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Neom is a planned smart city in the north west of Saudi Arabia. It is one of the kingdom's giga-projects and will include The Line, a 170km long city built in a straight line

Sphere, Architecture, Building

Renewable energy desalination is the way forward for GCC states

Projects in the Middle East are seeking to increase their use of renewable energy desalination amid criticism of the traditional process as being high-cost and energy-intensive. The Mena region is expected to add an estimated 20GW of solar capacity and 5-6GW of wind by 2025, and the use of these sources is increasingly coming to […]

Woman, Adult, Female, Male

UK companies set their sights on $22bn Saudi events sector

Major UK firms are targeting the Saudi events sector for growth as the Gulf kingdom continues to build its reputation as a global destination. Saudi’s Ministry of Investment recently welcomed a delegation of 25 British sports events companies to explore investment opportunities. The ministry, together with the Ministry of Sports, signed cooperation agreements with ES […]

Aircraft, Airplane, Transportation

Saudi Arabia launches second new airline

Saudi Arabia has announced its second new airline in a matter of weeks with the launch of Neom Airlines. The carrier will solely serve the $500 billion Neom city in the north west of the kingdom. The first flights for tourists, residents and commercial partners are scheduled to take off in the fourth quarter of […]

Saudi Arabia's investment minister Khalid Abdulaziz Al Falih has returned from a trade mission to Germany where the countries discussed hydrogen collaboration

‘Huge potential’ for Germany and Saudi to collaborate on hydrogen

Top-level talks have taken place in Germany to boost trade and investment with Saudi Arabia, as experts describe the potential for collaboration on producing cost-competitive hydrogen as “huge”. As the world seeks cleaner energy solutions to meet net zero climate targets, analysts say the two countries have the resources, infrastructure and skills to build on […]

Knight Frank's survey found that Neom was the No 1 target for wealthy property investors

Saudi families pause plans to buy property as villa prices rocket

Rising home prices are forcing Saudi families to pause plans to get on the property ladder, according to real estate consultancy Knight Frank. The agency’s Saudi Report 2023, which is based on a survey of 1,014 Saudi-national households, found that only 40 percent of tenants were keen to buy a home this year, down from […]

Hotel group Marriott has presented a vision for its properties on luxury island Sindalah

Saudi tourism appeal growing ‘at the speed of light’

Saudi Arabia’s tourism sector is growing “at the speed of light”, a senior official said as the Gulf kingdom made its debut at the Berlin travel show. According to Fahd Hamidaddin, CEO of Saudi Tourism Authority, the country recorded a total of 93.5 million domestic and international visits last year as it transforms “at a […]

Saudi Arabia's long list of mega-projects is taking up much of the construction capacity in the country, giving Ardco a hurdle to overcome

Ardco’s $1.6bn vision blurred by Saudi mega-projects

A slowdown in residential property demand and construction capacity issues due to Saudi Arabia’s bulging projects pipeline will be among some of the challenges facing Ardco, the latest player to the Riyadh property market and development scene, experts said. Ardco, which is also known as the Riyadh Development Company, announced last month it is becoming […]

The project is a key part of Saudi Arabia’s ambitions to become the world’s leading hydrogen producer

$8.5bn funding deals signed for Saudi green hydrogen project

Agreements have been finalised and signed to fund the world’s largest green hydrogen production facility, which will be built in Saudi Arabia with a total investment of $8.5 billion. Acwa Power announced on Wednesday in a filing to the Saudi Stock Exchange that the Neom Green Hydrogen Project will be funded by a combination of […]

Aquaculture is part of Saudi Arabia's Vision 2030 programme to diversify its economy

Baiting the hook to develop Saudi’s aquaculture industry

Aquaculture – farming in water – is the world’s fastest-growing food sector, accounting for more than half of global seafood supply. For Saudi Arabia, eager to bolster its food security and to build non-oil exports, this is an opportunity. On February 12, Arabian Agricultural Services Company (Arasco) signed an agreement with Neom Food and Cargill, […]

Saudi Crown Prince Mohammed bin Salman launched The Line last year, one of several giga-projects increasing the value of construction contract awards

