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
The five new premium residency products offer a wide range of benefits to holders, including the ability to conduct business and own real estate properties
The kingdom’s venture capital market was boosted by the government’s focus on innovation, a dedicated unicorn project, and investments from sovereign funds
The agreement outlines the collaboration between the two entities to develop modern technologies in the energy sector
Big-ticket purchases included $4.9bn for US gaming company Scopely, $3.6bn to buy Standard Chartered’s aircraft leasing division and $3.3bn for steelmaker Hadeed
Located on the coastline of the Gulf of Aqaba, the lifestyle community will have a 120-berth marina that will serve as an international hub for superyachts
The authority signed the contracts with Zamil Marine Services and Naghi Marine Company to provide diverse maritime services
Set to be built along the Gulf of Aqaba, Utamo, is crafted as an immersive destination for art and entertainment
The company will spearhead the kingdom’s efforts to ensure food security, mitigate climate change and achieve net-zero emissions by 2060
Qiddiya City expects to attract an anticipated 48 million visits per year with its never-built-before array of world-class attractions and venues
The budget estimates expenditures of SAR1.3tn in 2024 and total revenues of SAR1.2tn
The Saudi Tourism authorities hope to match visitor numbers to previous years which saw between 12 to 15 million tourists visit the annual festival
Some companies have raised concerns over the regulatory framework, including taxation