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Saudi Arabia’s Ministry of Industry and Mineral Resources has announced the offering of 11 mining sites for competition, located within two mining complexes designated for sand, fill materials, and salt in the Riyadh and Eastern regions. The initiative comes as part of the Ministry’s ongoing efforts to strengthen governance within the mining sector, encourage high-quality investments, and support the development of local communities surrounding mining projects. The Ministry’s official spokesperson, Jarrah bin Mohammed Al-Jarrah, explained that the sites offered for competition include five sites within the sand and fill materials complex south of Al-Ha’ir in the Riyadh Region, covering a total area of 2.25 square kilometers. In addition, six sites are located within the salt ore complex in the Sabkhas of Umm Al-Shreibat, Aba Al-Hamam, and Al-Mamlahah, south of Abqaiq in the Eastern Province, covering a total area of 10.45 square kilometers. Al-Jarrah stated that applications are being accepted through the Ta’adeen digital platform. He added that the competition process includes several stages, beginning with registration and qualification of applicants, followed by the bidding process, and concluding with the announcement of the auction results and the names of the winning companies. Source: Official website of the Ministry of Industry and Mineral Resources
A few days ago, the Public Investment Fund published its annual report for 2025, which highlights solid financial performance and continuous progress for the Fund in implementing its long-term objectives. The report showed that the Fund maintained the diversity of its portfolio, in line with its position as a long-term investor and its unique mission that focusses on driving the economic transformation in the Kingdom and achieving sustainable financial returns. It also monitored the Fund’s success by balancing achieving financial returns, while continuing to strengthen its strengths sustainably and making impact at the national level. The Fund’s annual report showed an increase in revenues in 2025 by 9% year-on-year to reach 450 billion riyals, while net profit doubled to more than 65 billion riyals, supported by the growth of the contributions of mature companies within the Fund’s portfolio. The value of assets under management reached about 3.4 trillion riyals, with 5.8% gross return for shareholders on an annual basis since 2017. The high dividends of the Fund’s portfolio companies, and the good returns on financial investments, had positive repercussions on the total return of shareholders during 2025, but the return was affected by the negative fluctuation in the values of some assets due to the conditions of the capital markets in general, in addition to the Fund’s continued injecting long-term investments locally to lead the economic transformation in the Kingdom. Throughout 2025, the Fund demonstrated its ability to access effective and diverse sources of financing, including the issuance of the first euro-denominated green bonds, and the establishment of a commercial paper program, enhancing the flexibility of short-term financing. The Public Investment Fund maintained its high credit ratings, with Aa3 with a stable outlook from Moody’s Credit Rating Agency, an A+ rating with a stable outlook from Fitch, and an A-1 rating for short-term credit from Standard & Poor’s Credit Rating Agency, with a stable outlook. The ratings reflect the strength of the fund’s creditworthiness and boost investor confidence. Reference: Media Statements – Official Website of the Public Investment Fund
The Infrastructure Projects Centre in Riyadh, Saudi Arabia, has issued more than 141,000 licenses since the beginning of 2026, as part of its efforts to organise project work and raise the level of compliance with the requirements and approved standards. According to the Centre’s periodic report on the performance of service agencies during August, the number of infrastructure business licenses issued during the month exceeded 19,000 licenses, of which 10.1 thousand licenses are active and under implementation. The roads occupied by infrastructure projects extended to 1,133 kilometres, indication of the volume of development work underway in road and service networks in the region. 190,000 reports since the beginning of the year The centre received more than 8,000 reports during August, led by reports of road drops by 29%, followed by water pools by 26%, then exposed covers by 11%, while other reports accounted for 34%. Thus, the total number of reports received by the Centre since the beginning of the year exceeded 190,000 reports. Notes on project sites Field teams monitored a number of observations at project sites, most notably the lack of cleanliness of work sites and the absence of warning lights and temporary barriers, in addition to distortment outside the scope of work areas. The Centre stressed the importance of enhancing compliance with the requirements to improve the quality of implementation and maintain the safety of project sites. He pointed out that his periodic reports aim to raise the level of transparency and follow-up efficiency, and provide operational indicators that support decision-making, thus contributing to improving the quality of infrastructure projects and quality of life in the Riyadh region.