Value of Saudi project contracts doubled to $24.6bn in 2022

The value of giga-project related contracts awarded in Saudi Arabia in 2022 grew by 103 percent to $24.6 billion from $12 billion the previous year. As the kingdom accelerates activity towards achieving its Vision 2030 economic diversification goals, Neom saw the highest number and value of awarded contracts, especially on infrastructure works on The Line. […]

The Line aims to eventually accommodate 9 million people on a footprint of 34 square kilometers

Saudi is ‘leading light’ as construction sector booms

Construction activity in Saudi Arabia was the highest in the world in the final quarter of 2022, with the kingdom described as a “leading light in the Mena region and globally”. A new report by the Construction Activity Index of the Royal Institution of Chartered Surveyors (Rics) revealed that the 12-month projected profit margins of […]

hydrogen, tank

Licence issued for world’s largest green hydrogen plant in Saudi

The first industrial operating licence has been issued for Neom Green Hydrogen Company (NGHC), which aims to run the world’s largest production facility of its kind. Saudi Arabia’s Ministry of Industry and Mineral Resources announced on Wednesday that the licence has been granted to NGHC, a joint venture between Neom, Acwa Power and Air Products. […]

GCC construction contracts

Gulf project contracts to hit $110bn this year

A combined $110 billion worth of project contracts are expected to be awarded in the GCC this year, with Saudi Arabia accounting for more than half of the total as it ramps up its Vision 2030 economic diversification plans.  Saudi Arabia make up $64 billion of the combined value, followed by the UAE ($23 billion), […]

UK’s Yotel to open first hotel in Neom’s Oxagon in 2025

Oxagon, the home of advanced and clean industries in the $500 billion Neom megacity, will be home to the first Yotel hotel in Saudi Arabia. The UK-based hotel operator Yotel said in a statement the 300-key property will be located in the integrated live-work-play Research and Innovation (R&I) district and is set to open in 2025. The […]

Solar panels power the International Space Station. Governments and space agencies are now studying the feasibility of providing Earth with clean energy from space

UK and Saudi eye investments in space-based solar power

The UK and Saudi governments are exploring closer collaboration to invest in what could be the next era of renewable energy: space-based solar power. Grant Shapps, Britain’s business and energy secretary, met Abdullah Al Swaha, chairman of the Saudi Space Commission and minister of communications and information technology, for talks last week. A potential collaboration […]

green hydrogen

GCC poised for starring role in global hydrogen market

The GCC is set to play a key role in the global hydrogen market, with the UAE, Saudi Arabia and Oman looking to become leaders in the export of clean fuel. As industry experts come together in Abu Dhabi this week for the World Future Energy Summit, a report from Frost & Sullivan paints a […]

Neom signs Singapore’s GHM to manage new hotel in Trojena

Singapore-based General Hotel Management Ltd (GHM) has signed an agreement with Neom Hotel Development to manage “The Chedi Trojena” in the Saudi giga project. GHM is the second hotel partner for Trojena – a new mountain destination and host venue of the 2029 Asian Winter Games – the company said in a statement. The Chedi Trojena […]

Infrastructure was among the non-oil sectors that saw a year-on-year increase in Mena revenue generated by FTSE-listed companies

Why the Middle East is now a ‘must’ for top UK companies

The Middle East’s contribution to revenues of major UK-listed companies is predicted to rise to record levels in 2023 on the back of an acceleration in green energy, industrials and infrastructure sectors. Lumina Capital Advisers report that money generated from the region this year will deliver an additional £1.6 billion ($1.9 billion) to UK Plc […]

At-Turaif is a UNESCO-listed site, founded in the 15th century

Saudi Arabia adds Diriyah to PIF’s gigaproject portfolio

Saudi Arabia has added Diriyah project to the portfolio of its sovereign wealth fund, Public Investment Fund (PIF), state-owned SPA news agency reported, citing an announcement by Crown Prince Mohammad bin Salman. PIF’s gigaprojects portfolio includes Neom, Red Sea, Qiddiya and Roshn. The Diriyah gigaproject is expected to create partnerships with the local private sector, […]

Saudi’s Neom signs agreements to fund green hydrogen project

Neom Green Hydrogen Company (NGHC) has signed facility agreements with local, regional and international banks and completed a commitment letter with the Saudi Industrial Development Fund (SIDF) for the $5 billion green hydrogen production facility in the Neom mega project.  The financing for the world’s largest green hydrogen production facility is structured with significant participation […]