º£½ÇÖ±²¥

º£½ÇÖ±²¥ opens June round of Sah savings sukuk with 4.76% return  

Organized by the National Debt Management Center under the Ministry of Finance, Sah is the Kingdom’s first savings-focused sukuk designed for individual investors.    
Organized by the National Debt Management Center under the Ministry of Finance, Sah is the Kingdom’s first savings-focused sukuk designed for individual investors.    
Short Url
Updated 01 June 2025

º£½ÇÖ±²¥ opens June round of Sah savings sukuk with 4.76% return  

º£½ÇÖ±²¥ opens June round of Sah savings sukuk with 4.76% return  
  • Sah is Kingdom’s first savings-focused sukuk designed for individual investors
  • Bonds structured for one-year term with fixed returns, profits to be paid at maturity

RIYADH: º£½ÇÖ±²¥ has opened the June subscription window for its savings sukuk product “Sah,†offering a return rate of 4.76 percent, as part of its 2025 issuance calendar.    

Organized by the National Debt Management Center under the Ministry of Finance, Sah is the Kingdom’s first savings-focused sukuk designed for individual investors.    

The Shariah-compliant, riyal-denominated product is part of the local bonds program aimed at fostering financial inclusion and increasing personal savings.    

The June issuance opened for subscription from 10 a.m. on Sunday, June 1, until 3 p.m. on Tuesday, June 3.    

The bonds are structured for a one-year term with fixed returns, and profits will be paid at maturity.    

The minimum subscription is set at one bond with a value of SR1,000 ($266.56), while the maximum subscription per investor is capped at SR200,000.    

The product aligns with the Financial Sector Development Program under Saudi Vision 2030, which targets raising the national savings rate from 6 percent to 10 percent by 2030.    

The June issuance of Sah offers a slightly higher return compared to May, rising to 4.76 percent from the previous month’s 4.66 percent, reflecting marginal shifts in market conditions.    

While both issuances maintain the same structure — Shariah-compliant, riyal-denominated sukuk with a one-year maturity and fixed returns — the June window opened slightly earlier in the month, running from June 1 to June 3, compared to May’s window from May 4 to May 6.   

Subscription terms remain unchanged, with a minimum investment of SR1,000 and a cap of SR200,000 per individual.    

Both offerings are accessible through the same network of approved financial institutions.   

Sah is promoted as a secure, fee-free savings instrument offering stable, government-backed returns.    

Eligible investors must be Saudi nationals aged 18 and above and must subscribe through approved platforms provided by SNB Capital, Aljazira Capital, and Alinma Investment, as well as SAB Invest, or Al-Rajhi Capital.    

The sukuk is issued monthly, and the return rate for each tranche is determined based on prevailing market conditions.   

NDMC CEO Hani Al-Medaini said in March that the sukuk serves as a catalyst for private sector cooperation and participation in developing and launching various savings products tailored to diverse demographics.    

These initiatives could involve partnerships with banks, fund managers, financial technology companies, and more. 


º£½ÇÖ±²¥â€™s first ultra-luxury train ‘Dream of the Desert’ unveiled at FII9

º£½ÇÖ±²¥â€™s first ultra-luxury train ‘Dream of the Desert’ unveiled at FII9
Updated 58 min 29 sec ago

º£½ÇÖ±²¥â€™s first ultra-luxury train ‘Dream of the Desert’ unveiled at FII9

º£½ÇÖ±²¥â€™s first ultra-luxury train ‘Dream of the Desert’ unveiled at FII9

RIYADH: Luxury train tourism in º£½ÇÖ±²¥ took another step forward as the Kingdom unveiled the design mock-up of its first ultra-luxury rail service, Dream of the Desert, at the Future Investment Initiative in Riyadh. 

The showcase marks a new milestone for the project, previously announced by Italy’s Arsenale Group in collaboration with º£½ÇÖ±²¥ Railways. The Ministry of Transport and Logistic Services, and the Transport General Authority, are also part of the project, as well as the Ministry of Culture, and the Saudi Tourism Authority, according to a press release. 

The service, slated to launch in late 2026, is part of the Kingdom’s broader push to expand high-end tourism offerings under Vision 2030.   

Paolo Barletta, CEO of Arsenale, said: “Dream of the Desert is a moving masterpiece born from the dialogue between Italian craftsmanship and Saudi vision.â€

He added: “It marks the beginning of a new global platform redefining ultra-luxury travel – one that celebrates heritage, creativity, and a deep respect for local identity while carrying the world’s most discerning travellers through the heart of º£½ÇÖ±²¥â€™s landscapes and traditions.†

The train will feature 31 private suites and two presidential suites, accommodating a maximum of 66 guests. The train’s interiors will draw inspiration from the Saudi landscape, featuring desert-inspired hues, rich wood carvings, and custom Murano glass lighting that evokes traditional oriental lanterns. 