LEAP 2026 concluded today, marking the close of its fifth edition. The conference was organized by the Ministry of Communications and Information Technology, the Saudi Federation for Cybersecurity, Programming and Drones, Tahaluf, and the Events Investment Fund, under the theme “Into New Worlds.” The event generated significant global momentum in technology and investment, further strengthening the Kingdom’s position as a leading hub for the digital economy and artificial intelligence. Held over four days at the Riyadh Exhibition and Convention Center in Malham, the conference witnessed announcements, investments, and agreements valued at nearly $15 billion. These covered artificial intelligence infrastructure, data centers, cloud computing, technology manufacturing, and venture capital, alongside wide-ranging initiatives aimed at developing national capabilities and aligning them with labor market needs and high-growth sectors. Artificial intelligence and infrastructure investments were among the conference’s most prominent announcements, driven by a network of partnerships launched by HUMAIN with several of the world’s leading technology companies. These partnerships aim to develop AI data centers, cloud infrastructure, AI models, enterprise solutions, and autonomous technologies. The announcements included the establishment and expansion of large-scale data centers and the development of computing and AI infrastructure. Microsoft also announced that its Azure cloud region in the Kingdom will become available in November 2026, strengthening local data hosting capabilities and supporting the growth of cloud services and digital sectors. Al Moammar Information Systems (MIS) announced investments worth $1.2 billion to expand its data center operations and increase capacity to 192 megawatts. Meanwhile, NHC Innovation announced an $800 million investment to develop “Khuzam Digital Valley,” with scalable capacity expected to reach 65 megawatts by 2033. Among the most significant cloud investments, Amazon Web Services (AWS) announced the launch of its first cloud infrastructure region in the Kingdom in December 2026, as part of a planned investment exceeding $5.3 billion. AWS also announced an expansion of its partnership with HUMAIN to provide up to 50 megawatts of capacity within the Kingdom’s first AI Zone by 2028. The collaboration will also make the Arabic-language model “ALLAM” available through Amazon Bedrock and offer HUMAIN Fabric through AWS Marketplace. These initiatives will strengthen advanced computing capabilities and enable organizations across different sectors to develop and operate artificial intelligence solutions at scale. In the field of developer enablement, the Ministry of Communications and Information Technology, the Digital Cooperation Organization, and AMD launched an open ecosystem designed to accelerate innovation in artificial intelligence. The initiative provides developers, startups, and software engineers with access to open-source software tools, training programs, and community engagement initiatives. The initiative provides access to AMD’s AI developer program, its portfolio of computing technologies, and the open-source AMD ROCm software ecosystem, alongside the Digital Cooperation Organization’s tools for AI ethics and governance. This will help develop local capabilities and support the transformation of technology investments into applications and services capable of growing and scaling globally. The conference also saw Snowflake expand its presence in the Kingdom with a $300 million investment through 2030. The investment includes opening its regional headquarters, launching two additional cloud regions, and training 25,000 beneficiaries. HPE also announced an expansion of its “Made in Saudi” initiative, the launch of an innovation center in collaboration with Intel, and the localization of advanced storage and server solutions. LEAP 2026 also highlighted achievements in local technology manufacturing, including the unveiling of the first Lenovo laptop manufactured in Riyadh through the company’s partnership with Alat. The milestone reflects the Kingdom’s progress in localizing technology industries, developing national talent, and transferring knowledge and expertise. In the creative industries sector, Adobe announced a commitment valued at more than $4 billion as part of an expanded partnership with the Ministry of Communications and Information Technology and HUMAIN. The partnership includes providing Adobe Firefly Standard and Adobe Express Premium features free of charge for 12 months to more than 27 million eligible citizens and residents aged 13 and above by the end of 2026. The partnership also includes the development of the first image-generation model using Adobe Firefly Foundry, designed in collaboration with HUMAIN to reflect Saudi culture and local context. The model will support the creation of Saudi-inspired creative content using Arabic-language text prompts. Venture capital investments, funding rounds, and funds announced during the conference totaled approximately $857 million. These investments will support the growth of technology companies and startups and their expansion from the Kingdom into global markets, covering sectors including artificial intelligence, biotechnology, fintech, and deep technology. Source: Ministry of Communications and Information Technology website
