This weekly edition shines a spotlight on the expanding aviation, real estate and financial markets.
General Business News
Saudi Arabia, South Africa Expand Economic Ties
Saudi Arabia and South Africa agreed to deepen cooperation in trade, investment, energy, mining, and infrastructure during the 10th session of their Joint Committee held in Riyadh.
They also focused on enhancing collaboration in agriculture, healthcare, environment, and logistics, aligning with Saudi Vision 2030 programs.
PwC Unveils RHQ in Riyadh’s Laysen Valley
Professional services firm PwC has inaugurated its new 22,400 square meter regional headquarters in Riyadh’s Laysen Valley. PwC has highlighted its commitment to Saudi Arabia by employing over 2,600 professionals, with 56 percent Saudi nationals, advancing Saudization through extensive training and leadership development programs.
Aviation
PIF’s Neo Space Group to Acquire Display Interactive to Enhance In-Flight Connectivity
The Public Investment Fund-backed Neo Space Group (NSG) is set to acquire Display Interactive (DI) to boost in-flight connectivity services for passengers and airlines.
The integration of DI’s technology with NSG’s satellite communications aims to provide faster, more reliable in-flight internet, real-time entertainment, and improved airline operational efficiency. This acquisition aligns with Saudi Arabia’s Vision 2030 goals to expand aviation and digital infrastructure, targeting 330 million passengers and 4.5 million tons of air cargo by 2030.
Industrial
Industrial Output Jumps 6.5% in July on Mining, Manufacturing Growth
Industrial production increased by 6.5% year-on-year in July 2025, driven by solid growth in the manufacturing and mining sectors, according to the General Authority for Statistics (GASTAT).
The Industrial Production Index rose to 111.5 from 110 in June, reflecting progress aligned with Vision 2030’s economic diversification goals. Manufacturing saw a 7% annual increase, boosted by a 13.8% rise in coke and refined petroleum products output, while chemicals production grew by 8.9%.
Electric Vehicles (EVs)
Jeddah to get new EV Charging Stations
Jeddah’s electric vehicle charging network is set to expand following a memorandum of understanding between Jeddah Transport Co. and Electromin, the mobility subsidiary of Petromin. The partnership will focus on site assessment, design, installation, and operational support for new EV charging stations across Saudi Arabia’s second-largest city.
Energy
PIF Signs MoU with Macquarie to Boost Infrastructure, Energy Transition Investments
The PIF has signed a non-binding MoU with Macquarie Asset Management to explore joint investments in infrastructure and energy transition projects, including digital infrastructure, electric vehicle charging networks, and energy storage.
Macquarie plans to open a regional office in Riyadh as part of the agreement, which aims to attract global capital and expertise to accelerate Saudi Arabia’s infrastructure pipeline aligned with Vision 2030.
Financial Markets
Al Murjan Group and BlueFive Capital Launch Sharia-Compliant Asset Management Investment Platform
Al Murjan Group and global investment platform BlueFive Capital have formed a strategic partnership to co-develop a global platform for Islamic finance, including reciprocal minority stakes in each other’s Sharia-compliant asset management units—Sidra Capital and BlueFive786.
BlueFive786, based in Singapore, aims to offer Sharia-compliant investment products predominantly in Southeast Asia, while BlueFive plans to open an office in Riyadh to jointly manage investments in Saudi Arabia with Sidra Capital.
CMA Allows Crowdfunding of Debt Instruments Through Institutions Licensed for ‘Arranging’ Activities
The Capital Market Authority (CMA) has approved a regulatory framework allowing capital market institutions licensed for “arranging” activities to offer debt instruments, including sukuk, via securities crowdfunding platforms.
This follows a successful experimental phase starting in Q2 2021 and aims to expand fintech participation, deepen the debt instruments market, and enhance accessibility for issuers and investors.
Real Estate
Riyadh Housing Platform Launched to Offer Residential Land at SR1500 Per Sqm
The Ministry of Municipal and Rural Affairs and Housing launched a housing platform in Riyadh offering residential land plots at a price of SR1500 per square meter.
The platform aims to facilitate access to affordable housing by providing parcels of varying sizes to eligible beneficiaries.
Tourism
Saudi Attracts 32 Million Tourists in Summer 2025
Saudi Arabia attracted 32 million tourists during the summer of 2025, marking a record high in both visitor numbers and spending. This surge reflects the Kingdom’s successful efforts to boost its tourism sector as part of Vision 2030, with significant investments in hospitality, infrastructure, and major events.
Tourist spending reached new heights, driven by increased domestic and international arrivals.
Diriyah Co. Awards $5bn in H1 Contracts to Boost Tourism
Diriyah Co. has awarded contracts worth SR18.75 billion ($5 billion) in the first half of 2025, accelerating the redevelopment of the historic Diriyah capital.
Key projects include a SR5.1 billion joint venture for the Royal Diriyah Opera House, a SR4.23 billion contract for relocating King Saud University’s utilities and offices, and a SR5.75 billion contract for the Diriyah Arena. Additionally, a SR2.25 billion contract was awarded for Diriyah Square’s retail precinct with 400 units.