Latest news with #SaudiVision2030
Saudi Gazette
2 hours ago
- Business
- Saudi Gazette
Saudi Arabia to expand railway network by over 50% under transport strategy
Saudi Gazette report RIYADH — Saudi Arabia aims to double the transport and logistics sector's contribution to GDP, expand its railway network by over 50%, and more than double current passenger capacity at its airports, as part of a national drive to transform the Kingdom into a global logistics hub. Minister of Transport and Logistics Services Eng. Saleh Al-Jasser revealed the targets during a ministerial session titled 'Shaping the Future of Transport: People, Technology, and Policy' at the Global Aviation and Maritime Transport Summit. He said the Kingdom is advancing steadily to build an integrated transport ecosystem centered on people and powered by technology and modern policies. Al-Jasser highlighted ongoing efforts to develop logistics zones and enhance multimodal integration by connecting transport systems with customs and digital infrastructure, improving service efficiency and nationwide coverage. One key initiative is the integrated logistics zone at Jeddah Islamic Port, directly linked to the main seaport, customs warehouses, and air cargo noted that the zone will soon be connected by rail to King Abdulaziz International Airport through the upcoming land bridge unified national digital logistics platform, which links customs, ports, airlines, and freight forwarders, has already cut customs clearance times by more than 30%, streamlining cargo flow across the in mid-2021, the National Transport and Logistics Strategy is a cornerstone of Saudi Vision 2030. It aims to unify the country's multimodal logistics framework and solidify its position as a leading global his remarks, Al-Jasser stressed that resilience is no longer a strategic option but a necessity for survival in a rapidly changing affirmed that Saudi Arabia is building a fully integrated logistics model that combines infrastructure, policy, and technology to future-proof the sector and strengthen international partnerships.
Syyaha
3 hours ago
- Business
- Syyaha
Saudi Arabia Maintains its First Rank Across MENA for Venture Capital Investment in H1 2025
The 'H1 2025 MENA Venture Investment Report' revealed that Saudi Arabia maintained its first rank across MENA in terms of Venture Capital (VC) funding in H1 2025, witnessing a total VC deployment of $860 Million (SAR 3.2 billion), surpassing the total VC funding of 2024 (full year). This achievement reflects the development the Kingdom is witnessing in various economic and financial sectors in light of the Saudi Vision 2030 and its goals to strengthen the national to the report published today by the venture data platform MAGNiTT, the Kingdom captured the highest share of total VC funding in the MENA region in H1 2025, accounting for 56% of the total capital deployed in the region. The report also revealed that Saudi Arabia achieved a record number of 114 VC deals for the first half of 2025. This confirms the attractiveness of the Saudi market, enhances its competitive environment, and consolidates the strength of the Kingdom's economy as the largest economy in MENADr. Nabeel Koshak, CEO and Board Member at SVC, commented: 'The Kingdom's leading position in the VC scene in the region comes as a result of many governmental initiatives launched to stimulate the VC and startups ecosystem within the Saudi Vision 2030 programs. We at SVC are committed to continuing to lead the development of the ecosystem by stimulating private investors to provide support for startups and SMEs to be capable of fast and high growth, leading to diversifying the national economy and achieving the goals of the Saudi Vision 2030.' SVC is an investment company established in 2018. It is a subsidiary of the SME Bank, part of the National Development Fund (NDF). SVC aims to stimulate and sustain financing for Startups and SMEs from pre-Seed to pre-IPO through investment in funds and direct investment in startups and SMEs.
Leaders
6 hours ago
- Entertainment
- Leaders
City Hub Brings Joy & Fun to Al-Baha
City Hub, an entertainment project launched by the General Entertainment Authority (GEA) across 7 Saudi cities, has arrived in Al-Baha, bringing a comprehensive entertainment experience for all society segments, reported the Saudi Press Agency (SPA). Building on the remarkable success in Jazan, Al-Khobar, Hail and Qaseem, City Hub brings a wide range of entertainment experiences and activities to Al-Baha from July 12-25, 2025. City Hub activities include live shows, interactive spaces, electronic games, educational corners, and family-dedicated zones, in addition to food stalls, and rest areas. The captivating event takes place daily from 5 pm to 1 am, in a locally-inspired setting that reflects the region's identity while adding a modern touch to enhance the visitor's experience. On its first day, City Hub Al-Baha attracted a large number of visitors and residents, who enjoyed brand-new entertainment experiences held for the first time in the region. The City Hub project aligns with efforts to boost the quality of life and achieve the objectives of Saudi Vision 2030 to diversify entertainment and tourism options in the Kingdom. The unique project has also attained huge success in creating mobile entertainment momentum across Saudi Arabia's various regions, moving from city to city and offering region-tailored experiences. Hosting City Hub in Al-Baha underscores GEA's commitment to diversifying entertainment options across Saudi Arabia's regions, enhancing local content, and creating jobs and investment opportunities that elevate the quality of life. The project kicked off in Jazan on January 23, 2025. It includes various stops at Al-Khobar, Buraidah, Hail, Al-Baha, and Taif. The final stop will be at Tabuk, in August 2025. The City Hub project spans an area exceeding 20,000 square meters in each city. It features six zones offering a diverse range of entertainment activities, as well as local and international restaurants and cafes. Short link : Post Views: 75
Zawya
6 hours ago
- Business
- Zawya
Saudi Arabia maintains its first rank across MENA for venture capital investment in H1 2025
