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Saudi Arabia
Industry
Saudi Arabia’s MODON secures 9 deals worth $266.47 million to develop industrial cities
The projects include infrastructure development for the third industrial city in Jeddah and the second industrial city in Makkah
Real Estate
Saudi Arabia’s residential real estate prices rise 2.8 percent in Q2 2024
Apartment prices in Saudi Arabia increased by 2.9 percent while villa prices declined by 0.5 percent
Miscellaneous
NEOM’s social responsibility programs benefit 50,000 people: Report
The mega-project awarded 26 projects to companies in Tabuk, helping 583 people secure employment
Logistics
Saudi Arabia positions Jeddah Islamic Port as central metals distribution hub with London Metal Exchange listing
This development underscores the port's crucial role in facilitating global trade
Miscellaneous
Saudi Arabia confident in 2034 World Cup bid, featuring rising football stars
The bid reflects Kingdom’s efforts to achieve the sports goals of Vision 2030
Saudi Arabia
Saudi Arabia’s data and AI authority launches data center expansion projects in Riyadh
The value of the Kingdom's data and AI economy is currently at around $4-5 billion
Logistics
Saudi Arabia’s Dammam port sees 37.4 percent container handling growth, manages 1.53 million units in H1 2024
Transshipment containers also surged by 87.87 percent to 37,806 units from 20,124 in 2023
Hospitality & Tourism
Saudi Arabia’s NEOM completes mega infrastructure project phases ahead of schedule
Projects boost NEOM's commitment to leading-edge sustainable transportation solutions
Real Estate
Saudi Arabia’s Diriyah secures $2.13 billion contract to build four luxury hotels, equestrian club in Wadi Safar
The contract has been awarded to a joint venture of two Saudi construction firms, Urbacon and Al Bawani
Banking & Finance
Saudi Arabia’s POS transactions surge to $2.9 billion amid rise in education spending
Hotel spending also increased, rising by 0.2 percent compared to the previous week to reach SAR270.2 million
Markets
Saudi Arabia dominates GCC bond market in H1 2024 with $37 billion in issuances
GCC fixed income markets saw $75.5 billion in primary issuances during this period
Logistics
Saudi Arabia’s flynas announces new weekly flights to Manama, Doha starting September
Airline will operate three weekly flights between Madinah airport and Bahrain International Airport in Manama as of September 10
Logistics
Saudia signs $450 million deal with Germany’s Lilium for 50 electric flying taxis
Lilium expects to deliver the first jets to Saudia in 2026
Energy
Saudi Aramco raises $6 billion in high-demand bond offering, attracting $33 billion in orders
The issuance consists of three tranches of dollar-denominated senior unsecured notes under Aramco's global debt program
Hospitality & Tourism
Saudi Arabia’s tourism sector sees robust growth in H1, hitting $40 billion in visitor spending
Saudi Arabia achieved 60 million visits during the first half of 2024
Energy
Saudi Arabia’s crude oil exports rise 2.51 percent to 6.12 million barrels per day: Official data
Crude oil production increased to 8.99 million bpd, reflecting a monthly rise of 0.08 percent
Economy
Riyadh ranks among 15 fastest-growing cities in the world by 2033: Report
Riyadh's population to grow from 5.9 million to 9.2 million in 10 years
Logistics
Saudi Arabia wins presidency of Arab Civil Aviation Organization executive council
Saudi Arabia supports the organization's 'No Country Left Behind' initiative with $1 million of funding
Economy
Saudi Arabia’s unemployment rate stabilizes at 3.5 percent in Q1: GASTAT
The unemployment rate for Saudi females rose to 14.2 percent in Q1 2024, up from 13.9 percent in the previous quarter
Logistics
Saudi non-oil exports to China exceed $46.9 billion over past 5 years
This highlights the strong economic and trade relationship between Saudi Arabia and China
Markets
Saudi Arabia’s capital market raises $8 billion from 70 sukuk, debt instrument listings in 2023: Report
Saudi Arabia saw record high net foreign investments, which rose 7.7 percent annually to $52.78 billion in 2023
Saudi Arabia
Saudi Arabia, U.K. explore opportunities in sustainable city development, green energy
Saudi Arabia's Ambassador to the U.K. highlighs the growth of debt markets and insurance companies across the Kingdom
Logistics
Saudia among top airlines globally for on-time arrival, departure
King Khalid International Airport ranked first globally with an on-time performance of 88.23 percent
Economy
Riyadh among top 5 startup ecosystems in MENA region: Report
Riyadh is among the top emerging ecosystems globally with four unicorns in the last 10 years
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