Vision 2030

The Saudi Arabia’s Public Investment Fund (PIF) is in the midst of negotiations with significant figures in the boxing industry to set up a league, which could significantly alter the competitive dynamics of the sport.What Happened: Discussions are being held between the PIF and a number of influential boxing promoters, such as Matchroom Boxing and Golden Boy Promotions, with the...

The HR tech sector in Saudi Arabia is undergoing rapid expansion, with projections indicating it will grow from a valuation of US$ 1,231.71 million in 2023 to US$ 2,684.21 million by 2032, marking a CAGR of 9.25%. This growth trajectory is largely propelled by the country's ambitious Vision 2030 initiative, which aims to diversify the economy and revolutionize various sectors,...

The HR technology sector in Saudi Arabia is experiencing robust growth, propelled by the push for modernization and the aim to enhance employee involvement. With substantial capital inflow and a firm commitment to technological advancement, the country is poised to redefine its human resources framework, establishing new benchmarks within the region.The value of the HR tech industry in Saudi Arabia...

Investment Spotlight on Saudi Aramco’s Latest Share OfferingSaudi Arabia has made a striking move in the global investment scene by releasing a new batch of shares for its oil giant, Aramco, which garnered considerable international capital. This recent development marks a stark contrast to the tepid interest observed five years prior.International Investors Jump on Aramco SharesInvestors from a diverse array...

Under the leadership of Prince Fahd bin Mansour bin Nasser bin Abdulaziz, Saudi Arabia’s representatives are set to make a significant impact at the G20 Young Entrepreneurs' Alliance Summit (G20 YEA Summit) scheduled from June 12 to June 14. The Saudi delegation encompasses figures from governmental sectors, the business community, and a cadre of select Saudi entrepreneurs. Prince Fahd has...

In a stunning display of creativity and collaboration, the ROSHN Waterfront has introduced a visually striking mural, spanning its entire walkway, which measures an impressive 16,000 square meters. The artwork, a result of the combined efforts of local artists and volunteers, encapsulates the essence of Jeddah's vibrant culture and the distinctive characteristics of ROSHN. The initiative to beautify the waterfront...

In the midst of strategic advancements and upcoming global events such as Expo 2030, Saudi Arabia boasts an impressive $1.5 trillion in construction projects yet to be awarded. These projects are a direct reflection of the ambitious goals set forth in the nation's Vision 2030 initiative.The kingdom's construction initiatives make up a substantial 39 percent of the Middle East and...

Patria Investments Ltd., a prominent player in the alternative asset management space within Latin America, is actively pursuing the expansion of its portfolio companies into Saudi Arabia. This strategic move is aimed at capitalizing on the business-friendly initiatives of the kingdom, particularly those encapsulated in the ambitious Vision 2030 strategy.Key enterprises under Patria's umbrella, such as the fitness chain Smartfit...

ROSHN Group, a prominent real estate developer, has established collaborative agreements with four leading financial institutions in Saudi Arabia—Arab National Bank, Bank Albilad, Bank AlJazira, and Riyad Bank. These partnerships are geared toward providing a comprehensive suite of financial services to the group's associated sub-developers and contractors. The agreements are designed to supply specialized banking services, which underscore ROSHN Group's...

The travel and tourism industry in Saudi Arabia has seen a remarkable expansion, growing by over 32 percent in 2023, and injecting a historic SR444.3 billion (approximately $118.4 billion) into the nation's economy according to recent findings.A report from the World Travel and Tourism Council’s 2024 Economic Impact Research showcased the Kingdom’s significant contribution to GDP, job creation, and increased...

Hoffmann Green Cement Technologies, a pioneering French company, announced the commencement of construction for its very first Hoffmann cement facility in Rabigh, Saudi Arabia, known as H-KSA 1.The initiation of the Rabigh plant construction comes on the heels of a binding 22-year exclusive licensing agreement with the Shurfah Group, a prominent Saudi conglomerate with extensive real estate interests, including a...

Following the announcement of a secondary share offering poised to garner upwards of $11.2 billion, the value of Saudi Aramco's shares witnessed a notable uptick on the first day of trading thereafter.Opening at SAR27.95 per share, a slight dip from the previous session's close at SAR28.3, the shares quickly rebounded, reaching SAR28.35 by mid-morning. The offering itself was priced at...

The prominent oil company Saudi Arabian Oil Co, known as Saudi Aramco, has recently reported that a substantial portion of its newest share offering has been acquired by international investors, amassing an impressive US$11.2 billion.According to Aramco, The majority of the shares constituting the institutional tranche of the offering was allocated to investors located outside of the Kingdom, with trading...

MSA Nova has forged a strategic memorandum of understanding (MoU) with King Abdullah University of Science and Technology (KAUST) aimed at empowering the startup landscape in Saudi Arabia. This alliance is poised to introduce joint investment ventures and create robust startup accelerator programs.The ambition of MSA Nova is to catalyze the expansion of nascent enterprises and advance technological innovation, aligning...

Saudi Arabia is poised for a major expansion in entertainment amenities, as the Ministry of Investment has partnered with Nowaar Entertainment to establish a series of new entertainment and water-themed parks, with the first anticipated to welcome visitors in Riyadh by 2025.Together with the General Entertainment Authority, the Ministry of Investment (MISA) formalized an arrangement on a recent Sunday with...

