Economic Stops in Crown Prince's Visit to US

Saudi Arabia's Crown Prince Mohammed bin Salman is welcomed upon his arrival in Washington. Bandar Algaloud /Courtesy of Saudi Royal Court / Reuters
Saudi Arabia's Crown Prince Mohammed bin Salman is welcomed upon his arrival in Washington. Bandar Algaloud /Courtesy of Saudi Royal Court / Reuters
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Economic Stops in Crown Prince's Visit to US

Saudi Arabia's Crown Prince Mohammed bin Salman is welcomed upon his arrival in Washington. Bandar Algaloud /Courtesy of Saudi Royal Court / Reuters
Saudi Arabia's Crown Prince Mohammed bin Salman is welcomed upon his arrival in Washington. Bandar Algaloud /Courtesy of Saudi Royal Court / Reuters

Saudi Crown Prince Mohammed bin Salman began his three-weeks long visit to the United States this week, planning to visit several states as part of a political and economic agenda on the current situation in the region and the economic future under Saudi Arabia's economic transformation plan.

This is the first visit of Prince Mohammed after he assumed his position nine months ago. He visited the United States about a year ago, followed by US President Donald Trump's visit to Saudi Arabia in May.

Through these visits, US and Saudi administrations' visions became evidently compatible on both political and economic aspects.

The first economic agreement between the two countries came last year, since the beginning of Trump's mandate, through the investments of the Saudi Public Investment Fund in US infrastructure, as well as agreements involving the transfer and resettlement of some military and oil industries from the United States to Saudi Arabia.

China also reached an agreement with the United States on investment in US infrastructure last November.

Saudi Crown Prince personally manages the economic portfolio as president of the Supreme Economic Council, making many of his previous tasks have been characterized as economic in addition to being political.

At the international level, it is not surprising that the head of state or his deputy manage the economic and investment portfolio.

The importance of the Saudi Crown Prince's handling the foreign investment portfolio lies in two main points: first, foreign investment in the Kingdom is still new, so, the support of the Crown Prince is necessary at this stage for marketing foreign investment. His presence encourages international companies to seriously invest in the Kingdom.

The Crown Prince had previously managed the forum of Future Investment Initiative in October in Riyadh as part of the campaign to promote foreign investment in Saudi Arabia.

The other point is answering investors' questions about foreign investment in the Kingdom. There is almost no meeting with the Saudi Crown Prince that doesn't include the discussion of the anti-corruption crackdown that began last November, and foreign newspapers always comment on this campaign when possible investments in the kingdom are mentioned.

With this, one of the reasons for the confidence in investing in the Kingdom is the Crown Prince's readiness to directly address investors' concerns on this subject.

This visit's schedule includes several destinations, starting in Washington and moving to New York, Houston, Boston, Los Angeles all the way to California.

The purpose of the visits depends on the city itself. While the Washington visit is political, Aramco public offering is also expected to be discussed during the Crown Prince's visit to New York. The US President previously stated that the US welcomes the launch of Aramco in the New York market.

It is clear that Saudi Arabia is not in a hurry to do so, saying earlier this month that the offering could be delayed until next year.

Houston, Texas, is part of the Saudi visit schedule and it may include agreements and partnerships between Saudi and US oil and petrochemical companies led by Aramco and SABIC from the Saudi side.

A Saudi exhibition will be held in Boston during the Prince's visit to the city under the supervision of several technical and educational Saudi bodies such as King Abdulaziz City for Science and Technology, King Abdullah Unversity of Science and Technology, Neom, and others.

At the exhibition, the Saudi authorities will also share their partnerships with major US universities such as MIT, Harvard and Berkeley. These partnerships aim to transfer science, technology and expertise from the US to Saudi Arabia. Many of these partnerships are devoted to the transfer of science to the Kingdom, in particular for the benefit of the industrial field.

The visit to Los Angeles is purely economic with several meetings expected to be held between Saudi delegation and major companies such as Walt Disney and Comcast as the kingdom invests in the entertainment sector.

The film industry alone is expected to bring nearly $1 billion in the next five years, a figure that can be reached if life expectancy is taken into consideration in the kingdom.

