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Saudi Arabia Advances to Become the ‘Silicon Valley’ of Mining

The Saudi Energy Minister reviews data on critical mineral extraction and processing in several countries (Asharq Al-Awsat)
The Saudi Energy Minister reviews data on critical mineral extraction and processing in several countries (Asharq Al-Awsat)
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Saudi Arabia Advances to Become the ‘Silicon Valley’ of Mining

The Saudi Energy Minister reviews data on critical mineral extraction and processing in several countries (Asharq Al-Awsat)
The Saudi Energy Minister reviews data on critical mineral extraction and processing in several countries (Asharq Al-Awsat)

Saudi Arabia is pushing to become a global hub for critical minerals, aiming to be the “Silicon Valley” of mining. At the fourth Future Minerals Forum in Riyadh, the kingdom announced new deals, investment plans, and discoveries.
Industry Minister Bandar Al-Khorayef said Saudi Arabia will explore mineral opportunities across 50,000 square kilometers this year. The Kingdom also unveiled a $100 billion mining investment plan, with $20 billion already in advanced stages or under construction.
Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman announced that Aramco has identified “promising” lithium concentrations exceeding 400 parts per million in its operational areas, with lithium production in the kingdom expected to begin as early as 2027.
In line with this, Aramco revealed a joint venture with Saudi Arabian Mining Company (Ma’aden) to explore and produce minerals critical to the energy transition, including extracting lithium from high-concentration deposits.
The latest edition of the Future Minerals Forum brought together over 20,000 participants from 170 countries and featured 250 speakers across more than 70 sessions.
Saudi ministers and international officials highlighted key challenges facing the mining sector, including the need for increased private sector investment, advanced technology, regulatory frameworks, supply chain issues, carbon emissions from production, and a shortage of skilled talent.
In early 2024, Saudi Arabia’s Ministry of Industry and Mineral Resources raised its estimate of the kingdom’s untapped mineral resources from $1.3 trillion to $2.5 trillion, driven by new discoveries.
At last year’s forum, the ministry launched a $182 million mineral exploration incentive program to reduce investment risks, support new commodities, promote green projects, and empower small-scale mining operators.
Additionally, Al-Khorayef launched the Mining Innovation Studio at the Future Mineral Forum 2025.
In his opening remarks, Al-Khorayef stated that the new studio was designed to attract global talent and accelerate cutting-edge technology, in alignment with Riyadh’s vision to become the “Silicon Valley of mining”.
He clarified that the Kingdom is promoting upcoming exploration opportunities across 5,000 square kilometers of mineralized belts in 2025 as it continues its steadfast growth in the mining sector.
Al-Khorayef further noted that the Saudi mining sector is the fastest growing globally, and affirmed that its mineral potential stands at an estimated $2.5 trillion.
He elaborated that the allocation of new exploration sites to tap mineral wealth is part of Saudi Arabia’s efforts to establish mining as the third pillar of the Kingdom’s industrial economy.

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Saudi Arabia Expands Homeownership Eligibility in Government Housing Projects

A project by the Saudi Ministry of Rural Affairs and Housing. (Asharq Al-Awsat)
A project by the Saudi Ministry of Rural Affairs and Housing. (Asharq Al-Awsat)
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Saudi Arabia Expands Homeownership Eligibility in Government Housing Projects

A project by the Saudi Ministry of Rural Affairs and Housing. (Asharq Al-Awsat)
A project by the Saudi Ministry of Rural Affairs and Housing. (Asharq Al-Awsat)

Saudi Arabia’s Cabinet has approved a new decision allowing the Ministry of Municipal and Rural Affairs and Housing to sell residential units within its housing projects to individuals who are not beneficiaries of government housing support. Real estate experts view the move as a strategic shift that boosts the flexibility of public asset management and maximizes the use of available housing stock.

The decision is expected to boost supply, improve market balance, and promote sustainability in the housing sector.

According to Abdulrahman Al-Tawil, Deputy Minister for Residential Supply Stimulus and Real Estate Development, the decision aims to broaden access to homeownership by including new population segments. Families and individuals who do not qualify for housing support will now be able to purchase units or relocate between homes in new suburban developments overseen by the ministry.

Single individuals and those who previously received loans from the Real Estate Development Fund will be eligible to buy homes in projects launched within the past two years. However, non-beneficiaries will purchase units at market rates, while support recipients will continue to receive financial assistance.

Al-Tawil emphasized that each project will initially offer a four-month window of exclusive sales to support beneficiaries before opening to the wider public.

The move is also designed to align housing supply with urban demand. Al-Tawil cited over 100,000 housing units currently available in Riyadh, offering a range of ownership options that address diverse needs.

Real estate appraiser Eng. Ahmed Al-Faqih believes the decision will have a significant impact on the market by strengthening housing supply and supporting price stability.

The entry of the National Housing Company into the private market adds a new, competitive dynamic that developers must consider when pricing their products, he told Asharq Al-Awsat.

This competition, he said, will not only influence pricing but also encourage developers to prioritize quality—an essential goal of Saudi Arabia’s Vision 2030.

Real estate expert Saqr Al-Zahrani also praised the decision. Speaking to Asharq Al-Awsat, he said it addresses the issue of unsold inventory and offers homeownership opportunities to underserved citizens. He highlighted its potential to generate non-oil revenue and support long-term project sustainability without compromising the priority status of current beneficiaries.

Expanding ownership eligibility could help close gaps in the real estate market, especially in cities where ownership remains low, he added, while expecting the decision to encourage innovation in housing development and financing, further stimulating competition between public and private sectors.

On the issue of housing inflation, Al-Zahrani noted that increasing actual supply will reduce speculative activity and promote more disciplined pricing. This is especially critical for middle-income buyers who face volatility in the current market.

Effective implementation of the policy, supported by clear regulations and transparency, will be vital to achieving its intended outcomes, he remarked.