Saudi-based Kingdom Holding Company has announced that it has acquired a stake in US-based Breakthrough Energy Ventures (BEV), a key investor in innovative clean-energy and sustainability technologies, from Prince Alwaleed bin Talal bin Abdulaziz AlSaud for SAR255 million ($68 million).
The eight OPEC+ countries, namely the UAE, Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, have announced an adjustment to oil production levels, reaffirming their joint commitment to supporting stability in global oil markets, said a report.
Saudi Arabia's National Shipping Company Bahri has delivered solid results for the first quarter of 2026 with a 129% growth in its revenue which soared to SAR4.96 billion ($1.32 billion) driven primarily by higher freight rates, while its net profit surged to hit SAR2.15 billion ($572 million).
Cloudsdcs, a global enterprise cloud and cybersecurity specialist with over 20 years of experience, has announced its expansion into Saudi Arabia with support from AstroLabs, the Gulf’s premier business setup and growth platform.
The GCC projects market experienced a slowdown in the first quarter due to the Middle East conflict with the total value of contracts plunging 9.7% to $61.2 billion, according to a report. This contraction was driven largely by a substantial downturn in contract awards within Saudi Arabia and UAE.
Saudi-based First Avenue for Real Estate Development Company has signed an addendum to its contract with Asas Makeen Real Estate for a key residential project in Al Hada District. Following the completion of the detailed designs and technical specifications, the project cost has been set at SAR86 million ($22.9 million).
Saudi-based Rawasi Al Bina Investment Company has signed a framework agreement with Saudi Energy Company for the execution of installation, replacement and maintenance works related to low- and medium-voltage overhead and underground distribution networks in the Qassim region.
Hassan Allam Holding and AlBawani Holding have announced that their joint venture has been awarded a SAR1.84 billion ($490 million) to construct the Saudi Arabia Museum of Contemporary Art (SAMoCA), one of the most prominent cultural and iconic projects within the Diriyah development plan.
Saudi Intermaint, a leading contractor delivering construction, fabrication and maintenance services for heavy industry across the Gulf, has secured its first EPC contract for a cement mill project. The scope of work includes engineering and execution capabilities at the plant.
Saudi Arabia’s three major residential markets – Riyadh, Jeddah and Dammam – delivered contrasting performances in 2025, said an expert. Jeddah emerged the top performer with record sales of SAR36.6 billion ($9.75 billion) followed by Dammam while in capital Riyadh, elevated financing costs led to a decline in buyer activity.
