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685 ‘exceptional talents’ obtain Premium Residency at LEAP ’25
- February 13,2025
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- SUSTG Team
Saudi Arabia’s Premium Residency Program which is intended to increase the number of highly skilled individuals, entrepreneurs, and investors residing long-term in Saudi Arabia got a big boost at Leap ’25.
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LEAP ’25 sees big bets on AI, data centers and IT
- February 12,2025
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- SUSTG Team
LEAP 2025 Tech Conference, the fourth iteration of this event, and organized by the Ministry of Communications and Information Technology and others, has seen over $22 billion in commitments across a broad range of tech sectors.
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Sotheby’s ‘Origins’ auction in Diriyah nets $17 million; Saudi artists in demand
- February 11,2025
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- SUSTG Team
Sotheby’s inaugural auction in Saudi Arabia which was also the kingdom’s first major international art and luxury auction, took place in Diriyah this weekend and included works by regional and Saudi artists.
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Lenovo and Alat break ground on new manufacturing facility
- February 10,2025
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- SUSTG Team
Making good on a strategic collaboration agreement announced in May 2024, Alat and Lenovo broke ground on Sunday on a new manufacturing plant outside of Riyadh.
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Saudi population grows to 35.3M in H1 2024
- February 7,2025
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- SUSTG Team
Saudi Arabia’s population grew 4.7% to 35.3 million by mid-2024 according to the General Authority for Statistics.
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Automotive cluster named in King Abdullah Economic City (KAEC)
- February 6,2025
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- SUSTG Team
Crown Prince Mohammed bin Salman named the automotive manufacturing hub within King Abdullah Economic City the “King Salman Automotive Cluster” with the intent that it become an automotive industry center.
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Fitch gives Saudi Arabia Default Rating ‘A+’; Outlook Stable
- February 4,2025
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- SUSTG Team
Fitch Ratings has affirmed Saudi Arabia’s Long-Term Foreign-Currency Issuer Default Rating at ‘A+’ with a Stable Outlook.
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MBS meets Syrian President Al-Sharaa in Riyadh
- February 3,2025
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- SUSTG Team
Syria’s interim president Ahmed al-Sharaa chose to make his first international trip to Saudi Arabia where he met with Crown Prince Mohammed bin Salman in Riyadh.
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Neom provides updates at recent Davos World Economic Forum
- January 31,2025
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- SUSTG Team
NEOM executives provided updates on four main projects that are part of the Neom project revealing that they are all underway, but that flagship linear city The Line will take around 100 years to complete and populate.
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Led by Saudi, GCC contract awards reach new high in 2024
- January 30,2025
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- SUSTG Team
In its recently released GCC Projects Market Update, KAMCO Invest found that the total value of contracts awarded in the Gulf Cooperation Council (GCC) reached a new high of $273.2 billion in 2024.
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MUST-READS
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Art Week Riyadh 2025: A New Era for Saudi Arabia’s Thriving Art Scene
The Visual Arts Commission of Saudi Arabia proudly announces the inaugural edition of Art Week Riyadh, a groundbreaking initiative celebrating the Kingdom’s dynamic art scene. Taking place from 6 to 13 April 2025, this event will bring together leading local and international galleries, cultural institutions, artists, collectors, and art enthusiasts under the theme “At The Edge.” As a non-commercial initiative, Art Week Riyadh is designed to foster collaboration, exchange, and innovation within Saudi Arabia’s growing art ecosystem. With programming that honors the past, celebrates the present, and invests in the future, the event will highlight the depth and breadth of Saudi’s artistic landscape.
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Industry Minister: Saudi Arabia Seeks to Enhance Partnership with India in Strategic Industries
Minister of Industry and Mineral Resources Bandar Alkhorayef stressed Saudi Arabia’s commitment to enhancing its strategic partnership with India across key economic sectors, particularly industry and mining. The minister made his remarks while chairing a roundtable meeting with leaders from India's private sector in New Delhi. Alkhorayef highlighted that the Kingdom is taking serious steps to boost collaboration in vital industries, including automotive, medical industries, biotechnology, chemicals, petrochemicals, machinery, and renewable energy.
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Saudi Arabia’s Q4 GDP expands at fastest quarterly pace since 2022
Saudi Arabia’s economy grew at the fastest pace since 2022 during the fourth quarter of last year, buoyed by expansion of both the oil and non-oil sectors as the kingdom continues to pursue its economic diversification agenda. The country’s gross domestic product grew by 4.4 per cent on an annual basis during the three-month period to the end of December “supported by the growth of key economic activities”, the kingdom’s General Authority for Statistics said on Thursday. This rise is markedly higher than the 2.8 per cent year-on year GDP growth recorded in the third quarter of 2024, and is the sharpest rate of expansion in the past two years, according to Gastat data.
