Saudi Round-Up: 33% Increase in Urgency to Expand to Saudi Arabia
Get clued up on most recent MoUs, expansion, and agreements that are catalysts for many groundbreaking projects and collaborations.
From 17 February to 24 February 2025
General Business and Economy
Saudi Arabia Introduces Riyal Symbol to Strengthen Currency Identity
The Saudi Central Bank launched the official symbol for the Saudi Riyal, marking a significant step in reinforcing the national currency's identity. The symbol, designed with Arabic calligraphy, aligns with global financial standards and will be gradually integrated into financial and commercial transactions.
This initiative highlights Riyal’s growing significance in the financial sector while promoting cultural heritage and national identity.
Aviation
Riyadh Air Prepares for 2025 Takeoff
Riyadh Air is set to launch by the end of 2025, aiming to redefine travel with a digital-first approach. The airline plans to integrate AI-driven services for a seamless experience, offering curated recommendations beyond ticket bookings. Partnerships with Delta and Singapore Airlines will expand connectivity.
With 72 Boeing 787s and 60 Airbus A321neos on order, Riyadh Air is building a strong fleet despite supply chain challenges. The airline targets 100 international cities by 2030.
GACA Unveils Digital Aviation Platform
Saudi Arabia’s General Authority of Civil Aviation (GACA) has launched "Ajwaa," an integrated digital platform designed to streamline civil aviation services. The initiative aligns with Vision 2030 and improves efficiency, transparency, and regulatory functions.
Ajwaa creates a fully digital ecosystem, simplifying access for aviation stakeholders.
Construction
Mabanee Secures $300M for The Avenues Riyadh Expansion
Mabanee’s Saudi subsidiary has signed two contracts worth $300 million for the second phase of The Avenues Riyadh, a major mixed-use development. The contracts cover the construction of five towers, with the project expected to be completed within 24 to 33 months.
The Avenues Riyadh, spanning 1.87 million square meters, is set to become the largest commercial mall in the Middle East.
Culture
Saudi Founding Day 2025: A Celebration of Heritage and Innovation
Saudi Founding Day 2025 featured nationwide festivities, including 8,000 flags displayed across Riyadh and cultural events in 15 cities. The celebrations highlight Saudi Arabia’s three-century-old heritage with eco-friendly light shows replacing traditional fireworks and historical exhibitions at AlUla’s Al-Sarraya Festival.
The events, including drone displays, live performances, and interactive experiences, reflect Saudi Arabia’s commitment to preserving its cultural identity while embracing innovation.
Tourism
Qiddiya and Mercedes-AMG Unveil High-Octane Experience Center
Qiddiya Investment Company partnered with Mercedes-AMG and its F1 team to launch a 45,000 sqm experience center in Qiddiya City. The facility will feature immersive exhibits, racing simulations, and direct access to the Speed Park Track, set to become a premier motorsport hub.
The initiative enhances Saudi Arabia’s presence in global motorsports and aligns with Vision 2030’s push for world-class entertainment. Visitors will experience cutting-edge attractions, including real-world track driving, reinforcing Qiddiya’s position as a top motorsport destination.
Expansions
ROR Coffee Solutions Expands to Saudi Arabia
ROR Coffee Solutions has announced its expansion into Saudi Arabia through a strategic partnership with Qadr Financial. The Emirati-owned specialty coffee provider also revealed collaborations with Dalla Espresso and Giesen Coffee Roasters, strengthening its presence in the GCC market.
With Saudi Arabia’s coffee sector growing rapidly, this move introduces high-quality, sustainable coffee solutions to the Kingdom.
Energy
L&T Secures $1.5B Saudi Aramco EPC Contract
L&T Energy Hydrocarbon has won a $1.5 billion contract from Saudi Aramco to provide EPC services for Phase I of its Carbon Capture & Storage hub. This project, which is part of Aramco’s Accelerated Carbon Capture & Sequestration initiative, aims to cut emissions and expand its CCS capabilities.
The deal reinforces Saudi Arabia’s commitment to reducing its carbon footprint and advancing its energy transition goals. By integrating large-scale CCS infrastructure, the project aligns with the Kingdom’s long-term sustainability targets, supporting Vision 2030’s push for cleaner energy solutions.
