This week’s Saudi Round-up highlights the continued growth of the Kingdom’s business sector, SME financing, and its rise as a regional headquarters for companies from global markets, including China and beyond.
General Economy
Business Sector Surpasses 1.7 Million Commercial Registrations by Q3 2025
Business registrations exceeded 1.7 million by the third quarter of 2025, driven by strong growth across logistics, e-commerce, virtual and augmented reality, gaming, hospitality, and exhibitions. Limited liability companies saw a 158% rise. Riyadh and Makkah led in new licenses issued, reflecting a vibrant entrepreneurial ecosystem aligned with Vision 2030’s economic diversification and ease-of-doing-business reforms.
Saudi reaches 79% Cashless Transaction Rate in 2024
Saudi surpassed its target for cashless transactions, reaching 79% in 2024. The fintech sector now includes more than 280 companies, supported by regulatory reforms, digital payment systems, and open banking initiatives. SAMA’s adaptive regulatory framework ensures market stability while promoting innovation and financial inclusion—solidifying the Kingdom’s position as a leading global fintech hub under Vision 2030.
Kafalah Program Boosts SME Financing by 8% in Q3 2025
The Kafalah SME financing guarantee program increased its support by 8% to reach SR14 billion, benefiting over 4,300 SMEs. The program is accelerating economic diversification by expanding access to finance, particularly in the entertainment sector, where funding nearly doubled year-on-year. Kafalah’s impact aligns directly with Vision 2030’s objective to empower and grow the private sector.
South Korea and Saudi to Enhance Cooperation in Smart Cities
Saudi Minister of Municipal and Rural Affairs and Housing Majed Al-Hogail visited South Korea to strengthen cooperation in smart cities and housing. The visit aims to advance digital transformation, enhance urban planning, and promote social responsibility, all in line with Vision 2030. Collaboration includes leveraging digital twin technologies and artificial intelligence to develop sustainable, efficient, and resilient cities.
Expansions
Apparel Group Expands in Saudi Through Strategic Partnership with Arabian Alesaar Group
Apparel Group signed a strategic partnership with Arabian Alesaar Group to bring 24 international brands—including Calvin Klein, Tommy Hilfiger, and Levi’s—to over 9,000 m² in Riyadh’s Al Shubaily Grand Mall. This reflects the Group’s long-term commitment to strengthening its retail presence in Saudi Arabia, driving retail innovation, job creation, and customer experience in line with Vision 2030’s goals for a dynamic retail sector.
Chinese Newspaper People’s Daily Opens Regional Office in Riyadh
Saudi Arabia’s Minister of Media inaugurated the regional office of China’s newspaper, People’s Daily, in Riyadh, marking a milestone in bilateral media cooperation. The new office will promote joint media strategies, cultural exchange, and mutual understanding—supporting Vision 2030’s goals of developing a vibrant, internationally connected media landscape.
Universal Aviation Expands to Saudi with Flagship Locations in Riyadh, Jeddah, and Dammam
Universal Aviation, a leading FBO and ground services provider, announced its first Middle East expansion into Saudi Arabia. Flagship Fixed Base Operations (FBOs) will open at Riyadh King Khalid International Airport, Jeddah King Abdulaziz International Airport, and Dammam King Fahd International Airport starting early 2026.
Sports
Saudi Eyes Becoming NFL’s Next Overseas Destination
Saudi Arabia is positioning itself as a future hub for the NFL’s global expansion, with plans to host a star-studded flag football tournament in March 2026 featuring NFL legends Tom Brady, Rob Gronkowski, and Saquon Barkley. The initiative aligns with the Kingdom’s broader ambition to host major international sports events, including WrestleMania 2027 and the FIFA World Cup 2032, backed by the Public Investment Fund to enhance sports tourism, infrastructure, and global visibility.
Mining
Saudi to Establish National Scrap Metal Company
The Kingdom plans to establish a national scrap metal company to reduce imports and strengthen local steel manufacturing, unlocking investment opportunities worth SR60 billion ($15.6 billion). The initiative includes a steel academy for talent development and focuses on sustainability and innovation—enhancing competitiveness and addressing supply gaps amid shifting global supply chains.
Industrial
Riyadh Leads Kingdom’s Industrial Rental Growth in Early 2025
Riyadh’s warehouse occupancy reached 98%, with industrial rents rising 16% to SR208 per sq. meter, driven by demand for modern logistics and specialized facilities. Major tenants include Apple and Google. Jeddah and Dammam also recorded strong rental growth supported by infrastructure investments. Policies like the White Land Tax continue to strengthen the manufacturing and logistics sectors, advancing Vision 2030’s diversification and export ambitions.
Tourism
Tourism Ranks as the 4th Largest Employer in Madinah
Tourism has become the fourth largest employer in the Madinah region, accounting for 11% of total jobs in the first quarter of 2025. The occupancy rate for serviced apartments reached 48.7%, reflecting robust demand for hotel and tourism services.
Entertainment
Joy Forum 2025 Sees SR4 Billion in Agreements
Joy Forum 2025 launched in Riyadh with investment deals exceeding SR4 billion ($1.07 billion) and landmark partnerships with global entertainment and sports icons, including UFC, Warner Music, and Tom Brady. The event underscores Saudi Arabia’s emergence as a global entertainment powerhouse, fostering cultural exchange, innovation, and collaboration in line with Vision 2030.
META: Dive into the growing Saudi–South Korea smart city partnerships, the Kingdom’s dynamic rise as a powerhouse in entertainment and tourism, and the recent launch of its new national mining company.