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Saudi Arabia Moves to Integrate Stablecoins, Expand Real Estate Funds

Saudi Minister of Municipal, Rural Affairs and Housing Majid Al-Hogail delivers a speech at the World PropTech Summit 2025 in Riyadh (General Real Estate Authority)
Saudi Minister of Municipal, Rural Affairs and Housing Majid Al-Hogail delivers a speech at the World PropTech Summit 2025 in Riyadh (General Real Estate Authority)
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Saudi Arabia Moves to Integrate Stablecoins, Expand Real Estate Funds

Saudi Minister of Municipal, Rural Affairs and Housing Majid Al-Hogail delivers a speech at the World PropTech Summit 2025 in Riyadh (General Real Estate Authority)
Saudi Minister of Municipal, Rural Affairs and Housing Majid Al-Hogail delivers a speech at the World PropTech Summit 2025 in Riyadh (General Real Estate Authority)

Saudi Arabia is taking steps to strengthen its global position in investment and finance by integrating stablecoins into its financial system and expanding the real estate funds sector, a move designed to increase capital inflows and facilitate both domestic and foreign investment.

“We look forward to introducing stablecoins in the Kingdom soon, in partnership with the Capital Market Authority and the Central Bank,” said Saudi Minister of Municipal, Rural Affairs and Housing Majid Al-Hogail during his speech at the World PropTech Summit 2025 in Riyadh on Sunday.

Al-Hogail stressed that stablecoins have become a new foundation for the movement of value worldwide. Their total market capitalization has exceeded SAR 1.125 trillion (USD 300 billion), representing nearly three-quarters of all blockchain-based transactions globally.

He explained that the world is witnessing a redefinition of financial infrastructure. Over the past year, transactions involving cryptocurrencies and stablecoins reached SAR 33.75 trillion, including SAR 4.5 trillion in September 2025 alone, according to data from the Bank for International Settlements.

This transaction volume, he noted, is about five times greater than that of PayPal and approaches the global settlement capacity of Visa.

Al-Hogail pointed out that major financial hubs such as Dubai, Singapore, New York, London, and Zurich have already established regulatory frameworks for stablecoins, thanks to their high transparency, low friction, and automated transaction verification.

He further highlighted the importance of building secure and efficient financial settlement systems, saying: “We look forward to seeing stablecoins in the Kingdom soon, in partnership with the Capital Market Authority and the Central Bank. We also aim to expand participation in the regulatory sandbox to keep the Saudi real estate market among the most innovative and competitive in the world.”

Meanwhile, Chairman of the Capital Market Authority Mohammed Al-Kuwaiz said that the size of real estate funds in the Kingdom is approaching SAR 300 billion. This makes them the largest investment class within the asset management sector, which has surpassed SAR 1.2 trillion. He added that these funds cover commercial, residential, office, and land assets.

Al-Kuwaiz also highlighted the growing role of the debt market as a modern financing tool in the real estate sector. Debt issuances have exceeded SAR 35 billion (USD 9.3 billion) domestically and internationally, surpassing equity financing.

As for venture capital, the volume of managed assets reached approximately SAR 5 billion (USD 1.3 billion), while investment in proptech remains limited at SAR 35 million (USD 9.3 million).

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Business

Riyadh to Add 94 New Trains to Boost Transport Capacity

A Riyadh Metro train travels through the Saudi capital. (SPA)
A Riyadh Metro train travels through the Saudi capital. (SPA)
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Riyadh to Add 94 New Trains to Boost Transport Capacity

A Riyadh Metro train travels through the Saudi capital. (SPA)
A Riyadh Metro train travels through the Saudi capital. (SPA)

The Royal Commission for Riyadh City has signed contracts to procure and manufacture 94 new trains for the capital’s metro network, increasing its fleet to 277 from 183, with deliveries scheduled to begin in batches in 2028.

The new trains are expected to boost the network’s overall passenger capacity by 57%, with increases varying by line: 142% on the red line, 116% on the yellow line, 57% on the blue line, 27% on the orange line and 16% on the purple line. Additional capacity will be allocated according to ridership and projected demand.

The expansion comes as the Riyadh Metro has recorded about 275 million passenger trips since December 2024. Average monthly ridership in 2026 has risen by around 25% compared with the same period in 2025.

The investment is intended to accommodate anticipated growth in travel demand as Riyadh expands and prepares to host major international events, including Expo 2030 and the 2034 FIFA World Cup.

Germany’s Siemens and France’s Alstom are carrying out the contracts, which are worth more than $5 billion in total and cover train manufacturing, systems and equipment, maintenance, training and other technical and operational services.

The trains will be delivered in stages as manufacturing is completed, then undergo testing and operational trials before gradually entering service.

The investment is part of broader efforts to develop Riyadh’s transport infrastructure, including public transit, roads and intersections, to meet the needs of the capital’s growing population and urban expansion.

Business

Copper Steadies as Dollar Strength Counters Chile Supply Worries

Stacks of copper cathodes sit inside Glencore's Canadian Copper Refinery in Montreal, Quebec, Canada on October 3, 2026. (Photo by ANDREJ IVANOV / AFP)
Stacks of copper cathodes sit inside Glencore's Canadian Copper Refinery in Montreal, Quebec, Canada on October 3, 2026. (Photo by ANDREJ IVANOV / AFP)
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Copper Steadies as Dollar Strength Counters Chile Supply Worries

Stacks of copper cathodes sit inside Glencore's Canadian Copper Refinery in Montreal, Quebec, Canada on October 3, 2026. (Photo by ANDREJ IVANOV / AFP)
Stacks of copper cathodes sit inside Glencore's Canadian Copper Refinery in Montreal, Quebec, Canada on October 3, 2026. (Photo by ANDREJ IVANOV / AFP)

Copper prices ‌held nearly steady on Tuesday as a strong US dollar countered support from supply concerns in top producer Chile.

