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World Defense Show Sees Surge in Agreements, Strategic Partnerships

Minister of Industry and Mineral Resources Bandar Alkhorayef witnesses the signing of a memorandum of cooperation between the National Industrial Development Center and Airbus (Asharq Al-Awsat). 
Minister of Industry and Mineral Resources Bandar Alkhorayef witnesses the signing of a memorandum of cooperation between the National Industrial Development Center and Airbus (Asharq Al-Awsat). 
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World Defense Show Sees Surge in Agreements, Strategic Partnerships

Minister of Industry and Mineral Resources Bandar Alkhorayef witnesses the signing of a memorandum of cooperation between the National Industrial Development Center and Airbus (Asharq Al-Awsat). 
Minister of Industry and Mineral Resources Bandar Alkhorayef witnesses the signing of a memorandum of cooperation between the National Industrial Development Center and Airbus (Asharq Al-Awsat). 

The second day of the third edition of the World Defense Show 2026 in Riyadh witnessed intensified momentum in the signing of defense agreements and strategic partnerships with international entities.

It reflects Saudi Arabia’s drive to localize technology, build national capabilities in the military and defense sectors, and deepen local supply chains in line with Vision 2030.

On the sidelines of the exhibition, the Saudi Ministry of Defense signed 28 contracts with local and international companies specializing in military industries.

Four contracts were signed by Dr. Khaled Al-Biyari, Assistant Minister of Defense for Executive Affairs, with chief executives of France’s MBDA, Raytheon Saudi Arabia, South Korea’s Hanwha Aerospace, and Italy’s Leonardo.

Al-Biyari also attended the signing of eight additional contracts concluded by Ibrahim Al-Suwayed, Undersecretary of Defense for Procurement and Armament, with local and global companies from France, Türkiye, South Korea, and Italy.

A further 16 contracts were signed by executive directors at the Ministry’s Procurement and Armament Agency with representatives of defense firms.

The agreements aim to enhance the readiness and combat efficiency of the armed forces, ensure the sustainability of military systems, and support the localization of defense manufacturing. These efforts align with Vision 2030 targets to localize more than 50 percent of spending on military equipment and services.

In a parallel development, Al-Biyari and German State Secretary at the Federal Ministry of Defense Jens Plötner signed draft arrangements for defense cooperation between the two countries.

The exhibition also highlighted efforts to localize the aviation industry. The Minister of Industry and Mineral Resources oversaw the signing of a memorandum of cooperation between the National Industrial Development Center and European aerospace company Airbus.

The memorandum includes plans to establish engineering centers for manufacturing, assembly, and maintenance, transfer technology and expertise, and develop a logistics ecosystem to support the aviation industry.

It also covers attracting global suppliers to invest locally, exploring procurement and export options, and identifying incentives and financing mechanisms to support joint projects. Training programs and educational partnerships are also planned to qualify Saudi talent to lead the aviation sector and related industries.

Innovation and integration were the central themes of the exhibition’s second day. Eng. Ahmad Al-Ohali, Governor of the General Authority for Military Industries, reaffirmed Saudi Arabia’s commitment to developing integrated and globally competitive defense industries.

He noted that the exhibition reflects national goals to advance localization, strengthen supply chains, and enhance operational readiness across defense and security sectors.

Chief of the General Staff General Fayyadh Al-Ruwaili outlined strategic directions for developing the national defense system in light of evolving global operational conditions. Senior local and international officials participated in discussions on building a resilient defense framework capable of addressing future challenges.

The program also featured “Thought Leadership” sessions focusing on the evolution of defense industries, investment opportunities in aviation and space, and supply chain development.

Activities continued at the Defense Industry Lab and the Saudi Supply Chain Zone, designed to strengthen collaboration among manufacturers and accelerate technology transfer.

Exhibition Chief Executive Officer Andrew Pearcey said the strong international participation reflects Saudi Arabia’s growing role in shaping the future of defense technologies. The World Defense Show brings together 1,468 exhibitors from 89 countries, with live demonstrations and strategic programs covering air, land, sea, space, and security domains.

Further strengthening industrial capabilities, GE Aerospace signed an industrial participation agreement with the General Authority for Military Industries to enhance repair and maintenance capabilities for F110 engines.

A separate memorandum of understanding was also signed to explore building a globally competitive aviation industrial base and accelerating the Kingdom’s manufacturing roadmap. The authority said the agreement would support knowledge transfer, international certification, and the localization of engine component manufacturing.

Major global defense and aerospace companies also reaffirmed their commitment to supporting Saudi Arabia’s localization agenda. Boeing highlighted its support for enhancing readiness and domestic capabilities, while RTX, through Raytheon Saudi Arabia, showcased advanced defense systems and emphasized workforce development and integrated solutions aligned with the exhibition’s theme, “The Future of Defense Integration.”

The World Defense Show continues to consolidate its role as a global platform connecting manufacturers, investors, entrepreneurs, and decision-makers.

Supported by regulatory development, incentive programs, and human capital initiatives, Saudi Arabia has made tangible progress in localization. By 2024, localized military spending had reached nearly 25 percent, local content stood at 40.7 percent, and Saudization reached 63 percent, reinforcing the Kingdom’s ambition to become a regional hub for defense and aviation industries by 2030.

