My pick: Saudi Roundup: $33B in Project Awards & Industrial Expansion

This week’s Saudi Roundup highlights $33 billion in project awards, new hospitality investments, real estate expansion, and developments across financial services, industrial manufacturing, and public-private partnerships.

General Economy & Business

Saudi Arabia Announces First Batch of Hospitality Investment Projects Worth $1.78 Billion

Saudi Arabia has approved 19 hospitality investment projects across five tourism destinations under its Hospitality Investment Enablers Program. The projects are expected to attract SAR 6.7 billion ($1.78 billion) in investments and generate more than 17,000 jobs. The participating destinations include Al-Baha, Al-Ahsa, Jeddah, Asir, and the Eastern Province.

Engineering, Construction & Real Estate

Saudi-Chinese Consortium Wins $306 Million Qiddiya Stadium Contract

A Saudi-Chinese consortium has secured a SAR 1.15 billion ($306 million) contract to design, supply, and install curtain-wall facades at Prince Mohammed bin Salman Stadium in Qiddiya, which is planned to host matches during the 2034 FIFA World Cup. The award comes as Saudi Arabia continues to advance its Vision 2030 economic diversification agenda, maintaining investment in strategic development projects to support long-term economic growth amid regional tensions.

ZWSOFT and Logicom Saudi Arabia Partner to Expand Access to CAD Solutions

ZWSOFT, a global engineering design software provider, has appointed Logicom Saudi Arabia as its distributor in the Kingdom to broaden access to professional computer-aided design (CAD) solutions. The partnership combines ZWSOFT’s software expertise with Logicom’s distribution capabilities and local partner network to serve Saudi Arabia’s architecture, engineering, and construction (AEC) sector.

Arada Establishes Arada KSA to Expand into Saudi Arabia, Backed by AED 49 Billion Land Bank

Real estate developer Arada has launched Arada KSA, a new company established in partnership with XTOPIA, a community and lifestyle developer specializing in integrated mixed-use destinations. The new entity will oversee the development of large-scale residential communities across Saudi Arabia, marking the latest phase of Arada’s international expansion. The company’s development pipeline is valued at AED 185 billion ($50 billion) across five markets.

Financial Services

SC Ventures Invests in Vrtx to Expand Embedded Finance Infrastructure in Saudi Arabia

SC Ventures, Standard Chartered’s innovation and fintech investment arm, has invested in Vrtx, a Saudi-based embedded finance infrastructure platform, to support its next stage of growth in the Kingdom. Subject to regulatory approval, Vrtx plans to help businesses integrate financial services such as digital wallets, card issuance, payment processing, payouts, and identity verification (KYC) into their products through a modular platform and APIs. The solution aims to give companies across sectors including fintech, logistics, and HR access to financial infrastructure without requiring them to build and maintain these capabilities in-house.

Go Energy Group and SARCO Announce Low-Carbon Fuels Project in Saudi Arabia

Go Energy Group, through its parent company Go Energy USA Corporation, has entered into a strategic agreement with Clean Energy Co., a Saudi company within the listed Ethraa Group working alongside its subsidiary SARCO to develop a low-carbon fuels project in Saudi Arabia. The export-focused project will target markets in Europe and Asia, with initial production capacity planned at approximately 50,000 tonnes annually.

Industrial Manufacturing

Saudi Arabia’s Factory Numbers Rise 19%, Hotels Increase 32%

The number of factories operating in Saudi Arabia’s industrial cities grew by 18.9% in 2025, while the Kingdom’s hotel count rose by 31.6% to 2,847. Nearly 800 factories were added during the year, bringing the total to 4,938 across 36 industrial cities. Hotel rooms exceeded 491,000 by year-end, while travel and tourism agencies increased by more than 400 to reach 3,177.

Tenders & Contract Awards

Saudi Arabia Awards $33 Billion in Projects in First Nine Months of 2026

Saudi Arabia awarded 99 projects valued at SAR 123 billion ($33 billion) between January and September 2026, as the Kingdom continues to advance its economic diversification agenda and attract investment. The awards averaged around $3.6 billion per month and spanned several sectors, including energy, industry, construction, energy, and water.

Saudi Arabia Launches RFP for National Dialysis Services PPP Project

Ministry of Health and the National Center for Privatization & PPP have launched the request for proposals (RFP) phase for the Chronic Kidney Disease Care and National Dialysis Services project, structured as a public-private partnership (PPP). The RFP was issued on October 19, 2026, following the prequalification of 12 bidders on October 4, comprising five consortia and seven individual companies.