Benchmark three-month copper on the London Metal Exchange was little changed at $14,628.00 a metric ton by 0700 GMT, after hitting a two-week high in the previous session, said Reuters.

The most-traded copper contract on the Shanghai Futures Exchange edged 0.2% higher to 110,990 yuan a ton.

The dollar took ‌a breather ‌but hovered near an 18-month high, ‌underpinned ⁠by safe-haven demand ⁠amid escalating tensions in the Middle East. A stronger greenback makes dollar-denominated metals more expensive for holders of other currencies.

Supply concerns remained in focus after Chilean state miner Codelco partially suspended operations at its El Teniente mine following a landslide, ⁠while Antofagasta's Centinela copper mine and two ‌unions were set ‌to resume talks as a strike continued.

Copper inventories outside ‌the United States have declined in recent ‌months as shipments were diverted to the country ahead of potential tariffs on refined copper imports.

Analysts at BMI raised their average copper price forecast for 2026 ‌to $13,500 per ton from $12,700, citing tariff-related market distortions and persistent supply constraints.

"For the ⁠remainder ⁠of the year, prices are set to oscillate sharply in response to tariff-policy headlines, with the eventual US decision likely to dictate near-term price direction," BMI said.

Among LME metals, aluminium was down 0.4% at $3,039 after touching an eight-month low on Monday, zinc lost 0.7% to $3,729.50, lead rose 0.4% to $1,891, nickel gained 0.2% to $15,640 and tin eased 0.6% to $52,870.

Among SHFE metals, aluminium slipped 1.1%, zinc fell 1.7%, lead rose 1.3%, nickel dipped 0.1% and tin dropped 0.4%.

Business

IMF Forecasts Saudi Economy to Grow 7.9% in 2027

General view of the Kingdom Tower in downtown Riyadh, Saudi Arabia, October 12, 2026. Picture taken with a mobile phone. REUTERS
General view of the Kingdom Tower in downtown Riyadh, Saudi Arabia, October 12, 2026. Picture taken with a mobile phone. REUTERS
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IMF Forecasts Saudi Economy to Grow 7.9% in 2027

General view of the Kingdom Tower in downtown Riyadh, Saudi Arabia, October 12, 2026. Picture taken with a mobile phone. REUTERS
General view of the Kingdom Tower in downtown Riyadh, Saudi Arabia, October 12, 2026. Picture taken with a mobile phone. REUTERS

The International Monetary Fund (IMF) expects the Saudi economy to record strong growth of 7.9 percent in 2027, reflecting a projected recovery in energy production and exports, as well as the gradual restoration of regional trade flows as war-related disruptions ease and the Strait of Hormuz reopens under the report’s baseline scenario.

The forecast highlights the Saudi economy’s ability to regain momentum after the pressures caused this year by disruptions to energy production and transportation. Saudi Arabia is expected to benefit from its diversified oil export routes and infrastructure, which allow part of its exports to be shipped via the Red Sea rather than through the Strait of Hormuz.

In its October World Economic Outlook, the IMF projected that Saudi Arabia’s economy would contract by 3.3 percent in 2026 before rebounding to 7.9 percent growth in 2027.

In its April forecasts, the Fund had expected growth of 3.1 percent in 2026 and 4.5 percent in 2027, reflecting a significant shift in projections due to developments in the conflict and assumptions regarding the resumption of economic activity.

Export Infrastructure Supports Economic Resilience

Saudi Arabia benefits from alternative oil-export outlets, most notably the East-West Pipeline, which transports crude oil from the Eastern Province to the Red Sea port of Yanbu with a capacity of approximately 7 million barrels per day.

The Kingdom aims to raise pipeline capacity to 10 million barrels per day, enhancing the flexibility of its export system in the face of maritime disruptions.

These alternatives strengthen Saudi Arabia’s ability to mitigate the impact of shipping interruptions on oil flows. Under the IMF’s forecasts, the gradual recovery of production and exports is expected to support economic activity next year.

Gulf Recovery Driven by Rebound in Energy Production

The strong growth forecast is not limited to Saudi Arabia. The IMF also expects several Gulf economies to recover sharply in 2027 as production, exports, and logistics services rebound.
Projected growth rates for 2027 are Qatar 18.8%, Kuwait 17.1%, Bahrain 13.9%, the United Arab Emirates 7.7% and Oman 2.2%.

These forecasts follow severe pressure during 2026, when the IMF expects Kuwait’s economy to contract by 16.7%, Qatar’s economy by 15.6%, Bahrain’s economy by 11.3% and the UAE economy to contract by 3.9%.

Meanwhile, Oman is expected to achieve growth of 4.1 percent in 2026.

The IMF’s baseline scenario assumes that the Strait of Hormuz will begin reopening in March 2027, with a broad return to pre-war conditions by October 2027. This would allow energy flows, shipping, insurance services, and payment systems to recover gradually.

The pace of this recovery remains dependent on the course of the conflict and the stability of maritime navigation. Nevertheless, Saudi Arabia’s diversified export routes provide an important buffer, enhancing the economy’s capacity to absorb shocks and restore growth as regional conditions improve.