Vision 2030

Aerial view of Riyadh at night with illuminated modern skyscrapers and busy streets under a clear dark sky, Al Olaya street.

Analysis

Saudi Arabia downsizes megaprojects, chases cash amid AI push

After years of breakneck spending, Crown Prince Mohammed bin Salman’s flagship plan to diversify the oil-dependent economy — dubbed Vision 2030 — is facing a fresh round of delays and recalibration as softer oil prices squeeze public finances and force tougher choices.

Samuel Wendel

By Samuel Wendel , Jack Dutton

Advertisement boards on main road of the city Sheikh Zayed Road.

UAE launches sovereign open-source AI model K2 Think: What to know

The Gulf state is one of the few countries in the world developing its own sovereign open-source AI model to counter the dominance of the United States and China in the sector.

United Arab Emirates

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef addresses the Future Minerals Forum in Riyadh, on Jan. 14, 2026.

Interview

Saudi Arabia keeps doors open to US, China in critical minerals race

Washington is playing catch-up with Beijing to get its slice of the critical minerals sector, which is essential to strategic industries like clean energy, defense and electronics.

Bandar Alkhorayef

Bandar Alkhorayef

Saudi Minister of Industry and Mineral Resources

FAYEZ NURELDINE/AFP via Getty Images

Saudi Arabia to open stock markets to all foreign investors in February: What to know

The Saudi Capital Market Authority announced that it would remove restrictions that have historically limited foreign investors' access to the country’s Tadawul stock exchange.

Latest News

Saudi Arabia awards record number of mining licenses in Vision 2030 push

Railroad tracks by a quarry at the Jubail Industrial City, north of Dammam, in Saudi Arabia's Eastern province, overlooking the Gulf, Dec. 11, 2019.

Culture

AWSN predicts soaring Saudi Arabia demand for women’s sports apparel

Al Nassr Club were crowned champions of the 2024/25 Saudi Women’s Premier League for the third time, securing the title on April 23, 2025. Credit AWSN

Saudi PIF eyes $27B Japan portfolio as kingdom courts Asian investment

RICHARD A. BROOKS/AFP via Getty Images

In Bristol, reporting on regional business, climate change, AI, tech

Saudi Arabia opens Nomu Parallel Market to new investors: What to know

A man monitors the board at the Stock Exchange Market (Tadawul) bourse in Riyadh, Dec. 12, 2019.

A model of IBM Quantum shows the three chandeliers that would be a part of the System Two installation, the System One comprises of one such chandelier, seen during the inauguration of Europe's first IBM Quantum Data Center, on Oct. 1, 2024, in Ehningen, Germany.

Saudi Arabia deploys region’s first industrial quantum computer: What to know

The announcement significantly boosts Saudi Arabia’s Vision 2030 strategy to diversify the economy away from oil by the end of the decade.

A view of Al Majdoul, a skyscraper in Riyadh, Aug. 1, 2023.

Feature

Saudi Arabia leans on AI for real estate growth as gigaprojects slow

The kingdom is increasingly announcing projects merging AI and real estate to cut costs while building smarter, data-driven, and more sustainable infrastructure.

In Bristol, reporting on regional business, climate change, AI, tech

Justin Setterfield/Getty Images

Interview

Saudi foreign ownership property law won't overheat market, says Dar Global CEO

Saudi Crown Prince Mohammed bin Salman has frozen rent in Riyadh for five years to contain soaring prices.

Ziad El Chaar

CEO of Dar Global

FAYEZ NURELDINE/AFP via Getty Images

Culture

YouTuber MrBeast brings pop-up theme park to Saudi Arabia

Beast Land, open from Nov. 13 to Dec. 27, features several obstacle-course challenges similar to those that appear in the influencer’s videos.

Ezra Acayan/Getty Images

Oil prices fall for 3rd straight month as Saudi-led OPEC+ weighs more cuts

The falling oil prices are being driven further down by China’s slowdown and are affecting Saudi Arabia’s diversification plans.

FAYEZ NURELDINE/AFP via Getty Images

Billion-dollar AI, clean energy deals headline Saudi 'Davos in the Desert'

Humain, an AI firm backed by the Saudi sovereign wealth fund, the PIF, signed a $3 billion deal with AirTrunk, a company backed by US asset manager Blackstone, to build a data center campus in the kingdom.

A Delta Air Lines Airbus A220 airplane prepares to takeoff at Ronald Reagan Washington National Airport in Arlington, Virginia, on July 10, 2025.

Delta to launch first direct US-Saudi flight as business ties deepen

Beginning in October 2026, Delta will fly from its Atlanta hub to the Saudi capital three times a week on an Airbus A350-900 — a route that will span more than 7,000 miles.

Former Uber CEO Travis Kalanick leaves the Phillip Burton Federal Building on day three of the trial between Waymo and Uber Technologies on February 7, 2018 in San Francisco, California.

Saudi Arabia grants citizenship to Uber co-founder, Red Sea Global CEO

Uber co-founder Travis Kalanick and Red Sea Global CEO John Pagano have been granted Saudi citizenship.

Ziad El Chaar, Dar Global's chief executive officer. — Dar Global

Interview

Dar Global hints at Trump real estate deals in Saudi Arabia’s gigaprojects

The Dubai-headquartered real estate company has worked with the Trump Organization on luxury property developments across the Gulf.

Ziad El Chaar

Chief Executive Officer, Dar Global

PAUL ELLIS/AFP via Getty Images

Blackstone, Abu Dhabi's Lunate set up $5B GCC logistics investment platform

The new platform will capitalize on the growing logistics sector in the Gulf.

United Arab Emirates

A Riyadh Metro train makes its way along a track in the middle of a road in Riyadh on December 3, 2024.

What’s next for Saudi Arabia’s budget balancing act as deficit doubles?

The Gulf state now expects a deficit of $65.3 billion in 2025 — more than double the initial forecast — as the kingdom continues heavy spending amid weak oil prices.

The Saudi delegation meets with Vietnamese officials in Hanoi, Sept. 29, 2025.

After China, Saudi industry minister visits Vietnam in eastward economic push

Saudi Arabia’s Minister of Industry and Mineral Resources Bandar Alkhorayef met with a number of Vietnamese officials on Monday as the oil-rich Gulf kingdom looks east to diversify its economic alliances.