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  • What Does Neom’s Downsize Means for Saudi Arabia’s Vision 2030?

    When launching The Line in 2021, the Saudi government had announced that 1.5 million people would be living in the city by 2030. Officials now expect there to be fewer that 300,000 residents by that time, according to a source cited by Bloomberg.The source said that officials expected only 2.4km of the 170km city to be completed by 2030. As a result of the scaling back, one contractor dismissed some of the workers it employs on site, according to a document seen by Bloomberg.

  • Vision 2030: How Water Scarcity in Saudi Arabia Persists

    Around eight government agencies, including the Ministry of Environment, Water, Agriculture (MEWA), Water & Electricity Regulatory Authority (WERA), and Saline Water Conversion Corporation (SWCC) are actively dedicated to pursuing a solution. Given the geographical and climatic limitations posed upon Saudi Arabia, desalination facilities built by the Kingdom of Saudi Arabia will be an addition to Vision 2030 to meet water demands as the population increases.

  • Saudi Arabia real estate enters ‘golden era’ as Vision 2030 takes off, new report finds

    Construction and real estate are entering a golden era of growth in Riyadh and across Saudi Arabia as the ambitious reforms of Vision 2030 take effect and fundamentally transform the economy. An in-depth report set to be released next month and published by Quality Media Press will examine the housing boom, mega-projects like NEOM, and how the sector is benefiting from billions in government investment.

  • Saudis Tackle How to Pay for Vision 2030

    Saudi Arabia is embarking on an unrivaled spending spree on everything from mega projects to sports and technology in a bid to prepare for a post-oil future. It appears the country is only just getting started, with annual deployment of capital by the powerful sovereign wealth fund set to hit $70 billion a year from 2025. But even the giant petrostate has limits to what it can afford and that’s prompting the Public Investment Fund, the government and local banks to look for new ways to raise money.

  • Saudi Arabia Tackles How to Pay for Vision 2030; UAE-Egypt Deal Dynamics

    Saudi Arabia is embarking on an unrivaled spending spree on everything from mega projects to sports and technology in a bid to prepare for a post-oil future. It appears the country is only just getting started, with annual deployment of capital by the powerful sovereign wealth fund set to hit $70 billion a year from 2025. But even the giant petrostate has limits to what it can afford and that’s prompting the Public Investment Fund, the government and local banks to look for new ways to raise money.

  • A new perspective on Saudi Arabia’s Vision 2030

    There is a certain amount of confusion among observers about Saudi economic strategy. We can gain clarity on this if we look at the many initiatives of Vision 2030 in the manner that a venture capitalist would look at his portfolio of investments. Doing so, we would see Crown Prince Muhammad bin Salman as placing bets on a large number of sectors, thereby hedging his risks since the economy only needs to win a few of these bets for actual diversification away from oil to take a meaningful step forward.

  • Big 5 Construct Saudi: Driving Saudi Arabia’s Construction Sector Towards Vision 2030

    The upcoming 12th edition of Big 5 Construct Saudi promises to build upon the successes of previous years, featuring an expanded exhibition space, five new product sectors, and participation from 1,300 exhibitors representing 47 countries. The event aims to unite over 55,000 industry players, government stakeholders, and active buyers, all aligned towards the advancement of Saudi Arabia's Vision 2030 goals.

  • Saudi Arabia Macroeconomic Boom: 8.7% GDP Growth, Vision 2030 & $7.6% Fiscal Surplus Fuel Transformation Journey

    Saudi Arabia's macroeconomic landscape is experiencing a dynamic shift, fueled by surging oil prices, ambitious diversification efforts, and transformative Vision 2030 initiatives. Ken Research's "Saudi Arabia Macroeconomic Assessment" report paints a vibrant picture, highlighting key trends, opportunities, and challenges for businesses and investors. This press release delves into the report's insights, offering a snapshot of the Kingdom's evolving economic landscape. 

  • Saudi economy on track to surpass Vision 2030 targets: Al-Falih

    The Saudi economy is poised to grow from SAR 2.6 trillion to exceed the digital target of SAR 6.4 trillion by 2030, Minister of Investment Khalid Al-Falih said. During the second edition of the PIF Private Sector Forum held today, Feb. 6, Al-Falih underscored that the private sector's contribution to the economy is expected to reach 65% by 2030, marking a quadruple increase compared to pre-Vision levels. The minister emphasized that the Public Investment Fund (PIF) serves as the engine of growth for the private sector, and each entity in this journey represents a robust company enhancing opportunities in the Saudi economy. The private sector benefited from opportunities exceeding SAR 300 billion through partnerships with the fund and government initiatives, he added.

  • Saudi Arabia’s Vision 2030 shines at Davos 2024

    Several statements made by the Saudi delegation at the Davos 2024 Forum underscored the economic dimension of the Kingdom’s journey toward achieving Vision 2030 and its commitment to economic diversification.