Guests will have access to two restaurant cars offering a choice between authentic local cuisine and international menus with Italian fusion influences, all curated to a Michelin-level standard. A central Majlis lounge will provide a space for socializing and relaxation. 

Saleh bin Nasser Al-Jasser, º£½ÇÖ±²¥â€™s minister of transport and logistics services and chairman of º£½ÇÖ±²¥ Railways, said the unveiling of the luxury train underscores the remarkable transformation of the Kingdom’s railway sector and its progress toward offering world-class travel experiences. 

He added that the project stems from the National Transport and Logistics Strategy, which aims to introduce modern, tourism-focused transport options that enhance quality of life.  

Al-Jasser also noted that the initiative reflects rising foreign investment in the Kingdom’s transport and logistics ecosystem, supported by leading international partners. 

The inaugural journeys, lasting one to two nights, will depart from Riyadh and traverse approximately 1,300 km of existing railway lines.


Tokyo governor to showcase city’s innovation at Riyadh’s FII 2025

Tokyo governor to showcase city’s innovation at Riyadh’s FII 2025
Updated 27 October 2025

Tokyo governor to showcase city’s innovation at Riyadh’s FII 2025

Tokyo governor to showcase city’s innovation at Riyadh’s FII 2025

TOKYO: Tokyo Gov. Koike Yuriko will join the Future Investment Initiative in Riyadh on Tuesday as she embarks on a tour taking her to º£½ÇÖ±²¥, the UAE, Kuwait and Egypt.

The trip aims to highlight the Japanese capital’s dynamic appeal, while also offering the governor the chance to explore a region she believes is flourishing with new investment opportunities.

She will attend the FII’s ninth edition to present Tokyo’s initiatives to establish itself as a leading hub for innovation and finance in Asia.

Koike also hopes to develop meaningful connections and foster a sense of shared prosperity and mutual gain for both Tokyo and the Arab nations.

She arrived in the UAE’s Abu Dhabi on Sunday and attended the 2025 Asia-Pacific Cities Summit and Mayors’ Forum, which runs from Oct. 27-29 and is hosted by Expo City Dubai at the Dubai Exhibition Centre.

Koike was a key speaker on Monday at the forum, which is held under the patronage of Crown Prince of Dubai and UAE Deputy Prime Minister and Minister of Defense Sheikh Hamdan bin Mohammed bin Rashid Al-Maktoum.

More than 150 mayors, leaders and speakers from over 300 cities around the world were invited to the summit.

Koike’s itinerary also includes Jeddah, Kuwait City, and Giza in Egypt. The importance of this trip is underlined by her participation in international conferences, speeches and discussions with governments and non-profit foundations.

“This region is currently attracting global attention for its economic growth and investment opportunities,†the governor told Arab News Japan. “Through this trip, I will work to enhance Tokyo’s presence as a leading global city, while applying the insights gained from international urban collaboration with the administration of the Tokyo Metropolitan Government.â€

Koike will be accompanied by Takahashi Yoichi, the renowned manga artist behind Captain Tsubasa (known as Captain Majid in the Arab region). He will contribute to the cultural exchange aspect of the trip, using his influence and art to bridge cultural gaps and foster understanding between Japan and the Arab region.

The tour will include º£½ÇÖ±²¥â€™s second-largest city, Jeddah, when the governor will exchange ideas with local government officials.

“Together, we will explore opportunities for inter-city collaboration in areas such as economic and industrial development,†she said, emphasizing the potential for mutual growth and collaboration.

Koike will arrive in Kuwait on Oct. 29, where she will meet with government officials to discuss tackling common challenges across industries, startups and women’s empowerment.

“We aim to exchange perspectives on potential future collaboration between our cities and within international networks, fostering partnerships among cities committed to sustainable growth,†she said.

The governor often visits Cairo, where she attended university, and this year marks the 35th anniversary of the friendship city agreement between the Cairo governorate and the Japanese capital.

“At the invitation of the Egyptian government, I am honored to attend the opening ceremony of the Grand Egyptian Museum in Giza,†Koike said. “I hope the cultural programs and other events featured in the ceremony will serve as an inspiration for advancing Tokyo’s initiatives.â€

She added: “To all my dear friends across the Arab region, thank you so much for the generous invitations to take part in such meaningful meetings and visits. Throughout human history, this region has been buffeted by the storms of civilization, weathering the rise and fall of empires and dynasties. As a result, I believe it has cultivated a rich diversity of cultures and a profound wisdom for navigating change — qualities that are truly exceptional among world regions.

