This week, Saudi Round-Up takes stock of the progress made in the gaming, real estate, and culture sectors.
General Economy
Saudi and French Ministers Review $2.2B AlUla Partnership
Saudi Arabia and France reaffirmed their strategic partnership at a ministerial meeting in AlUla, focusing on deepening cooperation across cultural, educational, environmental, and economic sectors.
The joint committee highlighted achievements including over €2.2 billion in investments involving 400+ French companies in construction, infrastructure, and public services.
The partnership also covers education, hospitality, sports, and sustainable development projects such as the AlUla tram and the Sharaan Resort. These efforts support Saudi Vision 2030 goals to attract 1.2 million visitors, boost international investment, and preserve AlUla’s heritage.
Giga Projects Contracts Surge 20% to $196 Billion in 2025
Saudi Arabia’s giga-projects saw a 20% increase in contract awards this year, reaching $196 billion as the Kingdom accelerates development in real estate, infrastructure, and tourism under Vision 2030. Riyadh remains central to this growth with major projects like Diriyah Gate, King Salman Park, and the 220-km Sports Boulevard reshaping the city and supporting its population growth from 7 million in 2022 to an expected 10.1 million by 2030.
Western Saudi Arabia, home to Neom, the Red Sea Global project, and Qiddiya Coast, represents another key development area with $431.3 billion in investments announced since 2016.
Saudi Signs 5 Agreements With Vietnamese Firms
Saudi Arabia has signed five agreements with Vietnamese companies in construction, tourism, infrastructure, furniture manufacturing, and workforce training during the Saudi-Vietnamese Business Forum in Hanoi.
The deals aim to strengthen the Kingdom’s industrial sector and attract foreign investment aligned with Vision 2030. Saudi’s $1.92 billion investment in Vietnam spans energy, industry, and technology sectors. The agreements highlight opportunities in mining and industrial cooperation, supported by financing solutions from the Saudi Industrial Development Fund and the Export–Import Bank.
China’s Ori Group Establishes Regional HQ in Saudi
China’s Ori Group announced the opening of its regional headquarters in Saudi Arabia with an investment exceeding SR2 billion ($540 million), focusing on film, education, fashion, tourism, and cultural events. The Riyadh hub will drive growth in these sectors and position the Kingdom as a hub for international cultural investment, supporting Vision 2030’s efforts to diversify the economy and develop a sustainable cultural ecosystem.
Gaming
PIF Leads Investors in $55B Buyout of Games Maker Electronic Arts
The Public Investment Fund (PIF) is leading a $55 billion consortium to acquire video game maker Electronic Arts (EA), marking one of the largest leveraged buyouts in history.
The deal boosts Saudi presence in esports and gaming, sectors integral to the PIF’s diversification plans. EA will go private, delisting from stock exchanges, and aims to accelerate innovation globally. The transaction is expected to close in early 2027, supporting long-term growth and industry innovation.
Culture & Arts
KAFD and RCRC Sign Agreement to Launch First Phase of Riyadh Creative District
The King Abdullah Financial District Development and Management Co. signed a lease agreement with the Royal Commission for Riyadh City to host the first phase of the Riyadh Creative District (RCD) in three landmark buildings within KAFD.
The district will be a hub for media, cultural, and creative technology enterprises, supporting Vision 2030’s goals to position Riyadh as a global innovation and culture center. Earlier this year, the Italian fashion school Instituto Marangoni opened its Riyadh campus in the district earlier this year.
Cultural Development Fund to Create First Fashion Investment Fund
The Cultural Development Fund (CDF) announced its first dedicated fashion sector investment fund capitalized at SR300 million ($80 million). Managed by Merak Capital, the fund will accelerate investments in fashion companies, brands, supply chains, and related services, supporting economic diversification and job creation under Vision 2030. The announcement was made at the first Cultural Investment Conference in Riyadh, emphasizing culture as an economic driver.
Cultural Development Fund, Cultural Assets Group Launch $227M Cultural Investment Fund
The Cultural Assets Group launched an SR850 million ($227 million) private investment fund with SR200 million financing from CDF, targeting Saudi Arabia’s cultural sectors, including visual arts, fashion retail, digital content design, and emerging technologies. The fund aims to support sustainable cultural economy development, boost local companies’ global growth, and localize intellectual property and technologies through international partnerships.
Saudi Launches $270M Cultural Financing Product
The Cultural Development Fund unveiled its first co-lending product to unlock over SR1 billion ($270 million) for cultural projects via public-private partnerships. The product provides flexible financing to support expansion and startups in cultural industries, involving five leading Saudi financial institutions.
Saudi Cultural Development Fund to Establish a $100M Film Sector Investment Fund with BSF Capital
The Cultural Development Fund signed an agreement to establish an SR375 million ($100 million) dedicated film sector investment fund managed by BSF Capital, expanding investment in the Kingdom’s film production, distribution, and infrastructure.
Handcrafts Sector Worth $405 Million
The handicrafts sector is currently valued at $405 million, with local crafts representing 20% of the market. The Fashion Commission’s white paper, Craftonomics in Fashion: How Handicrafts Are Reshaping the Global Fashion Economy, highlights the sector’s cultural and economic importance as part of the Ministry of Culture’s 2025 Year of Handicrafts initiative.
The report emphasizes the blend of heritage preservation with industry growth, noting that over 5,000 artisans, primarily women, are registered on the Heritage Commission’s Abde’a platform, producing thousands of items for various markets.
Construction & Real Estate
Dar Global Unveils $1B Trump Plaza Jeddah
Dar Global revealed plans for Trump Plaza Jeddah, a $1 billion mixed-use development featuring premium residences, serviced apartments, and office spaces. This follows the launch of Trump Tower Jeddah and aims to transform Jeddah’s skyline while supporting the luxury real estate sector’s growth under Vision 2030. The project is strategically located along King Abdulaziz Road and highlights Dar Global’s expanded footprint and partnership with the Trump Organization.
Accor to Develop Portfolio of Over 3,000 Keys in Saudi Arabia
Accor signed a master development agreement with BinDawood Investment to develop over 3,000 hotel keys across Saudi, including major projects in the Holy Cities of Madinah, Makkah, and Jeddah. The portfolio will include premium, midscale, and economy brands, with flagship hotels opening between 2027 and 2029, supporting the Kingdom’s tourism and hospitality growth agenda.
Saudi Enforces New Housing Support Regulations
New housing support regulations in Saudi Arabia outline strict eligibility and financial criteria, including a points-based system prioritizing families based on size and financial need.
Applicants must be at least 20 years old (with exceptions), and beneficiaries must not own suitable housing at the time of application. The rules aim to enhance the accessibility and fairness of the housing support program under Vision 2030.
Hospitality
Madinah Tops Saudi Cities in Hospitality Occupancy Rate, Reaching 74.7% in H1 2025
Madinah led all Saudi cities with a 74.7% occupancy rate in tourist hospitality facilities during the first half of 2025, according to the Ministry of Tourism. This reflects strong demand linked to religious tourism and Vision 2030’s focus on boosting the hospitality sector in key cities.