Media
A Saudi-South Korean Agreement Set to Boost the Film Industry
Saudi Arabia’s Film Commission and the Korean Film Council have signed a strategic agreement to enhance cooperation in the film industry. The deal promotes knowledge exchange, production collaboration, and talent development, fostering growth in both countries. It also focuses on training programs, workshops, and mentorship opportunities to support filmmakers in production, animation, screenwriting, and directing.
The partnership strengthens international collaboration by encouraging joint film projects and facilitating networking through major festivals, including Saudi Arabia’s Red Sea International Film Festival and South Korea’s Busan International Film Festival.
SBA Strengthens Media Development with Six Agreements
The Saudi Broadcasting Authority (SBA) signed six agreements at the Saudi Media Forum to enhance broadcasting and media training. These agreements involve partnerships with government and private entities, including Arabsat, STC, the Royal Commission for AlUla (RCU), and the National eLearning Center. The goal is to improve media content, facilitate knowledge exchange, and develop industry professionals.
Sports
Saudi Arabia Invests $1B in Leonard Blavatnik’s Sports Streaming Business
SURJ Sports Investment, backed by Saudi Arabia’s Public Investment Fund (PIF), has acquired a minority stake in DAZN, a British sports entertainment platform owned by Leonard Blavatnik. The agreement also includes the launch of DAZN MENA, a joint venture designed to expand sports broadcasting and enhance media access across the region.
This move positions the kingdom as a major player in global sports broadcasting, opening new opportunities for local talent, leagues, and sports organizations while elevating fan engagement across the Middle East.
Trade & Investments
Saudi Tadawul Launches System to Modernize IPOs
The Saudi Exchange introduced the Capital Management System (CMS) to enhance IPO efficiency, transparency, and accessibility. Investors can now subscribe directly through their portfolios without creating new accounts, simplifying the process and expanding market participation.
By streamlining IPO subscriptions, the system strengthens the Saudi capital market, attracting a wider range of investors.
Aramco Acquires 25% Stake in Unioil Petroleum Philippines
Saudi Aramco has agreed to acquire a 25% stake in Unioil Petroleum Philippines, marking its return to the Philippine retail market. The move is part of Aramco’s strategy to expand its global retail network and capitalize on growing energy demand in the Asia-Pacific region. This investment follows the company’s previous involvement with Petron Corporation, which ended in 2008.
Unioil operates 165 fuel stations and plays a key role in the Philippine energy sector. By partnering with Unioil, Aramco aims to introduce its high-quality fuel products and explore further investment opportunities, potentially including renewable energy projects.
Al-Ahsa Unveils $13.3 Billion Investment Projects
Saudi Arabia’s Al-Ahsa province has introduced 59 investment projects worth $13.3 billion, focusing on transport, tourism, logistics, and industry. The announcement took place at the Al-Ahsa Investment Forum and aimed at attracting capital to boost economic diversification under Vision 2030.
The province has also granted 183 permits for foreign projects valued at $666 million.
Cambodia, Saudi Sign MoU to Boost Bilateral Trade
Cambodia and Saudi Arabia have signed an MoU to strengthen trade relations, potentially increasing Cambodia’s apparel exports, which reached $62.48 million from January to November 2024. Currently, trousers, shorts, T-shirts, and jerseys dominate exports to the Kingdom.
This agreement aims to enhance market access, diversify trade opportunities, and expand economic ties between the two nations.
MICE (meetings, incentives, conferences, and events industry)
World Defense Show 2026 Expands with New Features
Saudi Arabia’s World Defense Show has unveiled major expansions and new features for its 2026 edition. The event will showcase cutting-edge defense technologies across air, land, sea, space, and security, aiming to foster global partnerships and innovation. The exhibition space has significantly grown, with over 65% of stands already sold, reflecting strong international interest.
Saudi Arabia Hosts Regional Satellite Search and Rescue Meeting
Saudi Arabia’s General Authority of Civil Aviation is hosting a regional meeting in Jeddah to advance satellite-based search and rescue missions. Representatives from multiple countries, including the UAE, Qatar, Algeria, Nigeria, and Togo, will participate in training workshops focused on improving emergency response coordination.
As one of the first Middle Eastern countries to join the Cospas-Sarsat initiative, Saudi Arabia has integrated satellite technology for search and rescue operations involving aircraft, ships, and individuals.