Etimad Platform ranked second among government platforms in the 2026 Digital Experience Maturity Index, issued by the Digital Government Authority, advancing by two positions compared to 2025. The platform achieved a score of 94.36%, with an “Advanced” maturity level, according to the evaluation results announced on Wednesday, which covered 59 government platforms. Etimad also led digital platforms across several key and sub-indicators. Most notably, it ranked first in the Digital Inclusivity sub-indicator, achieving a score of 90.40% at an “Advanced” level. This indicator reflects awareness of the importance of designing services that meet the needs of persons with disabilities and senior citizens, enabling them to benefit from these services independently and effectively. The platform also ranked first in the Complaint Handling dimension, achieving 98.15% at a “Distinguished” level. In the Technologies and Tools dimension, Etimad ranked second with a score of 97.22%, also at a “Distinguished” level. In the User Experience dimension, the platform ranked third with a score of 94.59% at an “Advanced” level. The Chief Executive Officer of the National Center for Government Resources Systems, Eng. Yousef bin Abdulrahman Al-Harqan, affirmed that Etimad’s strong digital standing reflects the Center’s commitment to enhancing the quality of government resource systems and services. He noted that this progress is the result of cumulative efforts centered around beneficiaries, through the delivery of more seamless and reliable digital solutions.
Launching a $186 million fund to develop the assets of the “Urban Valley” region Sports Boulevard Real Estate Development and Investment Company has signed agreements with Rikaz Real Estate Company to establish its third real estate investment fund, worth more than USD 186 million, to develop major assets including a five-star luxury hotel in the Urban Valley area in Riyadh. The fund will finance the development of the hotel in the Hattin district, where Rikaz Real Estate Company will play the role of developer and investor, while Al Jazeera Capital will manage the fund, according to an official statement. The project will be built on a plot of 13,500 square meters, with a total built area of about 34,400 square meters, according to the statement. “The Urban Valley” is a major destination within the “Sports Corniche” project in two whaits, and extends from Suwaid Bin Haritha Street in the west to the Empty Quarter Street in the east. The valley is designed to be an integrated destination that combines sports, nature, entertainment, hospitality and community spaces. The project follows the “Sports Corniche Charter”, an urban design framework inspired by Salmanic architecture, and aims to promote a coherent identity rooted in the character of Riyadh. Jane McGivern, CEO of Sports Boulevard, said the establishment of the fund represents an important step towards developing the project’s investment and development strategy. “The establishment of these two funds is an important step in strengthening the investment and development strategy of the project,” McGieven said. This reflects the confidence of our partners in the long-term value of Sport Boulevard, as well as our shared commitment to developing destinations that improve the quality of life, support economic growth and reinforce Riyadh’s position as one of the world’s best cities to live in.” The latter fund is part of Sport Boulevard’s strategy to partner with the private sector to develop major sports, hospitality, entertainment and lifestyle projects in its various destinations. Nayef Al Misnad, CEO of Al Jazeera Capital, said: “The management of Corniche Sports Fund 3 reflects our commitment to supporting investments that combine strong development potential and long-term urban value. Source: www.arabnews.com
Solutions by stc has signed an SAR 364 million, 18-month contract with Center3 to build a new data center in Dammam, part of Saudi Arabia's expanding digital infrastructure.
Petro Rabigh is advancing several strategic projects under its asset development program, including a debottlenecking project expected to become operational in Q3 2026.
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