Saudi Arabia

Saudi Arabia approves FY2025 budget, forecasts $315.2 billion in revenues

The approved state general expenditures amount to SAR1.285 trillion ($342.07 billion)

Saudi Arabia sets world record for largest food cluster with $5.3 billion investment to create 43,000 jobs by 2035

Over the next ten years, the Jeddah Food Cluster is expected to contribute SAR8 billion to national exports and add SAR7 billion to the nation's GDP

Saudi Arabia tops Arab region in quality infrastructure rankings, climbs 25 spots globally

The Kingdom ranked 20th globally in the Quality Infrastructure for Sustainable Development Index (QI4SD) 2024

Riyadh Season draws 8 million visitors so far, setting new record

This growth stems from the diverse events and entertainment options that have sparked significant interest

Saudi Arabia’s entertainment sector to create 450,000 jobs by 2030: Report

The sector reported several record highs in the last five years, including attracting over SAR1 billion in total revenues and over 75 million event attendees

How is the GCC region driving tourism growth? Mega-projects, coastal developments and unified visa in focus

In 2024, the projected revenue for the GCC region's travel market is estimated to be $8.08 billion

Global spending on AI reaches over $120 billion in 2023: SDAIA

SDAIA Director of National Information Center noted that over 72 percent of organizations use AI for operational excellence

flynas to launch three direct flights between Madinah and Cairo’s Sphinx airport

flynas connects Egypt to Saudi Arabia with more than 120 weekly direct flights from five Saudi cities

Abu Dhabi’s TAQA, JERA and Al Bawani to develop two new highly efficient power plants in Saudi Arabia

These agreements will enable two new CCGT projects in Saudi Arabia with over 3.6 gigawatts capacity 

Saudi Arabia’s crude oil exports hit three-month high in September

Saudi Arabia's oil production fell to 8.975 million bpd from 8.992 million bpd in August

DXB welcomes 68.6 million travelers in nine months, up 6.3 percent over last year

In Q3, over 111,300 flights were managed, totaling 327,700 flight movements for the first nine months

EFG Hermes launches $300 million Saudi Education Fund, acquires Britus Education portfolio of 7 schools

After having created the leading K-12 operator in Egypt, EFG Hermes aims to replicate its success story in the Saudi market

Cityscape Global 2024 concludes with over $61 billion in real estate transactions

Event attracted over 172,000 visitors and hosted more than 400 exhibitors, including some of the biggest local and global companies

How are UAE, Saudi Arabia leading way in sustainable tourism?

Despite the clear benefits of sustainable tourism, several challenges and barriers hinder its implementation 

How retailers in UAE, Saudi Arabia are meeting evolving consumer expectations

In the UAE, the market stands at $40 billion, with an anticipated CAGR of 6.5 percent

Saudi Arabia’s PIF sells 2 percent stc stake, raises $1.03 billion

PIF’s remaining stake in stc equates to 3.1 billion shares or 62 percent

Cityscape Global 2024 offers attendees access to entire real estate ecosystem

Future of Living Stage reveals 135km "green spine" to enhance quality of life in Riyadh for both tourists and residents

Cityscape 2024: Sakani pavilion attracts 14,756 visitors, books 2,299 residential units valued at $306 million

The program's financial advisory service conducted 394 consultations on-site at the pavilion 

Cityscape Global 2024 reveals $3.36 billion worth of new projects, strategic agreements

More than $3.2 trillion AUM in Real Estate Assets represented during Cityscape Global

Building on ambition and innovation

Real estate sector plays an essential part in the region’s ambitious yet imperative economic diversification journey