Latest news with #SaudiArabia
The National
43 minutes ago
- Business
- The National
Saudi Arabia's property market offers promise of reliable returns for global investors
Global investors are now sizing up the profit returns from Saudi Arabia's real estate market, as the kingdom's once closed-off sector will soon be accessible. Interest has peaked, especially as opportunities to buy into megaprojects such as Neom's The Line, Oxagon and Diriyah are expected. On July 8, the Saudi cabinet approved the Law of Real Estate Ownership and Investment by Non-Saudis, replacing a framework from 2000 and formally opening designated zones across the kingdom, including Riyadh and Jeddah, to foreign ownership from January 2026. This sweeping reform aligns with the kingdom's Vision 2030 target to diversify the economy, boost foreign direct investment and expand real estate supply, while protecting sovereign interests through controlled zone designations. Foreign investors are probably asking what type of return on investment they could receive given the kingdom's activity, and the potential is promising. How ready is the market? Following publication in the official gazette, the Real Estate General Authority must publish implementing regulations on the Istitlaa platform within 180 days. It has time to define zones open to foreign buyers and prescribe approval processes. The Ministry of Investment will streamline foreign investment approvals and the Ministry of Interior will integrate land-registry data with security protocols. Together, these institutions must co-ordinate licensing, title registration and compliance checks to launch transactional platforms by the start of 2026. Saudi Arabia's government has demonstrated capacity for rapid digital roll-outs, exemplified by e-government portals and integrated identity systems, suggesting core registry upgrades can be delivered on schedule. Moreover, existing permissions already enabled foreign citizens to invest indirectly – for example, through Premium Residency, licensed developers, or real estate funds – creating precedents for a more structured regime, but the main hurdles could involve: Regulatory consultation, by compressing public comment cycles to meet the 180-day deadline. IT integration, by updating national land registries to handle new ownership categories and cross-border title verification. A financing ecosystem, which would need to be adapted, especially the mortgage frameworks for foreign buyers that will include risk and compliance protocols. With Vision 2030's political backing, a January 2026 activation is credible. Advancing to an April 2026 operational window will depend on top-level prioritisation of the law and dedicated interministerial task forces. Global market comparison This move by Saudi Arabia feels very much like Dubai did back in 2002, when it opened certain areas for foreign ownership. With the reforms of the country also making headlines, now would be a great time for any investor to get in early and benefit from capital appreciation of real estate as the market opens further. All of this will of course take time, as Dubai has shown, the period needed for the real estate market to lead to maturity takes time. Notwithstanding this, I think Saudi Arabia and its investors are in a great position to benefit from this move going forward. Global investors with their eyes on Saudi Arabia must consider local returns against Gulf and global benchmarks. In the fourth quarter of 2024, Saudi Arabia's real estate price index rose 3.6 per cent year-on-year, led by a 10.2 per cent price surge in Riyadh and 4.6 per cent in Najran. Meanwhile, rental markets remain strong. Riyadh yields average 8.89 per cent and Jeddah 7.89 per cent gross annually. If we were to compare Saudi Arabia with the UAE, the US and the UK, Dubai delivers rental yields between 5 per cent and 11 per cent, buoyed by robust demand in mixed-use and luxury segments and the golden visa programme. The US's average gross rental yield is 6.68 per cent as of the second quarter of 2025, with high-yield cities such as Detroit exceeding 20 per cent. The UK average buy-to-let gross yield stands at 5.60 per cent, with cities including Sunderland and Aberdeen offering yields above 8 per cent. Saudi Arabia's combination of double-digit yields and mid-single-digit price appreciation positions it competitively within the Gulf and many western markets. More needed Real estate market maturity marked by liquidity, transparency and global investor confidence will take time as has been shown in the UAE, but as long as Saudi Arabia build the below, it should be well on its way to maturity in the years to come. Secondary market depth will be needed by launching real estate investment trusts and collective investment schemes to deepen capital pools and improve liquidity. Valuation standards will need to be upgraded by establishing independent appraisal bodies and aligning with IFRS 13 for fair-value reporting. Legal and dispute resolution will also require upgrading, by expanding specialised real estate courts and arbitration centres to protect investor rights. Financing and securitisation will need to be more competitive by developing covered-bond and mortgage-securitisation markets to diversify funding and lower borrowing costs. These enhancements, while not prerequisites for the January 2026 opening, will be essential for evolving from a frontier to a mature market akin to the UK and US over several years. The opening of Saudi Arabia's real estate market is one of the most consequential investment gateways in the region since the UAE did the same more than 20 years ago. Regulatory foundations appear on track for January 2026, with an April 2026 operational window possible, if expedited. Early market metrics, robust price growth and high rental yields will underscore strong growth potential. But full maturation will depend on continued reforms in liquidity, transparency and financing infrastructure. For global investors, Saudi Arabia offers frontier-market yields with the promise of a reliable long-term destination as institutional frameworks deepen under the Vision 2030 initiative.
