Saudi Economy News – Vision 2030, Growth & Sector Updates

Saudi Arabia bets on coffee with new mega farm

A vast agricultural hub in Al Baha emerges as Kingdom’s first coffee bean producer

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Saudi home demand booms even before new rule change

Easier access to mortgages, more homes being delivered turbocharge demand

Saudi Arabia has been committing massive funding into infra and public services. This is all feeding into the demand for property from resident Saudis and GCC nationals.

Digital ID to enable foreigners to buy Saudi property

The Cabinet also endorses a governance framework for non-Saudi property ownership

The move aims to streamline transactions, strengthen regulatory oversight, and attract more foreign investment into Saudi Arabia’s real estate market.

Saudi tech firms are hiring - not so in construction

Oil and gas jobs too see drops due to delayed government spending

Some of the facets of the NEOM master-development have been resized or been shifted to new timelines. This is part of the reset seen in the Saudi construction sector. (Picture used for illustrative purposes.)

Saudi car buyers get Tesla - more EV brands to join

Saudi dealers rush to sign up more Chinese EV makers, offer accessible pricing

Time to buy an EV? More Saudi car buyers are weighing their choices to switch from fuel to electric cars.

Is Riyadh speeding its way to be a global 'super hub'?

Knight Frank ranks Saudi metropolis as primed to be a global hub

The face of Murabba. Saudi Arabia is creating new landmarks and reworking existing destinations.

New Saudi fund targets SMEs, startups

Sukna fund will not require SMEs to offer shareholding to tap financing

The Saudi government and banks have loosened funding availability for SMEs, startups. A new fund, from Sukna Capital, is offering another financing option for these businesses. (Picture used for illustrative purposes.)

Lulu opens another mega-hypermarket in Saudi Arabia

At Dh5.5b, Saudi Arabia now makes up 20% of retail giant's revenues

Lulu has opened its latest mega-store in Saudi Arabia, now making up 20% of the retailer's revenues.

Saudi Arabia's hiring intake is fastest in 14 years

New employee intake is also leading to sharp increase in wage costs for Saudi firms

Saudi Arabia's flood of new mega-scale developments and allied projects is part of the reason why there is a hiring spree.

For tech salaries, UAE businesses will pay top dollar

Many UAE businesses also have to factor in corporate tax payments by September

When it comes to tech and AI, UAE and Saudi business are willing to offer top dollar for the best of talent. Even stock options and profit share, if necessary.

Want to play Monopoly? Soon, try the 'Riyadh' version

'Riyadh Monopoly' to hit stores in September

The 'Riyadh Monopoly' board game is another chance for the Saudi metropolis to showcase its key landmarks..

Saudi celebrates record-breaking year for tourism

A record-breaking 30 million inbound tourists visited Saudi Arabia in 2024

Saudi Arabia's ambitious plan to draw tourists mirrors a vision to broaden its economy beyond oil dependency.

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