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Saudi House Pavilion to Debut at WEF AM25

This will be the second time Saudi House features at the WEF Annual Meeting
This will be the second time Saudi House features at the WEF Annual Meeting
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Saudi House Pavilion to Debut at WEF AM25

This will be the second time Saudi House features at the WEF Annual Meeting
This will be the second time Saudi House features at the WEF Annual Meeting

Saudi Arabia on Saturday announced the first-ever Saudi House pavilion for the World Economic Forum (WEF) Annual Meeting, which takes place from 20-24 January 2025 in Davos, Switzerland. It will be the second time Saudi House features at the WEF Annual Meeting, and the first time it will host a standalone pavilion.
Hosted by the Ministry of Economy and Planning (MEP), Saudi House provides a platform where global thought leaders convene to discuss and dissect the challenges, opportunities and solutions defining the present and shaping the future of the global economy, according to SPA.
The global dialogues hosted at the Saudi House pavilion will also explore the impact of the social and economic transformation underway across the Kingdom, and the unprecedented opportunities to grow, innovate and invest in Saudi Arabia that continue to emerge under Saudi Vision 2030.
Set to host industry-leading entities from a broad spectrum of sectors to its dedicated space in Davos, the Saudi House pavilion marks a significant expansion of the Kingdom’s long-standing presence and participation at the World Economic Forum’s Annual Meeting.
Alongside MEP, the entities represented and participating in Saudi House include the Ministry of Health, the Ministry of Transport and Logistics Services, the Ministry of Communications and Information Technology, the Ministry of Tourism, the Ministry of Investment, the Royal Commission for Jubail and Yanbu, the Royal Commission of AlUla, the General Authority for Civil Aviation (GACA), the Saudi Tourism Authority (STA), the Research Development and Innovation Authority (RDIA), the Centre for the Fourth Industrial Revolution in Saudi Arabia (C4IR), and Diriyah Company.
Representatives from the Saudi entities will participate in more than 15 sessions, including 10 WEF-accredited sessions on topics including the future of the global economy, the future of trade and logistics, investment, aviation and sustainable tourism.
The 55th WEF Annual Meeting is taking place under the theme of “Collaboration for the Intelligent Age”, and will convene global leaders to explore how to address geopolitical shocks, stimulate growth to improve living standards, and steward a just and inclusive energy transition.
The 55th annual meeting of the World Economic Forum will convene the foremost leaders from government, business and civil society, as well as preeminent scientific and cultural thinkers. The Forum brings together representatives from more than 100 governments, major international organizations, and more than 1,000 major private sector players, in addition to young changemakers and representatives of civil society and academic institutions.

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Business

Saudi Arabia Expands Tourist E-Visa Eligibility to Four More Countries

The tourist visa allows visitors to attend events, perform Umrah, and visit exhibitions and conferences (SPA)
The tourist visa allows visitors to attend events, perform Umrah, and visit exhibitions and conferences (SPA)
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Saudi Arabia Expands Tourist E-Visa Eligibility to Four More Countries

The tourist visa allows visitors to attend events, perform Umrah, and visit exhibitions and conferences (SPA)
The tourist visa allows visitors to attend events, perform Umrah, and visit exhibitions and conferences (SPA)

Saudi Arabia has expanded its electronic tourist visa program by adding four countries to the list of eligible nationalities: Mexico, North Macedonia, Serbia, and Bosnia and Herzegovina.

The Ministry of Tourism said the move is part of ongoing efforts to facilitate travel to the Kingdom for visitors from around the world, allowing citizens of the newly added countries to apply electronically for tourist visit visas.

The tourist visa also permits holders to attend events, perform Umrah, visit exhibitions and conferences, and visit relatives and friends, in accordance with applicable regulations and instructions.

Business

50-Year Contracts Open New Horizons for Real Estate Investment in Saudi Arabia

A neighborhood in the Saudi capital, Riyadh (SPA)
A neighborhood in the Saudi capital, Riyadh (SPA)
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50-Year Contracts Open New Horizons for Real Estate Investment in Saudi Arabia

A neighborhood in the Saudi capital, Riyadh (SPA)
A neighborhood in the Saudi capital, Riyadh (SPA)

Long-term real estate investment models are opening new opportunities for Saudi Arabia's private sector, as the Kingdom seeks to expand partnerships with investors to develop municipal assets and transform them into mixed-use projects.

The approach is expected to enhance the appeal of the real estate market, create investment opportunities spanning decades, and attract domestic and international capital to urban development. It also aims to improve land-use efficiency, maximize the economic value of municipal assets and increase housing supply.

Riyadh Region Municipality, the Ministry of Municipalities and Housing, and the National Center for Privatization & PPP (NCP) announced the launch of the expression of interest, prequalification and proposal submission phases for a joint land investment project in northern Riyadh.

The project involves developing a plot of municipal land under a 50-year partnership with the private sector, marking the municipality's first initiative under this joint investment model.

The private-sector partner will be responsible for designing, constructing, operating and maintaining all project facilities.

Located on Zaid bin Asim Street, the strategically positioned 30,015-square-meter site benefits from flexible urban planning regulations that allow for mixed-use development, including residential, commercial, office and recreational facilities.

The project aims to deliver high-quality developments that meet growing demand, serve local residents and community needs, and strengthen Riyadh's urban infrastructure.

