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  • Saudi Arabia Reveals New Plans For Budget Tourism Development

    The 1,800-kilometer Saudi Red Sea coast is split into three areas by authorities: the north side for luxury; the center for culture and entertainment at a variety of prices; and the south for mid-market and budget choices. But most of the attention has been on luxury mega projects in the north – the center and south haven’t announced much large-scale development. A new report from the Ministry of Investment and the Saudi Red Sea Authority (SRSA) reveals new details about tourism development for mid-market and budget stays.

  • Saudi air freight sector sees 53% growth in 2024: GACA President

    President of the General Authority of Civil Aviation (GACA) Abdulaziz Al-Duailej stressed that the Kingdom witnessed a 53% surge in the air freight sector during 2024, compared to 2023, Saudi Press Agency reported. He also noted that the Kingdom's airports are on track to exceed one million tons of air freight for the first time, with expectations to reach 1.2 million tons by the end of 2024.

  • ADES says Saudi Aramco renews two onshore rigs for 10 years

    The $252 million renewals are for rigs ADES 13 and ADES 14, and the contract extension will "commence immediately upon expiry of the rigs' current firm tenor," the company said. The two rigs have been operating in Saudi Arabia since 2019, the company said in a statement. ADES has recently struck deals in Southeast Asia and Kuwait. In Southeast Asia, ADES acquired two jackup rigs worth $190 million from Vantage Drilling International, marking the Saudi energy service company's entrance into the Malaysia-Thailand joint development area, the company said Sept. 9.

  • Saudi Arabia hosts Regional Trade Policy Course for Middle East participants

    Saudi Arabia, represented by the General Authority of Foreign Trade, is hosting the Regional Trade Policy Course for Middle Eastern countries. Organised in collaboration with the World Trade Organization and King Saud University, the course will run from October 13 to December 5. The eight-week course is designed for government officials from Middle Eastern countries to exchange information, expertise, and enhance communication. It focuses on deepening participants' understanding of the economic and legal aspects of World Trade Organization rules, controls, and procedures.

  • Saudi Arabian film sector can lead on innovation, says agent David Unger

    Speaking at a panel entitled ‘The Growth of International Content and Potential Investment Opportunities’ which took place during the second edition of Saudi Film Confex in Riyadh (October 9-12), Ungar described the energy of Saudi creatives as “like nothing I’ve seen anywhere in the world." “Hollywood has made films the same way for over 100 years, but digital technology has changed those rules,” he said. “That is what is exciting about a country like Saudi Arabia, because it has the support and enthusiasm of the government but it is not beholden by the old systems. It’s going to be AI first, mobile first, all of that innovation is going to come from here.”

  • Hyatt debuts two hotels in Saudi Arabia

    The brand-new Park Hyatt Jaumur and Andaz Jaumur Marina, set to open in 2027, will offer a combination of 350 rooms and suites. Park Hyatt Jaumur will sit at the community’s vibrant epicentre, overlooking the marina. Designed as an oasis of relaxation with 125 rooms, Park Hyatt Jaumur will serve to seamlessly blend entertainment, leisure, and cultural experiences. Andaz Jaumur Marina will be a 225-key project with a blend of rooms and suites.

  • Saudi Ports Authority sees fewer containers in September

    The total number of handled containers amounted to 673,124 TEUs, marking a decline of 8.08% compared to the same month last year, with transshipment boxes showing a decrease of 42.98%, reaching 159,511 TEUs.  Additionally, the total general cargo amounted to 975,406 tons, solid bulk cargo to 4,473,019 tons, and liquid bulk cargo to 15,277,608 tons. Meanwhile, the ports received 343,952 cattle heads, marking a decrease of 35.58% compared to 533,948 cattle heads in the same period of 2023.

  • Saudi real estate: Best-performing areas, price rises and increase in sales

    In the 12 months to Q2 2024, Saudi Arabia’s residential transactions across the three major cities of Riyadh, Jeddah, and Dammam Metropolitan Area (DMA) recorded annual improvements in transaction volumes by 51.6 per cent, 43.2 per cent and 22.4 per cent, respectively. “Riyadh particularly is demonstrating attributes of an undersupplied market, driven by strong employment and population growth on the back of government investment projects, resulting in very tight supply in certain areas of the market as new deliveries fail to keep pace with the robust housing demand”.

  • Saudi Arabia’s Muvi Studios Locks Deals at Saudi Confex Including on Hotly Anticipated Satire About ‘Chaotic World’ of Local Stardom

    Muvi Studios, the production arm of Saudi Arabia’s leading exhibition chain, have announced a slew of deals during the ongoing Saudi Film Confex confab, including a partnership with local label Sirb Production on hotly anticipated social satire “Lail Nahar,” directed by local hitmaker Abdulaziz Almuzaini.

  • Gulf Countries Seek to Avoid Getting Drawn Into the Israel-Iran Confrontation

    The three GCC countries with a recent history of disputes with Iran are the ones most concerned. The United Arab Emirates, which is extremely vulnerable to missile attacks, and Saudi Arabia are particularly anxious to avoid any involvement in Israel’s expected retaliation. In meetings with Iranian President Masoud Pezeshkian on the sidelines of an Asia conference in Doha and, most significantly, Foreign Minister Abbas Araghchi’s highly significant October 9 visit to Riyadh, both sides made their positions unequivocally clear. Iran stated that any overflight, with or without cooperation, would be “unacceptable” and invite potential retaliation, presumably including military reprisals. For their part, Saudi Arabia and the other Gulf Arab countries expressed their neutrality in the bilateral Israeli-Iranian confrontation and their determination not to take sides in any way.