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Gulf

Saudi Arabia, Egypt Sign $10 Billion Deal on Mega-City

Egyptian President Abdel-Fattah el-Sisi, left, greets Saudi Crown Prince Mohammed bin Salman upon his arrival to Cairo, Egypt. AP
Egyptian President Abdel-Fattah el-Sisi, left, greets Saudi Crown Prince Mohammed bin Salman upon his arrival to Cairo, Egypt. AP
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Saudi Arabia, Egypt Sign $10 Billion Deal on Mega-City

Egyptian President Abdel-Fattah el-Sisi, left, greets Saudi Crown Prince Mohammed bin Salman upon his arrival to Cairo, Egypt. AP
Egyptian President Abdel-Fattah el-Sisi, left, greets Saudi Crown Prince Mohammed bin Salman upon his arrival to Cairo, Egypt. AP

Saudi Arabia has signed with Egypt an investment agreement to develop Egyptian lands in south Sinai to become part of a planned mega-city and business zone unveiled by Saudi Arabia last October.

The two countries have set up a $10 billion joint investment fund (Egyptians' share of this fund include the long-term leases) to invest in lands located on the Egyptian side as part of the mega-city project. The announcement was made during a visit paid by Crown Prince Mohammed bin Salman, Deputy Crown Prince and Minister of Defense, to Cairo where he met President Abdul Fattah al-Sisi.

Reuters reported a Saudi official as saying that Egypt has committed more than 1,000 square kilometers of land in the southern Sinai Peninsula to NEOM project.

Prince Mohammed previously announced plans for the 26,500 square km zone, known as NEOM, at an international investment conference in Riyadh. Officials said public and private investment in the area was eventually expected to total $500 billion.

The mega-city, with its own judicial system and legislation designed to attract international investors, is to focus on industries such as energy and water, biotechnology, food, advanced manufacturing and tourism, according to officials.

It is part of bold moves by the 32-year-old heir apparent to wean the world’s top crude exporter off oil revenues.

Riyadh and Cairo also signed an environmental protocol on Sunday aimed at preserving the Red Sea’s coral reefs and preventing “visual pollution”, the official said.

Riyadh’s part of the new joint investment fund will be cash to help develop the Egyptian side of NEOM, which was conceived as spanning across Saudi Arabia, Egypt and Jordan.

Saudi Arabia plans to set up seven maritime tourist attraction areas in the Red Sea, as part of NEOM, including cities and tourism projects.

Moreover, Saudi Arabia will establish more than 15 seafront and hundreds of resorts. And on the Jordanian side, Amman will focus on developing Aqaba.

In Egypt, the project will focus on the regions of Sharm el-Sheikh and Hurghada, which will become the sites of new attractions.

In cooperation with Jordan and Egypt, Saudi Arabia will work on attracting European cruise and tourism companies operating in the Mediterranean, during the summer season, in order to work later on the Red Sea project.

The Red Sea Project, made up of some 50 islands, will offer a nature reserve, coral reefs and heritage sites. Authorities have said it would break ground in 2019 and complete its first phase by late 2022.

Notably, the Kingdom is currently negotiating with more than seven tourism and cruise companies and planning to build yacht marinas.

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Gulf

Multinational Maritime Defense Coalition Begins Operations from Saudi Headquarters

Coalition commander Rear Admiral Abdullah Al-Shehri receives his deputy, Commodore Rashid Sheikh, at the command headquarters. (Saudi Defense Ministry)
Coalition commander Rear Admiral Abdullah Al-Shehri receives his deputy, Commodore Rashid Sheikh, at the command headquarters. (Saudi Defense Ministry)
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Multinational Maritime Defense Coalition Begins Operations from Saudi Headquarters

Coalition commander Rear Admiral Abdullah Al-Shehri receives his deputy, Commodore Rashid Sheikh, at the command headquarters. (Saudi Defense Ministry)
Coalition commander Rear Admiral Abdullah Al-Shehri receives his deputy, Commodore Rashid Sheikh, at the command headquarters. (Saudi Defense Ministry)

The Multinational Maritime Defense Coalition has begun operations from its headquarters in Saudi Arabia, with Pakistan’s Commodore Rashid Sheikh taking up his post as deputy commander.

Liaison officers from member states and countries completing accession procedures have also started work at the headquarters. Others will follow in stages, based on the number of posts allocated to each country.

The move follows the completion of arrangements to activate the coalition’s bodies, approved at its third planning meeting in Jeddah in August and attended by representatives from 39 countries.

