Saudi Arabia: July's Political & Economic Headlines

For operators and investors with a link to the Saudi market, here's a recap of the Kingdom's political & economic headlines in July.

In major news

‍

→   Saudi invests $6.4B in Syria reconstruction

47 deals, signed by over 100 companies, were unveiled by Saudi Investment Minister Khalid Al-Falih to help reconstruct Syria. Includes $2.9B for infrastructure and real estate, and $1.1B for telecoms and IT

‍

→   $27B Saudi-Indonesia Energy & Industry Pact‍

Saudi Arabia + Indonesia signed a $27B pact focused on trade in clean energy, petrochemicals, aviation fuel, technology, and defence, to advance strategic ties in support of Indonesia’s Golden Vision 2045 and Saudi's Vision 2030

‍

→   Palestine remains top priority

Saudi + France co-chaired a UN meeting with diplomats from over 130 countries, in support of a two-state solution in Gaza. Follows Prince Faisal bin Farhan's (Saudi FM) multiple bilateral meetings on the side-lines of the Palestine conference, with David Lammy + Mohammed Mustafa (Palestinian PM). Also follows Saudi cabinet's recognition of a Palestinian state and condemnation of Israeli actions in Gaza

‍

→   Saudi IPO confidence continues

Continued confidence in Saudi IPOs and capital markets last week, as Sport Clubs Company (operates 50+ fitness centres) went public raising $68.6M, and Dar al Majed (real estate developer) raises $336M

‍

‍

In wider trade & business news

‍

- Aramco considers sale of 5 gas-fired power plants to raise $4B

- 45-fleet low-cost airline to be launched by 2030, with UAE's Air Arabia among the consortium of winning airline bidders

- Saudi Exports-led delegation headed to Brazil to boost non-oil trade (building materials, food, packaging, ICT, logistics, services) to $20B

- Saudi Arabia’s Ajyal is in early-stage talks to build a petrochemical complex in Iraq

- Saudi VC funding in 2025 surpasses 2024 levels - hitting $860M, as fintech sees the most deals

- S&P Global Ratings forecasts the Kingdom's GDP is expected to grow by 3.5% between 2025-2028

‍

...and in domestic news

‍

- The full text of a new law regulating real estate ownership by non-Saudis has been released and due to come into force in <180 days

- Increased Saudization requirements came into effect across pharmacy-related and dentistry professions

‍

There's the recap of July's major headlines.

‍

For further country news updates or analysis on professional services market landscapes, UK trade and export-country research, visit our Resources page.