The National
an hour ago
- Business
- The National
How to own property in Saudi Arabia
A whole new property market is to open up to international buyers and it is from the Middle East's largest economy. Starting in January 2026, Saudi Arabia will allow foreign investors to buy property in the kingdom. It has left global investors eager to find out how they can tap into Saudi Arabia's fast growing real estate market, which is expected to reach more than $94 billion by 2028. But how easy will it be for a foreign investor to buy property in the kingdom? Will there be a language barrier? Are the kingdom's regulatory systems able to work with foreign buyers yet? We explore these questions and more on this episode of Business Extra, where host Salim A Essaid hears from Faisal Durrani, a partner and head of research for the Middle East and North Africa at Knight Frank Middle East.
Asharq Al-Awsat
3 hours ago
- Entertainment
- Asharq Al-Awsat
16 Teams Compete in ‘Mobile Legends: Bang Bang' Women's Tournament in Riyadh
The second week of the Esports World Cup 2025 kicked off in Riyadh on Tuesday featuring the 'Mobile Legends: Bang Bang' Women's Invitational (MWI). The tournament is a key event on the competition's calendar, bringing together top global mobile gaming stars for the second consecutive year, reported the Saudi Press Agency. Since its release in 2016, 'Mobile Legends: Bang Bang' has established itself as one of the world's leading esports titles, thanks to its widely followed international and regional tournaments. With over 110 million monthly active users, it has become one of the most popular mobile multiplayer online battle arena (MOBA) games globally. This year's edition is the largest in the tournament's history, featuring 16 teams compared to 12 last year, with qualifiers held across 57 regions worldwide, up from 46 regions in the previous edition. The current edition features 16 teams representing 13 regions from around the world. The participating teams are Team Vitality, ONIC Pertiwi, Natus Vincere PH, Team Liquid, Natus Vincere MY, SFU Serendipity, Falcons Vega MENA, DreamMax Girls, Rising Rage, WAOW GG Esports, FE, FUT Esports, Gaimin Gladiators, Twisted Minds Orchid, Tidal Legends Gaming, and Terror Queens. The teams will compete for a total prize pool of $500,000, with an additional $50,000 awarded to the best player. The tournament also offers 3,350 points toward the Club Championship race in the Esports World Cup 2025. Saudi Arabia and Egypt are prominently represented by Twisted Minds Orchid and Falcons Vega MENA, both aiming for their first title in the tournament and carrying the hopes of their supporters for a historic achievement. Twisted Minds Orchid features Saudi players 'Lyrx,' 'Lunar,' and 'Livin,' while Falcons Vega MENA competes with an all-Egyptian lineup of 'Velvet,' 'Sunlight,' 'Yui,' 'Names,' and 'Fvvn.'
