International Investors to Launch Global Real Estate Development Company in Saudi Arabia

The beginning of 2024 will witness the establishment of a Saudi-US-Singapore partnership alliance. (Asharq Al-Awsat)
The beginning of 2024 will witness the establishment of a Saudi-US-Singapore partnership alliance. (Asharq Al-Awsat)
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International Investors to Launch Global Real Estate Development Company in Saudi Arabia

The beginning of 2024 will witness the establishment of a Saudi-US-Singapore partnership alliance. (Asharq Al-Awsat)
The beginning of 2024 will witness the establishment of a Saudi-US-Singapore partnership alliance. (Asharq Al-Awsat)

Saudi Arabia is preparing to host regional headquarters for a number of international companies in conjunction with the launch of giant projects stimulating foreign and local investment. Experts, meanwhile, expected an increase in the pace of growth of the real estate sector in the Kingdom.

In remarks to Asharq Al-Awsat, Economist and Businessman Abdullah bin Zaid Al-Malehi said international investors were planning to enter the Saudi market in order to launch a global company in the field of real estate development to keep pace with the stimulating growth in various projects and initiatives.

Al-Malehi, one of the co-founders of the new real estate company, stressed that real estate development has become one of the most important engines of the Saudi economy.

He said the size of the real estate market was estimated at SAR 3 trillion ($800 billion), while the value of real estate funds amounted to SAR 140 billion ($37.3 billion).

He revealed that the new company plans to start its business in Saudi Arabia early next year, saying: “The beginning of 2024 will witness a Saudi-American-Singaporean partnership alliance to develop a global real estate development company in the Middle East region.”

Based in Riyadh, the company will develop residential and hotel real estate projects through the use of new technology and international brand names, he remarked.

According to Al-Malehi, the planned global real estate company is seeking to launch real estate projects with a distinctive idea that meets global technologies and the aspirations of Saudi youth, who make up more than 65 percent of the population, and provides an environment of comfort and luxury.

Dr. Abdel-Rahman Baeshen, head of the Al Shorouk Center for Economic Studies, expected that the coming period would witness a boom in the real estate sector in the Kingdom as many international companies will move their regional headquarters to Saudi Arabia to take advantage of the Green Middle East and Saudi Green initiatives.

Baeshen noted that investors will have the opportunity to benefit from Artificial Intelligence in real estate investment to improve management and operation activities, with the use of smart technology and solutions for security and building control.

He also said the real estate sector will play a major role in raising the country’s GDP and creating job opportunities in the sector by 2030.



Oil Steadies as Investors Weigh Impact of Latest US Sanctions on Iran

 Tankers anchor near Venezuelan state oil company PDVSA's Jose terminal while waiting to load and discharge, in Puerto La Cruz, Venezuela August 9, 2026. (Reuters)
Tankers anchor near Venezuelan state oil company PDVSA's Jose terminal while waiting to load and discharge, in Puerto La Cruz, Venezuela August 9, 2026. (Reuters)
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Oil Steadies as Investors Weigh Impact of Latest US Sanctions on Iran

 Tankers anchor near Venezuelan state oil company PDVSA's Jose terminal while waiting to load and discharge, in Puerto La Cruz, Venezuela August 9, 2026. (Reuters)
Tankers anchor near Venezuelan state oil company PDVSA's Jose terminal while waiting to load and discharge, in Puerto La Cruz, Venezuela August 9, 2026. (Reuters)

Oil prices recovered ground on Tuesday after settling down more than 2% in the previous session, with investors assessing the impact of the latest US sanctions against Iran.

Brent crude futures rose 27 cents, or 0.3%, to $92.44 a barrel by 0330 GMT, while US West Texas Intermediate crude was up 37 cents, or 0.4%, at $85.38.

Both contracts settled lower on Monday, with US crude oil falling to a one-week low on profit taking after prices rallied over the previous two weeks.

"The market seems largely unfazed by Washington's push for tighter economic pressure ‌on Iran, with ‌traders treating the US effort to nudge partners away from Iranian ‌trade ⁠as marginal rather than ⁠market moving," said ING commodity strategists in a note on Tuesday.

US Treasury Secretary Scott Bessent on Monday unveiled an expansion of sanctions to cut off Iran's economic lifeline, to force an end to the war between them, telling countries they would need to sever their business ties or risk being cut out of the dollar-based financial system.

