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Saudi Crown Prince unveils National Red Sea Sustainability Strategy to drive blue economy 

Special Saudi Crown Prince unveils National Red Sea Sustainability Strategy to drive blue economy 
Saudi Crown Prince Mohammed bin Salman has launched the National Red Sea Sustainability Strategy, an initiative aimed at safeguarding the marine environment, supporting local communities, and advancing the Kingdom’s transition to a blue economy.  File
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Updated 08 December 2024

Saudi Crown Prince unveils National Red Sea Sustainability Strategy to drive blue economy 

Saudi Crown Prince unveils National Red Sea Sustainability Strategy to drive blue economy 
  • Covering 186,000 sq. km and featuring 1,800 km of coastline, the area is home to diverse marine ecosystems, including the world’s fourth-largest barrier reef system and 6.2 percent of global coral reefs
  • The initiative reflects ֱ’s broader efforts to integrate environmental sustainability into its economic agenda while developing its marine-based industries

RIYADH: Saudi Crown Prince Mohammed bin Salman has launched the National Red Sea Sustainability Strategy, an initiative aimed at safeguarding the marine environment, supporting local communities, and advancing the Kingdom’s transition to a blue economy.  

The strategy is part of Saudi Vision 2030 and ties into national priorities for research, development, and innovation, particularly in environmental sustainability, the Saudi Press Agency reported. 

“The Kingdom of ֱ continues to unleash its enormous economic, geographical and cultural potential, and its pioneering efforts in sustainability and environmental conservation,” said the Crown Prince, who also serves as prime minister and chairman of the Council of Economic and Development Affairs.  

He added: “Through this strategy, the Kingdom positions the blue economy as a fundamental pillar of its diversified economy and aspires for the Red Sea region to become a global reference for leading blue economy activities, and for the Kingdom to become a global leader in the field of research, development and innovation in blue economy.”  

Covering 186,000 sq. km and featuring 1,800 km of coastline, the area is home to diverse marine ecosystems, including the world’s fourth-largest barrier reef system and 6.2 percent of global coral reefs.  

The strategy outlines measures to protect these resources while developing industries such as ecotourism, fisheries, renewable energy, and water desalination. 

By 2030, the plan seeks to expand marine and coastal protected areas from 3 percent to 30 percent, increase the share of renewable energy in the energy mix to 50 percent, and create new jobs in the blue economy. It also aims to protect investments in coastal tourism, which are expected to contribute to the national economy. 

The strategy focuses on five main objectives: environmental sustainability, economic development, social development, safety and security, and governance. It includes 48 initiatives designed to balance economic activity with environmental preservation and address climate challenges, the SPA added. 

The Crown Prince emphasized the Kingdom’s commitment to a sustainable future for the Red Sea, adding, “We look forward to everyone’s cooperation in protecting our Red Sea coast and the nature and communities that depend on it.” 

The initiative reflects ֱ’s broader efforts to integrate environmental sustainability into its economic agenda while developing its marine-based industries. 

​​Red Sea Project aligns with Saudi sustainability goals: CEO




John Pagano, CEO of Red Sea Global. AN photo by Huda Bashatah

Speaking in an interview with Arab News, John Pagano, CEO of Red Sea Global, emphasized that this strategy reinforces efforts already underway at the Red Sea Project, marking a significant milestone in cross-sector collaboration along the Saudi Red Sea zone.

“The strategy supports what we’ve been doing now for quite a number of years in terms of habitat, habitat creation, growing mangroves, planting mangroves, growing coral,” Pagano said.

He added: “We’ve already made significant announcements in the years leading up to the NRSSS being announced, by working with the likes of ACWA Power and EDF to produce a 100 percent renewable energy installation for the Red Sea.”

He underscored how the company’s renewable energy initiatives align with minimizing its carbon footprint, one of the key pillars of the NRSSS.

“We’re happy that the NRSSS has been announced because it ultimately brings, you know, cross-sector, cross-stakeholder engagement, where everybody along the Red Sea is going to work together to realize the full potential of the Red Sea, the Saudi Red Sea zone, and really bring a thriving blue economy to ֱ,” Pagano said.

He also highlighted the global shift in consumer preferences, particularly within the travel and tourism industry.

Pagano emphasized how people are increasingly aware of the environmental impact of their choices and are seeking more sustainable travel options.

