Last week saw a host of corporations from various global markets announcing their entry into the Kingdom. This weekly edition of Saudi Round-Up sheds light on recent expansions and landmark projects in the industrial, financial and maritime sectors.
Banking and Finance
Asset Management Sector Reaches $266 Billion
Saudi Arabia’s asset management industry hit $266 billion, growing 20% YoY in 2024. The market is projected to exceed $346 billion by 2026, fueled by favorable demographics, financial reforms, and digital tools.
Half of the assets are in private funds, with a strong tilt toward real estate and equities. The Kingdom’s rise as a global investment hub is reinforced by new entrants like BlackRock and Goldman Sachs, while rising demand for Shariah-compliant funds reflects a local appetite for ethical finance solutions in a fast-evolving financial ecosystem.
Construction
$1.4 Billion Construction Contract Signed for Diriyah Opera House
Diriyah Company signed a $1.4 billion construction deal with firms from Saudi Arabia, Qatar, and China to build the Royal Diriyah Opera House. Designed by renowned architects and packed with performance venues, the site will host over 3,000 people and become Saudi Arabia’s largest opera theater.
The project elevates Diriyah’s role in shaping the national cultural scene and contributes to Vision 2030’s creative economy goals. It also complements earlier 2025 announcements, including the Media and Innovation District and new architecture contracts, forming part of a broader plan to transform Diriyah into a global cultural capital.
Energy & Sustainability
$106.6 Million Desalinated Water Project Expands Access in Riyadh
Saudi Arabia’s National Water Company has completed a $106.6 million desalinated water project that now supplies key areas west of Riyadh, including Dhruma, Al Muzahimiyah, and Al Qiddiya. The infrastructure includes 172 km of pipelines and six reservoirs.
This project improves water service quality for over 270,000 residents and supports the Kingdom’s broader plans for urban expansion. It’s a step toward sustainable water security, critical for population growth and the infrastructure demands of Vision 2030.
Expansions
Bain Expands Riyadh Presence with New Regional Headquarters
US-based management consulting firm Bain & Co. opened a new regional HQ in Riyadh’s King Abdullah Financial District. This marks its third location in the capital and signals its long-term commitment to the Kingdom’s rapidly growing consulting market.
This expansion strengthens Saudi Arabia’s position as a hub for multinational firms under Vision 2030. With tax exemptions and regulatory incentives, the Kingdom continues to attract global players focused on innovation, talent, and economic diversification.
50 UK Firms Choose Saudi Arabia for Regional Headquarters
50 British companies have recently established regional headquarters in Saudi Arabia, building on the presence of over 1,300 UK firms. This momentum reflects the Kingdom’s appeal as a high-potential market and long-term partner.
These developments strengthen economic ties, with bilateral trade exceeding $22.5 billion and major hydrogen, infrastructure, and clean tech projects. UK firms are contributing directly to giga-projects like NEOM, while benefiting from Vision 2030-driven opportunities.
Blacklane Launches in Saudi with Luxury Chauffeur Services and Local Training
Blacklane has announced its entry into the Saudi market, offering luxury chauffeur services as part of its broader Middle East growth strategy. The company aims to introduce electric vehicles and launch a Chauffeur Academy for local driver training.
This expansion supports Vision 2030 by promoting sustainable mobility, local job creation, and high-end service infrastructure. Backed by TASARU Mobility Investments, Blacklane’s model helps redefine premium transport in the Kingdom.
AKDITAL Sets $200M Healthcare Expansion in Saudi Arabia
Moroccan healthcare giant AKDITAL is entering Saudi Arabia with a $200 million investment to build private hospitals in Riyadh and Jeddah. The project, backed by Saudi investment partners and the Ministry of Investment, will see new healthcare infrastructure operational by 2027.
This marks AKDITAL’s first step into international markets, aligning with Vision 2030’s focus on improving healthcare access and attracting foreign expertise. The expansion is part of a broader plan that includes four new hospitals in the Gulf region by 2030.
Dyson Scales Up in Saudi Arabia with New Stores and Tech-Driven Demand
Dyson is deepening its Saudi footprint, opening new stores including one in Jeddah’s Red Sea Mall, driven by a rising demand for premium tech and personal care solutions. Another store is set to open this summer.
With Vision 2030 fueling growth in tech and retail, Dyson is positioning itself as a go-to for high-performance solutions. From air purifiers to hair stylers, the brand is meeting local demand with tailored, tech-forward shopping experiences.
Hospitality
Tourism Hospitality Licenses Jump 330% in 2024
According to the Ministry of Tourism, private hospitality facility licenses surged from 1,900 to 8,300 in 2024, a remarkable 330% increase from 2023. This sharp rise highlights investor confidence and the Kingdom’s growing appeal as a tourist destination.
The total number of licensed facilities now stands at 4,425, marking an 89% year-on-year increase. It reflects the Kingdom’s ongoing efforts to expand tourism infrastructure as part of Vision 2030’s drive to diversify the economy and attract millions of visitors.
FHS 2025 to Showcase Investment Opportunities in Hospitality Sector
According to the Future Hospitality Summit Saudi Arabia, over $1.1 billion in opportunities were unlocked last year through 17 deals. This year’s event aims to surpass that, gathering investors and government leaders to scale hospitality assets aligned with Vision 2030 goals.
Firms like Taiba, Al Khozama, Baraka, and AlNahla are driving high-end developments across Jeddah, Madinah, Riyadh, and beyond. Their focus on luxury hotels, mixed-use hubs, and sustainable, culturally integrated projects shows how hospitality is redefining Saudi Arabia’s urban future and supporting the nation’s pivot toward tourism and economic diversification.
Luxury Living Arrives at The Red Sea with Laheq Island
Red Sea Global revealed Laheq Island as the first residential destination within its vast archipelago. The 400-hectare island offers white sand beaches, access to coral reefs, and luxury living built around a lagoon with high-end residences, hotels, and retail. A massive 800-meter “Ring” structure anchors the development.
This signals a shift from resort-only tourism to integrated living, aligned with Vision 2030’s quality of life and diversification goals. The island will run fully on renewable energy, contribute to reef regeneration, and house premium amenities like a marina, golf course, wellness resorts, and a traditional souq.
Maritime
Saudi Arabia Poised to Lead $8 Billion Feeder Shipping Market by 2030
Saudi Arabia could command 45% of feeder trade in the Red Sea and 35% in the Gulf by 2030. Backed by robust port investments and the JRS service, the Kingdom is cementing its role in streamlining maritime logistics across the region.
As container traffic through the Red Sea doubles and feeder vessels boost trade efficiency, Saudi Arabia is no longer a peripheral player. Vision 2030’s logistics strategy is positioning the Kingdom as a central hub in global trade, offering scalable returns and connectivity across critical East-West shipping corridors.
Mining
Saudi Arabia and Indonesia Sign MoU on Mining
Saudi Arabia signed a key MoU with Indonesia to deepen cooperation in mining, mineral exploration, and sustainable practices. The agreement focuses on joint expertise in modern mining technologies, geological surveying, and mineral processing.
This partnership strengthens economic ties and aligns with Saudi Arabia’s push to diversify its economy beyond oil. It also opens the door for mutual investments in industries like food, pharma, and automotive manufacturing.