The Gulf hotel sector's investments, according to reports, have reached $27 billion. New hotel projects worth $3.5 billion in the region were approved in 2020, indicating that investors expect the hotel market to return to normal in the next two or three years when activities resume at normal level.

Family-owned businesses in the Middle East, estimated to be worth more than $1 trillion, have been bogged down with issues such as corporate governance, estate planning and succession.

Saudi Arabia has begun to obtain ‘high-resolution’ geological data spread over 600,000 square kilometers in the kingdom, enabling it to find mineral deposits in the region.

The Information technology (IT) sector in Saudi Arabia will witness a big boom, with the market expected to touch $27 billion by 2025.

Saudi Arabia has lifted the ban on the entry of foreigners from 20 countries, six months after the kingdom declared it to contain the spread of Covid-19.

The number and value of mega projects set to transform the country’s real estate landscape and showcase the kingdom’s vision for an ultra-modern future to the world, says Knight Frank. Neom, a project for a smart and tourist cross-border city in the far north-west of Saudi Arabia, alone will cost...

As part of its grand "Riyadh Strategy," the kingdom will give the city a complete makeover, building satellite townships, new airports, blocks of residential apartments, commercial space, a broad network of transportation, including subways, swaths of landscape covered in green, adequate supply of drinking water, and much more.

The plants will be built on land plots with a total area of 12 million sq m in Jeddah and Rabigh.

The period has been extended from August 23, 2021, to February 16, 2022, with violators looking at fines of around $1,3 million or imprisonment of up to 5 years, or both.

Saudi Arabia has opened up its defense sector for local and international companies to invest in, and in this direction it will launch a digital platform for investors.

Saudi Arabia has approved the use of the Moderna Covid-19 vaccine for people aged between 12 and 17. The kingdom's decision was based on the data provided by the pharmaceutical company.

Saudi Arabia has developed cultural, heritage tourism projects in more than 25 tourist destinations and eyes 100 million tourists by 2030.

In a wide crackdown against offenders violating various laws of the kingdom, Saudi Arabia has arrested 16,000 people for contravening residency, work, and border security systems in the last five days.

At least one ton of honey has been sold in just 10 days at a festival in Baha, Saudi Arabia, with a large number of visitors attending the festival.

Saudi Arabia has seen a sudden growth in the size of freelance workforce with the number doubling in the first half of this year as the economy shows more signs of recovery from the pandemic.

The GCC might have been a late entrant to the exclusive club of space programs, but with its deep pockets it has gradually squeezed its way to the top.

Although its supply of crude oil fell ten percent on the month, Saudi Arabia still continued to be China’s top crude oil supplier for the ninth month in July, while Russian imports slipped by just 4 percent.

Alert officials of the Zakat, Tax and Customs Authority at King Fahd International Airport in Dammam have seized more than 2.6 kilograms of cocaine into Saudi Arabia while it was being smuggled into the kingdom

King Salman bin Abdul-Aziz Al Saud has reportedly directed health authorities to provide medical oxygen and accompanying supplies to Tunisia.

Saudi Arabia is constructing two renewable energy plants as part of the kingdom’s plan to generate 50 percent of its energy from renewables.

Saudi Arabia will start giving out professional licenses from next year in order to improve the quality of its domestic labor. To begin with, sixteen professions will receive the mandatory license in a phased manner.

Saudi Arabia has filed a World Trade Organization complaint over EU anti-dumping duties on imports of a chemical compound used to make synthetic fibers and plastic bottles.

Saudi Arabia will resume negotiations with 11 countries for free trade agreements meant to increase non-oil exports share in GDP.

The facility will have an annual capacity of 8.25 million sq m.

Saudi Arabia’s General Authority of Civil Aviation has accepted the pass as a valid way of confirming Covid-19 test.

Timely preventive measures such as vaccination of frontline construction workers, embracing new technologies , financial stimulus packages, loan relaxation and other strategies dented the effects of Covid-19 on real estate sector.

The United Arab Emirates (UAE) and Saudi Arabia are engaged in a new bout of competition that could decide which of the two would eventually become the top leader in the logistics sector, in the Middle East.

The Saudi low fares airline, flyadeal, has signed a long-term Flight Hour Services (FHS) agreement with Airbus to support its A320 fleet.

Saudi Arabia ranked first for Bahrain-origin exports and re-exports. Portable digital automatic data processing machines were the top product re-exported from Bahrain.

Confined to homes for more than 18 months by the coronavirus pandemic, Saudi pupils are all set to be back at school with the Covid paraphernalia of face masks, bottles of sanitizer, in addition to books and notebooks. 

Details of the providers of services such as surveying consultancy, design contracts, boundary supervision and turnkey contracts will be available on the portal.

Experts predict AI will contribute $320 billion to the Middle East economy by 2030 and virtual care, remote patient monitoring and AI expected to account for 30 percent of hospital investment.

The sovereign wealth fund is at the center of the kingdom's plans to transform the economy by creating new sectors and diversifying revenues away from oil.

To forestall the crippling effects of climate change, Saudi Arabia and the UAE have put on track projects worth billions of dollars to significantly lower emissions.

According to World Bank, the UAE has about 61 automated teller machines (ATMs) per 100,000 adults, much more than the world’s average of 43 ATMs. The central bank digital currency (CBDC) is expected to be launched in the UAE and Saudi Arabia in the next two to five years.

According to World Bank, the UAE has about 61 automated teller machines (ATMs) per 100,000 adults, much more than the world’s average of 43 ATMs

The GCC countries see hydrogen as a key factor in fuel transition and have drawn up plans to export green hydrogen, green ammonia, and power fuels in the future.

Expanding regional and global footprints, high revenues, cheap capital to invest and diversification key factors that hastened the merger processes.

Taking a direct hit from the Covid restrictions, BinDawood, the Saudi supermarket retailer, has reported a 50 percent dip in net profit to $25.33 million for the second quarter of this fiscal.

Owing to higher prices in the transport sector, Saudi Arabia's consumer price index rose 0.4% in July from a year earlier and was up 0.2% month on month, government data showed on Sunday.

Arab-based platforms such as Starz Play, Wavo, and OSN have become local competitors to Netflix and gaining the ground fast as alternative sources for entertaihment.

A total of 465 fintech companies in the region are expected to raise over $2 billion in venture-capital funding, compared to nearly $80 million raised by 30 fintech firms in 2017.

Tamer Group has achieved significant milestones in B2B to support digital fulfillment and enhance its services, chairman Ayman Tamer tells TrendsMena in an interview.

The projects in the Tabuk region will include initiatives related to housing, transportation, environment, and agriculture.

Tawal, the Saudi ICT infrastructure company, is planning to erect about 200 new towers in the kingdom every year, to keep pace with the sector’s expansion needs.

Covid shows no signs of relenting as ten people died in Saudi Arabia on Friday, and 681 were infected with the virus.

Alert officials of Saudi customs prevented an attempt to bring in contraband drugs into the kingdom at Jeddah Islamic Port, seizing 1.6 million Captagon pills.

Saudi Arabia is aiming to lure private investors into the health sector of the kingdom with its plan to take private participation from 25 percent to 35 percent by 2030.

Saudi Arabia has paid nearly $27 billion, since 2017, in monthly handouts to low-income families, facing the unintended effects of reforms.

The country has said it will take legal action against the construction of manmade or artificial lakes in farms for the purpose of investment or entertainment.