“While studying at university in Egypt, I encountered a different culture and learned the importance of embracing differences. That experience has been a great source of strength as I have faced various challenges as governor. The Arab people are dear friends to me, and I believe this visit will further deepen the bonds between Tokyo and the Arab world.â€

The governor’s tour, which began on Oct 26, will end on Nov. 3 when she heads back to Tokyo.


Jeddah offering ‘significant investor opportunities’ across retail, hospitality: JLL

Jeddah offering ‘significant investor opportunities’ across retail, hospitality: JLL
Updated 27 October 2025

Jeddah offering ‘significant investor opportunities’ across retail, hospitality: JLL

Jeddah offering ‘significant investor opportunities’ across retail, hospitality: JLL

RIYADH: Jeddah’s real estate pipeline is surging with 310,000 sq. meters of retail space rolled out this year, together with 1,000 new branded residential units and over 30,000 more hotel keys by 2030, according to JLL.

Speaking at its annual roundtable in Jeddah, the global real estate firm said the city’s expanding pipeline — spanning residential, hospitality, and mixed-use projects — underscores its growing role in º£½ÇÖ±²¥â€™s Vision 2030 agenda.

JLL said the development pipeline reflects broader national progress, particularly in Riyadh, which accounts for over $1.2 trillion in total project value, with contract awards projected to reach about $569 billion by the end of 2025, citing MEED Projects data. 

Saud Al-Sulaimani, country lead and head of Capital Markets at JLL º£½ÇÖ±²¥, said: “Jeddah is pivotal to º£½ÇÖ±²¥â€™s Vision 2030, offering significant investor opportunities.† 

He added that national priorities are pivoting, aligning projects with objectives and fostering private sector collaboration, alongside evolving PIF delivery structures. 

“These strategic shifts and evolving market fundamentals are crucial for long-term market stabilization and will drive a focus on premium assets,†Al-Sulaimani said, adding that easing construction costs is fundamentally reshaping the market. 

The firm noted that branded residences — once tied mainly to hospitality — are increasingly co-developed with lifestyle, automotive, and fashion brands. The segment’s supply is expected to rise from 400 units to 1,400.

Faris Maqdah, director of Strategic Consulting at JLL, said: â€œJeddah’s branded residential sector is experiencing notable development, with around 1,000 branded residential units planned for delivery by 2030.†

He added: “Market interest in these developments continues to evolve, with success dependent on developers delivering the right product-price combination that balances quality and service standards with affordability considerations.†

Retail expansion is also on the rise, with 310,000 sq. meters of new gross leasable area expected in 2025 — an increase of more than 10 percent from current stock. 

These developments are increasingly integrated into mixed-use projects that cater to evolving consumer preferences.  

“The retail landscape is also undergoing significant transformation, driven by consumer demand for convenience and integrated lifestyle offerings,†Maqdah added.  

“These developments present compelling opportunities for developers and investors to meet Jeddah’s evolving demographic preferences and activate new micro-clusters that enhance the end-user experience,†he added. 

Hospitality growth remains strong, with a 6 percent compound annual growth rate from 2020 to 2025.  

According to Sarah Gasim, senior vice president and head of hotels at JLL º£½ÇÖ±²¥, the upcoming FIFA World Cup 2034 — where º£½ÇÖ±²¥ is the confirmed host — is expected to further accelerate development.  

“Strategic preparations are already underway, with lessons drawn from the Qatar World Cup’s impact on regional infrastructure and hospitality sectors,†she noted. 

JLL also highlighted the city’s resilient office market, where tight supply of Grade A space continues to support rental growth and drive a “flight to quality.†


Closing Bell: Saudi main index rises to close at 11,619


Closing Bell: Saudi main index rises to close at 11,619

Updated 27 October 2025

Closing Bell: Saudi main index rises to close at 11,619


Closing Bell: Saudi main index rises to close at 11,619


RIYADH: º£½ÇÖ±²¥â€™s Tadawul All Share Index gained 26.37 points, or 0.23 percent, on Monday to close at 11,619.82, with total trading turnover reaching SR5.35 billion ($1.42 billion). Of the stocks, 100 advanced while 150 retreated.

