Industry

ACWA Power, recognized as the world’s largest private water desalination firm, has obtained a Shariah-compliant loan worth SR750 million (about $119 million) from Alinma Bank, according to the company. This funding will support the construction of ACWA Power’s new headquarters in Riyadh. The seven-year loan reflects Alinma Bank’s confidence in ACWA Power’s financial health and its contribution to Saudi Arabia’s...

Saudi Arabia is advancing its automotive industry with the establishment of the King Salman Automotive Cluster at King Abdullah Economic City, a project announced by His Royal Highness Crown Prince Mohammed bin Salman. This cluster is set to become a central hub for automotive manufacturing and innovation, hosting major companies such as Ceer, the country’s first electric vehicle brand, and...

KROHNE Middle East showcased its latest measurement solutions at Saudi Food Manufacturing 2025 in Riyadh, joining industry leaders and experts to discuss the future of food production across the region. At the Food Forward Summit, KROHNE emphasized how precise measurement technologies are essential for advancing the food and beverage sector and supporting the ambitions of Saudi Vision 2030. Henrik von...

Saudi Arabia’s builders joinery and wood carpentry market is experiencing notable growth, with projections from P&S Intelligence indicating it will reach USD 1,333.4 million by 2030, up from USD 984.2 million in 2024. This expansion, at a compound annual growth rate of 5.2%, is largely fueled by a booming construction sector and government initiatives such as the National Industrial Development...

Facility Management Sector Growth in Saudi Arabia The facility management sector in Saudi Arabia is experiencing rapid growth, with the market valued at USD 730 million in 2024 and forecasted to reach USD 1,540 million by 2033, according to IMARC Group. This expansion is driven by technological advancements, evolving industry needs, and significant investments in infrastructure. Key trends include the...

Saudi Arabia is prioritizing youth empowerment and job creation, according to His Excellency Bandar Alkhorayef, Minister of Industry and Mineral Resources. Speaking at the Human Capability Initiative Conference in Riyadh, His Excellency highlighted the government's commitment to equipping the country's young population with the education and skills needed for future challenges. His Excellency Bandar Alkhorayef emphasized that the Ministry of...

Rapid Growth in Saudi Arabia’s Commercial Construction Sector Saudi Arabia’s commercial construction sector is witnessing rapid growth, with its market size estimated at $72.1 billion in 2024 and expected to reach $98.61 billion by 2030, according to ResearchAndMarkets.com. The sector’s expansion is fueled by a 5.2% compound annual growth rate, driven by the nation’s Vision 2030 strategy, which aims to...

Saudi Arabia’s Minister of Industry and Mineral Resources Visits Indonesia to Deepen Bilateral Cooperation His Excellency Bandar Al-Khorayef, Minister of Industry and Mineral Resources of the Kingdom of Saudi Arabia, is set to visit Indonesia, highlighting the growing partnership between the two nations. This official trip aims to deepen cooperation in the industrial and mining sectors, with bilateral trade surpassing...

Nissan, a cornerstone of Japan’s car industry, is grappling with mounting financial difficulties and is now in talks with Saudi Arabia’s Public Investment Fund (PIF) for support, according to Automobilwoche. The discussions with PIF mark a shift from earlier speculation about possible partnerships with Honda and Foxconn. While Honda and Foxconn explored collaborations, no firm agreements were reached. PIF, which...

Saudi Arabia's Construction Sector Poised for Significant Growth Saudi Arabia's construction sector is set for notable expansion, with market research from P&S Intelligence projecting an increase in value from USD 70.4 billion in 2024 to USD 97.4 billion by 2030, at a compound annual growth rate of 5.6%, according to P&S Intelligence. This growth is fueled by the government's major...