Saudi Roundup: Maritime & Industrial Expansion

This week's Saudi Roundup highlights deepening maritime cooperation with Qatar, major industrial investments in Sudair City, and continued foreign investor confidence in Saudi equities.

General Business & Economy

Saudi Green Building Sector Achieves Regional Leadership With 76.31 Points

According to the Saudi Green Building Forum's SAAF conformity and specifications system, Saudi emerged as a regional leader, achieving the highest performance score of 76.31 points and registering over 1.03 million square meters of certified areas. Secretary-General Faisal Alfadl emphasized that this evolution serves as a sustainable bridge toward the goals of Vision 2030.

Saudi Arabia And Kazakhstan Establish Coordination Council

Saudi Minister of Energy Prince Abdulaziz bin Salman and Minister of Foreign Affairs Prince Faisal bin Farhan met with Kazakhstan's Energy Minister Yerlan Akkenzhenov and Foreign Minister Yermek Kosherbayev in Riyadh.

Following the meeting, both officials formalized an agreement to launch the Saudi-Kazakh Coordination Council. Both parties noted that the council’s formation aligns with the vision of their respective leaders and highlights a mutual commitment to deepening bilateral ties.

Foreign Investors Pour SR1.7 Billion Into Saudi Stocks Following Market Opening

Foreign investors made net purchases of approximately SR1.7 billion ($453 million) in Saudi stocks last week, the second week after the market was opened to all categories of non-resident foreign investors.

The purchases came primarily from foreign institutions, including those qualified under the previous definition as well as institutions newly permitted to invest after the market opening that manage assets of less than $500 million.

Technology & AI

Humain Invests $3 Billion in xAI Ahead of SpaceX Acquisition

The PIF-owned AI company Humain has invested $3 billion in Elon Musk's xAI as part of the startup's Series E round, shortly before xAI was acquired by SpaceX in one of the largest technology mergers on record. As part of the deal, Humain's minority stake in xAI was converted into SpaceX shares.

Humain and xAI are committed to developing over 500 megawatts of next-generation AI data center and computing infrastructure in the Kingdom, alongside deploying xAI's Grok models locally.

Maritime & Logistics

Saudi Arabia And Qatar Sign Maritime Cooperation Agreement

The Saudi Ports Authority (Mawani) and Qatar Ports Management Co. signed a memorandum of understanding aimed at boosting maritime and logistics cooperation. The MoU outlines eight key areas of cooperation, including the exchange of best practices in port management and operations and studying opportunities for direct maritime and land connectivity between the two countries' ports to enhance trade efficiency.

MSC Inaugurates SR150 Million Logistics Center At Dammam Port

The Saudi Ports Authority and MEDLOG, the logistics arm of Mediterranean Shipping Co., inaugurated the company's integrated logistics center at King Abdulaziz Port in Dammam, with investments exceeding SR150 million ($39.9 million) across an area of 100,000 square meters. The center will provide advanced and smart logistics services, enhance the port's handling capacity, and boost regional and global competitiveness, supporting trade flows and strengthening the Kingdom's logistics standing.

Agriculture & Food Security

Saudi Arabia Partners With Ceva To Localize Veterinary Vaccine Manufacturing

The National Livestock and Fisheries Development Program signed a memorandum of understanding with French company Ceva. The agreement aims to localize vaccine manufacturing, transfer technology and technical expertise, and expand industrial and commercial production of veterinary vaccines across the Kingdom. The collaboration aims to meet the needs of the poultry vaccine market in the Kingdom, currently estimated at around SR750 million ($199 million).

Infrastructure & Real Estate

Industry Minister Inaugurates Advanced Factories in Sudair

Minister of Industry and Mineral Resources Bandar Alkhorayef inaugurated multiple advanced manufacturing facilities worth SAR 3 billion at Sudair Industrial City.

Notable projects include the Middle East's first medical foods factory, a biopharmaceutical plant, the region's largest chilled food facility (6 million units weekly capacity), an orthopedic devices manufacturer using 3D printing, and an automated construction panels factory.

Ministry to Launch Real Estate Indicators and Privatize 70% Of Municipal Assets

Minister of Municipalities and Housing Majid Al-Hogail announced that real estate indicators will be launched during the first quarter of this year to serve both citizens and investors. Based on these indicators, real estate balance programs will be activated across all cities of the Kingdom.

The ministry aims to privatize 70% of municipal assets to enhance quality of life, reduce government inefficiencies, and deliver improved services throughout the Kingdom's cities.

ROSHN Signs SR2.14 Billion Land Development Agreements In Riyadh

ROSHN Group, the PIF-backed real estate developer, has signed a series of land sale and development agreements in Riyadh valued at more than SR2.14 billion ($570.5 million) on the sidelines of the Restatex Real Estate Exhibition. The agreements were signed with several local developers to deliver residential and commercial projects within the Sedra and Warefa communities, covering a combined land area exceeding 72,000 square meters (sqm).

Business Expansions

Chinese Automaker Soueast Launches New Phase In Saudi Market

Chinese automaker Soueast announced the launch of a new phase in the Saudi market during the unveiling ceremony of its all-new Soueast S08 DM, alongside the signing of several agreements with partners and dealers across different regions of the Kingdom. The company said that its strategy in Saudi Arabia goes beyond vehicle sales, focusing on building a fully integrated ecosystem that includes a strong distribution network, advanced logistics infrastructure, and a comprehensive customer experience extending to after-sales services.

Moody's Opens Regional Headquarters in Riyadh

Global risk assessment firm Moody's Corp. has established its new regional headquarters in Riyadh. The move reflects what President and CEO Rob Fauber called "confidence in the strong economic momentum in Saudi Arabia," as well as the firm's commitment to supporting the development of the Kingdom's capital markets.

Moody's joins a growing roster of multinationals that have set up regional bases in Saudi Arabia under the Kingdom's Regional Headquarters Program, which has now attracted more than 700 companies, including Morgan Stanley, PepsiCo, PwC, and Deloitte.