Saudi Round-Up: Digital Dominance Spotlighted at LEAP
This week's roundup highlights new updates and initiatives in sectors like technology, aviation, automotive, and banking.
From 03 January to 10 February 2025
This week, Saudi Arabia is setting new benchmarks across industries, particularly in the digital space.
General Business and Economy
Saudi Arabia Leads Regional Digital Economy
Saudi Arabia reaffirms its dominance in the regional digital economy, maintaining a 50% market share as the sector surged by 73% to $260 billion.
Speaking at LEAP 2025, the Minister of Communications and Information Technology highlighted the rise in tech professionals, whose numbers grew from 150,000 in previous years to 381,000 by 2025.
The minister also noted that Saudi Arabia’s unicorn startups increased from two in 2022 to seven in 2025.
Saudi Arabia Completes Fiscal Sustainability Program, Strengthens Economic Future
On February 6, 2025, Saudi Arabia finalized the executive plan for the Fiscal Sustainability Program, a key component of Vision 2030.
Originally launched in 2016, the program introduced financial reforms to stabilize and diversify the economy, reducing reliance on oil revenues and improving fiscal resilience.
Non-oil revenues soared from SAR 186 billion (50.22 billion) in 2016 to SAR 458 billion ($123.61 billion) in 2023.
Saudi Arabia’s Debt Market to Surpass $500 Billion by End of 2025
According to a recent report, Saudi Arabia’s debt capital market currently exceeds $500 billion, with Fitch reaffirming the Kingdom’s A+ credit rating.
This aligns with Vision 2030’s economic diversification, with reforms and infrastructure projects fueling non-oil growth.
Automotive
Saudi Arabia Launches King Salman Automotive Cluster to Boost GDP
Saudi Arabia has introduced the King Salman Automotive Cluster, which aims to contribute SAR 92 billion ($24.5 billion) to the GDP by 2035. The cluster, located in King Abdullah Economic City, will attract private sector investments and enhance the country’s automotive manufacturing industry.
With advanced infrastructure and investment incentives, this initiative is expected to transform Saudi Arabia into a major automotive hub, in alignment with national strategies for industry, transport, and logistics.
Aviation
Saudi Arabia Opens Domestic Aviation Market to Foreign Charter Flights
Saudi Arabia’s General Authority of Civil Aviation (GACA) has announced the removal of cabotage restrictions, allowing international charter operators to offer domestic flights starting May 1. This move aims to boost private aviation, enhance competition, and attract foreign investment.
GACA also launched a national general aviation sector development committee to oversee infrastructure expansion and regulatory improvements. The roadmap includes dedicated business aviation airports, new terminals, and expanded maintenance facilities, targeting a $2 billion industry by 2030.
Banking & Finance
ROSHN Secures SAR 2 Billion Credit Facility from SNB
ROSHN Group, a subsidiary of the Public Investment Fund (PIF), has signed a SAR 2 billion ($533 million) Shariah-compliant credit facility agreement with Saudi National Bank (SNB).
This agreement strengthens ROSHN’s expansion strategy while enhancing Saudi Arabia’s real estate sector. The project will attract businesses, improve retail infrastructure, and enhance visitor experiences.
Expansions
Lenovo and Alat Strengthen Saudi Tech Sector with New Factory
Lenovo and Alat just broke ground on a new 200,000 sqm manufacturing facility in Riyadh’s Special Integrated Logistics Zone (SILZ).
Slated for production in 2026, the site will manufacture laptops, desktops, and servers, enhancing Lenovo’s supply chain and regional reach.
This move aligns with Vision 2030’s goal of transforming Saudi Arabia into a global tech hub.
AMD Expands Saudi Presence with Riyadh Office and Leap 2025 Showcase
AMD opened its first Saudi branch in Riyadh and participated in Leap 2025, underscoring the Kingdom’s growing role in global tech.
The expansion highlights Saudi Arabia’s emergence as a key player in advanced computing.
