Saudi Arabia Expands its Economic Capabilities to Space

A photo taken from the Riyadh Space Exhibition, which was held at the King Salman Science Park last month under the slogan “Man and Space”. (SPA)
A photo taken from the Riyadh Space Exhibition, which was held at the King Salman Science Park last month under the slogan “Man and Space”. (SPA)
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Saudi Arabia Expands its Economic Capabilities to Space

A photo taken from the Riyadh Space Exhibition, which was held at the King Salman Science Park last month under the slogan “Man and Space”. (SPA)
A photo taken from the Riyadh Space Exhibition, which was held at the King Salman Science Park last month under the slogan “Man and Space”. (SPA)

Saudi Arabia’s recent announcement that it was sending two Saudi astronauts to the International Space Station (ISS) has kicked off talks about the Kingdom’s serious endeavor to benefit from the space economy as a giant sector, where global visions of sustainability and technology intersect.

The astronauts will make their trip during the second quarter of 2023, in a first-of-its-kind move for the Kingdom.

Last year, the Saudi government decided to establish the Supreme Space Council in view of the strategic importance of the space sector, which represents the main engine to stimulate innovation and inspire future generations, according to a statement of the Communications, Space and Technology Commission (CSTC).

Saudi Minister of Communications and Information Technology Abdullah Alswaha said the efforts would focus on creating the space market and stimulating research and innovation, and then moving towards the stage of regulation and governance.

The authority will play a pivotal role in setting the adequate regulations, as well as coordinating and cooperating with space regulators at the global level and building relationships with industry stakeholders.

Capacity building

In September 2022, the Saudi Space Authority launched the Kingdom’s Astronaut Program, which aims to qualify experienced national cadres for long- and short-term space flights. The program also seeks to train Saudi astronauts to participate in scientific experiments, international research, and future space-related missions.

The program aims to take advantage of the promising opportunities offered by the space sector and its industries globally and to contribute to research to serve humanity in a number of priority areas, such as health, sustainability and space technology.

Last week, the Saudi Press Agency (SPA) reported that Saudi female and male astronauts Rayana Bernawi and Ali Al-Qarni will join the crew of the Axiom Mission 2 (or Ax-2), with the aim of building national capacities.

The space mission aims to empower capabilities of Saudi scientists in human spaceflight geared towards serving humanity and benefiting from the promising opportunities offered by the space industry.

SPA added that the journey would start from the United States to the ISS. The program includes two other astronauts Maryam Firdous and Ali Al-Ghamdi, who will be trained on all mission requirements, but not take part in the journey.

In 1985, Prince Sultan bin Salman bin Abdulaziz was the first Arab astronaut to participate in a space flight, which also launched from the United States.

NASA announcement

NASA announced that Bernawi and Al-Qarni will take off “in the spring of 2023” from the Kennedy Space Center in Florida, in the United States, on a private mission operated by Axiom Space.

The two Saudi astronauts will accompany Peggy Whitson and John Shoffner on the Ax-2 mission, a Crew Dragon flight set to launch no earlier than May 1, 2023, to the ISS.

Economic dimension

In previous remarks, Minister Alswaha emphasized the importance of the space sector as “the next trillion global economy”, saying that the establishment of Supreme Space Council was “an important step to stimulate innovation and inspire future generations for our beloved country.”

Observers have underscored the importance of the decision, which corresponds with the vision followed by Saudi Arabia in launching programs and projects that are compatible with its financial and human capabilities, to create complementary industries for this sector, and a specialized market in the world of space.

Space agreements

Saudi Arabia had earlier concluded many agreements and contracts, including the Artemis Accords with the NASA, to join the international coalition in the field of civil exploration and the use of the moon, Mars, comets and asteroids for peaceful purposes.

Government attention

Alswaha said the fact that Prince Mohammed bin Salman, Crown Prince and Prime Minister, was president of the Supreme Space Council was a clear message of the importance that the Kingdom places on the space sector.

The council will focus on three main axes: adopting policies and strategies for the sector’s programs, approving its annual plans and monitoring the implementation of its national strategy, and achieving compatibility with various sectors and national needs.

Saudi transformation

The decision to establish the Supreme Space Council came in line with the industrial and economic transformation in Saudi Arabia, based on the initial steps taken by the Saudi Space Authority since its establishment in 2018.

These moves have resulted in the conclusion of an agreement in mid-March with the British Space Agency for cooperation in the field of peaceful use of outer space, aimed at providing a framework for cooperation in space activities.

Saudi satellites

Between 2000 and 2019, the Kingdom launched 16 Saudi satellites into space under the supervision of the King Abdulaziz City for Science and Technology (KACST). The latest was the Saudi Communications Satellite (SGS1), which was launched on February 6, 2019, bearing the signature of Crown Prince Mohammed with the words, “Above the clouds.”

SGS1 works to serve the modern satellite communications sector, which includes broadband and secure military communications, as well as the provision of communications to semi-remote and stricken areas for use in various fields of sustainable development such as: applications (high-speed broadband communications, and secure communications for government agencies).