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Adesanya vs Imavov: UFC fight Saudi Arabia – start time, card, how to watch
The Ultimate Fighting Championship (UFC) travels to Saudi Arabia with an impressive lineup of mixed martial arts (MMA) talent, headlined by a thrilling main event middleweight clash between former two-time UFC champion Israel Adesanya of New Zealand and France’s rising star, Nassourdine Imavov. The co-main event features a much-anticipated bout between the all-round brilliance of Shara Magomedov from Russia and the powerful punching Briton, Michael Page.
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SAMA licenses STC Bank to start operations in Saudi Arabia
The Saudi Central Bank (SAMA) gave the green light for STC Bank to commence its operations in the Kingdom. In April 2024, SAMA granted stc an experimental launch permit for STC Bank. The bank, in which stc holds an 85% stake, aims to provide Shariah-compliant banking services and financial solutions. Arabian Internet and Communications Services Co. (solutions) initially established STC Bank in 2017, with SAR 100 million in capital. The ownership was transferred to stc in 2019, with capital increased to SAR 400 million by the end of the same year.
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King & Spalding’s Strategic Expansion: Merging with Al Fahad & Partners in Saudi Arabia
In a landmark move to solidify its presence in the Middle East, King & Spalding, ranked 17th in the 2023 Am Law 100 with a gross revenue of $2.14 billion, has merged with Abdulaziz H. Al Fahad & Partners, one of Saudi Arabia’s most esteemed law firms. The newly formed entity, King & Spalding Al Fahad, is poised to deliver an expansive suite of legal services, aligning with the region’s evolving needs and the ambitious economic transformation under Saudi Arabia’s Vision 2030.
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Salesforce Expands Presence in Saudi Arabia with New Regional Headquarters in Riyadh
Salesforce, the world’s #1 AI CRM, today announced plans to expand its presence in Saudi Arabia with a new regional headquarters in Riyadh. Salesforce also announced plans to partner with IBM to open a Center of Excellence in Riyadh. Separately, it pledged to provide upskilling opportunities to 30,000 Saudi citizens by 2030. These investments underscore Salesforce’s growing presence in the region as more companies invest in Agentforce, the digital labor platform for enterprises.
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Islamic Arts Biennale 2025 Opens in Jeddah, Saudi Arabia
The second edition of the Islamic Arts Biennale, titled And All That Is In Between, has officially opened in Jeddah. Organized by the Diriyah Biennale Foundation, the Biennale takes place at the Western Hajj Terminal of King Abdulaziz International Airport, a site that holds profound significance for millions of Muslim pilgrims traveling for Hajj and Umrah. The exhibition scenography is designed by the international architecture firm OMA, enhancing the experience with a thoughtful spatial narrative. The exhibition, which runs until May 25, 2025, explores how faith is experienced, expressed, and celebrated through feeling, thinking, and making.
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Saudi Arabia Participates in Ministerial Meeting in New York to Back Yemeni Government
The Saudi Development and Reconstruction Program for Yemen (SDRPY) has participated in the international ministerial meeting to support the Yemeni government, held here in conjunction with the UN Security Council meeting and co-chaired by Yemeni Prime Minister Dr. Ahmed Awad bin Mubarak and British Minister for the Middle East and North Africa Hamish Falconer. SDRPY Director of Developmental Programs Dr. Hala Alsaleh underscored that Saudi Arabia's participation in the meeting reflects its ongoing commitment to supporting Yemen across various sectors. She highlighted the Kingdom's consistent efforts to foster peace and stability in Yemen through comprehensive development initiatives led by the program.
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KAUST leads efforts to kickstart an innovative cement industry in Saudi Arabia
As part of efforts to support the Kingdom in diversifying the Saudi economy and creating innovative new industries, KAUST has announced the Future Cement Initiative (FCI) to guide cement manufacturing. KAUST, the Ministry of Industries and Mineral Resources, and the National Committee of Cement Companies form the core group of founding partners of the FCI. Saudi Arabia’s industrial sectors have surged by 60% over recent years, reflecting the country’s efforts to diversify its economy and position itself as a global manufacturing power. Many of these projects are cement intensive, and a primary goal of the FCI aims to improve the economic and environmental competitiveness of cement manufacturing in Saudi Arabia through the development of cost-effective approaches and innovative technologies. In turn, this will position Saudi Arabia as a leader in the Middle East region’s cement industry.
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