Latest news with #Aseer
Argaam
2 days ago
- Business
- Argaam
Future development stages to focus on asset management: ElKuwaiz
Mohammed ElKuwaiz, Chairman of the Capital Market Authority (CMA), said the strength of the Saudi capital market showed a significant shift in its global development. Speaking at a panel discussion at Aseer Investment Forum on May 27, ElKuwaiz said the market is no longer viewed merely through the lens of investors, but also through the lens of entrepreneurs seeking funding. As a result, the market currently plays a dual role in both investment and financing. He added that the major leap witnessed by the capital market is evident in the remarkable increase in listings and offerings. In recent years, the number of listings in both the Main Market and Nomu reached nearly 40 and 50. Thus, the local market ranked eighth in the world in terms of market cap as well as the size of offerings and listings. He noted that the increase in listings was accompanied by diversity in sectors and corporate sizes, with 60% of listed companies in the market being small and medium-sized enterprises (SMEs). The Chairman also pointed out that this development included the diversity of investment and financing tools. "Today, we're talking about the stock market and the asset management industry, with investment funds surpassing SAR 1 trillion in assets under management (AUMS) in 2024." The debt instruments sector and the debt market are now nearly equal in size to the asset management sector. Additionally, the diversity of investor categories—including local, individual, international, and institutional investors—contributes to greater market stability, ElKuwaiz said. Saudi Arabia has the most mature stock market, and the next stages of development will focus on the asset management industry, which surpassed SAR 1 trillion, equivalent to roughly one-tenth of the local stock market cap of SAR 10 trillion. This demonstrates the significant growth potential for this sector in the coming period, whether in traditional assets such as equity and bond funds, real estate funds, or venture capital funds. The Chairman added the debt market in the Kingdom is smaller than the capital market, amounting to nearly SAR 1 trillion, compared to the equity market. However, in the past two years, the volume of financing through the debt market surpassed financing in the capital market, reflecting enormous upcoming financing opportunities.
Argaam
3 days ago
- Business
- Argaam
Aseer draws SAR 50B investments: ADA
Hashem Al-Dabbagh, CEO of Aseer Development Authority (ADA), said that the authority exceeded its investment targets. The private sector investments in Aseer reached around SAR 25 billion, excluding investments by the Public Investment Fund (PIF), which also amount to about SAR 25 billion—bringing the total investments in the region to about SAR 50 billion. In an interview with Argaam on the sidelines of the Aseer Investment Forum, Al-Dabbagh, added that the first edition of the forum, held two years ago, saw investments worth SAR 1.7 billion. This figure grew over the following two years to exceed SAR 5 billion. The current forum witnessed the announcement of new investments worth SAR 4 billion, in addition to projects under study estimated at SAR 15 billion. PIF implements strategic projects in the region at a total value of nearly SAR 25 billion. These projects include Soudah Development Co., which involve luxury hotel and residential developments across six locations in Soudah, with investments exceeding SAR 10 billion. He also cited Al-Wadi project, which is developed by Ardara Co. in central Abha. The project aims to revive the historical riverbed through a comprehensive development of the surrounding areas, with investments of over SAR 10 billion. PIF's investments in the region also include other companies such as Aseer Investment, Qiddiya Development, with some projects still under study. Regarding ADA's strategy, Al-Dabbagh affirmed that it focuses on enhancing the tourism sector and its supporting industries, such as entertainment, agri-tourism, and retail centers. He pointed out that most of the investments attracted during the forum fall within these areas. He added that ADA is also exploring investment opportunities in other sectors, including renewable energy, mining, industry, and agriculture. Al-Dabbagh also revealed that the authority is working with relevant entities to implement a comprehensive development project for Abha Airport. The project aims to increase the airport's capacity to 10 million passengers annually in its first phase, and to 13 million in the second phase—compared to its current capacity of just 1.8 million passengers per year. The existing airport is operating beyond its designed capacity, currently handling more than 4 million passengers annually. This has led to the launch of a global design competition for a new airport with a Saudi countryside theme. One of the updated designs has been approved by the leadership. The project is being implemented through a public-private partnership, in coordination with the General Authority of Civil Aviation (GACA), the National Center for Privatization & PPP, and the Matarat Holding Company. Al-Dabbagh described the project as one of the key enablers of tourism and economic transformation in the region.
