‘Saudi Architecture Characters Map’ Boosts City Appeal for Investment

Image of buildings in the “Najdi Architecture” style (Eastern Province Development Authority)
Image of buildings in the “Najdi Architecture” style (Eastern Province Development Authority)
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‘Saudi Architecture Characters Map’ Boosts City Appeal for Investment

Image of buildings in the “Najdi Architecture” style (Eastern Province Development Authority)
Image of buildings in the “Najdi Architecture” style (Eastern Province Development Authority)

Economic and architectural experts have described Crown Prince Mohammed bin Salman’s launch of the “Saudi Architecture Characters Map” as a strategic shift, transforming architecture into an economic asset for investment.

In statements to Asharq Al-Awsat, they emphasized that the initiative will enhance Saudi Arabia's competitive edge in the tourism and cultural real estate development sectors.

Additionally, it is expected to boost the sustainability of the tourism economy and stimulate the manufacturing industries, from local stone production to carpentry, traditional carvings, and decorative arts.

The move could also lead to the creation of specialized companies focused on reviving traditional crafts, gradually transforming them into export industries.

Featuring 19 distinct architectural styles inspired by the Kingdom’s diverse geographical and cultural characteristics, the initiative is expected to contribute over 8 billion riyals ($2.13 billion) to the cumulative GDP and create more than 34,000 jobs in engineering, construction, and urban development sectors by 2030.

This move is part of a broader effort to transform and develop Saudi cities.

As Chairman of the Supreme Committee for Saudi Architectural Design Guidelines, the Crown Prince said that Saudi architecture reflects the cultural and geographical diversity of the Kingdom.

“Saudi architecture blends our rich heritage with contemporary design thinking. We are enhancing urban landscapes and quality of life as well as building an architectural framework that balances the past and the present. This model will serve as a global source of inspiration for innovation in architectural design,” he said.

Dr. Mohammed Al-Qahtani, an economics professor at King Faisal University, told Asharq Al-Awsat that the launch of the Map by the Crown Prince is more than just a cultural or architectural announcement.

It represents a move with deep economic implications that redefines the investment and real estate landscape in Saudi Arabia, in line with a developmental vision that transcends traditional urban growth.

He emphasized that “the architectural identity of any country is one of the pillars of soft power, and when this identity becomes a standard for developmental projects, we are witnessing a strategic shift. Architecture becomes an economic asset to be invested in, extending beyond just aesthetic value.”

Al-Qahtani added that the unification of architectural identity means both local and international investors will reassess their plans in light of new requirements that demand higher quality, thereby increasing real estate market value and attracting capital seeking authentic and sustainable projects.

 



SABIC Expects Capital Expenditure of $4 Bn in 2025

One of the Saudi Basic Industries Corporation (SABIC) plants... (SPA)
One of the Saudi Basic Industries Corporation (SABIC) plants... (SPA)
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SABIC Expects Capital Expenditure of $4 Bn in 2025

One of the Saudi Basic Industries Corporation (SABIC) plants... (SPA)
One of the Saudi Basic Industries Corporation (SABIC) plants... (SPA)

Saudi Basic Industries Corporation (SABIC), one of the world’s largest petrochemical companies, reported a net loss of 1.21 billion riyals ($322.6 million) for the first quarter of 2025, reflecting continued pressure on the global petrochemical sector.

Despite this, the company is maintaining disciplined capital investment management, with capital expenditure expected to range between $3.5 billion and $4 billion in 2025.

The loss was primarily attributed to a 1.05 billion riyal decline in gross profit, driven by rising feedstock prices, along with non-recurring costs of 1.07 billion riyals linked to a strategic restructuring initiative aimed at streamlining annual costs by approximately 345 million riyals and improving long-term operational efficiency.

SABIC CEO Abdulrahman Al-Fageeh, speaking at a press conference following the release of the company’s results, highlighted ongoing challenges in the global economy, including a slowdown in global GDP growth.

 

 

“The first quarter business environment was marked by uncertainty, with global economic growth at just 2.97%, along with a slowdown in the manufacturing PMI, which intensified challenges for the sector,” he said.

Despite the losses, Al-Fageeh noted SABIC's remarkable resilience, supported by what he described as “stable demand” for petrochemicals. He emphasized the company’s continued focus on operational excellence and its transformation efforts throughout the year.

SABIC projects its capital expenditure to range between $3.5 billion and $4 billion in 2025, reaffirming its commitment to creating long-term value through operational excellence, transformation, and systematic growth as part of its future vision.

Mohammed Al-Farraj, Head of Asset Management at Arbah Capital, commented to Asharq Al-Awsat that initial forecasts from various research firms prior to the results announcement were mixed. While some expected a significant year-on-year drop in net profit, others predicted revenue growth.

“Looking at the reported results, we see that revenue aligned with expectations, indicating slight year-on-year growth, while the reported net loss was smaller than some estimates, which had anticipated larger losses,” Al-Farraj said.

“However, the results still fall short of profits from the same period last year. It is important to consider the impact of one-time restructuring costs when making comparisons,” he explained.