Arab News
4 hours ago
- Business
- Arab News
Zain KSA and Cisco to develop AI infrastructure
Zain KSA, a provider of telecommunications and digital services in Saudi Arabia, has signed a memorandum of understanding with Cisco, a global leader in networking and security, focusing on the development of cutting-edge AI infrastructure and GPU-as-a-service. The agreement will leverage Cisco's advanced, end-to-end infrastructure solutions for securely building and scaling AI workloads, supporting Zain KSA in delivering high-performance, resilient, and reliable GPU-powered services to the Saudi market. The MoU is part of Zain KSA's strategy to actively align with Saudi Arabia's Vision 2030 goals by driving digital transformation and positioning the Kingdom as a global digital innovation hub, particularly in the AI space. The MoU also includes exploring opportunities for training programs to upskil local talent, in line with Zain KSA's commitment to ICT skills development. As part of the collaboration, Zain KSA will leverage its deep market knowledge, cutting-edge digital capabilities, and targeted investments alongside Cisco's global expertise in AI-ready infrastructure development. The initiative will create new solutions and commercial models to enable customers across various sectors to confidently and easily adopt AI solutions. The MoU also includes exploring opportunities for training programs to upskil local talent, in line with Zain KSA's commitment to ICT skills development to support long-term national AI capabilities. Fahad Sahmi Al-Sahmah, vice president of B2B sales, Zain KSA, said: 'At Zain KSA, we are mobilizing all our capabilities and investments to drive nationwide digital innovation, positioning the Kingdom as a global hub, a digital economy powered by future-looking GenAI solutions and applications. These efforts aim to empower all stakeholders, including government entities, businesses, and individuals, to harness the boundless potential of AI in support of national goals. This strategic collaboration with Cisco, positions us well to explore, develop, and innovate use cases, as we continue building a resilient, integrated and agile digital ecosystem that can embrace next-gen technologies and deploy them in the Kingdom.' Zayan Sadek, managing director for service providers at Cisco Middle East, Türkiye and Africa, said: 'Cisco is excited to collaborate with Zain KSA to pave the way for a transformative AI-powered future in Saudi Arabia. By combining Zain KSA's digital expertise with Cisco's cutting-edge AI infrastructure technologies, we aim to unlock new possibilities to empower businesses to thrive in the AI era and position Saudi Arabia as a global hub for advanced technologies.'
Arab News
4 hours ago
- Entertainment
- Arab News
Spotify named official audio streaming partner for Esports World Cup 2025
The Esports World Cup Foundation has announced a partnership with Spotify, the world's most popular audio streaming subscription service, as the official audio streaming partner for the Esports World Cup 2025. The collaboration will bring fans an immersive audio experience throughout the world's largest esports and gaming event — powered by Spotify's library of more than 100 million tracks. As part of the partnership, Spotify will launch the EWC Music Hub, featuring official tournament anthems that form part of the EWC music identity, along with Spotify-curated gaming playlists designed to elevate the in-game and fan experience. The partnership also includes artist collaborations and on-site content creation with EWC creators and fans to deepen the personal connection between sound and gameplay. Music will take center stage at EWC 2025. Earlier this month, the Esports World Cup Foundation announced that global icon Post Malone will headline the opening ceremony on July 10. The event will also include the live debut of 'Til My Fingers Bleed,' performed by Dino of Seventeen, Duckwrth, and Telle Smith of The Word Alive, alongside appearances by Grammy-nominated producer Alesso and renowned cellist Tina Guo. 'Our partnership with Spotify extends the Esports World Cup experience beyond the arena, inviting fans into the heart of the tournament through music and sound,' said Mohammed Al-Nimer, chief commercial officer at the Esports World Cup Foundation. 'This partnership brings our EWC Music vision to life: blending original music, global artists, and fan-driven playlists to create deeper connections with audiences and celebrate our unique ecosystem.' 'We're thrilled to partner with the Esports World Cup, a global event that shares our passion for music, fandom, and culture,' said Akshat Harbola, Spotify's managing director for MENAP. 'On Spotify, we've seen firsthand how music and gaming come together to create powerful, immersive moments. In fact, Saudi Arabia has the highest share of music streamed via gaming consoles on our platform globally — a clear signal that music is a core part of the gaming experience here. 'Together, we're creating iconic experiences and content that inspire and elevate the gaming community.' Returning to Riyadh, from July 7 to Aug. 24, the Esports World Cup Festival will unite gaming and esports communities for a global celebration of gaming and esports culture. With esports tournaments, live music, retro arcades, anime cafes, cosplay, creator studios, and more, the EWC Festival will offer millions of fans exclusive experiences celebrating their love of the game. The EWC 2025 will feature 2,000 elite players and 200 clubs from more than 100 countries, competing in 25 tournaments across 24 games for a record-breaking $70+ million prize pool.
