% in 2023, oil sector weighs

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

Saudi Arabia transfers 8% Aramco stake to PIF

Saudi Arabia doubles sovereign fund’s stake in Aramco

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

AWS to invest $5.3 bn in Saudi Arabia, open data centres

AWS unveils $5.3bn investment to advance Saudi Arabia’s cloud infrastructure

The new region will consist of three availability zones at launch, adding to the existing 105 zones across 33 geographic regions globally

Building a Saudi Arabian Silicon Oasis

PIF-owned Alat aims to create a world-class manufacturing electronics hub in the heart of Saudi Arabia

How LEAP 2024 aligns with Saudi Arabia’s Vision 2030

Tahaluf’s CEO shines the spotlight on LEAP 2024

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 Hotels & Resorts to debut at NEOM’s Trojena

Raffles Hotels & Resorts set to debut on this NEOM island

Raffles Trojena, the newest hospitality brand to partner with NEOM Hotel Division, will be located in the Discover cluster

saudi arabia - Vision 2030

Saudi finance minister expects above 5% non-oil growth

Non-oil GDP grew 4.6 per cent in 2023, while overall GDP contracted 0.9 per cent

ROSHN’s group CEO on transforming Saudi living

ROSHN CEO David Grover on transforming Saudi’s housing sector

The group GCEO tells us that ROSHN is a catalyst for economic growth and diversification in addition to raising homeownership rates in the country

How GCC sovereign funds are accelerating growth

Why GCC wealth funds are becoming engines of regional growth

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

Saudi Arabia posts 2023 budget deficit of $22bn

Saudi Arabia posts 2023 budget deficit of $22bn

The government had estimated a deficit of SAR82bn in its December budget statement and is forecasting a deficit of SAR79bn in 2024

Red Sea Global gets SAR2bn financing from Riyad Bank

Saudi Arabia’s Red Sea Global secures SAR2bn debt financing

The financing will be used to support Red Sea Global’s joint venture with Kingdom Holding Company to develop the Four Seasons Resort

Saudi Aramco lines up banks for potential share sale

Saudi Arabia poised for new Aramco share sale: Report

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

neom - xaynor

NEOM launches members-only club Xaynor

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

Saudi Arabia visitors cross 100 million

Saudi Arabia visited by 100 million tourists in 2023

The kingdom aims to attract 150 million tourists by 2030, with 80 million domestic and 70 million international tourists