It marks the start of the coalition’s institutional and operational phase and the integration of member states’ military capabilities, while other countries finalize accession procedures.

Work on the coalition’s institutional structure has also advanced rapidly. Saudi Arabia has appointed its commander, while members agreed that the first deputy commander would come from Pakistan.

Saudi Arabia announced the coalition in late July as an international defensive initiative open to all countries.

It aims to strengthen maritime security, protect international waterways and global trade, and counter emerging threats. Rear Admiral Abdullah Al-Shehri was appointed coalition commander.

The coalition is a strategic step toward protecting shared maritime interests in the Bab al-Mandeb Strait, Red Sea and Gulf of Aden.

It is founded on the principle that securing international waterways is a collective responsibility requiring coordinated action against growing threats.

Membership remains open to interested countries.

Saudi Arabia’s hosting and leadership of the coalition reflects the Kingdom’s role in strengthening regional and international security and building effective alliances to deter and confront shared maritime threats.

The coalition seeks to safeguard freedom of navigation, secure trade routes, supply chains and energy resources, and protect shared maritime interests across the Bab al-Mandeb Strait, Red Sea and Gulf of Aden.

The coalition operates under the principles of the United Nations Charter and international law. It is exclusively defensive, does not target any country or organization, fully respects state sovereignty and safeguards freedom of navigation.

Gulf

Gulf, Arab Condemnation of Iranian Attack on Saudi Tanker

Vessels near the Strait of Hormuz, as seen from Musandam, Oman, September 2, 2026. (Reuters)
Vessels near the Strait of Hormuz, as seen from Musandam, Oman, September 2, 2026. (Reuters)
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Gulf, Arab Condemnation of Iranian Attack on Saudi Tanker

Vessels near the Strait of Hormuz, as seen from Musandam, Oman, September 2, 2026. (Reuters)
Vessels near the Strait of Hormuz, as seen from Musandam, Oman, September 2, 2026. (Reuters)

Qatar strongly condemned on Wednesday Iran's attack on the Saudi tanker SIDR in the Strait of Hormuz, which resulted in the deaths among the crew.

It slammed the strike as a blatant violation of international maritime law and UN Security Council Resolution 2817.

In a statement, the Qatari Ministry of Foreign Affairs “categorically rejected the weaponization of the Strait of Hormuz and demanded its unconditional reopening.”

The ministry emphasized that “freedom of navigation in the vital waterway is a non-negotiable principle”.

It warned that its continued closure jeopardizes regional security and the global economy.

Demanding an immediate halt to Iran's unjustified aggression, the ministry stressed Doha's “full solidarity with Saudi Arabia and expressed unequivocal support for all measures taken by Riyadh to protect its national assets.”

Jordan also condemned the attack, saying it was a flagrant violation of international law and a direct threat to the security and safety of global maritime navigation.

In a statement, the Jordanian Ministry of Foreign Affairs and Expatriates underlined the country's “absolute solidarity with Saudi Arabia, expressing full support for all measures taken by Riyadh to protect its security, stability, and national resources.”

Gulf Cooperation Council (GCC) Secretary-General Jasem Albudaiwi strongly condemned the attack, slamming it as a “dangerous escalation, a grave violation of international law, and a direct threat to the security and safety of international maritime navigation.”

He warned that the attack exposes regional security and stability and the flow of global trade to “grave risks”.

Albudaiwi underscored that the GCC member states stand firmly with Saudi Arabia in every measure to safeguard its security and protect its interests.

Gulf

Riyadh Condemns Iran Attack on Saudi Vessel in Hormuz

A view of Riyadh, Saudi Arabia. (SPA file)
A view of Riyadh, Saudi Arabia. (SPA file)
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Riyadh Condemns Iran Attack on Saudi Vessel in Hormuz

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

Saudi Arabia condemned on Wednesday Iran for attacking a Saudi vessel, SIDR, as it sailed the Hormuz Strait and the resulting loss of life among the crew.

A Foreign Ministry statement said the Kingdom also condemns the Iranian attacks against Jordan, Bahrain and Kuwait.

Saudi Arabia “stands by the fraternal states and the measures they take to protect their security and sovereignty against any threat,” it added.

The Kingdom “underscored the need to stop the escalation and respect international marine lanes and their safety, as well as the global energy supplies.”

It urged “good neighborliness and respect for the sovereignty of nations, the UN Charter and international laws and norms.”

The Kingdom “called on all parties to restore calm, end the escalation, respect international law, return to the negotiations and turn to peaceful solutions.”