In contrast, the Kingdom’s parallel market, Nomu, fell 216.48 points, or 0.86 percent, to close at 24,822.88, with 37 stocks rising and 47 declining. The MSCI Tadawul Index rose 3.06 points, or 0.2 percent, to finish at 1,511.49.

Rasan Information Technology Co. was the day’s best performer, jumping 6.39 percent to SR109.90. The company also reported interim results for the nine months ending Sept. 30, posting a net profit of SR157.3 million, up 186 percent from the same period last year.

The increase was driven by strong revenue growth, higher gross and operating margins, improved operational efficiency, and optimized contract-related procedures.

Other top performers included Saudi Kayan Petrochemical Co., which rose 5.69 percent to SR6.13 despite reporting a net loss of SR1.6 billion for the first nine months, widening from SR1.1 billion a year earlier due to lower average selling prices, and Maharah Human Resources Co., which gained 5.07 percent to SR5.60.

Among the biggest decliners, Saudi Industrial Development Co. fell 3.04 percent to SR33.20, while Alkhorayef Water and Power Technologies Co. lost 2.91 percent to SR150.00, and LIVA Insurance Co. dropped 2.82 percent to SR13.79.

Meanwhile, Saudi Ceramic Co. reported a net profit of SR140 million for the first nine months of 2025, a 1,414 percent increase from the same period last year, largely due to an insurance compensation of SR120 million and a SR55.7 million rise in gross profit supported by higher sales and improved margins. Despite this, the stock ended the session slightly lower at SR31.30, down 0.39 percent.


FII9 a ‘turning point’ as tech and global leaders converge in Riyadh, says event chairman

FII9 a ‘turning point’ as tech and global leaders converge in Riyadh, says event chairman
Updated 27 October 2025

FII9 a ‘turning point’ as tech and global leaders converge in Riyadh, says event chairman

FII9 a ‘turning point’ as tech and global leaders converge in Riyadh, says event chairman

RIYADH: The ninth Future Investment Initiative marks a “turning point†in global innovation focus with technology leaders set to make up over half of speakers at the event in the Saudi capital.

In an interview with CNBC, Richard Attias, chairman of the FII Institute’s executive committee, said this year’s conference represents a major shift as a range of sectors seek to get to grips with the impact of artificial intelligence.

Launched in 2017, the Future Investment Initiative — often referred to as “Davos in the Desert†— has become a key platform for º£½ÇÖ±²¥ to showcase its economic diversification strategy under Vision 2030.

This year’s event, running from Oct. 27 to 30, brings together global policymakers, investors, and corporate leaders to discuss trends shaping the world economy and explore partnerships across emerging industries. 

“FII9 is a turning point,†Attias told CNBC, adding: â€œThis year, 52 percent of our speakers are coming from the tech industry. It is showing you the importance, of course, of AI, but not only AI, innovation in general, because all sectors in all industries are impacted by technology now.†

Attias highlighted three defining factors for this year’s edition: the dominance of technology, the presence of more than 20 world leaders and 50 ministers representing 90 countries, and the event’s growing reputation as one of the most inclusive platforms for international collaboration.  

“This will be a fantastic platform for public private partnership,†Attias added, emphasizing that such collaboration is “probably one of the solutions of all the major issues that the global economy is facing.†

Attias called FII “probably the most inclusive platform in the world,†noting the presence of delegates from rival nations such as Russia and Ukraine, along with the US, China, and strong participation from the Global South and young entrepreneurs. 

“Riyadh is becoming the economic capital of the world, at least for the week,†Attias said, noting that FII has expanded from a three-day conference into a full week of events, with attendees arriving prior to the event and to capitalize on the opportunities within the Kingdom. 

The scale of activity, he admitted, is a “good problem to have,†but requires a “navigator†to manage the countless meetings and sectors on display.

He pointed to º£½ÇÖ±²¥â€™s Vision 2030, stating it is no longer a future plan but a reality “in motion,†encompassing sectors from sport and entertainment to food security, tourism, energy, and infrastructure. 

Attias stressed that FII has moved beyond symbolic memorandums of understanding. “Real deals are happening. Very concrete deals are signed,†he added in the interview. 

He linked this spirit of optimism and action to the institute’s resilience, recalling that FII was among the few major conferences held during the COVID-19 pandemic in 2020. This mindset, he said, reflects the FII Institute’s mission of creating an “impact on humanity.†

This year’s event has attracted 9,000 delegates from nearly 100 countries, including participation from all Gulf Cooperation Council sovereign wealth funds. Attias said that by bringing together these funds with private equity firms, banks, financial institutions, and global CEOs, FII has created the “perfect equation†for driving global investment and collaboration.