The satellite is operated and managed through advanced ground control stations in the Kingdom.

An international map

Dr. Faisal Al-Fadil, member of the Saudi Shura Council, said the decision to establish the Supreme Space Council is part of the moves taken by Saudi Arabia in all economic and social fields, which aim to place the Kingdom on the international map in science, economy and politics.

According to Al-Fadil, these three branches depend on two pillars: cadres and a clear strategy.

Twenty companies

The Saudi Space Authority is currently seeking to attract 20 emerging companies in the fields of space tourism, exploration, satellite communications and space photography.

The program will enable these companies to work and connect with world-class resources to enhance their chances of success, in partnership with Techstars, a global investment firm that provides access to capital, individual mentorship, a global network, and customized programming for early-stage entrepreneurs.

Space economy

According to Morgan Stanley’s 2018 report, the size of the space economy in the world is $360 billion. It is expected to reach $1.1 trillion in 2040 and $2.7 trillion by 2050.

The G20 countries account for the largest share, at about 92 percent.

The private sector

The private sector plays a pivotal role in the space industry. According to the latest statistics, the sector achieved huge revenues of $254 billion, through six main activities that included satellite communication services and applications by around 36 percent, chips and receivers for satellite navigation by 23 percent, as well as ground equipment and devices by 23 percent, and satellite manufacturing by 9 percent.

This is in addition to space applications and remote sensing, and services for launching vehicles and human space flights by about 5 percent for each activity.



Riyadh Air Launches First Domestic Service to Jeddah

The launch marks a key step in the carrier's strategy to expand its destination network from the Saudi capital. SPA
The launch marks a key step in the carrier's strategy to expand its destination network from the Saudi capital. SPA
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Riyadh Air Launches First Domestic Service to Jeddah

The launch marks a key step in the carrier's strategy to expand its destination network from the Saudi capital. SPA
The launch marks a key step in the carrier's strategy to expand its destination network from the Saudi capital. SPA

Riyadh Air, Saudi Arabia's new national carrier, launched on Sunday its first domestic flight from Riyadh to King Abdulaziz International Airport in Jeddah.

The move is part of Riyadh Air's plans to expand its domestic network through daily flights between Riyadh and Jeddah and strengthen connectivity between major destinations across the Kingdom.

The inaugural flight arrived from King Khalid International Airport in Riyadh with Minister of Hajj and Umrah Tawfig Al-Rabiah, President of the General Authority of Civil Aviation Abdulaziz Al-Duailej, Riyadh Air board member Raid Ismail, and several aviation-sector leaders on board.

They were received by Chairman of the Board of Directors of Jeddah Airports Company (JEDCO) Raed Al-Mudaiheem, JEDCO CEO Mazen Johar, and representatives of government and security agencies operating at the airport.

The launch marks a key step in the carrier's strategy to expand its destination network from the Saudi capital. The inaugural flight departed King Khalid International Airport (RUH) at 9:00 a.m. and landed at King Abdulaziz International Airport (JED) at 10:50 a.m.

Riyadh Air launched the route with two daily flights. Frequencies will increase to three daily flights from June 18 and four daily flights from July 2.

The route is being launched amid strong demand growth. According to aviation analytics firm OAG, the Riyadh-Jeddah route ranked as the world's fifth-busiest domestic air route in 2025, with 9.8 million seats.

By operating the service, Riyadh Air supports national strategies by providing additional seat capacity that contributes to the growth of the Kingdom's tourism, business, and economic sectors.

Riyadh Air CEO Tony Douglas said the launch of flights to Jeddah marks an important milestone in the airline's journey toward building a broad network connecting Saudi Arabia with the world. He noted that the route serves a large segment of business and leisure travelers and supports the goals of Saudi Vision 2030 to develop the aviation sector and strengthen air connectivity.

JEDCO CEO Mazen Johar said the new service reflects integration among the components of the Kingdom's aviation ecosystem and contributes to expanding travel options and enhancing passenger services. He added that King Abdulaziz International Airport served more than 14.8 million passengers through nearly 84,000 flights during the first quarter of 2026, reflecting continued growth in operational activity.

The new flights support Riyadh Air's goal of reaching more than 100 destinations worldwide. The route also facilitates business travel, tourism, and Hajj and Umrah traffic while reinforcing Riyadh's position as a major international air-connectivity hub.


Saudi Housing Surpasses One Million Contracts as 70% Homeownership Target Nears

Construction work in the 'Shams Al-Diyar' project, part of the housing program in Riyadh (SPA)
Construction work in the 'Shams Al-Diyar' project, part of the housing program in Riyadh (SPA)
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Saudi Housing Surpasses One Million Contracts as 70% Homeownership Target Nears

Construction work in the 'Shams Al-Diyar' project, part of the housing program in Riyadh (SPA)
Construction work in the 'Shams Al-Diyar' project, part of the housing program in Riyadh (SPA)

Saudi Arabia continues to reshape its real estate sector at a rapid pace, achieving structural advances that have placed quality of life at the heart of urban development. The enabling of nearly 33,000 Saudi families to obtain their first home during the first quarter of 2026 underscores the efficiency of the regulatory framework in advancing the goals of Vision 2030 and moving toward its target of raising homeownership to 70 percent.