“I think it should be no surprise that the world is changing. People and consumer habits are changing. A recent survey by Booking.com showed that something like 86 percent of respondents want to travel more sustainably,” Pagano said.

He added: “Focusing on eco-tourism is really, you know, feeding into a very rich and growing market.”

Pagano added that the project’s vision aligns with ֱ’s Vision 2030 to create a diversified economy and a thriving tourism industry. He outlined several other initiatives that demonstrate Red Sea Global’s alignment with the NRSSS.

“We align with all five pillars across. Renewable energy is a key pillar. We’re doing that already. Habitat creation. We’re doing that through growing mangroves, through planting mangroves, through growing corals, seagrasses, etc.,” he said.

Pagano highlighted the ecological importance of mangroves and coral reefs, stating, “We’ve committed to plant 50 million mangrove trees. Now, mangroves are an amazing plant for a number of reasons.”

“They protect against sea level rise and erosion. They sequester carbon at three to 10 times more carbon than the equivalent area of trees on land,” according to the CEO.

“We’re building resilience. We’re fragmenting corals to make them grow faster. We created a coral regeneration lab which recreates the spawning events that occur once or twice a year. We can now have that occur multiple times throughout the year,” Pagano said.

He also emphasized the economic impact of the Red Sea Project on ֱ, stating, “I think there are great economic effects of eco-tourism and what we’re doing on the Red Sea. We’re going to contribute, at full capacity, SR33 billion into the Saudi economy. Each and every year, we’re going to create 120,000 jobs.”

Pagano concluded the interview by extending an invitation to the world: “Come visit the Red Sea. It’s real, it’s happening, and it’s setting a new global standard for regenerative tourism.”


ֱ gears up for Biban 2025, the region’s largest startup and SME event

ֱ gears up for Biban 2025, the region’s largest startup and SME event
Updated 31 October 2025

ֱ gears up for Biban 2025, the region’s largest startup and SME event

ֱ gears up for Biban 2025, the region’s largest startup and SME event

RIYADH: ֱ is set to host the Middle East’s premier entrepreneurial event, Biban 2025, on Nov. 5, at the Riyadh Front Exhibition and Conference Center. 

Organized by the Small and Medium Enterprises General Authority known as Monsha’at, the four-day event will run under the theme “Global Destination for Opportunity.”

Now in its 11th edition, Biban 2025 will convene a global audience from over 150 countries, the Saudi Press Agency reported. 

The forum will feature 200 local and international speakers and bring together 150 enabling entities from the government and private sectors, with several billion-dollar agreements and initiatives expected to be unveiled.

The event solidifies its role as the region’s largest entrepreneurial platform, connecting startups, investors, policymakers, and world-renowned experts. The goal is to forge strategic partnerships, explore high-value opportunities, and develop innovative ideas to fuel the growth of ֱ’s entrepreneurial ecosystem.

Attendees are set to gain insights from more than 85 specialized workshops led by top experts, focusing on key areas such as finance, investment, management, marketing, digital transformation, and global expansion. 

The forum features seven main sections, designed to cover the various needs of entrepreneurs and small-to-medium enterprises. These dedicated sections address key areas such as financing, franchising, e-commerce, and market access.

Biban 2025 builds on the legacy of its previous editions, which have launched hundreds of successful projects and partnerships, empowering small and medium-sized enterprises to expand into local and global markets. 

The forum is a key initiative supporting Saudi Vision 2030, reinforcing the Kingdom’s position as a global hub for investment and opportunity.


New $80m fund to bridge Chinese industry and key Saudi sectors

New $80m fund to bridge Chinese industry and key Saudi sectors
Updated 31 October 2025

New $80m fund to bridge Chinese industry and key Saudi sectors

New $80m fund to bridge Chinese industry and key Saudi sectors

RIYADH: Digital technology, advanced manufacturing, and logistics are among the Saudi sectors set to benefit from an $80 million investment partnership between ewpartners and Chinese industrial hub Tianjin Binhai New Area.

Formalized in the presence of the Kingdom’s Public Investment Fund and its fund-of-funds platform Jada at the Future Investment Initiative conference in Riyadh, the move aims to introduce mature Chinese industrial projects and technologies into ֱ and the wider Gulf region.

This partnership directly supports Saudi Vision 2030 by leveraging Tianjin Binhai’s capabilities in alternative energy, smart manufacturing, and port logistics, combined with ewpartners’ network and investment expertise in the Middle East, according to a press release.