However, he declined to identify the countries that would be targeted or reveal when those penalties would take effect, saying ⁠he would instead provide them time to comply with ‌the new directive.

While US Defense Secretary Pete Hegseth said ‌on Monday the US would not rule out using military force against Iran, the country is turning ‌towards more economic coercion, which analysts said removed concerns about threats to Middle ‌Eastern oil supply because of the war.

"Markets appear to be pricing economic pressure as a lower-risk path for physical supply than kinetic action, which is why the initial reaction was for oil to move lower rather than spike higher," said Tim Waterer, chief market analyst at KCM.

However, he warned, "Iran still ‌retains the ability to respond by disrupting shipping, which continues to keep a residual premium in the oil price."

Iran is still maintaining it should have control over the key Strait of Hormuz, which before the war started in February typically carried cargoes equal to about 20% of global oil use. On Monday, it named 45 tankers that had broken its rules on crossing the strait and threatened action against them, including confiscating their cargoes.

The supply disruptions as a result of the US-Israeli war on Iran that started on February 28 have caused countries to draw down their commercial and strategic reserves.

On Monday, the Department of Energy reported stocks of crude oil in the US Strategic Petroleum Reserve fell by about 3.7 million barrels to 289.7 million barrels last week, the lowest since November 1982.


Gold Steadies after Hitting over 3-month Peak, US Inflation Data Looms

A saleswoman adjusts gold jewelry displayed for sale in a shop in Lianyungang City, eastern Jiangsu Province, China (AFP)
A saleswoman adjusts gold jewelry displayed for sale in a shop in Lianyungang City, eastern Jiangsu Province, China (AFP)
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Gold Steadies after Hitting over 3-month Peak, US Inflation Data Looms

A saleswoman adjusts gold jewelry displayed for sale in a shop in Lianyungang City, eastern Jiangsu Province, China (AFP)
A saleswoman adjusts gold jewelry displayed for sale in a shop in Lianyungang City, eastern Jiangsu Province, China (AFP)

Gold held steady after hitting its highest in more than three months on Tuesday, as investor focus shifted to upcoming US inflation data and a speech later this week by Federal Reserve Chair Kevin Warsh.

Spot gold steadied at $4,645.67 per ounce by 0651 GMT, after scaling its highest since May 14 earlier. US gold futures rose 0.1% to $4,702.00.

"Looking ahead, we expect dips in gold to be well-supported from ⁠buyers looking for ⁠gold to make its way towards the next upside resistance at $4,900/$5,000," IG market analyst Tony Sycamore said.

Prices rose sharply last week after the US Treasury Department said it would double the size of liquidity support buyback operations for longer-dated notes and bonds. The announcement spurred currency debasement fears.

"These US ⁠dollar debasement fears should see gold be well-supported in the coming weeks, as the Fed has not been sending a clear signal it is ready to fight higher inflation," TD Securities said in a note.

"However, it's too early for the metal to surge to our $5,350/oz target, given the risk rates on the short term may eventually rise as crude grinds higher."

While gold is widely regarded as an inflation hedge, elevated rates can curb its appeal as it is a ⁠non-yielding asset.

Fed Chairman ⁠Warsh's debut speech at the annual Jackson Hole conference this week has taken on added weight as traders and analysts look for guidance about the recent jump in bond yields and for reassurance of his independence from the Trump administration.

The US Personal Consumption Expenditures report, the Fed's preferred inflation gauge, is due on Wednesday.

On the geopolitical front, Iran promised to retaliate against expanded US economic sanctions that Washington said would cut off Tehran's economic lifeline.

Among other metals, spot silver fell 0.7% to $68.43 per ounce, platinum lost 1.1% to $1,854.67 and palladium slipped 1.4% to $1,338.15.


Saudi Economic Growth Draws Foreign Investment

Saudi Arabia and France strengthened cultural cooperation through nine executive programs during the French president’s visit in December 2024. (SPA)
Saudi Arabia and France strengthened cultural cooperation through nine executive programs during the French president’s visit in December 2024. (SPA)
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Saudi Economic Growth Draws Foreign Investment

Saudi Arabia and France strengthened cultural cooperation through nine executive programs during the French president’s visit in December 2024. (SPA)
Saudi Arabia and France strengthened cultural cooperation through nine executive programs during the French president’s visit in December 2024. (SPA)

French President Emmanuel Macron described the visit of Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, to France as an important milestone in bilateral relations.