 

 

 

 

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Riyadh Ranks Among Top Four Global Initiatives at World Smart City Awards

Visitors at the Royal Commission for Riyadh City's pavilion during the Smart City Expo World Congress in Barcelona (RCRC)
Visitors at the Royal Commission for Riyadh City's pavilion during the Smart City Expo World Congress in Barcelona (RCRC)
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Riyadh Ranks Among Top Four Global Initiatives at World Smart City Awards

Visitors at the Royal Commission for Riyadh City's pavilion during the Smart City Expo World Congress in Barcelona (RCRC)
Visitors at the Royal Commission for Riyadh City's pavilion during the Smart City Expo World Congress in Barcelona (RCRC)

Three Riyadh projects received international recognition at the 2026 World Smart City Awards, held during the Smart City Expo World Congress in Barcelona, Spain, with one winning its category and two reaching the finals.

The Riyadh Infrastructure Projects Center (RIPC) was named among four finalists for the Governance & Economy Award for its "Infrastructure in One Source" initiative, which uses an Integrated Infrastructure Coordination Plan to improve infrastructure planning and coordination.

Riyadh Metro was also among four finalists for the Mobility Award, while the Real Estate Balance Program (Tawazoun) won the Infrastructure & Building Award.

The awards attracted 533 entries from 68 countries worldwide.

The Integrated Infrastructure Coordination Plan aims to improve infrastructure project quality across Riyadh Region by establishing a comprehensive framework for planning and coordination among government agencies, private-sector organizations and service providers.

The initiative seeks to improve project execution, minimize conflicts between construction activities and strengthen coordination during the planning and implementation stages.

Riyadh's recognition also extended to public transportation, with Riyadh Metro reaching the finals of the Mobility Award for its development of an integrated public transportation network that contributes to more efficient and sustainable mobility in the Saudi capital.

Smart cities and residents' quality of life

Dr. Maher Shirah, Director General of the Smart Cities General Department at the Royal Commission for Riyadh City (RCRC), told Asharq Al-Awsat that the value of smart cities lies in their impact on residents' lives.

He said housing, access to opportunities, efficient public services and confidence in urban development management were essential elements of a city offering a higher quality of life.

Shirah said Riyadh's experience with real estate balance demonstrated the importance of addressing these priorities together, as the Tawazoun program seeks to correct imbalances in the property market and facilitate homeownership amid the capital's rapid growth.

He confirmed that Tawazoun had won the Infrastructure & Building Award at the 2026 World Smart City Awards, an achievement separate from RIPC's selection as one of four finalists for the Governance & Economy Award.

Shirah said the relationship between real estate balance and smart cities rested on three main dimensions.

The first is understanding the city through data. Monitoring the real estate market, analyzing differences between neighborhoods and comparing current housing supply with future demand provide a clearer picture of urban challenges and help authorities develop more effective interventions.

Using data to manage urban development

The second dimension involves translating knowledge into practical action, Shirah said.

He explained that data delivers value when it informs decisions on land development, infrastructure provision, housing initiatives and market monitoring, strengthening institutions' ability to respond to complex urban challenges.

The third dimension focuses on outcomes that matter to residents.

Shirah said access to housing was a fundamental part of how people experience their city and assess its performance, noting that the IMD Smart City Index measures residents' perceptions of their ability to find housing at affordable rents.

He added that international frameworks take a comprehensive approach to smart cities.

The Cities in Motion Index, developed by IESE Business School, covers urban planning, governance, technology, the economy and social cohesion, while the International Telecommunication Union's United for Smart Sustainable Cities (U4SSC) framework links digital transformation to quality of life, inclusion, infrastructure and sustainability.

Shirah said the Tawazoun program's long-term impact would be measured by improvements in housing accessibility, service efficiency, the quality of decision-making and residents' experiences.

Building a smart city requires institutions capable of translating information into coordinated action and turning that action into tangible improvements in residents' lives, he said.

Riyadh's presence at the World Smart City Awards

The recognition came during the Smart City Expo World Congress, held in Barcelona from Nov. 3 to 5, with the World Smart City Awards ceremony taking place on Nov. 4.

The awards recognize cities, public agencies and organizations developing innovative solutions and initiatives to make urban areas smarter, more sustainable and better places to live.

They highlight pioneering approaches to using technology and innovation to address urban challenges and improve the efficiency of public services and infrastructure, while allowing cities and participating organizations from around the world to exchange expertise and experiences.

The Riyadh Infrastructure Projects Center achieved similar recognition in 2025 when its "Road Resurfacing Governance" initiative was selected among four finalists for the Governance & Economy Award.

The initiative sought to establish a unified framework for governing work procedures, improving coordination, planning and implementation, raising safety standards and reducing conflicts and disruptions associated with infrastructure projects.

Riyadh's participation in the awards reflects the diversity of its smart city initiatives, spanning infrastructure project management, urban planning, public transportation and real estate market balance.

These initiatives highlight efforts to improve public services, increase urban efficiency and enhance residents' quality of life.

According to the Royal Commission for Riyadh City, this international recognition builds on efforts by authorities across Riyadh Region to develop and manage infrastructure projects and adopt smart, sustainable solutions in support of Saudi Vision 2030, while improving quality of life and the efficiency of urban projects and services.

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.