Arabian Business
3 days ago
- Business
- Arabian Business
Saudi real estate: ARDARA to launch lifestyle community in Al Wadi with luxury hotels and homes
The Saudi real estate and hospitality sectors will be further enhanced by the launch of a new luxury community in Al Wadi, Aseer. Aseer Region Governor and ARDARA Chairman Prince Turki bin Talal bin Abdulaziz officially announced the launch of the first modern lifestyle community at Al Wadi. The announcement unveiled further details about this distinctive destination developed by ARDARA, a company wholly owned by the Public Investment Fund (PIF), during the second Aseer Investment Forum, held at King Khalid University in Abha. ARDARA Saudi real estate development The new community represents a key milestone in ARDARA's mission to develop integrated residential and tourism destinations that enhance Aseer Region's prominence on the national development landscape. The project underscores ARDARA's dedication to sustainable urban development and delivering a superior quality of life. The current project phase includes a range of diverse facilities, including: A five-star hotel with approximately 180 rooms A four-star hotel with around 245 rooms 40 luxury branded apartments 42 luxury branded villas 62 exceptional apartments Premium retail space spanning 4,500sq m Public amenities including walking and cycling paths Environmentally friendly mobility solutions. In line with its commitment to world-class hospitality, ARDARA signed a letter of intent with Hilton to operate a Waldorf Astoria hotel within the destination. Additionally, ARDARA signed a memorandum of understanding (MoU) with Sumou Holding to develop mixed-use urban communities combining residential, hospitality, and entertainment components in upcoming phases of AlWadi, in line with the National Tourism Strategy and grounded in principles of sustainability and smart development. With a potential value of SR1bn ($267m), the partnership aspires to achieve the highest standards of quality of life, meeting the needs of both residents and visitors. In a strategic collaboration, ARDARA and SEDCO Capital signed an MoU to manage an investment fund worth SR1bn ($267m) aimed at developing an urban project in Abha. In addition, ARDARA signed an MoU with Southern Province Cement Company to promote sustainable practices in urban development in Saudi Arabia. The agreement includes the supply of eco-friendly 'green cement,' collaboration on greening initiatives and community activities, and the exchange of technical expertise, contributing to a lasting environmental and social impact that enhances the quality of construction and development across the region. Managing Director of ARDARA Naif bin Saleh Al-Hamdan said: 'The launch of our first lifestyle community in Al Wadi presents a one-of-a-kind investment opportunity in Aseer, offering exclusive waterfront properties and a thriving community that embraces Saudi heritage and modern amenities. 'Additionally, the significant strategic partnerships we signed today bring together innovation, sustainability, and investment value, aligning with the Public Investment Fund's programs and the objectives of Saudi Vision 2030.'
Leaders
3 days ago
- Business
- Leaders
Aseer Investment Forum Showcases Promising Tourism, Development Prospects
The third workshop of the second edition of the Aseer Investment Forum, hosted at King Khalid University in Al Faraa, featured a dynamic session titled 'Aseer: One Journey, Unforgettable Experiences.' The event brought together key figures and experts from the tourism, investment, and development sectors to spotlight the region's emerging opportunities. Aseer Investment Forum Participants identified the Aseer Region as a leading destination on the national tourism map, praised for its rich cultural heritage and diverse natural environment. They noted the region's strong appeal to investors, citing its supportive infrastructure and skilled workforce. Eng. Hashem Al-Dabbagh, Acting CEO of the Aseer Region Development Authority, highlighted the ambitious goals of the 'Aseer Season,' which aims to attract 9 million tourists by 2030. He reaffirmed the region's potential to become a top-tier destination for both local and international visitors. Related Topics : Saudia, Aseer Development Authority Cooperate on Boosting Tourism 'Aseer Manuscripts Exhibition' Showcases Region's History, Culture Mohammed bin Salman Project Revitalizes Al-Oudah Mosque in Diriyah Under Historic Initiative Saudi Development Fund Announces $90m for Infrastructure Dev't in Caribbean States Short link : Post Views: 1 Related Stories
Asharq Al-Awsat
3 days ago
- Business
- Asharq Al-Awsat
Multi-Billion-Riyal Investments Position Aseer as a Rising Economic Power in Saudi Arabia