Jada CEO Bandr Mohammed Al-Homaly said: “Jada is committed to building a vibrant private capital ecosystem in ֱ, for example through bridging global expertise with local opportunities.”

He added: “The momentum we see from the partnership between ewpartners and Tianjin Binghai New Area, across logistics and technology for instance, reflects our shared dedication to Vision 2030 and to building a thriving private capital ecosystem in the Kingdom.” 

The goal is to accelerate industrial upgrading, enhance local supply chains, and strengthen the Kingdom’s manufacturing competitiveness.

Wu Di, vice chairman of the Administrative Commission of Tianjin Binhai Hi-tech Industrial Development Area, said: “We look forward to leveraging Tianjin’s strengths in smart manufacturing, technology, and port logistics to deepen cooperation with ֱ and the Middle East, and to build a long-term, open, and mutually beneficial international partnership.”

Jerry Li, co-founder and managing partner of ewpartners, said the partnership is not just about connecting capital— but bringing together industries and innovation capabilities. 

He added:: “Through this fund, we aim to bring China’s proven expertise in manufacturing and technological innovation to the Middle East, driving high-quality regional development.”

The fund marks a strategic step in strengthening industrial and investment ties between Asia and the Middle East, positioning ֱ as an emerging global hub for cross-border industrial cooperation.


ֱ leads GCC fixed-income issuances in Q3, Markaz says 

ֱ leads GCC fixed-income issuances in Q3, Markaz says 
Updated 31 October 2025

ֱ leads GCC fixed-income issuances in Q3, Markaz says 

ֱ leads GCC fixed-income issuances in Q3, Markaz says 

RIYADH: ֱ dominated the Gulf Cooperation Council region’s primary debt market in the third quarter of 2025, raising $20.32 billion through 36 issuances, representing a 62.7 percent year-on-year increase in value, according to a new analysis. 

In its latest report, Kuwait Financial Center, also known as Markaz, said that primary issuances of bonds and sukuk across the GCC totaled $38.74 billion through 137 issuances during the third quarter, marking a 32.4 percent increase from the same period in 2024, when issuances reached $29.29 billion. 

The debt market in the region — particularly in ֱ — has expanded significantly in recent years, driven by economic diversification efforts that have strengthened investor demand for fixed-income instruments. 

“As for issuance preferences, the third quarter of 2025 saw an increased appetite for sukuk issuances in the GCC, representing 52.6 percent of total issuances for the year. This is a change in issuance preferences from the third quarter of 2024, where more conventional bonds were issued,” said Markaz. 

According to the report, UAE-based issuers raised $5.82 billion through 57 offerings in the third quarter, marking a 47.3 percent decline compared with the same period in 2024. 

Qatar ranked third in terms of issuance value, with $5.69 billion raised through 29 issuances, followed by Kuwait, where issuers raised $3.42 billion through eight issuances, reflecting a 118.4 percent increase year on year.

Issuances in Bahrain surged 539 percent from a year earlier to $2.55 billion across four issuances, while Omani entities recorded the lowest total, raising $0.94 billion through three issuances.

Markaz added that total GCC corporate primary issuances grew 4 percent in the third quarter to $26.59 billion. Conventional issuances decreased 18.6 percent to $18.37 billion, while sukuk issuances rose sharply — up 202.7 percent during the quarter — reaching a total value of $20.37 billion for the year to date.

The financial sector led all GCC bond and sukuk issuances in the third quarter, with a total value of $21.53 billion, followed by government issuances at $11.1 billion, the report said. 


MENA IPOs raise $700m in Q3, EY report shows

MENA IPOs raise $700m in Q3, EY report shows
Updated 31 October 2025

MENA IPOs raise $700m in Q3, EY report shows

MENA IPOs raise $700m in Q3, EY report shows

RIYADH: Initial public offerings across the Middle East and North Africa raised $700 million in the third quarter of 2025, according to an EY MENA IPO Eye report. 

A total of 11 IPOs were recorded during the period, marking a 120 percent year-on-year increase in the number of listings, driven by mid-market activity. 

The strong performance extended to regional stock exchanges, with the MSCI Emerging Markets Index rising 25 percent, followed by the EGX 30 Index, which gained 23.3 percent, and the Boursa Kuwait Premier Market Index, which climbed 19.6 percent. 

The surge in IPO activity across MENA reflects broader economic diversification efforts and deepening capital markets. In ֱ, real GDP grew 5 percent in the third quarter from a year earlier, driven by strong gains in both oil and non-oil sectors, official data showed. 

