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Expo 2030 Riyadh Awards the Main Utilities and Infrastructure Works Package

The milestone demonstrates the project’s increasing momentum as it shifts from early works to large-scale construction activity. (SPA)
The milestone demonstrates the project’s increasing momentum as it shifts from early works to large-scale construction activity. (SPA)
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Expo 2030 Riyadh Awards the Main Utilities and Infrastructure Works Package

The milestone demonstrates the project’s increasing momentum as it shifts from early works to large-scale construction activity. (SPA)
The milestone demonstrates the project’s increasing momentum as it shifts from early works to large-scale construction activity. (SPA)

In a step aimed at advancing construction activities, Expo 2030 Riyadh awarded its Main Utilities and Civil Works package to Nesma and Partners - marking a significant moment in the journey to bring to life one of the most ambitious global mega-events ever developed.

The milestone demonstrates the project’s increasing momentum as it shifts from early works to large-scale construction activity.

In a statement on Wednesday, Expo 2030 Riyadh Company said the Main Utilities and Infrastructure Works package aims to prepare the site for subsequent construction phases and supports the operational requirements of the event itself.

The scope of work includes constructing roads within the Expo site and installing essential utilities that will form the infrastructure backbone of the entire development.

Around 50 kilometers of infrastructure networks will be delivered as part of this package – including water, sewage, EV charging stations, and electrical and communication systems. Together, these works are essential to support the next stages of master plan development and allow Expo 2030 Riyadh’s experience-defining structures to take shape.

CEO of Expo 2030 Riyadh Company Talal Al-Marri said: “This milestone marks an important step in accelerating construction activities in the Expo 2030 Riyadh site. By moving early on the infrastructure that underpins the entire site, we are creating the conditions for safe, coordinated, and high-quality delivery across all future phases of development, while ensuring a lasting legacy well beyond 2030.”

“The contract has been awarded ahead of schedule to accelerate the delivery timeline as part of a phased approach that will see construction across infrastructure, buildings, and public spaces advance steadily through 2026 and into early 2027,” he stressed.

President and Chief Executive Officer of Nesma and Partners Samer Abdul Samad said: “We are proud to be entrusted with delivering this phase of infrastructure for Expo 2030 Riyadh. This project is not only about scale, but also about precision, integration, and responsibility.”

“Our focus will be on delivering high-quality infrastructure that supports the ambition of Expo 2030 Riyadh and sets a strong foundation for everything that follows,” he added.

Expo 2030 Riyadh Company has embedded high standards for quality, sustainability, innovation, worker welfare, and health and safety into the delivery of the works, reinforcing its commitment to responsible construction and creating a safe, inclusive environment for everyone involved in the program.

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Business

Saudi Arabia Concludes Privatization Program

The Saudi capital (Reuters)
The Saudi capital (Reuters)
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Saudi Arabia Concludes Privatization Program

The Saudi capital (Reuters)
The Saudi capital (Reuters)

Saudi Arabia’s Council of Economic and Development Affairs (CEDA) has approved the conclusion of the Kingdom’s Privatization Program after its implementation and objectives were fully completed, in line with the roadmap established when the initiative was launched in 2018.

The decision was taken during a meeting held via videoconference on Wednesday, during which the council also reviewed key developments in the domestic and global economic landscape.

The council highlighted the strong competitive capabilities of the Saudi economy in confronting expected global shifts in 2026, noting that current financial indicators reflect an upward trajectory driven by robust growth in non-oil sectors, alongside the recovery of petroleum activities and the expansion of the national industrial base.

Launched in 2018, the Privatization Program aimed to support national economic growth, strengthen the role of the private sector, and identify government assets, services, and resources suitable for privatization across multiple sectors. The program sought to improve the quality and efficiency of public services while reducing their cost for individuals and businesses.

At the start of its virtual meeting, the council reviewed the monthly report submitted by the Ministry of Economy and Planning, which addressed recent developments in the global economy and growth prospects for 2026 amid ongoing challenges, as well as their potential impact on the national economy and its ability to adapt to global economic changes.

The report underscored the positive trend reflected in various economic and financial indicators, including GDP growth driven by continued expansion in non-oil activities, the recovery of oil-related sectors, rising industrial output, and stable inflation, supported by government measures to regulate real estate prices and maintain balance in the property market.

The conclusion of the Privatization Program marks a transition from a foundational phase to a new phase focused on implementation and maximizing impact. This shift will be guided by the National Privatization Strategy, which has reviewed targets, developed new opportunities, and established a comprehensive national framework for prioritizing initiatives across key sectors.

Business

Gold Eyes $5,600 on Flight to Safety; Silver Tops $120

Gold bars with Chinese characters reading “Fortune Gold” are seen at a gold shop in Hangzhou, in China’s eastern Zhejiang province on January 26, 2026. (Photo by AFP) / China OUT
Gold bars with Chinese characters reading “Fortune Gold” are seen at a gold shop in Hangzhou, in China’s eastern Zhejiang province on January 26, 2026. (Photo by AFP) / China OUT
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Gold Eyes $5,600 on Flight to Safety; Silver Tops $120

Gold bars with Chinese characters reading “Fortune Gold” are seen at a gold shop in Hangzhou, in China’s eastern Zhejiang province on January 26, 2026. (Photo by AFP) / China OUT
Gold bars with Chinese characters reading “Fortune Gold” are seen at a gold shop in Hangzhou, in China’s eastern Zhejiang province on January 26, 2026. (Photo by AFP) / China OUT

Gold marched ahead on Thursday, hovering just shy of $5,600 an ounce as investors rushed into safe havens amid geopolitical and economic unease, while silver vaulted past $120.