Southern Saudi Arabia's Aseer region is fast emerging as a new economic powerhouse, fueled by multi-billion-riyal investments across diverse sectors. This transformation is part of a broader government push to unlock the region's economic potential and establish it as a key private sector enabler. The second edition of the Aseer Investment Forum, which opened Tuesday, is expected to draw over SAR 4 billion ($1.06 billion) in new investments. This comes on top of more than SAR 5 billion ($1.33 billion) already secured since the launch of the region's development strategy. Additionally, SAR 25 billion ($6.6 billion) have been committed to strategic government-led projects already underway on the ground. Launched in 2021 by Prince Mohammed bin Salman, Crown Prince and Prime Minister, the Aseer Development Strategy, titled 'Qimam wa Sheym' (Summits and Values), aims to inject SAR 50 billion into a wide range of projects. The initiatives focus on vital infrastructure, tourism development on Aseer's majestic peaks, and long-term growth that merges cultural heritage with modernity. The ultimate goal is to make Aseer a year-round global tourist destination and a catalyst for economic and social development. The investment forum, organized by the Aseer Development Authority, brings together 1,500 key stakeholders, including policymakers, investors, and sector leaders. It aims to accelerate public-private collaboration, foster a competitive investment environment, and support Saudi Arabia's Vision 2030 goals. Officials are seen at the forum on Tuesday. (Asharq Al-Awsat) Strategic partners In his opening remarks, Prince Turki bin Talal, Governor of Aseer and Chairman of the Aseer Development Authority, highlighted the SAR 25 billion already committed to essential infrastructure and development projects. These efforts are backed by strategic partners, such as the Public Investment Fund (PIF), Tourism Development Fund, Social Development Bank, and other financing entities. 'This forum is not merely an economic gathering; it is a strategic milestone,' said Prince Turki. 'It confirms Aseer's transformation into a comprehensive development hub and a vital pillar of the national economy.' Business growth on the rise Participating virtually, Minister of Commerce Dr. Majid Al-Qasabi revealed that Saudi Arabia had registered 1.7 million commercial licenses as of April 2025, 90,000 of which are based in Aseer, representing 5.3% of the national total. He noted that commercial registrations for sole proprietorships have risen by 32%, from 939,000 in 2018 to 1.2 million in 2025. Limited liability company registrations surged 138%, while joint-stock company registrations grew 76% during the same period. Al-Qasabi also highlighted a total trade value of SAR 2.018 trillion ($537 billion) in 2024, with SAR 1.145 trillion in exports and SAR 873 billion in imports. In the services sector, trade reached SAR 542 billion, including SAR 182 billion in service exports. Within Aseer, authorities recorded 24,000 consumer reports and 1,200 violations from April 2024 to April 2025, based on 35,000 inspections conducted by regulatory teams. He outlined seven key reform pillars, including improving the legal framework, enhancing consumer protection, cracking down on price manipulation and fraud, modernizing both traditional and e-commerce environments, expanding international market access, supporting SMEs, and bolstering public-private partnerships. A total of 110 laws have been reviewed or updated as part of this effort. Minister of Tourism Ahmed Al-Khateeb speaks at the forum. (Asharq Al-Awsat Tourism as a growth engine Tourism also features prominently in Aseer's economic resurgence. Minister of Tourism Ahmed Al-Khateeb pointed to the region's abundant natural and cultural resources and emphasized its critical role in achieving sustainable development. According to Al-Khateeb, Aseer attracted 8 million visitors in 2024 from inside and outside the Kingdom, underscoring its rise as a key tourism destination. The region is expected to add 4,000 new hotel rooms in the coming years, supported by government tourism initiatives and increasing interest from global hospitality brands. 'The sector is experiencing continuous growth,' Al-Khateeb noted, adding that Aseer's unique assets are helping drive the national tourism agenda forward. Capital market expansion Meanwhile, Mohammed Al-Kuwaiz, Chairman of the Capital Market Authority, highlighted the evolving role of Saudi Arabia's capital markets from traditional investment platforms to vital sources of business funding. He revealed that over SAR 7.5 billion ($2 billion) in capital market investments are already being channeled into Aseer. This includes established firms such as Southern Cement, as well as newer players in sectors, like poultry and healthcare. 'We're now seeing the emergence of real estate and development funds in Aseer,' Al-Kuwaiz said, noting that approximately SAR 2 billion are currently managed through real estate funds supporting tourism and retail development in the region. Engineer Hashim Al-Dabbagh, Acting CEO of the Aseer Development Authority, told Asharq Al-Awsat that investment is a central pillar of the region's three-part development strategy that is focused on people, economy, and land. He explained that the forum is an essential tool for attracting investments that create jobs and stimulate local economic growth, especially for the region's youth. 'Aseer is not just investing in projects, it's investing in its future,' Al-Dabbagh said.