Public Investment Fund recently bought a share in Endeavor Talent Agency, a talent management company in Los Angeles, for about $400 million, according to international sources.

The visit to Silicon Valley is one of the most important visits of the Crown Prince, with reports suggesting a possible meeting between the Crown Prince and Google and Apple officials.

Trade agreements between the Kingdom and its companies and US companies are expected to amount to over $35 billion, but this figure is nothing compared to the future of investment partnerships between Saudi Arabia and the United States, especially as both countries seek investments that serve their common interests.

* Researcher specialized in financial management



Saudi Real Estate Market Maintains Investment Momentum Despite War Fallout

Residential developments in Saudi Arabia (Ministry of Municipalities and Housing)
Residential developments in Saudi Arabia (Ministry of Municipalities and Housing)
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Saudi Real Estate Market Maintains Investment Momentum Despite War Fallout

Residential developments in Saudi Arabia (Ministry of Municipalities and Housing)
Residential developments in Saudi Arabia (Ministry of Municipalities and Housing)

Saudi Arabia's real estate market continues to attract investment despite geopolitical challenges weighing on economic activity worldwide, supported by new housing developments and efforts to expand residential supply.

The Ministry of Municipalities and Housing announced that more than 15,000 residential land plots had been made available through the Sakani platform across the Kingdom between the beginning of 2026 and the end of October, alongside additional projects launched by private-sector developers.

The developments underscore the sector's continued momentum and its importance to the Saudi economy.

Government initiatives and private-sector projects aim to expand housing supply and meet growing demand, reinforcing real estate's position as a key driver of economic growth and diversification.

Strong domestic demand and ongoing urban development projects continue to underpin the market's appeal, attracting investment from both Saudi and international investors.

Against a backdrop of geopolitical uncertainty and war-related disruptions to trade, supply chains, financing costs and construction expenses, the real estate sector has gained importance as an industry driven largely by domestic demand and capable of sustaining economic activity.

Private-Sector Investment

Despite mounting global economic volatility and geopolitical tensions, Saudi Arabia's real estate market continues to attract international investment, supported by clear economic policies, expanding development opportunities and strong housing demand.

Real estate developer Arada recently announced its entry into the Saudi market through a partnership with local company XTOPIA, backed by a SAR 50 billion ($13.3 billion) portfolio of land and development opportunities.

The partnership's first project is a SAR 14 billion residential development in Riyadh's Al Rimal district.

Riyadh Region Municipality, the Ministry of Municipalities and Housing, and the National Center for Privatization & PPP also recently announced the launch of the expression of interest, prequalification and proposal submission stages for a joint land investment project.

The initiative involves developing a municipal land plot in northern Riyadh through a 50-year partnership with the private sector, marking the municipality's first project under the joint investment model.

Real estate specialists described the initiative as an important step toward enabling private investors to develop property assets into sustainable projects with significant economic value.

They said the extended investment period would encourage developers to improve construction quality and services, strengthen project feasibility, diversify real estate offerings and increase supply in one of the capital's most expensive neighborhoods.

Balancing the Real Estate Market

The importance of releasing more residential land lies in achieving greater balance in the property market, a government objective outlined by Crown Prince and Prime Minister Mohammed bin Salman.

The strategy seeks to increase housing supply by making more land available, broadening the options accessible to Saudi citizens and enabling more households to move from searching for a home to building and owning one.

Increasing the availability of residential land, particularly in cities and governorates experiencing rising demand, could ease pressure on land prices over the medium term, provided that plot locations and sizes correspond to actual market needs.

The release of additional land also creates opportunities for real estate developers, contractors, engineering firms and building materials suppliers to benefit from anticipated demand for construction projects.

As a result, businesses across the real estate and construction supply chain could see stronger activity despite the impact of the geopolitical crisis on other economic sectors in the region.

The initiative also expands housing choices, supports efforts to increase homeownership rates and improve quality of life, and encourages urban development beyond major metropolitan centers.

Lowering Prices

Real estate developer Ahmed Omar Basoudan believes the main challenge facing Saudi Arabia's property market in the coming period will not simply be increasing the number of land plots and housing units available.

