Lenovo has signed an agreement with Saudi National Housing Company Innovation for potential collaboration backing the kingdom’s evolving residential and digital infrastructure landscape. The deal sets out a foundation to boost co-operation across advanced technologies such as AI and data science.
Ladun Investment Company said its joint venture with Al Ayuni Investment has been awarded SAR2.4 billion ($639 million) contracts for the infrastructure development works on key Al Qirawan, Al Narjis and Namar plots under the Real Estate Balance Program – Phase One in Riyadh.
Saudi Arabian companies are seeing tangible returns from artificial intelligence as investment becomes more disciplined and workforce preparation gathers pace, said a new survey, adding AI is moving beyond experimentation and into mainstream business use.
Saudi-based Blacksand has announced a landmark agreement with Marriott International to develop 10 hotels in the kingdom over the next four years. Featuring over 1,300 rooms, it will be developed under a range of Marriott brands spanning the luxury, select-service and extended-stay segments.
The Saudi asset management industry remained resilient in Q1 during the height of the Iran conflict, even posting some growth, according to Fitch Ratings. Assets under management (AUM) are likely to continue to rise, surpassing $400 billion in 2027.
Spanish infrastructure major Acciona has announced that its facility service unit has been awarded a three-year contract to provide technical train cleaning and housekeeping services for the Haramain High-Speed Railway, one of Saudi Arabia's most advanced transportation systems.
Saudi-based Umm Al Qura for Development and Construction has signed a land sale agreement with Osus Real Estate for three plots with planned investments of about SAR1 billion ($266.3 million) in Makkah city. The project will involve the development of three residential towers featuring 690 apartments.
Hassan Allam Holding, a leading engineering and construction company in the Mena region, said one of its key subsidiaries, in a joint venture with UCC Saudi, has secured the contract for Waldorf Astoria Hotel, Residences & Mixed Use Super Block located within the kingdom's mega development Diriyah.
Saudi authorities have announced significant growth in the sports infrastructure across the Qassim region over the last few years, supported by public-sector projects and private investment. The number of sports facilities has risen to 270, including 19 football fields in Buraidah.
Red Sea Global, the Saudi developer behind the key tourism destinations The Red Sea and Amaala, said it has secured an independent third-party verification from DNV confirming that the company avoided 117,879 tonnes of carbon dioxide (tCO₂e) in 2024 through its renewable energy operations.
