Saudi Arabia’s Real Estate set for growth with billions in new projects

Saudi Arabias Real Estate set for growth with billions in new projects

RIYADH: Saudi Arabia’s real estate sector will grow significantly as leaders, investors and policymakers came together at the Real Estate Future Forum held in Riyadh to discuss significant projects and investments.   Asir Gov. Prince Turki bin Talal declared that the Public Investment Fund (PIF) led the nine major projects in the region, with four already […]

Saudi Arabia allows foreign investment in Makkah and Madinah Real Estate

Saudi Arabia allows foreign investment in Makkah and Madinah Real Estate

RIYADH: Saudi Arabia now allows foreign investment in real estate companies especially those with properties in Makkah and Madinah. The Saudi Capital Market Authority (CMA) announced this decision which aligns with Vision 2030, which aims to diversify the economy and boost foreign investment.   Even though foreigners can invest in shares or convertible debt of […]

FIFA World Cup 2034 to Boost Saudi Arabia’s Stock Market

FIFA World Cup 2034 to boost Saudi Arabia’s Stock Market

RIYADH: Saudi Arabia’s hosting of the FIFA World Cup 2034 will have a positive effect on the economy and stock market, according to a report by SNB Capital. The event is expected to raise the nation’s non-oil GDP by 4-5% in the medium term, supporting Vision 2030’s goals of diversifying the economy by reducing dependency on […]

Saudi Arabia launches duty exemptions on Industrial inputs to boost exports

Saudi Arabia launches duty exemptions on Industrial inputs to boost exports

RIYADH: Saudi Arabia has launched a new service ‘Exemption for Export,’ to boost its industrial sector’s global competitiveness. This initiative was launched by the Saudi Export Development Authority in collaboration with the Ministry of Industry and Mineral Resources to provide customs duty exemptions for industrial inputs used to make exports goods. The initiative will support […]

Saudi Arabia announced as Host for 2034 FIFA World Cup

Saudi Arabia announced as Host for 2034 FIFA World Cup

RIYADH: FIFA has officially announced that Saudi Arabia will host 2034 World Cup, bringing excitement throughout the kingdom. The announcement was made at the FIFA meeting, which was chaired by President Gianni Infantino, backed by the support of more than 200 FIFA member federations.   Crown Prince Mohammed bin Salman shared his excitement addressing the kingdom’s […]

Saudi Arabia raises R&D spending to $ 6 billion in 2023 to push Vision 2030

Saudi Arabia raises research & development

RIYADH: In 2023, Saudi Arabia rose its research and development (R&D) spending to SR 22.61 billion ($ 6.02 billion), an increase of 17.4% from the last year. This movie is in support of Vision 2030 initiative to lessen dependency on oil sectors and strengthen sectors such as energy, technology and sustainability.   The Kingdom’s R&D workforce […]

Riyadh Metro’s first phase of operations to begin on November 27

Riyadh Metro

RIYADH: Riyadh Metro, a major milestone for Saudi Arabia, will open its first phase on November 27, 2024. The world’s largest, $22.5 billion driverless metro system, is geared to modernise transportation in Riyadh, supporting the nation’s Vision 2030 objectives to lessen traffic, encourage sustainability and support urban growth.   The metro network will cover 176 kilometers […]

Saudi Arabia targets 450,000 new jobs in Entertainment Sector by 2030

Saudi Arabia targets 450000 new jobs in Entertainment Sector

RIYADH: Saudi Arabia’s Entertainment sector is set to generate 450,000 jobs and contribute 4.2% to the country’s GDP by 2030 as stated by the Ministry of Investment. This growth is in line with Vision 2030’s objective of diversifying the economy by reducing dependency on oil revenue and boosting tourism and Saudi culture.   The country’s entertainment sector […]

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