Saudi Arabia to Lead Middle East Countries in Sustainable Space Sector Development

A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
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Saudi Arabia to Lead Middle East Countries in Sustainable Space Sector Development

A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)
A general view of Riyadh, Saudi Arabia. (Asharq Al-Awsat)

As the Saudi space strategy approaches its launch, expectations for investment in the space sector are growing, with an industry expert predicting that the anticipated budget may be comparable to major space economies.

Moreover, Riyadh is expected to lead the way in creating a competitive and regulatory environment with an innovative approach driven by the public sector, which will support the growth of the regional ecosystem.

Growth Predictions

Phil Malem, CEO of Serco Middle East, estimated the global space industry to be worth more than $400 billion, with expectations of it growing to over a trillion dollars by 2040.

Investments should support the entire value chain of the space ecosystem, from launch to satellite manufacturing within the country, operations, ground segment, and end data services, Malem emphasized.

Speaking to Asharq Al-Awsat, Malem stated that creating the full value chain for the space ecosystem will maximize all relevant industry sectors, such as space exploration, robotics, space science, Earth observation, Satcom, and space sustainability.

Saudi Leadership

According to Malem, Saudi Arabia’s ambitious plans for the country and the region will position it as a global player with a significant impact on space sustainability, leading the Middle East region in this field.

Malem expected that both public and private investments would back the formation of international partnerships in the region and create a local ecosystem. This includes the Saudi Space Accelerator Program, which was introduced by the Saudi Space Commission in 2023.

The program aims to aid startups and entrepreneurs in developing innovative space solutions within the Kingdom while simplifying knowledge transfer, technology, and training.

Malem stressed the importance of strengthening top training programs for operational services through various global space services for professionals in multiple locations, agencies, and public space institutions, such as engineers, operators, and analysts.

This is necessary to enhance the entire space value chain from satellite design and spacecraft operations to data processing and management, explained Malem.

Economic Diversification

Malem forecasted that Saudi Arabia would experience exponential growth in the space sector as part of its economic diversification plans in the region.

He anticipated that space would be a top priority under the direction of Crown Prince Mohammed bin Salman, who serves as the chairman of the Council of Economic and Development Affairs and leads the Supreme Space Council.

The potential for the space sector to impact all economic sectors through services enabled by space data is significant, highlighted Malem.

Since 2018, the Saudi space sector has made big strides in creating a competitive and accessible environment.

Malem noted efforts had been made to enhance the Kingdom’s strategy and achieve incredible accomplishments in human spaceflight missions, including plans to launch Saudi astronauts this year.

Serious Mobilization

Riyadh has taken significant steps toward the sector, affirmed Malem, adding that Saudi Arabia has filled positions with qualified professionals from the global space industry over the past year.

According to Malem, the Kingdom adopted a policy of attracting the best talent to help shape the space sector’s long-term growth, drive, and sustainability.

Saudi Arabia’s space sector will prioritize both economic expansion and the development of its national workforce, said Malem.

The sector aims to position the Kingdom as a leading country in the field of space, he added, noting that this effort presents significant opportunities for building a skilled and confident local workforce capable of implementing the space program and supporting the revitalization of national visions.

Serco’s Plan

Serco’s action plan includes collaborating with local academic, industrial, and public sector organizations to design, develop, and provide training, revealed Malem.

He added that the aim is to prepare Saudi citizens with the abilities, knowledge, and experience required to tackle long-term growth challenges in the regional space sector.



Saudi PIF Backs Multibillion-Dollar Projects to Boost Sustainability

A solar power project in Saudi Arabia (SPA)
A solar power project in Saudi Arabia (SPA)
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Saudi PIF Backs Multibillion-Dollar Projects to Boost Sustainability

A solar power project in Saudi Arabia (SPA)
A solar power project in Saudi Arabia (SPA)

Saudi Arabia’s Public Investment Fund has fully allocated the proceeds of its green bond issuance, directing $9 billion to eligible projects, in a move that highlights the sovereign wealth fund’s growing role in shaping a more sustainable future and delivering lasting positive impact worldwide.

