This week in Saudi, the first phase of Sports Boulevard was opened to the public, marking a major milestone in Riyadh’s transformation into a global athletics and lifestyle destination. The project, led by the Sports Boulevard Foundation, is now 40% complete, with 83 km of the route set to be accessible to visitors starting on the 27th of February. Five key destinations have been launched in the initial phase: Wadi Hanifah, the Promenade, a section at the intersection of Prince Mohammed bin Salman bin Abdulaziz Rd. and Prince Turki bin Abdulaziz Al-Awwal Rd., as well as the Princess Nourah bint Abdulrahman University internal loop, and the first phase of Sands Sports Park.
In other news, it was announced that KSA issued 1,346 industry licenses in 2024. The Ministry of Industry and Mineral Resources announced that the permits have also helped attract investments worth over SAR 50 billion ($13.3 billion), driving economic growth and diversification. The issuance of the permits aligns with Saudi Arabia’s National Industrial Strategy, launched by Crown Prince Mohammed bin Salman in October 2022, which aims to drive sector growth and increase the number of factories in the Kingdom to about 36,000 by 2035.
Economy, Budgets and Finance
Arab News: Over 1,300 Saudi industrial licenses were awarded in 2024, attracting $13.3bn investment. Read Here
Arab News: Saudi Arabia raises $2.36bn in euro bonds. Read Here
Arab News: Saudi Arabia launches March ‘Sah’ savings with 4.98% return. Read Here
Government & Royal Family
Alarabiya News: Saudi Defence Minister Prince Khalid meets Pentagon chief to discuss boosting ties. Read Here
Saudi Gazette: Transport minister approves major regulatory amendments for car rental sector. Read Here
Commercial
Arab News: Saudi Arabia tightens corporate ownership rules to boost transparency. Read Here
Arab News: Saudi Arabia’s non-oil exports to China surge 70% as trade ties deepen. Read Here
Social
Arab News: Saudi Arabia opens the first phase of Sports Boulevard. Read Here
Saudi Gazette: Saudi Arabia to partner with US company to manufacture and export “flying taxis.” Read Here
Arab News: How Saudi Arabia is using advanced automated systems to tackle traffic congestion. Read Here
Arab News: Saudi entities sign housing deal to support vulnerable families. Read Here
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