Business

Saudi Arabia has launched a 5 percent Real Estate Transaction Tax (RETT) starting April 10, aimed at supporting economic diversification. This new tax is applicable to all property transactions, including residential, commercial, and industrial, regardless of their development status or ownership type. It also covers undocumented transactions. Property transfers must be registered via the RETT platform on the Zakat, Tax...

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Business registrations in Saudi Arabia experienced a significant 48% increase in the first quarter of 2025, with 154,638 new commercial records issued. This data, provided by the Ministry of Commerce, highlights the importance of commercial registration certificates for legal business operations in the Kingdom. These certificates are essential for opening bank accounts, hiring employees, and signing contracts. Most of these...

Sary, a Saudi-based B2B marketplace, has merged with Bangladesh’s ShopUp to form SILQ Group, supported by a $110 million funding round. This investment includes both equity and financing for SILQ Financial, the group’s financial services unit. Sary, launched in 2018, connects small businesses with manufacturers and lenders, while ShopUp, founded in 2016, links local shops with mills, brands, and manufacturers....

Saudi Arabia is advocating for enhanced global collaboration on technical standards and radio spectrum management to boost satellite investments, as discussed at the 40th Space Symposium in Colorado. The event, which included major industry figures from companies like SpaceX and Amazon’s Project Kuiper, highlighted Saudi Arabia's strategic position as a connectivity hub linking Europe, Asia, and Africa. CST Governor Mohammed...

Saudi Aramco has agreed with China's Sinopec to expand their Yasref petrochemicals facility on Saudi Arabia's west coast. This move is part of Aramco's strategy to strengthen its refining and chemicals operations, helping to balance fluctuations in global oil prices. The expansion includes plans for a mixed feed steam cracker with a capacity of 1.8 million metric tons per year,...

Accesso Technology Group PLC has been selected as the guest experience technology provider for the Qiddiya entertainment project in Saudi Arabia. Located southwest of Riyadh, Qiddiya covers over 300 square kilometers and is a key part of Saudi Vision 2030. It will feature attractions such as the Six Flags Qiddiya theme park and the Aquarabia water park. Accesso will implement...

Business registrations in Saudi Arabia experienced strong growth in the first quarter of 2025, rising 48 percent year-on-year with over 154,000 new commercial records issued. Official data highlights that most registrations were concentrated in Riyadh, Makkah, and the Eastern Province. Recent government reforms, including new laws simplifying the registration process and eliminating the need for subsidiary registers, have made it...

Saudi Aramco has identified 14 new oil and gas sites in the Eastern Region and the Empty Quarter, according to a recent announcement. These new discoveries include six oil fields, two oil reservoirs, two gas fields, and four gas reservoirs. The combined output from the oil finds is estimated at 8,126 barrels per day, featuring various grades of Arabian oil....

Saudi Arabia is considering the launch of special purpose acquisition companies (SPACs) on its parallel market, Nomu, aiming to encourage more private sector listings and expand investment opportunities. The Capital Markets Authority (CMA) is seeking public input on a proposed regulatory framework for SPACs, part of a broader effort to deepen the capital market and diversify available investment products. The...

Saudi Arabia’s industrial sector marked a notable advance with the launch of 103 new factories in January, drawing investments of SR900 million and creating over 1,500 jobs. This progress reflects the nation’s broader push to expand its industrial base as part of ongoing economic diversification efforts. The Ministry of Industry and Mineral Resources also granted 63 new industrial licenses that...

Egyptian quick commerce company Rabbit is entering the Saudi Arabian market, aiming for 20 million deliveries by 2026 using a network of strategically located dark stores in major cities. Following approval from Saudi authorities, Rabbit established its regional base in Riyadh as part of a wider Gulf expansion plan. The company relies on an AI-driven recommendation system and promises 20-minute...

SS&C Technologies has expanded its international reach by opening a new office in Riyadh, Saudi Arabia. This move is aimed at strengthening relationships with key financial regulators in the region and enhancing support for local clients. Currently, SS&C serves 850 financial and corporate clients across the Middle East, including 150 in Saudi Arabia. The company provides advanced software and services...

SS&C Technologies Holdings has expanded its presence in the Middle East with a new office in Riyadh, Saudi Arabia. This move aims to strengthen the company's relationships in the region, particularly with the Capital Markets Authority and the Saudi Arabian Monetary Agency. The new location is expected to support SS&C's growth and deepen its engagement within the Saudi financial sector.

Artificial intelligence is playing a bigger role in the beauty industry, with companies in Saudi Arabia and worldwide adopting new technologies to improve customer experiences. Glamera, a company that started in Egypt and now operates in several Saudi cities, uses AI to tailor service recommendations by analyzing users’ preferences and behaviors. Augmented reality is also gaining ground, letting consumers virtually...

