Apple to Expand Significantly in Saudi Arabia

The Apple Inc. logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, US, October 16, 2019. REUTERS/Mike Segar/File Photo
The Apple Inc. logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, US, October 16, 2019. REUTERS/Mike Segar/File Photo
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Apple to Expand Significantly in Saudi Arabia

The Apple Inc. logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, US, October 16, 2019. REUTERS/Mike Segar/File Photo
The Apple Inc. logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, US, October 16, 2019. REUTERS/Mike Segar/File Photo

Apple has unveiled plans for a major expansion in Saudi Arabia, including the launch of an online store in 2025. The company has also outlined ambitions to open additional stores across the Kingdom as part of its long-term strategy.
Apple’s expansion will begin with the introduction of the Apple Store online in the summer of 2025. This new platform will provide Saudi customers access to Apple’s full range of products, along with direct support and services available in Arabic for the first time.
First Flagship Store in Diriyah
According to information obtained by Asharq Al-Awsat, Apple’s flagship retail store in Saudi Arabia is scheduled to open in 2026 in Diriyah, a UNESCO World Heritage Site. This location will serve as the centerpiece of Apple’s retail expansion in the Kingdom, offering customers an opportunity to interact with Apple’s products and services while engaging with its team members in an iconic setting.
Apple CEO Tim Cook expressed his excitement about the expansion, saying: “We’re excited to be expanding here in Saudi Arabia with the launch of the Apple Store online next year, and the first of several flagship Apple Store locations starting in 2026, including an iconic store at the stunning site of Diriyah coming later."
He added: “Our teams are looking forward to deepening our connections with customers, and to bringing the best of Apple to help people across this country explore their passions, build their businesses, and take their ideas to the next level.”
Investing in Saudi Arabia’s App Economy
Apple’s retail expansion complements its broader investments in Saudi Arabia. These include the Apple Developer Academy, the first of its kind in the region, which opened in Riyadh in 2021. Established in collaboration with the Saudi government, the academy operates in partnership with Tuwaiq Academy and Princess Nourah Bint Abdulrahman University.
The academy, located on the university’s campus, is exclusively dedicated to training women in programming, design, and entrepreneurship. Since its launch, nearly 2,000 students have completed courses, with many creating applications now available on the App Store for both local and international markets.
Apple has also expanded its educational programs in Saudi Arabia, including hosting its inaugural “Apple Foundation Program” this past summer, which offered students a month-long learning experience.
Boosting Saudi Arabia’s Economy
Apple announced that it will launch the second cohort of its Developer Academy program in the spring of 2025. The company highlighted the role of Saudi developers in driving economic growth, noting that the iOS app economy is generating significant job opportunities and fostering entrepreneurship.
Apple shared that developer earnings in Saudi Arabia have surged by over 1,750% since 2019. The company emphasized its commitment to creating more opportunities in the Kingdom, supporting entrepreneurs, small businesses, and public transport users through advanced technologies.
Over the past five years, Apple has invested more than SAR 10 billion ($2.6 billion) in the Saudi economy through partnerships with local businesses. The company noted that its services have supported enterprises across the country, from small startups to large corporations.
Apple Pay has also gained significant traction in Saudi Arabia since its 2019 launch. Following the opening of the Riyadh Metro, Riyadh became the first Middle Eastern city to adopt Apple Pay’s Express Transit feature, allowing seamless payment for metro and bus services with an iPhone or Apple Watch.
Apple noted that many Saudi users have transitioned entirely to digital payment methods, moving away from physical cards.

 



Egypt Central Bank Keeps Key Interest Rates Unchanged

A general view of Cairo skyline during sunset, with foggy cold weather around the country, Cairo, Egypt February 2, 2023. REUTERS/Amr Abdallah Dalsh/File Photo
A general view of Cairo skyline during sunset, with foggy cold weather around the country, Cairo, Egypt February 2, 2023. REUTERS/Amr Abdallah Dalsh/File Photo
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Egypt Central Bank Keeps Key Interest Rates Unchanged

A general view of Cairo skyline during sunset, with foggy cold weather around the country, Cairo, Egypt February 2, 2023. REUTERS/Amr Abdallah Dalsh/File Photo
A general view of Cairo skyline during sunset, with foggy cold weather around the country, Cairo, Egypt February 2, 2023. REUTERS/Amr Abdallah Dalsh/File Photo

Egypt's central bank kept its key interest rates unchanged on Thursday, it said in a statement.

The overnight lending rate remained at 28.25%, while the overnight deposit rate stood at 27.25%, the central bank said.