This momentum, which lifted the homeownership rate to 66.24 percent by the end of 2025, coincides with the Real Estate Development Fund and the Sakani program surpassing the milestone of one million subsidized contracts, reflecting a profound transformation in the structure of the market and greater integration across its financing and regulatory components.

Integrated Regulatory Environment

In an analysis of first-quarter 2026 figures, Mohammed Al-Rassasmah, spokesperson for the Ministry of Municipalities and Housing, told Asharq Al-Awsat that enabling 32,983 Saudi families to own their first home in just three months reflects the integration of the housing ecosystem across its various components, from developing the regulatory and legislative environment to expanding housing options and providing financing solutions and partnerships with the private sector.

Al-Rassasmah explained that the carefully planned expansion of housing projects and the diversification of real estate products have helped meet the needs of different segments of Saudi families. He pointed to the decisive role played by digital transformation in improving procedural efficiency and accelerating access to suitable housing solutions for beneficiaries.

He noted that this achievement builds on what Minister of Municipalities and Housing Majed Al-Hogail announced at the beginning of this year regarding the homeownership rate among Saudi families exceeding 66.24 percent by the end of 2025, demonstrating the success of the housing system in expanding ownership opportunities across the Kingdom.

Partnership With the Private Sector

Within this development path, Al-Rassasmah said partnerships with the private sector represent one of the key enablers of growth in the housing sector, contributing directly to increased real estate supply and faster development.

He added that real estate developers now offer a diverse range of housing products that meet families' aspirations, while the ministry continues to improve the investment environment and promote competitiveness.

He noted that the sector's transformation is no longer limited to developing individual housing units but now extends to creating integrated urban communities that provide services, facilities, infrastructure, and quality-of-life opportunities. This, he said, enhances the attractiveness of cities and improves the efficiency of long-term economic development.

Headquarters of the Real Estate Development Fund in Riyadh (Fund's website)

Off-Plan Sales Projects

Regarding off-plan sales projects, Al-Rassasmah said they have become one of the most important tools supporting increased housing supply and accelerating real estate development in recent years.

He explained that these projects have enabled the implementation of larger and more diverse developments, providing broader opportunities for ownership.

He stressed that the strict regulatory and oversight framework imposed by the ministry has enhanced the credibility of such projects and protected buyers' rights, increasing confidence in the market and significantly boosting demand. As a result, they have become one of the most reliable pathways supporting first-home ownership.

Long-Term Strategic Vision

The ministry's spokesperson also stressed that the ministry approaches housing demand from a long-term strategic perspective focused on increasing supply and improving the efficiency of the real estate market through empowering developers, developing land and master plans, stimulating investment flows, and expanding housing projects in areas experiencing high demand.

He explained that increasing supply and diversifying housing options contribute positively to market balance and help provide more suitable solutions for beneficiaries, alongside the ministry's ongoing efforts to enhance transparency, develop real estate indicators, and improve market efficiency to ensure it remains attractive and stable.

Al-Rassasmah concluded by describing mortgage finance as one of the key pillars behind the rise in homeownership rates in recent years through the provision of diverse and accessible financing solutions that have strengthened the purchasing power of Saudi families.

He noted that 23,222 families benefited from housing support services during the first quarter of this year alone, and added that cooperation among the housing ecosystem, financing institutions, and the Real Estate Development Fund helped push the number of subsidized contracts beyond 1.02 million by the end of last March.

According to Al-Rassasmah, the transformation currently taking place in the sector reflects a comprehensive structural shift that supports the sustainability of the real estate market and enhances citizens' quality of life in line with national ambitions.


Iraq Cancels $764 million Baghdad Airport Project over Corruption Concerns

Ali al-Zaidi has decided to cancel the Baghdad International Airport development project - File photo/Reuters
Ali al-Zaidi has decided to cancel the Baghdad International Airport development project - File photo/Reuters
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Iraq Cancels $764 million Baghdad Airport Project over Corruption Concerns

Ali al-Zaidi has decided to cancel the Baghdad International Airport development project - File photo/Reuters
Ali al-Zaidi has decided to cancel the Baghdad International Airport development project - File photo/Reuters

Iraqi Prime Minister Ali al-Zaidi has decided to cancel the Baghdad International Airport development project after corruption suspicions were raised, Iraqi state media reported on Sunday, citing a government source.

The project involves a $764 million contract awarded last year to a consortium of Luxembourg-based Corporacion America Airports (CAAP) and Iraqi real estate firm Amwaj International, aimed at upgrading and expanding the capital’s main airport, Reuters reported.

Two government sources speaking on condition of anonymity due to the sensitivity of the matter told Reuters that officials raised concerns about potential irregularities over the tendering process and contract terms.

The move follows a drive against corruption which has meant growing scrutiny within government institutions.

The airport upgrade had been presented as a key infrastructure project to modernize Iraq’s aviation sector and increase capacity at Baghdad International Airport, which has suffered from years of underinvestment.