Riyadh, Saudi Arabia – The "H1 2025 MENA Venture Investment Report" revealed that Saudi Arabia maintained its first rank across MENA in terms of Venture Capital (VC) funding in H1 2025, witnessing a total VC deployment of $860 Million (SAR 3.2 billion), surpassing the total VC funding of 2024 (full year). This achievement reflects the development the Kingdom is witnessing in various economic and financial sectors in light of the Saudi Vision 2030 and its goals to strengthen the national economy. According to the report published today by the venture data platform MAGNiTT, the Kingdom captured the highest share of total VC funding in the MENA region in H1 2025, accounting for 56% of the total capital deployed in the region. The report also revealed that Saudi Arabia achieved a record number of 114 VC deals for the first half of 2025. This confirms the attractiveness of the Saudi market, enhances its competitive environment, and consolidates the strength of the Kingdom's economy as the largest economy in MENA. Dr. Nabeel Koshak, CEO and Board Member at SVC, commented: "The Kingdom's leading position in the VC scene in the region comes as a result of many governmental initiatives launched to stimulate the VC and startups ecosystem within the Saudi Vision 2030 programs. We at SVC are committed to continuing to lead the development of the ecosystem by stimulating private investors to provide support for startups and SMEs to be capable of fast and high growth, leading to diversifying the national economy and achieving the goals of the Saudi Vision 2030." SVC is an investment company established in 2018. It is a subsidiary of the SME Bank, part of the National Development Fund (NDF). SVC aims to stimulate and sustain financing for Startups and SMEs from pre-Seed to pre-IPO through investment in funds and direct investment in startups and SMEs.
Time of India
9 hours ago
- Business
- Time of India
Forget Burj Khalifa! This country is building the world's tallest tower and it's not US or UAE
Jeddah Tower construction progresses, set to become the world's tallest skyscraper/ Image Composite: Wikipedia, TL;DR Saudi Arabia has resumed construction on Jeddah Tower , set to surpass Dubai's Burj Khalifa in height Once completed, it will become the tallest building in the world, over 1,000 meters The tower is a key part of Saudi Vision 2030 , linked to a $20 billion urban development in Jeddah A record-breaking skyscraper is coming and it's not in Dubai, the US, or China. Saudi Arabia has restarted construction on Jeddah Tower, a mega skyscraper that will soon claim the title of the world's tallest building. Rising more than 1,000 meters (3,280 feet) above the ground, the project aims to surpass Dubai's Burj Khalifa, which currently stands at 828 meters. Once finished, the Jeddah Tower will not only break height records, it will also reshape the skyline of Jeddah, a port city on the Red Sea, and cement Saudi Arabia's position in the global race for architectural innovation and urban development. Work had stopped for years. But now, construction is back in full swing. With new floors being added every few days, the tower is once again moving toward its ambitious finish line, part of a broader push under Saudi Vision 2030 to transform the Kingdom's economy and global image. The comeback of Jeddah Tower The Jeddah Tower was first announced in 2011, and construction began in 2013. But by 2018, work came to a halt due to political and financial issues. For years, the project remained in limbo. In late 2023, the developer invited new bids, signaling a restart. Construction officially resumed in January 2025. Work is now underway on the 64th floor, with crews reportedly completing a new floor every four days. The tower's core is being built using advanced vertical concrete-pumping technology, which has already reached a height of 2,624 feet, an engineering milestone. Part of a city-scale development Jeddah Tower isn't being built in isolation. It's the centerpiece of the Jeddah Economic City project, a $20 billion masterplan covering homes, schools, hospitals, commercial offices, and public infrastructure. The wider development is expected to support a population of more than 100,000 people, making it a full-scale urban hub. The tower will include 157 floors, 59 elevators, a luxury hotel, residences, office spaces, and what's projected to be the world's highest observation deck. For Saudi Arabia, this isn't just about holding a world record. It's about building a modern, sustainable urban model that reflects the country's ambitions beyond oil. The architect behind Burj Khalifa is aiming even higher The man behind the Jeddah Tower design is Adrian Smith, the same architect who led the design of the Burj Khalifa. This time, he's working with his firm Adrian Smith + Gordon Gill Architecture to go further, not just in height, but in design efficiency and sustainability. His team is using innovative structural systems to ensure the building can withstand the extreme conditions of height, heat, and coastal weather. In many ways, this project is Smith's second attempt at pushing the boundaries of what a skyscraper can be. A bold statement for Saudi Vision 2030 The Jeddah Tower is one of the most visible symbols of Saudi Vision 2030, the Kingdom's plan to shift its economy away from oil and become a center for business, culture, and tourism. Projects like NEOM and the Red Sea development are part of this larger strategy. But Jeddah Tower, by sheer scale and global attention, is arguably its most iconic. If completed by the target date of 2028, it will be a clear signal that Saudi Arabia is serious about leading the next era of urban innovation and high-rise engineering. FAQs Q: How tall will Jeddah Tower be compared to Burj Khalifa? Jeddah Tower is planned to reach over 3,280 feet (1,000+ meters). That's roughly 560 feet taller than the Burj Khalifa in Dubai. Q: Why was the project delayed for so long? Construction paused in 2018 due to labor and political issues but work officially resumed in January 2025 after a proposal phase began in late 2023 Q: When is the expected completion date? The tower is currently projected to be completed by 2028, but that may shift depending on construction pace.
