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CEO of $320bn Saudi pension fund to step down
The CEO of Hassana Investment Company, which manages Saudi Arabia’s $320 billion social security and pension fund, will step down later this year. Saad Al…
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Ambitious plans accelerate Gulf construction costs
Construction costs in Saudi Arabia and the UAE are in danger of accelerating over the next few years as both countries pour billions into infrastructure,…
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Mecca project developer targets $533m from Saudi listing
Umm Al Qura for Development and Construction (Umm Al Qura), the developer of Masar, a mixed-use project in Mecca, expects to raise between SAR1.8 and SAR2…
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Luxury travel is the engine of Saudi’s tourism market
Saudi Arabia and Arsenale Group, developer of Italy’s La Dolce Vita Orient Express project, have shared designs for the Middle East’s first luxury train cruise…
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Saudi Arabia awards almost $2bn of contracts in January
Saudi government entities awarded more than SAR6.5 billion ($1.7 billion) of contracts in January, led by housing, infrastructure and industry. More than half the value…
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Saudi Arabia welcomes private funds for $64bn logistics projects
Saudi Arabia has more than SAR240 billion ($64 billion) of logistics projects underway and planned, most of which are open to private sector investment, a…
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Ma’aden aims to be world’s most valuable mining company
Saudi Arabia’s majority state-owned Ma’aden aims to grow ten-fold by 2040 to become the world’s most valuable mining company by market capitalisation, its CEO said. The country…
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$5bn Neom data centre latest deal announced at Leap
Saudi Arabia’s $500 billion futuristic giga-project Neom has signed a $5 billion deal to develop what it claims will be the world’s first fully sustainable data centre.…
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Abu Dhabi’s Modon plans to buy UK events company
Modon Holding has announced plans to acquire a global events company. Modon, an investment company that is backed by state-owned Abu Dhabi Developmental Holding Company (ADQ), announced…
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Ceer strikes $145m deal with Sabelt for EV sports seats
Ceer, Saudi Arabia’s first electric vehicle (EV) brand, has struck a SAR543 million ($145 million) deal with Italy’s Sabelt to develop sports seats for its…

Liyana Parker
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