This week, Saudi Round-Up highlights major projects like Dammam Global City, Red Sea tourism targets, and new regional HQs for gaming and digital firms.
General Economy
New Zealand–Saudi Arabia Business Council Established Following $100M Trade Boost
Saudi Arabia and New Zealand have signed a joint statement to create the New Zealand–Saudi Arabia Business Council, designed to deepen bilateral trade and investment ties. This initiative follows the signing of five new commercial partnerships between companies from both countries, collectively valued at more than $100 million and covering sectors such as nutrition products, premium fruit production, animal health/management, and creative/entertainment industries.
Dammam Global City to Open Late in November
The first phase of the Dammam Global City project—located between Dammam and Qatif near the Abu Hadriyah Road in the Eastern Province—is set to launch by the end of November. This massive development spans over 600,000 square meters and includes an artificial lake of approximately 240,000 square meters. Phase 1 investment is around SAR 200 million, with total investment across all phases expected to exceed SAR 600 million.
Biban25
Saudi grants Premium Residency to Over 100 Entrepreneurs at Biban 2025
During the Biban 2025 forum held in Riyadh, the Premium Residency Center granted Premium Residency to more than 100 entrepreneurs from over 20 countries. The “Entrepreneurship Residency” category is designed for founders of innovative, tech-driven startups who plan to grow their ventures within the Kingdom. The program offers various residency options—including Exceptional Competence, Talent, Business Investor, Property Owner, Limited‑Duration, and Unlimited‑Duration—allowing holders and their families to live, work, own property, and conduct business without the need for a local sponsor.
Biban Forum 2025 Concludes with Over $10B in Agreements
The four-day Biban Forum 2025, organized by Monsha’at (the Small & Medium Enterprises General Authority of Saudi Arabia), wrapped up in Riyadh, having drawn over 100,000 visitors and secured more than SAR 38 billion (roughly $10 billion) in agreements.
The forum featured more than 200 local and international speakers, over 80 workshops, 2,150 consultations, and 1,000 mentorship sessions. It also saw participation from organizations in Japan, Korea, Thailand, Singapore, India, Sweden, and France.
Business Expansions
Yalla Group to Open Regional Headquarters in Riyadh
Yalla Group, the largest online social-networking and gaming company based in the MENA region, has announced plans to establish a new regional headquarters in Riyadh. The new office is slated to launch in the first half of 2026 at Riyadh’s Roshn Front.
Morgan Lewis & Bockius Opens new Riyadh office
Morgan Lewis & Bockius has officially opened a new full‑service office in Riyadh, marking its third office in the Gulf, joining bases in Dubai and Abu Dhabi. The Riyadh office will enhance support for institutional investors—including sovereign wealth funds, asset managers, family offices, and multinationals—on cross-border deals, financings, and disputes, while strengthening ties with Saudi-based clients.
80% of Global Firms Plan Expansion in the Kingdom
According to the HSBC “New Networks of Capital: Saudi Arabia” report, around 80 % of international companies surveyed intend to enhance their trade and investment presence in Saudi Arabia over the next five years.
The survey, which covered 4,000 decision‑makers from companies generating $50 million to $500 million in revenue across eight key markets, found that more than 60 % of respondents aim to increase their engagement within the Kingdom in the next six months.
ESL FACEIT Group Opens Regional Office in Riyadh
ESL FACEIT Group (EFG), the global esports and gaming entertainment company, has launched a new regional headquarters and flagship esports venue in Riyadh. The hub will serve as a venue for both local tournaments, such as the ESL Saudi Challenge, and international competitions, and will focus on building local talent by recruiting for roles in broadcast production, content creation, Arabic localization, event operations, and community management.
Real Estate
Non‑Saudis Can Own Only Registered Properties
The Real Estate General Authority (REGA) has announced key implementation guidelines for the newly approved law on real‑estate ownership by non‑Saudis, effective January 2026. Under the law, non‑Saudi individuals, companies, or entities may own property only if it is properly registered. Ownership applies to five categories: non‑Saudi individuals, non‑Saudi‑owned companies, Saudi firms with foreign ownership, non‑profit entities, and diplomatic missions.
Riyadh Office Rents Surge 15% as Reforms Boost the Saudi Property Market
Office rental rates in Riyadh have climbed roughly 15 % year‑on‑year, with occupancy reaching about 98 %, according to a recent Q3 2025 market review by real‑estate advisory firm CBRE Group. This spike is being driven by the Kingdom’s wider economic diversification efforts under Saudi Vision 2030, which include regulatory reforms, major long-term investment commitments ($1.55 trillion) and incentives aimed at attracting regional headquarters of multinational firms.
Technology
Saudi to Showcase $14.9 Bn Tech Investment at Web Summit 2025
The Kingdom, through Invest Saudi, will highlight $14.9 billion of existing technology and digital‑economy investments when it presents at the Web Summit 2025 in Lisbon.
Saudi infrastructure highlights include 1,300 MW of data‑center capacity and 20 subsea cables linking East and West, underpinning the country’s ambition to build an innovation and AI hub. The digital economy is projected to reach $76 billion by 2030, with tech deployments and e‑commerce playing central roles in the Kingdom’s broader Saudi Vision 2030.