According to a recent report issued by the Public Investment Fund, reviewed by Asharq Al-Awsat, the expected impact of the fund’s eligible green projects includes generating 427 megawatts of renewable energy, avoiding emissions equivalent to 5.1 million tons of carbon dioxide, and treating 4 million cubic meters of wastewater.

The Public Investment Fund aims to establish itself as an active participant in global debt markets, while also fostering the development of a dynamic domestic market. This would enable the fund to access short- or long-term liquidity through a diverse range of financing instruments.

Financing strategy

The fund’s capital markets program aims to further strengthen its financing strategy and execution capabilities, both at the level of the Saudi sovereign wealth fund and across its portfolio companies, while enabling deeper engagement with global and local debt markets.

The program will also support expanding the fund’s capacity to raise debt and deploy it as a source of investment financing, in line with its overall funding strategy. This approach is designed to instill greater discipline in cash flow management and enhance returns on equity for the fund and its portfolio companies.

The green bond issuance will provide the fund with access to a broader pool of investors who prioritize environmental, social, and governance considerations in their investment decisions. It will also allow investors to diversify their portfolios through green assets, a step expected to help accelerate the pace of green investment globally.

Climate change

The fund has taken concrete steps to advance governance and policy, focusing on sustainability, and is a founding member of the One Planet Sovereign Wealth Funds initiative. This international platform aims to accelerate the integration of climate change considerations into asset management decisions and investment opportunities.

As an investment vehicle, the Public Investment Fund operates through acquiring stakes in companies aligned with its mandate, including ACWA Power and Lucid.

It has also established the Saudi Investment Recycling Company, a leader in waste management and recycling, manages the National Energy Services Company, Tarshid, and supports the creation of a voluntary carbon market in the Middle East and North Africa.

These efforts aim to strengthen Saudi Arabia’s position as one of the world’s most energy-efficient countries.

The green bond issuance will finance tangible projects on the ground, helping to accelerate the green transition and advance the Kingdom’s core targets of achieving net zero emissions by 2060 and generating 50 percent of electricity consumption from renewable energy sources by 2030.

This forms a key pillar of the renewable energy program implemented by the fund, which involves developing 70 percent of renewable power generation capacity.


Saudi E-Commerce Hits Record Monthly Sales over SAR30.7 Billion in October

A view of Riyadh, Saudi Arabia. (SPA file)
A view of Riyadh, Saudi Arabia. (SPA file)
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Saudi E-Commerce Hits Record Monthly Sales over SAR30.7 Billion in October

A view of Riyadh, Saudi Arabia. (SPA file)
A view of Riyadh, Saudi Arabia. (SPA file)

E-commerce sales in Saudi Arabia via "mada" cards soared to an all-time monthly high in October 2025, surpassing SAR30.7 billion.

The surge in sales represents a 68% year-on-year increase, totaling about SAR12.4 billion more than the SAR18.3 billion recorded in October 2024, according to the Saudi Central Bank (SAMA) statistical bulletin on Wednesday.

E-commerce sales for the third quarter (Q3) of 2025 hit SAR88.3 billion, up 15.2% from the previous quarter, representing an increase of about SAR11.6 billion over the SAR76.6 billion recorded in Q2.

On a monthly basis, e-commerce sales in October rose 6%, gaining approximately SAR1.6 billion over September’s total of SAR29.1 billion.

From January to October, "mada" data showed e-commerce sales grew 47.3%, rising by around SAR9.9 billion over the SAR20.9 billion recorded in January.

These figures cover transactions made via "mada" cards on e-commerce websites, apps, and digital wallets, and do not include credit-card payments.


Jeddah's King Abdulaziz Airport Launches First Direct Flight to Moscow

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
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Jeddah's King Abdulaziz Airport Launches First Direct Flight to Moscow

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)

Jeddah's King Abdulaziz International Airport (KAIA) celebrated the launch of its first direct flynas flight to Moscow, operating three weekly flights between Jeddah and Vnukovo International Airport.

This initiative, in partnership with the Saudi Tourism Authority and the Air Connectivity Program, boosts air links between Saudi Arabia and Russia.

It marks KAIA's third direct Russian destination, following Makhachkala and Mineralnye Vody, which were inaugurated earlier this month by Azimuth Airlines.

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location.