MUST-READS

• Saudi Arabia’s Almoosa Surges in Debut Post $450 Million IPO

  Saudi Arabia’s Almoosa Health Co. surged in its trading debut following a $450 million initial public offering in Riyadh, bucking the recent trend of disappointing listings in the Middle East. The strong debut comes against a backdrop of tepid starts from high-profile regional IPOs like Talabat Holding, Lulu Retail Holdings and Oman’s OQ Exploration & Production SAOG. Saudi listings such as United International Holding and Tamkeen Human Resources Co. have been relatively resilient. Shares of the hospital operator rose to as much as 165 riyals ($43.9) — the maximum allowed 30% increase from the offer price — before paring gains to 15%. The rally gave the company a market capitalization of around 6.3 billion riyals.

• Saudi Arabia’s Jeddah Tower to serve as magnet for surge in global investment in the Kingdom, say experts

  “The impact of Jeddah Tower will extend far beyond its architectural grandeur. The construction of such an iconic structure will be a catalyst for transformative change within the Kingdom’s real estate and broader economic sectors,” Sankey Prasad, Chairman and MD, Middle East and India, Colliers, a leading global diversified professional services and investment management company, told Arabian Business. “These types of landmark projects have historically been key drivers of urban development, creating attractive environments for businesses, residents, and tourists alike,” he said. Farooq Syed, CEO of Dubai-based Springfield Properties, said as the Middle East region continues to expand its influence on the global stage, projects like the Jeddah Tower will complement Dubai’s established position as a global hub, fostering increased connectivity, collaboration, and economic opportunity across the region.

• World Cup award adds pressure to Saudi Arabia’s construction challenge

  Fifa’s decision to award Saudi Arabia the 2034 World Cup has started the clock on a huge logistical undertaking to build the infrastructure needed to welcome football fans from around the world. With eight new stadiums including a futuristic clifftop venue planned, the World Cup has become the kingdom’s latest infrastructure deadline as it invests heavily to become a global sports hub. It will host football’s Asian Cup in 2027 and the multi-sport Asian Winter Games in 2029. The demands add to several big projects that are part of Vision 2030, Crown Prince Mohammed bin Salman’s plan to reduce the economy’s dependence on oil revenues. Despite the bold vision, Saudi officials acknowledge that they have recalibrated some plans as they assess the kingdom’s ability to complete projects on time.

• Leading Saudi Arabian airports hit passenger traffic highs in 2024

  Jeddah King Abdulaziz International Airport and Riyadh King Khalid International Airport each posted record passenger traffic in 2024, reflecting the continuing strong performance of aviation in Saudi Arabia. King Abdulaziz International Airport served 49.12 million passengers, a leap of +14% year-on-year and a new annual high for any airport in the Kingdom. Jeddah Airports Company hailed the figure as a “historic milestone”, noting that the busiest day was 31 December when it hosted 174.600 travellers. With 4.7 million passengers, December was also the busiest month of the year. In a statement, Jeddah Airports CEO Eng. Mazen Johar attributed the record-breaking performance to the airport’s accelerated operational growth, enabled by the support of the Kingdom’s leadership and oversight of the Ministry of Transport and Logistics. He saluted infrastructure development, emphasising the company’s vision to position the airport as a global hub.

• Saudi Arabia Plans Further Borrowing Spree to Pay for Huge Projects

  Saudi Arabia, one of the largest bond issuers in emerging markets last year, has started 2025 with a funding spree as the country fuels its vast economic transformation plan. The kingdom’s sovereign wealth fund signed a $7 billion Islamic loan with a group of 20 international and regional banks, it said Monday. The announcement came hours after the finance ministry began a dollar-bond sale and days after it raised $2.5 billion from three foreign banks. Its budget is forecast to remain in deficit for the next few years at least, meaning it has to rely more on borrowing.

• Saudi Arabia estimates 2025 budget funding at $37bn

  Saudi Arabia will need estimated funding of SAR139 billion ($37.02 billion) in 2025 to cover the potential budget deficit. Finance minister Mohammed Al Jadaan has approved the borrowing plan, the National Debt Management Cente said in a statement. The ministry anticipates a budget deficit of SAR101 billion for the year, with nearly SAR38 billion of debt repayment. The kingdom aims to continue diversifying local and international financing channels to efficiently meet funding needs in 2025. It said this will be achieved by issuing sovereign debt instruments, guided by well-defined and robust risk management frameworks.

• Dakar Rally competitors react to grueling Stage 2 in Saudi Arabia: Video

  Dakar Rally drivers and riders recount Stage 2 of the event, where competitors took two days to traverse nearly 1000 km.

• Saudi Arabia completes arrangement to secure $2.5 bln credit facility
  Saudi Arabia has finalised an arrangement for securing a shariah-compliant revolving credit facility worth $2.5 billion, the National Debt Management Center (NDMC) said on Thursday. The credit facility, which spans a tenure of three years, is aimed at financing the general budgetary needs, and was secured with the participation of three regional and international financial institutions, NDMC added in a statement.

• Saudi Arabia embraces mortgage-backed securities

  Saudi officials have signed a preliminary deal this week to issue residential mortgage-backed securities, a first for the Gulf. The Saudi Real Estate Refinance Company (SRC), which is owned by the Public Investment Fund (PIF), and the Hassana Investment Company, which manages the assets of the national social security and pension fund, signed the memorandum of understanding on January 1. “Our partnership with Hassana marks a significant milestone in supporting the evolution of the housing finance landscape and fostering the development of Saudi Arabia’s capital markets,” SRC’s chief executive Majeed Al Abduljabbar said in a statement. Mortgage-backed securities are investments like bonds. Each is a share in a bundle of home loans and other real estate debt bought from the banks or government entities that issued them. Investors in mortgage-backed securities receive periodic payments like bond coupon payments.

• A review of sugar-sweetened beverages taxation in Saudi Arabia and United Arab Emirates

  Both countries implemented SSBs taxation consistently between 2015 and 2023, generating additional revenue and reducing obesity rates. The acceleration scenario estimates showed that SBB taxation could reduce overweight prevalence among children and adolescents (‎aged 5–19 years)‎ from 38.2% in 2020 to 34.4% in 2030 in Saudi Arabia and from 37.0% to 34.6% in United Arab Emirates, and could reduce obesity rate by approximately 12.7% in Saudi Arabia and 9.5% in United Arab Emirates in the same period.

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