“The Saudi Crown Prince’s visit to France marks an important stage,” Macron wrote on X ahead of his meeting with the Crown Prince. “Faced with the challenges in the region, France and Saudi Arabia have always worked together to promote peace and stability and will continue their consultations to this end.”

Macron said the partnership was rooted in action, spanning major projects, advanced technologies, investment and international events, including the Esports World Cup held in France this summer. “We have achieved a great deal together, and we want to go further,” he added.

In a second post, Macron said France was proud to have hosted the Esports World Cup “at Saudi Arabia’s request,” describing its success as the product of a shared ambition to develop talent and bring the two countries closer.

Shared economic ambitions

Macron’s remarks reflect not only the state of Saudi-French relations, but also their ambitions. Data from both countries show that economic ties, broadly encompassing trade, investment and other commercial activities, are expanding, with both sides seeking further growth.

One aim of the Crown Prince’s visit is to accelerate those ambitions. The Crown Prince and Macron chaired the first meeting of the Saudi-French Strategic Partnership Council, established in late 2024, at the Élysée Palace on Monday.

Saudi Arabia, which is moving rapidly into new strategic sectors, is seeking partnerships that build on decades of cooperation. Artificial intelligence, digital technologies, innovative and low-carbon industries and environmental sustainability are among the areas at the heart of Vision 2030.

France, meanwhile, is seeking to align its economic agenda with Saudi Arabia’s and participate in the Kingdom’s major development projects.

The ‘new economy’

A briefing by the Saudi Ministry of Investment highlighted the Kingdom’s economic strengths and the incentives it offers investors seeking access to the region’s largest economy.

Bilateral trade reached €10.1 billion last year, up 7.2% from the previous year. French direct investment in Saudi Arabia exceeded €16 billion in 2024, spread across 18 sectors and 651 licenses.

Macron has repeatedly encouraged Saudi investment in France while urging French companies to pursue opportunities in the Kingdom.

French presidential sources said the planned opening of a Saudi Public Investment Fund (PIF) office in Paris could help increase the Kingdom’s still relatively modest investment in France.

Paris, for its part, pointed to France’s record in attracting foreign investment. EY’s 2026 European Attractiveness Survey ranked France first in Europe for international investment projects for a seventh consecutive year, with 852 projects last year, ahead of the United Kingdom with 730 and Germany with 548. Europe’s 47 countries attracted a combined 5,026 projects.

Growth attracts investment

The French-Saudi Investment Roundtable held in Paris on Monday focused on investment and new opportunities, bringing together executives from major companies in both countries.

French businesses have traditionally concentrated on energy, water, transport, logistics, construction, hospitality and health care in Saudi Arabia. That footprint is now expanding into AI, digital infrastructure, culture, creative industries and mining.

Available figures show that the PIF invested about €7.36 billion in France between 2017 and 2024, supporting some 29,000 jobs. A financing memorandum between the PIF and state-backed Bpifrance also established a framework for €8.56 billion in new investment.

Laurent Germain, CEO of engineering and infrastructure consultancy at Egis, said he attended the forum to meet clients who had traveled to Paris for the occasion and to explore opportunities for new projects.

Egis has generated €300 million from its Saudi operations and employs 1,700 people there, most of them Saudis, in line with the government’s Saudization drive.

Germain described the Saudi economy as highly attractive, citing growth of around 4%, above global rates.

Egis intends to expand its investment in the Kingdom and continue supporting Saudi Vision 2030, launched a decade ago, he revealed.

The company has worked on projects, including Qiddiya, Diriyah, AlUla and the Riyadh Metro.

Florence Verzelen, executive vice president at Dassault Systèmes, similarly highlighted Saudi Arabia’s economic growth as a key attraction, saying it was among the highest in the Gulf region and globally.

The €5 billion company focuses on digitalization and AI, using virtual modeling to help accelerate the transition to real-world production. Its technologies are used in aircraft and electric vehicle manufacturing, infrastructure and nuclear projects, as well as pharmaceuticals.

Its Saudi clients include Aramco, railway operators, NEOM, AlUla and food producers, while it also has activities in the defense sector.

Verzelen highlighted Saudi Arabia’s recognition of the importance of the digital economy and its potential for practical applications.