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Saudi Arabia Vision 2030

The Saudi facilities management market is expected to grow at a 10 percent compound annual growth rate, expanding to about $56 billion by 2032

AlMajal AlArabi considers listing on Saudi Arabia’s Tadawul

Saudi Arabia’s AlMajal AlArabi Group (MAG) is considering an initial public offering on the Tadawul main market and has appointed Riyad Capital as an adviser, people familiar with the plans told AGBI. The Riyadh-based facilities management and construction company is exploring a share sale as Saudi Arabia’s infrastructure and services sectors expands, driven by multi-billion-dollar […]

US President Donald Trump makes a special address remotely during the 55th annual World Economic Forum (WEF) meeting in Davos on January 23

Oil slips after Trump calls on Opec to lower prices

Oil prices were down on Friday after US President Donald Trump drew a direct link between persistently high inflation and global oil prices during video remarks before the World Economic Forum in Davos, Switzerland.  Trump said he intends to address the problem by boosting domestic production and by asking “Saudi Arabia and Opec to bring […]

Yasir Al-Rumayyan, the governor of PIF, which sold bonds on Wednesday reportedly with maturities of five years and nine-and-a-half years

PIF’s $4bn bond sale is four-times oversubscribed

Saudi Arabia’s Public Investment Fund (PIF) sold $4 billion of bonds on Wednesday in a sale that was four times oversubscribed. It marks the latest big Saudi debt sale this year, coming just two weeks after the kingdom raised $12 billion from a sovereign bond sale that was three times oversubscribed. On January 6 PIF […]

SMC Healthcare will continue to focus on hospital expansion in Riyadh, driven by the capital's rapid population growth

SMC Healthcare expects swift profitability from new hospitals

SMC Healthcare is building three new hospitals in Riyadh that should break even within three to four years, the Saudi company’s chief executive, Bassam Chahine, has told AGBI. The three hospitals will more than double SMC’s bed count to about 1,200 as it seeks to address healthcare supply shortfalls in the kingdom. Saudi Arabia requires […]

Saudi Crown Prince Mohammed bin Salman and President Donald Trump during the latter's first term. An expectant Saudi Arabia is prepared to face the challenges and opportunities of his second

Trump inauguration: Saudi Arabia comes into focus

Saudi Arabia looms large as Donald Trump moves back into the White House for a second term as US president, and there are many opportunities for cooperation along with significant challenges. Since Trump was first elected in 2016, one would be “hard pressed” to name a more changed nation than Saudi Arabia, according to Richard […]

Saudi Arabia biotech

Saudi Arabia’s biotech push fuels specialised consulting demand

High demand for expert consulting Lack of industry-specific knowledge Limited local talent pools Saudi Arabia’s push to become a regional biotechnology hub is fuelling demand for specialised consulting services, as it navigates the chal... Register now: It’s easy and free This content is available for registered members only. Register for your free account today for […]

Halo AI uses 'agentic' AI to connect influencers with brands

Saudi networking platform Halo AI secures $6m funding

Saudi networking platform Halo AI has secured $6 million in seed funding to expand globally in a funding round led by Raed Ventures and Shorooq Partners, highlighting the Gulf region’s enthusiasm for artificial intelligence. Halo AI seeks to connect content creators and brands using highly autonomous or “agentic” AI technology developed by tech leaders such […]

Workers constructing an ethane tank - a rise in prices of ethane and other fuels could help balance Saudi Arabia's Vision 2030 budget

Rising fuel and feedstock prices could fund Vision 2030

Higher feedstock and fuel prices introduced in Saudi Arabia are likely to play a part in funding the kingdom’s trillion-dollar Vision 2030 programme, according to a leading ratings agency. From the start of the month, the price of methane, the main component of natural gas and commonly used as a fuel in cement kilns, rose […]

Roshn says trust in Saudi Arabia's centralised digital ID verification system is helping online home sales

Saudis sold on online home sales, says developer Roshn

Saudi developer Roshn, a unit of the Public Investment Fund (PIF), said half of its home sales are now made online, marking a significant shift in the kingdom’s property market. Buyers on Roshn’s platform can verify their identity using national digital IDs, sign contracts electronically and make payments online, streamlining a process that traditionally required […]

Mohammed Al-Jadaan, Saudi Arabia's minister of finance, has said the government aims to expand strategic spending this year on development and giga-projects murabaha

Saudi Arabia’s PIF secures $7bn investment financing

Saudi Arabia’s Public Investment Fund (PIF) has raised $7 billion to finance future investments.  The fund’s murabaha credit facility – a common Islamic financing tool in which buyer and seller agree to cost and markup of an asset – was supported by a syndicate of 20 international and regional financial institutions, PIF said in a statement.  […]

Neom's Jaumur resort. Saudi Arabia aims to expand strategic spending through 2025 on development and giga-projects

Saudi Arabia estimates 2025 budget funding at $37bn

Saudi Arabia will need estimated funding of SAR139 billion ($37.02 billion) in 2025 to cover the potential budget deficit. Finance minister Mohammed Al Jadaan has approved the borrowing plan, the National Debt Management Cente said in a statement. The ministry anticipates a budget deficit of SAR101 billion for the year, with nearly SAR38 billion of […]

Saudi Arabia is targeting a 70% rate of home ownership by the end of the decade

Saudi Arabia embraces mortgage-backed securities

Saudi officials have signed a preliminary deal this week to issue residential mortgage-backed securities, a first for the Gulf. The Saudi Real Estate Refinance Company (SRC), which is owned by the Public Investment Fund (PIF), and the Hassana Investment Company, which manages the assets of the national social security and pension fund, signed the memorandum […]

Saudi gap 2025: Construction in Riyadh. Saudi Arabia's Vision 2030 programme is contributing to its budget deficit

Saudi 2025 fiscal gap forecast could widen further

Saudi Arabia has assumed a deficit of nearly $27 billion in its 2025 budget but the actual gap is likely to widen by the end of the year, experts predict. When the world’s largest oil exporter announced the draft budget in September and then endorsed it in late November, it was expecting more oil earnings […]

The archaeological site of Al Hijr, near AlUla. Gamal Sharaf says Saudi Arabia’s long-term investment appeal remains robust thanks to substantial government investment in its giga-projects

Saudi Arabia’s FDI inflows fall 21%, putting 2024 target in doubt

Foreign direct investment into Saudi Arabia has fallen 21 percent year on year, according to the country’s statistics agency. In the third quarter of 2024, Saudi Arabia recorded SAR18 billion ($4.8 billion) of FDI inflows, compared to SAR22.6 billion in the third quarter of 2023, the General Authority for Statistics said. FDI inflows were also […]

Volocopter CEO Dirk Hoke expects funds to be found, saying his is 'an attractive company to invest in' while it restructures

Neom’s air taxi partner Volocopter files for insolvency

Volocopter, the German air taxi developer backed by Saudi Arabia’s Neom giga-project, has filed for insolvency, blaming difficulties in securing fresh funding. The company, whose high-profile backers include Mercedes-Benz, Honeywell, Daimler, Intel and Mitsui Sumitomo Insurance Group, said its operations would continue during the insolvency proceedings as it seeks new investors. The insolvency raises concerns […]