Saudi economy is set to remain resilient, underpinned by strong oil-sector infrastructure and continued economic diversification, said a report. Revenues are projected to rise 1% in 2027 to SAR1.2 trillion ($314 billion), compared with the 2026 estimate, while government spending is likely to fall 3%.
Saudi-based Alramz Real Estate Company has announced the official launch of its Masar Corner project in Makkah, featuring two towers with a total of 541 residential, commercial and service units and a gross built-up area of 125,000 sq m. The project, located within the Masar destination, is set for completion in 2029.
BlackRock has joined forces with Saudi wealth fund PIF to launch new mutual funds across asset classes focused on Saudi systematic active equities and Mena fixed income at the ongoing Future Investment Initiative (FII9) event in Riyadh.
The Saudi Modon has signed five new industrial contracts in the critical medical and pharma industries in bid to localise vital supply chains. For these projects, 46,500 sq m of industrial land has been allocated in Jeddah, Sudair City and Dammam.
Amid a rapidly shifting global landscape defined by geopolitical uncertainty, climate change and tech disruption, Generative AI and innovation-led 'Engine 2' business models are emerging as major drivers of resilience across the region, says a new study.
Abunayyan Holding, a major player in the Saudi utility sector, has joined hands with NEXTracker, a leading provider of intelligent solar tracker solutions, to set up a new venture, Nextracker Arabia, aimed at accelerating energy transition in the Mena region.
Merak Capital, a Saudi-based investment firm focused on opportunities across multiple industries, has announced a SAR100 million ($26.7 million) strategic investment in Arsann, the kingdom’s leading operator of smart parking and mobility infrastructure.
The Saudi Tourism Authority (STA) concluded its promotional tour across Oman, Qatar, Bahrain, and the UAE. The tour was executed in cooperation with a select group of partners from the Saudi tourism private sector.
Global law firm Reed Smith has announced that it has opened its office in Riyadh from where it will kick off its Saudi operations. The new office builds on its long-standing presence in the Middle East, having opened its Abu Dhabi office in 1978.
Indian construction and engineering conglomerate Larsen & Toubro (L&T) has signed an agreement with Onaizah Colleges to prepare Saudi students for careers in renewable energy, supporting the kingdom’s energy transition and its Vision 2030 goal of developing a skilled national workforce.