Spot gold shot up 3% to $5,560.07 an ounce by 0557 GMT, after hitting a record $5,594.82 earlier in the day. The metal has hit record-highs for nine straight sessions, Reuters said.

"Gold prices are (rising on) safe-haven demand because of the strange geopolitical situation and even the political situation in the US, (which is) not looking great. There are concerns around Fed independence. And when that happens, investor trust in ‌the financial system ‌gets shaken up," said ANZ analyst Soni Kumari.

Investors are ‌worried ⁠about the US ‌Federal Reserve's independence amid the Trump administration's criminal investigation into Chair Jerome Powell, efforts to fire Fed Governor Lisa Cook, and the looming nomination of Powell's replacement in May.

"Growing US debt and uncertainty created by signs that the global trade system is splintering into regional blocs as opposed to a US-centric model (are leading investors to pile into gold)," said Marex analyst Edward Meir.

The yellow metal jumped past the $5,000 mark for the first time on Monday and ⁠has gained more than 10% so far this week, with strong safe-haven demand, firm central bank buying, and ‌a weaker dollar, all driving prices higher.

Gold has already ‍gained more than 27% this year, ‍following a 64% jump in 2025.

"Although the parabolic nature of the rally suggests ‍a pullback is not far away, the underlying fundamentals are expected to remain supportive throughout 2026, positioning any dips as attractive buying opportunities," IG market analyst Tony Sycamore said.

US President Donald Trump urged Iran on Wednesday to come to the table and strike a deal on nuclear weapons. He warned that any future US attack would be far more severe than the one last year when Iranian nuclear sites were struck.

Tehran responded ⁠with a threat to strike back against the US, Israel, and those who support them.

Meanwhile, the Fed left rates unchanged on Wednesday, as widely expected. Powell said inflation in December was likely still well above the central bank's 2% target.

With elevated gold prices, customers have been flocking to precious metal traders in Shanghai and Hong Kong, with some betting it could rise even further.

Elsewhere, spot silver was up 1.4% at $118.25 an ounce after hitting a record high of $120.45 earlier. Demand from investors looking for cheaper alternatives to gold, along with supply shortages and momentum buying, helped the white metal, which has already jumped more than 60% thus far in 2026.

Spot platinum climbed 2.8% to $2,770.49 an ounce, after hitting ‌a record high of $2,918.80 on Monday, while palladium rose 1.6% to $2,107.37.

Business

Saudi Arabia Exempts High-Growth Sectors from Franchise Experience Rule

One of the franchising roadshows organized by the General Authority for Small and Medium Enterprises to support entrepreneurs (SPA)
One of the franchising roadshows organized by the General Authority for Small and Medium Enterprises to support entrepreneurs (SPA)
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Saudi Arabia Exempts High-Growth Sectors from Franchise Experience Rule

One of the franchising roadshows organized by the General Authority for Small and Medium Enterprises to support entrepreneurs (SPA)
One of the franchising roadshows organized by the General Authority for Small and Medium Enterprises to support entrepreneurs (SPA)

Saudi Arabia will allow selected high-growth and innovative sectors to offer franchises without meeting a long-standing operational experience requirement, in a move aimed at accelerating investment and broadening entrepreneurship.

The decision aligns with Vision 2030's goals to expand opportunities in sectors that support national economic growth and meet local market demand.

According to the information, the Council of Ministers approved the non-application of Article Five of the Franchise Law to certain franchisors. The article required businesses to operate for at least 1 year through at least two outlets before offering franchises.

The exemption targets key sectors, including transport and logistics, aviation and defense, entertainment and tourism, sports, healthcare, mining, and renewable energy.

The move is intended to strengthen the local economy’s regional and global competitiveness by creating a flexible environment that allows innovative projects to expand rapidly through franchising, without waiting for traditional establishment periods.

Franchisors must, however, present a clear and detailed business model, including a feasibility study and guarantees of success.

Strict criteria to protect franchisees

To ensure investment quality, the government has set specific conditions for benefiting from the exemption, including:

Franchisors must submit a clear, detailed business model that includes operational guidelines and a market analysis, serving as a practical manual supported by a feasibility study that underpins success.

The franchised activity must be innovative or offer a product or service that contributes to national economic development or meets local market demand. Applications will be assessed based on innovation, economic impact, or responsiveness to market needs.

The exemption also requires that franchisors not charge franchisees any consideration before operations begin. Fees may be collected only after revenues are generated, as defined in the agreement, to reduce operational risks for franchisees and link payments to actual performance.

Specialized committee

To ensure governance, the information revealed the formation of a specialized committee, chaired by the Ministry of Commerce, with members from the Ministries of Investment, Economy, and Planning.

The committee will evaluate exemption applications based on economic impact and the quality of the proposed business model.

A modern system for a secure investment environment

Saudi Arabia’s Franchise Law, approved in 2019, is considered a cornerstone of the Kingdom’s modern commercial regulatory framework. It aims to enhance transparency and clarity in the relationship between franchisors and franchisees, while providing legal protection for both sides.

The law promotes franchising activity in the Kingdom by establishing a clear regulatory framework governing the relationship between franchisors and franchisees, reinforcing transparency and clarity.

It provides necessary protections for both parties and enables informed investment decisions that help raise the quality of goods and services offered in Saudi Arabia.

The provisions of the Franchise Law apply to any franchise agreement implemented within the Kingdom. The law sets a minimum experience requirement for franchisors, regulates the contractual relationship between the parties, and defines their rights and obligations.

It also requires franchisors to disclose key risks, rights, and obligations associated with franchise opportunities, and governs the renewal, termination, or transfer of franchise agreements.