In Egypt, the economy expanded 4.77 percent in the third quarter of fiscal year 2024/25, supported by an 18.8 percent year-on-year increase in non-oil manufacturing.

According to Brad Watson, EY-Parthenon MENA leader, the recent quarter “reflects the increasing depth and maturity of MENA capital markets, supported by a steady pace of listings across multiple sectors and geographies.” 

He added that companies are “becoming increasingly strategic with market timing — carefully assessing investor sentiment and macroeconomic conditions before going public.” 

ֱ accounted for the majority of IPO activity, completing eight listings that raised a combined $637 million.

Dar Al Majed Real Estate Co.’s $336 million listing on the Tadawul Main Market led the region, followed by Marketing Home Group for Trading Co. with $109 million and Sport Clubs Co. with $69 million.

An additional $124.1 million was raised through IPOs on the Nomu parallel market, spanning sectors such as retail, healthcare, and industrial services. Real estate accounted for 55 percent of proceeds on the main exchange.  

Egypt recorded IPOs from Bonyan For Development & Trade SAE and National Printing Co., while Morocco saw the listing of Vicenne S.A., signaling growing regional diversification. 

Gregory Hughes, EY-Parthenon MENA IPO leader, noted that “with lower oil prices, we continue to see economic diversification from non-oil revenues, and the sector focus in ֱ has shifted from healthcare and mobility to real estate, hospitality, construction, and retail.”  

Looking ahead, the pipeline for the fourth quarter of 2025 and beyond remains robust, with 19 entities across various sectors preparing to list.

ֱ leads with 13 planned listings, including Almasar Alshamil Education Co. and Al Romansiah Co., both of which have secured Capital Market Authority approval. In the UAE, ALEC Holdings PJSC debuted on the Dubai Financial Market in October. 

Outside the Gulf Cooperation Council, Algeria’s Diar Dzair and Morocco’s Gharb Papier Et Carton SA are awaiting regulatory approvals for planned IPOs. 

The outlook is supported by positive policy momentum, diversified investor interest, and increasing integration of environmental, social, and governance principles. 

Meanwhile, regulatory environments across the region continue to evolve.

In the UAE, updated governance reforms now permit the combination of board chair and CEO roles under specific conditions, while in ֱ, the Capital Market Authority has launched consultations on changes to market-making rules and foreign ownership limits aimed at enhancing liquidity and accessibility. 


PIF and JLL forge strategic partnership to boost Saudi real estate sector

PIF and JLL forge strategic partnership to boost Saudi real estate sector
Updated 31 October 2025

PIF and JLL forge strategic partnership to boost Saudi real estate sector

PIF and JLL forge strategic partnership to boost Saudi real estate sector

RIYADH: ֱ’s sovereign wealth fund has entered into a strategic partnership with global real estate firm Jones Lang LaSalle, in a significant move set to reshape the Kingdom’s urban landscape.

According to a press release, the Public Investment Fund and JLL signed a memorandum of understanding at the final day of the Future Investment Initiative conference in Riyadh, formalizing a collaboration aimed at driving innovation and increasing efficiency within the Kingdom’s booming real estate industry.

“Through this MoU, PIF and JLL will combine their expertise to spur innovation and increase efficiency in the industry, supporting Vision 2030’s goals to diversify the domestic economy and enhance the quality of life nationwide,” the press release said.

By combining PIF’s transformative national projects with JLL’s global expertise, the partnership seeks to accelerate the development of a sophisticated and sustainable real estate ecosystem.

The statement added that the MoU is set to strengthen collaboration in important areas such as market insights, valuation and project management. “It will lead to greater private sector participation, develop local talent, and accelerate the adoption of new technologies to help achieve sustainable real estate growth,” said the press release.

The agreement was signed by Saad Alkroud, head of the Local Real Estate Investment Division at PIF, and Sue Asprey Price, EMEA CEO and global head of Portfolio Services, Work Dynamics at JLL.

For PIF, this partnership is a key component of its local real estate strategy, which is focused on driving economic transformation, advancing urban innovation, and enhancing the quality of life for citizens and residents. 

The sovereign wealth fund is the driving force behind the development of the Kingdom’s transformative giga-projects and other landmark real estate initiatives.

JLL is a Fortune 500 company with over 200 years of history in commercial real estate and investment management.