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Saudi Arabia's banking sector is experiencing a fintech boom, with a twentyfold increase in startups since 2018 and SAR 5 billion in new ventures in 2023. To maintain competitiveness, banks are increasingly adopting the venture studio model, which allows for efficient innovation, strategic control, and minimized risks, enabling them to nurture new ideas while preserving brand integrity. This approach aligns with the country's ambition to become a fintech powerhouse by 2030, as regulators support digital transformation and banks seek to balance investment and agility.
Saudi Arabia's banking sector is experiencing a fintech boom, with a twentyfold increase in startups since 2018 and SAR 5 billion in new ventures in 2023. To maintain competitiveness, banks are increasingly adopting the venture studio model, which allows for efficient innovation and strategic control while minimizing risks. This approach enables banks to nurture new ideas independently, aligning with their long-term objectives in a rapidly evolving market.
Saudi Arabia's total bank credit reached a record SAR 3 trillion by January 2025, marking a 15% annual growth and an increase of SAR 348.2 billion from January 2024. Monthly growth was 2%, with credit supporting over 17 economic activities and contributing to the goals of Saudi Vision 2030. Additionally, deposits rose by SAR 40 billion during the same period.
Saudi Arabia's total bank credit reached a record SAR 3 trillion by January 2025, marking a 15% annual growth and an increase of SAR 348.2 billion from January 2024. Monthly growth was 2%, with credit supporting over 17 economic activities aligned with Saudi Vision 2030. Additionally, deposits rose by SAR 40 billion.
Impact46 has successfully sold its entire stake in Rasan Information Technology Company for SAR 918 million through an Accelerated Bookbuild Offering, comprising 13,296,836 shares, or 17.16% of Rasan’s capital. This strategic exit aligns with Impact46's focus on high-growth companies and enhances Rasan's stock liquidity and shareholder diversity, positioning it for future growth. The transaction reflects strong interest from institutional investors, underscoring Rasan's market position and operational excellence.
Saudi Arabia's residential real estate market is poised for a significant boost, with private buyers expected to invest SR4.58 billion ($1.22 billion) this year, particularly in mega-development projects like NEOM. Despite NEOM's initial popularity, interest has waned, with higher-income groups favoring exclusive projects like the Red Sea Project and King Salman Park. ROSHN has emerged as a leading developer, with its SEDRA project in Riyadh being the most sought-after, reflecting a growing demand for affordable, integrated community living.
Saudi Arabia's seaports experienced an 18.25% increase in non-oil exports in February 2025, with 215,491 TEUs exported compared to 182,229 TEUs the previous year. Despite a 4.95% drop in imports and a 3.66% decline in total cargo tonnage, passenger traffic surged by 37.85%, reaching 93,400. Ongoing investments in logistics and port expansions, including a SAR 3 billion upgrade at Jeddah Islamic Port, are enhancing the Kingdom's economic position globally.
Saudi Arabia's seaports experienced an 18.25% increase in exports in February 2025, with 215,491 TEUs shipped compared to 182,229 TEUs the previous year, reflecting strong demand for non-oil products. However, imports fell by 4.95%, leading to an overall decline in total cargo tonnage by 3.66%. Passenger traffic surged by 37.85%, and vehicle handling rose by 3.43%, while maritime traffic saw a slight increase. Major investments in port infrastructure, including a SAR 3 billion expansion at Jeddah Islamic Port, are set to enhance the Kingdom's logistics capabilities.
Saudi Arabia's Space Agency has signed a memorandum of understanding with the Korean Aerospace Administration to enhance collaboration in the space sector, focusing on deep space technologies, satellite launches, and advanced applications. This partnership aligns with the Kingdom's Vision 2030 goals, aiming to boost its space economy and international cooperation.In related developments, Madinah's logistics services sector grew by 54% year-on-year in 2024, supported by robust infrastructure and rising consumer spending. The region's economy is thriving, with significant growth in tourism, technology, and commercial activities, reinforcing its status as a key investment hub.
Saudi Arabia's startup ecosystem is thriving, with five startups achieving unicorn status and 35 more on the verge, driven by government initiatives under Vision 2030. Key programs like the Tomooh Program and the Billion-Dollar Companies Incentive Program are facilitating access to funding, mentorship, and international market opportunities, reinforcing the nation's position as a regional innovation hub.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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