Skyports and Iot Squared Bring Drone Tech to Saudi Giga-Projects
Skyports Drone Services partnered with iot squared to integrate beyond-visual-line-of-sight (BVLOS) drone technology into Saudi Arabia’s giga-projects. The initiative includes a proof-of-concept and the development of a BVLOS-friendly ecosystem to accelerate drone operations.
Chinese EV Startup Expands into Saudi Market with Rox 01
Chinese EV company Rox Motor officially launched in Saudi Arabia at the LEAP 2025 event, securing over 200 orders on its first day. The company introduced its all-terrain SUV, Rox 01, and opened its first showroom in Riyadh, with a flagship store set to launch later in the month.
Regent Makkah Set to Redefine Luxury Hospitality
IHG Hotels & Resorts, in partnership with AIMS Holding, is bringing its ultra-luxury Regent brand to Makkah. The upcoming Regent Makkah, located near Al Haram Al Sharif, is ahead of schedule and will offer 330 high-end rooms and suites with state-of-the-art wellness features and panoramic views of Masjid al-Haram.
Telecommunications
STC Group Unveils Rebranded BPO Subsidiary at LEAP 2025
STC Group has launched "upsource by solutions," its newly rebranded business process outsourcing (BPO) unit, at LEAP 2025. The initiative builds on the success of its Contact Center Company (CCC), aiming to enhance efficiency in HR, finance, operations, and customer experience.
By offering comprehensive outsourcing services, upsource enables Saudi businesses to optimize operations, reduce costs, and focus on core growth.
Technology
Saudi Could Rank as Europe’s 5th Largest Tech Hub
Speaking at LEAP 2025, the Saudi Minister of Communications and Information Technology stated that if Saudi Arabia were part of the EU, it would rank as its fifth-largest tech hub. This reflects the Kingdom’s rapid digital transformation and strong global positioning in technology.
The minister emphasized ongoing efforts to attract top innovators and investors while mitigating challenges in skills, governance, and digitization.
Zoom AI Expands in Saudi Arabia with Oracle Cloud Infrastructure
Zoom has just announced its AI-first platform in Saudi Arabia—Zoom AI Companion, which is now powered by Oracle Cloud Infrastructure (OCI).
With OCI’s high-performance capabilities, Zoom is enhancing AI adoption in the region, helping enterprises optimize productivity while maintaining top-tier security and reliability.
Saudi Strengthens AI Leadership with $14.9B Investments at LEAP 2025
On February 9, 2025, the LEAP 2025 event in Riyadh unveiled $14.9 billion in tech investments, cementing Saudi Arabia’s role as a global AI and digital hub. Major deals included a $1.5 billion AI-powered cloud computing initiative along with Google launching a regional AI hub.
The country also dominated the regional venture capital landscape, securing over 40% of total deals in 2024.
MICE (meetings, incentives, conferences, and events industry)
Riyadh to Host 5th Capital Markets Forum 2025
From February 6, 2025, Riyadh hosted the 5th Capital Markets Forum (CMF) under the theme "Powering Connections." Organized by the Saudi Tadawul Group, the event showcased Saudi Arabia’s expanding capital markets and its emergence as a global financial hub.
Bringing together investors, financial leaders, and policymakers, CMF facilitated discussions on digital transformation, ESG investments, and economic integration.
Retail Event 2025 RLC Global Forum Concludes in Saudi Arabia
On February 5, 2025, the RLC Global Forum concluded in Riyadh after two days of discussions on the future of retail.
The event brought together industry leaders, policymakers, and academia to explore global best practices and market opportunities, with a focus on value-led grocery retail, the rise of omnichannel commerce, and Saudi Arabia’s growing luxury sector.
Saudi Arabia Gears Up to Host the Fourth Edition of the Saudi Media Forum 2025
Saudi Arabia is set to host the fourth edition of the Saudi Media Forum from February 19 to 21, 2025, in Riyadh. Recognized as the largest media gathering in the region, the event will bring together global media leaders, policymakers, and technology innovators to discuss the future of the industry amid rapid digital transformation.
Additionally, the event will foster dialogue on emerging trends, AI’s impact, and strategic collaborations in the evolving media landscape.