The oil behemoth Saudi Aramco has made an announcement that its recent share sale was primarily purchased by international investors, generating a substantial $11.2 billion in the process. This secondary share offering is expected to significantly reinforce the financial standing of Saudi Arabia in the short term, as the kingdom embarks on the construction of ambitious developments, including lavish resorts...

International investors have played a significant role in Saudi Aramco's recent secondary share offering, which is poised to infuse $11.2 billion into the oil behemoth's coffers. This influx of capital is expected to catalyze the funding of expansive projects within Saudi Arabia, such as the construction of resorts and stadiums, which are integral to the country's transformation plan aimed at...

Saudi Arabia Takes the Helm in Worldwide Construction Endeavors - With a staggering $1.5 trillion worth of projects yet to be awarded, Saudi Arabia has surged ahead as the foremost initiator of construction ventures as of the first quarter, a study by a prominent real estate services firm indicates.The Kingdom has clinched a 39 percent slice of the Middle East...

In a recent development from Riyadh, the prominent oil company Saudi Aramco has announced the successful sale of shares, with a substantial portion being acquired by investors beyond Saudi Arabia's borders, amounting to an impressive $11.2 billion capital raise.Before the commencement of trading on the Saudi exchange, Aramco revealed that the institutional tranche of the share offering was predominantly secured...

The latest figures from the General Authority for Statistics (GASTAT) indicate a complex yet promising economic situation in Saudi Arabia for the first quarter of 2024. The real Gross Domestic Product (GDP) has experienced a slight decline of 1.7% on an annual basis, while showing an encouraging seasonally adjusted increase of 1.4% from the previous quarter. Scrutinizing the details of...

The Saudi Ministry of Tourism has made a notable appearance at the 46th Annual NYU International Hospitality Investment Conference, where it cast a spotlight on the Kingdom's rapid development and the vast investment opportunities within its burgeoning tourism sector. This gathering served as an ideal backdrop for Saudi Arabia to exhibit its transformative aspirations of becoming a world-leading tourism hub,...

Leading the Gulf Cooperation Council in automobile sales and securing a position amongst the world's top 20 automotive markets, Saudi Arabia's car industry is on a significant upward trajectory.With 93,300 cars imported in 2023, the Kingdom has seen a substantial climb from the 66,900 vehicles brought in the previous year. This information was shared by Hamoud Al-Harbi, representative for the...

The financial technology landscape in Saudi Arabia is experiencing a significant boost, with the country attracting a surge of activity from fintech firms. Fortis, originating from the UAE, is introducing a comprehensive suite of services including point of sale, customer relationship management, order management, and payment solutions aimed at bolstering small and medium-sized enterprises within the Kingdom.In a recent dialogue,...

The recent disposition of shares by Saudi Arabia's state-owned oil behemoth, Saudi Aramco, culminated in an $11.2 billion capital influx, though falling short of the potential maximum. The sale's intent to captivate a global investment audience was evident in the international promotional efforts spearheaded by CEO Amin Nasser, which encompassed major financial hubs such as London and New York.Following the...

The 46th Annual NYU International Hospitality Investment Conference recently became the stage for Saudi Arabia’s Ministry of Tourism to highlight the significant progress in its tourism sector and the enticing investment openings this growth presents. As Saudi Arabia endeavors to transition into a premier global tourism destination, the conference was a prime opportunity to demonstrate its advancements and commitment to...

LONDON — Saudi Arabia is on the brink of amassing upwards of $11.2 billion by offloading Aramco shares to finance the kingdom's expenditure initiatives. This influx of capital comes despite the state-owned oil behemoth setting the stock price at the lower spectrum of the anticipated range, as announced by the company on Friday.The share pricing was the outcome of an...

The Kingdom of Saudi Arabia is set to bolster its economic plans by garnering in excess of $11.2 billion through the sale of additional shares in its oil colossus, Aramco. Announced on a recent Friday, this move is aimed at injecting capital into the country's expansive spending initiatives.Offered at $7.27 per share, the pricing aligns with the anticipated range's lower...

Saudi Aramco, the titan of the oil industry, has announced the closing price for its secondary share sale at 27.25 Saudi riyals per share, which is on the modest side of the anticipated range, enabling the company to accumulate $11.2 billion in capital.The share offering, which encompasses over 1.54 billion shares or roughly 0.64% of Aramco's total issued shares, was...

In a significant move within the business media sector, Saudi Arabia is on track to accumulate in excess of $11.2 billion through the secondary offering of shares in the state-owned petroleum titan, Aramco. The shares have been priced at the lower spectrum, at 27.25 riyals ($7.27) per share, according to sources acquainted with the situation. At present, Aramco has withheld...

Goldman Sachs has distinguished itself as the pioneering Wall Street financial institution to align with Saudi Arabia's Regional Headquarters (RHQ) policy, acquiring a permit to establish its central Middle Eastern hub in Riyadh. With the kingdom's recent policy, enacted from January 1, 2024, firms are mandated to set up a regional office in Saudi Arabia, staffing a minimum of 15...