Rather, he said, the priority must be ensuring that homes reach buyers at prices they can afford, while providing adequate infrastructure and services and keeping development and construction costs under control.

Speaking to Asharq Al-Awsat, Basoudan explained that genuine balance in the real estate market depends on the availability of housing that meets buyers' needs in terms of price, location and quality, rather than simply increasing overall supply.

He said the release of more than 15,000 residential land plots during the first 10 months of the year, together with recently announced private-sector projects, reflected the government's continued commitment to expanding housing supply and providing more residential options.

Basoudan stressed that the latest real estate developments represent an important step toward addressing one of the market's most pressing challenges: achieving a sustainable balance between supply and demand, particularly amid the Kingdom's population growth and continued urban expansion.


Saudi Stocks Rebound 0.9%, Recouping Previous Session's Losses

An investor monitors stock market data on a screen at the Saudi Exchange (Tadawul) in Riyadh (Reuters)
An investor monitors stock market data on a screen at the Saudi Exchange (Tadawul) in Riyadh (Reuters)
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Saudi Stocks Rebound 0.9%, Recouping Previous Session's Losses

An investor monitors stock market data on a screen at the Saudi Exchange (Tadawul) in Riyadh (Reuters)
An investor monitors stock market data on a screen at the Saudi Exchange (Tadawul) in Riyadh (Reuters)

Saudi stocks closed higher on Monday, recovering some of the losses sustained in the previous session as heavyweight shares strengthened and the banking sector advanced.

The benchmark Tadawul All Share Index (TASI) rose 0.90% to close at 10,106 points, gaining 90 points. Total trading value reached approximately SAR 3.5 billion ($933 million).

The index had fallen 0.8% on Sunday amid selling pressure on heavyweight stocks.

Anaam International Holding Group, Fitaihi Holding Group and Raoom were among the session's top gainers, rising between 7% and 9% to close at SAR 11.93, SAR 2.11 and SAR 72.30, respectively.

On the losing side, Almunajem Foods led the declines, shedding 9.20% to SAR 49.94, followed by Saudi Paper Manufacturing Co., which fell 6.18% to SAR 48.88, and Alamar Foods, which dropped 4.63% to SAR 44.06.

At the sector level, banks led the gains, advancing 1.60%, supported by a 2.06% rise in Bank AlJazira shares, which closed at SAR 10.89.


Tesla to Refund Many Cybertruck Deposits as Demand Exceeds Production, Musk Says

Tesla Cybertruck electric vehicles sit parked in a storage lot in San Diego, California on April 11, 2025. (AFP)
Tesla Cybertruck electric vehicles sit parked in a storage lot in San Diego, California on April 11, 2025. (AFP)
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Tesla to Refund Many Cybertruck Deposits as Demand Exceeds Production, Musk Says

Tesla Cybertruck electric vehicles sit parked in a storage lot in San Diego, California on April 11, 2025. (AFP)
Tesla Cybertruck electric vehicles sit parked in a storage lot in San Diego, California on April 11, 2025. (AFP)

Tesla will have to refund Cybertruck deposits for many customers as orders far exceed production capacity, CEO Elon Musk said, following last week's announcement that the electric vehicle maker is winding down the pickup truck's production at its Texas factory.

"We will try ‌to make ‌as many as ‌possible ⁠before shutting down the ⁠line in about 8 months, but will have to return deposits for a lot of people," the billionaire said in a post on X on Monday.

The comments ⁠come after Musk said ‌Tesla would ‌add an extra production shift to fulfill outstanding ‌Cybertruck orders before dismantling the production ‌line next year to expand output of its Cybercab robotaxi.

The production winddown is slated for mid-2027, Musk announced on ‌Friday, with the resources being redirected to the Cybercab, a vehicle ⁠central ⁠to the automaker's autonomous-driving ambitions.

Tesla began delivering the Cybertruck in late 2023, but demand has fallen far short of Musk's expectations. US sales fell 48% to 20,237 units last year, according to Kelley Blue Book, well below Musk's earlier projection that annual Cybertruck sales could reach 250,000 vehicles.