Saudi Arabia is experiencing a surge in mergers and acquisitions, significantly reshaping its business environment. The General Authority for Competition's approval of economic concentration requests is playing a crucial role in this transformation, promoting market consolidation and growth. This increase in approvals, up 17.4% in 2024, reflects the Kingdom's commitment to enhancing market competition, preventing monopolies, and fostering a robust...

Saudi Arabia has introduced new Commercial Pledge and Trade Names Systems to modernize its business environment, part of the Vision 2030 initiative. These systems, effective April 3, 2025, aim to simplify commercial operations and boost economic growth. The Ministry of Commerce highlights that the new systems streamline procedures by introducing a unified commercial register, eliminating branch registers. This change reduces...

Saudi Arabia is set to host the Industrial Transformation Exhibition in December 2025, a new event established through a partnership between the Ministry of Industry and Mineral Resources, Deutsche Messe, and Riyadh Exhibition Company. This initiative, announced during the Future Minerals Forum, is part of the global Hannover Messe network and reinforces the Kingdom’s ambitions under Vision 2030 to become...

Saudi Arabia is implementing significant updates to its business registration process with the introduction of the new Law of Commercial Register and Law of Trade Names. These changes will eliminate the need for subsidiary registers, requiring only a single commercial register valid across all regions. This move aligns with the nation's strategy to diversify its economy and boost private sector...

Despite a global decline in CEO confidence, leaders in Saudi Arabia remain optimistic about their country's prospects and their companies' revenue growth, as revealed by PwC's annual CEO Survey. Saudi Arabia's economic diversification strategy is proving effective, boosting business leaders' confidence in the Kingdom's future. The survey compared the perspectives of Saudi CEOs with those from the Middle East and...

Consumer spending in Saudi Arabia is expected to remain strong, driven by a young, digitally savvy population and ongoing economic reforms. Experts highlight that millennials and Gen Z are fueling demand for e-commerce and cross-border shopping, with digital platforms making premium goods more accessible. Strategic government investments and efforts to diversify the economy are significantly boosting consumer confidence and spending....

Consumer spending in Saudi Arabia is projected to remain strong, supported by a youthful population and digital growth. Sunil Kumar, CEO of Spinneys, forecasts a 6.4% annual growth rate in consumer spending in Saudi Arabia from 2022 to 2028, compared to 4.3% in the UAE. Kumar's insights are echoed by a report from AlixPartners, noting Saudi Arabia's consumer market is...

Saudi Arabia's Vision 2030 aims to create a more business-friendly environment, attracting both local and international investors. The government has simplified business setup processes through reforms like streamlined licensing, tax incentives, and better legal protection for foreign investments. Foreign entrepreneurs entering the Saudi food and beverage market must navigate specific legal processes. Two common scenarios include launching a new restaurant...

Businesses in Riyadh experience a surge in activity during Ramadan, as shoppers seek items that enhance their celebrations. Traditional products such as lanterns, dates, and fabrics see higher demand, reflecting the importance of cultural customs during this period. A visit to Al-Magliah market revealed that clothing retailers, in particular, benefit from the season. Shops offering undergarments for thobes, as well...

Saudi Arabia’s mergers and acquisitions market has seen a strong surge, with deal values rising 55 percent to $9.6 billion in 2024. This growth is largely driven by foreign investment and activity in sectors such as industry, technology, and consumer goods, all aligning with the nation's Vision 2030 economic transformation goals. Foreign investors contributed to nearly a third of these...

Tesla is set to enter the Saudi Arabian market, marking a significant step for the company as it faces industry challenges. The electric vehicle maker will host a launch event in Riyadh, where it plans to highlight advancements in artificial intelligence and robotics, including demonstrations of the Cybercab and the Optimus humanoid robot. Tesla representatives will also be available to...

Saudi Arabia is investing heavily in airport infrastructure, allocating $147 billion to expand and modernize its aviation sector. This initiative aims to enhance air connectivity to 250 destinations, increase annual passenger capacity to 330 million, and double air cargo handling to 4.5 million tons by 2030. The ambitious program is projected to add $82.3 billion to the nation's GDP by...

Saudi Arabia has introduced new incentives to draw foreign investment into its mining sector, supporting ongoing economic diversification plans. The Ministry of Investment, in collaboration with the Ministry of Industry and Mineral Resources, has launched a program to simplify mineral exploration investment. This move aims to make the sector more attractive for both domestic and international companies. The government plans...

Several Thai firms are set to invest in Saudi Arabia’s Qassim region, viewing it as a promising business destination. The area stands out as a major agricultural hub, often called Saudi Arabia’s “food basket,” and serves as a critical link between Riyadh, Madinah, and Hail. Qassim produces over a million tonnes of agricultural goods each year and hosts the Middle...

Spain's Tecnicas Reunidas and Egypt's Orascom have won a $2.6 billion contract to expand a major gas-fired power plant in Saudi Arabia. The project will increase the plant's capacity to 3 gigawatts and introduce carbon capture infrastructure, alongside a new 380-kilovolt substation. This contract, structured as an equal partnership between the two companies, adds to a series of recent deals...