Long-Term Investment Strategies

Offering investment opportunities through contracts extending up to 50 years represents a shift in how Saudi Arabia develops government-owned real estate assets.

The model gives private-sector investors a longer timeframe to develop projects and implement long-term investment strategies, overcoming some of the limitations associated with short- and medium-term contracts.

It also strengthens investors' ability to undertake financial and operational planning, allowing them to recover development costs and generate investment returns over a longer period.

This could make such opportunities more attractive to real estate companies and institutional investors.

The project forms part of Riyadh Region Municipality's strategy to improve the efficiency of municipal asset management, expand private-sector participation in urban development and attract high-value investments.

These efforts are intended to promote sustainable urban development, keep pace with the capital's rapid growth and advance Saudi Vision 2030 objectives, in line with the municipality's ambition to help create a prosperous, sustainable Riyadh with a higher quality of life.

Project Sustainability

Real estate expert Khaled al-Mobid said the launch of a 50-year investment project in Riyadh's Al-Narjis district represents an important step toward enabling the private sector to develop real estate assets and transform them into sustainable projects with substantial economic value.

Speaking to Asharq Al-Awsat, he explained that the extended investment period encourages developers to improve construction quality and services while enhancing the financial viability of projects.

He added that the model could help diversify real estate offerings and increase supply in one of the capital's most expensive neighborhoods.

Al-Mobid said the project's significance lies less in its immediate impact on property prices than in its potential to establish a replicable investment model.

Such a model, he noted, could gradually increase supply, strengthen competition and contribute to greater price stability across Riyadh's real estate market.

Diversifying Real Estate Supply

Real estate developer Ahmed Omar Basoudan said the importance of these contracts extends beyond simply making land available to investors.

They also create opportunities to develop integrated real estate assets combining residential, commercial, office and recreational uses, increasing the economic value of land and improving its utilization.

Speaking to Asharq Al-Awsat, Basoudan explained that bringing design, construction, operation and maintenance together under a single investment framework allows for more integrated developments.

It also creates a stronger link between construction quality, operational efficiency and long-term sustainability.

At the broader market level, he said, the model could help diversify real estate offerings, particularly in major cities experiencing rapid urban expansion and rising demand for residential, commercial and office space.

The participation of new developers and operators could also strengthen competition and improve the quality of projects and services.

Moreover, the approach could create integrated mixed-use urban destinations that meet residents' needs and support economic activity, rather than relying solely on conventional real estate development.

 

Replicating the Model

 

According to Basoudan, the success of this investment model will depend on how effectively contracts are structured, how risks are allocated between government entities and investors, and how clearly development, operation and maintenance obligations are defined.

Equally important, he said, is striking an appropriate balance between investment returns and the public interest.

Basoudan believes extending the model to other municipalities and regions could create an additional channel for attracting domestic and international investment.

It could also strengthen private-sector participation in urban development, in line with Saudi Vision 2030 objectives to diversify the economy and improve the efficiency of government asset management.

Business

Gold Rallies as Dollar, Treasury Yields Soften after US Midterm Results

Gold chips displayed at a state-owned gold retail store in Surabaya, East Java (AFP)
Gold chips displayed at a state-owned gold retail store in Surabaya, East Java (AFP)
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Gold Rallies as Dollar, Treasury Yields Soften after US Midterm Results

Gold chips displayed at a state-owned gold retail store in Surabaya, East Java (AFP)
Gold chips displayed at a state-owned gold retail store in Surabaya, East Java (AFP)

Gold climbed to its highest level in over two weeks on Thursday as the fallout from the US midterm election results rippled through the global financial and oil markets.

Spot gold rose 1.6% to $4,124.89 per ounce by 0752 GMT. It touched $4,146.63 per ounce, its highest level since October 20, earlier in ‌the session.

Bullion ‌climbed about 3.4% on Wednesday, its biggest ‌daily gain ⁠since August 19.

US ⁠gold futures for December delivery climbed 1.5% to $4,135.40, Reuters said.

A weaker dollar and lower Treasury yields have helped gold recover above the key $4,000 level, though holding above that threshold remains crucial for the recovery outlook, said Linh Tran, market analyst at XS.com.

"If investment flows and yield movements continue to provide support, gold could stabilize ⁠above $4,000, also opening up an opportunity for a ‌recovery toward $4,200, followed by $4,400."

Oil prices ‌were slightly higher after earlier falling for a fourth day on ‌expectations that the losses US President Donald Trump's Republican Party ‌suffered in congressional elections this week may reduce the risk of further escalation of the US-Israeli war with Iran.

Lower energy prices ease inflationary pressures, reducing expectations that the central bank will keep interest rates higher ‌for longer, supporting the appeal of non-yielding bullion.

The dollar slid to its lowest in more ⁠than a ⁠month, and 10-year US Treasury yield fell to its lowest since September 10.

A weaker dollar makes greenback-priced bullion more affordable for holders of other currencies.

Market participants now await the US non-farm payrolls report on Friday to further gauge the Federal Reserve's monetary policy outlook.

Meanwhile, Citi has a 0-3 month price target of $4,500 per ounce for gold, the brokerage said on Wednesday, as it sees substantial upside potential if the Strait of Hormuz reopens and the Yemen/Saudi conflict de-escalates.

Among other metals, spot silver rose 0.8% to $52.63 per ounce, platinum gained 1.2% to $1,514.20 and palladium climbed 2.2% to $1,026.83.