This week, Saudi Round-Up spotlights discoveries of 5,651 mining sites, $2.35bn Modon deals, and strategic expansions in aviation, MICE and AI sectors.
General Economy News
Saudi Arabia To Localize 12 Jobs In Private Sports Centers And Gyms After One Year
Saudi Arabia will implement localization of 12 jobs in private sector sports centers and gyms at a 15% Saudization rate for establishments with four or more employees, effective November 18, 2026. The 12 localized positions include sports coach, professional football coach, sports supervisor, personal trainer, and professional athletics coach in men’s and women’s facilities.
Circular Economy
Saudi Recycling Sector Offers A High-Return Investment Opportunity With 3m Tons Of Paper Waste A Year
Saudi Arabia generates nearly 3 million tons of paper waste annually with only a 50% recycling rate, presenting significant investment opportunities, according to experts at the second International Paper and Packaging Industry Exhibition in Jeddah. The wastepaper market remains underutilized and dominated by individual brokers who purchase waste from factories at SR500-SR800 per ton and resell to recycling plants at higher prices, while recycled paper sells for SR3,500-SR3,800 per ton.
Survey Shows 40.8% Of Saudi Households Want To Adopt Solar Energy
Over 40% of Saudi households expressed interest in adopting solar energy as a primary power source, according to the General Authority for Statistics’ 2024 Household Energy Statistics. The survey revealed that 91.5% of households prioritize reducing electricity consumption, while 91.9% adhere to energy-saving guidelines when using electrical appliances. Additionally, 56.6% of households indicated willingness to replace older appliances with more energy-efficient alternatives.
Industrial & Mining
Modon Inks Multiple Deals Worth $2.35bn At Global Industry Summit
The Saudi Authority for Industrial Cities and Technology Zones (Modon) signed contracts and memorandums of understanding valued at SR8.8 billion ($2.35 billion) at the Global Industry Summit in Riyadh to develop Saudi Arabia’s industrial and logistics sector. The agreements cover 3.3 million square meters of industrial and logistics projects, aligning with the National Industrial Strategy and Vision 2030 goals to establish the Kingdom as a regional hub for industry and logistics.
Mining Site Discoveries Reach 5,651 In 2024
Saudi Arabia identified 5,651 mineralization sites in 2024, with non-metallic deposits dominating at 54.1% (3,058 sites), followed by metallic minerals at 42.9% (2,423 sites). Mining licenses grew 21% from 2016 to 2024, reaching 2,401 licenses, with building materials quarries comprising the largest share at 1,481 licenses.
Food & Beverages (F&B)
Food Services Market Expected To Reach $45bn By 2030
Saudi Arabia’s food services market is projected to grow from $30.12 billion currently to $44.67 billion by 2030, representing an 8.20% compound annual growth rate. The market encompasses the entire supply chain from agricultural production to restaurants and cafes.
Meetings, Incentives, Conferences and Exhibitions (MICE)
MICE Summit Opens In Riyadh With 20 Deals To Boost Vision 2030
Twenty agreements and memoranda of understanding (MoUs) were signed on the first day of the International MICE Summit in Riyadh, supporting the objectives of Vision 2030. Hosted by the Saudi Conventions and Exhibitions General Authority, the event convened companies with combined global revenues exceeding $9 billion in the MICE sector.
More Than 20 Agreements Signed At Sand & Fun Worth $66.7m
More than 20 agreements valued at SR250 million ($66.7 million) were signed at the Saudi General Aviation Airshow 2025 (Sand and Fun), covering equipment sales, spare parts purchases, and undisclosed commercial deals. Ahmed Al-Fahaid, board member and general supervisor of the Saudi Aviation Club, revealed a major undisclosed agreement with investors in future aviation and drones expected to exceed SR7 billion, with details to be announced within two months.
German Trade Show Company Dental Exhibition to Ramp Up Saudi Expansion
German exhibition and trade show company Koelnmesse is launching a fourth exhibition in Saudi Arabia in 2026, following the success of its first three shows in the Kingdom. The company, which conducts more than 80 trade fairs in Cologne and globally across various industries, identified Saudi Arabia as a prime location for expansion. Koelnmesse currently operates across numerous sectors, including food, furniture, art, and digital entertainment, and began developing satellite shows outside Germany around the turn of the century.
Business Expansions
UBP Reveals Plans To Support Vision 2030 With New Office In Riyadh
Geneva-based Union Bancaire Privée launched its first office in Riyadh, marking a strategic expansion into Saudi Arabia’s evolving wealth management sector. The family-owned bank aims to establish itself in the Kingdom’s financial landscape by collaborating with local banks, families, and next-generation wealth holders during the nation’s Vision 2030 transformation.
Ashok Leyland Expands Into Saudi Arabia
Ashok Leyland established a wholly owned subsidiary in Saudi Arabia to tap into the expanding Middle East commercial vehicle market. The expansion represents a significant step in enhancing Ashok Leyland’s international footprint and capitalizing on the growing demand for commercial vehicles in the region.
Wanclouds Launches AI Assistant To Transform IT & Cloud Infrastructure Management, Announces Expansion Into Saudi Arabia
Silicon Valley-based Wanclouds Inc. launched its AI Assistant globally to transform enterprise management, monitoring, and security of cloud, on-premise, and edge infrastructures. Concurrently, Wanclouds announced strategic expansion into Saudi Arabia to support Vision 2030’s digital transformation agenda and growing demand for AI-driven cloud modernization.
S Korea’s Future Play Inks MoU With Saudi For Mideast Expansion
FuturePlay, a South Korea-based investment and accelerator firm, signed a memorandum of understanding with Saudi Arabia’s Ministry of Investment to facilitate Korean startup entry into the Middle East market. The agreement encompasses joint support for FuturePlay-backed startups and others expanding to Saudi Arabia, along with collaborative investments in healthcare, fintech, logistics, AI, and advanced manufacturing sectors. Both parties will cooperate on Saudi Stars, a program supporting Saudi Arabian entrepreneurs. This represents the first MOU between the Saudi ministry and a Korean venture capital firm.