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Uber's Economic Impact Report reveals the company contributed SAR 1.1 billion to Saudi Arabia's economy over the past decade, enhancing mobility and supporting local businesses. In 2023, drivers earned an additional SAR 270 million, with 42% earning more than alternatives, while the platform generated SAR 500 million for tourism. Initiatives like Wusool have provided over 20 million subsidised rides for women, aligning with the Kingdom's Vision 2030 goals.
Egypt emerged as the leading investment destination in the Arab world in 2024, attracting nearly USD 30 billion across 122 projects, which accounts for about a third of the region's total foreign investment. The UAE was the largest investor with almost USD 12 billion, followed by the US at USD 10.3 billion. Most investments were concentrated in oil, gas, and renewable energy sectors.
The GCC real estate sector experienced a remarkable surge in 2024, with transactions exceeding $383 billion, marking a 25% annual increase. Dubai dominated the market, accounting for 54% of transactions, while Saudi Arabia followed with $75.7 billion. Population growth, particularly among expatriates, is driving demand, with urban populations expected to rise significantly by 2030.
Saudi Arabia's Vision 2030 is transforming its financial landscape, with capital markets playing a vital role in funding investments and attracting global investors. The Kingdom raised $274 billion over five years, with significant growth in liquidity and foreign participation expected due to regulatory reforms. Sovereign wealth funds are pivotal in enhancing market depth and investor confidence, while private credit markets are emerging as alternatives for small and medium-sized enterprises.
Saudi Arabia is positioning itself as a global leader in artificial intelligence (AI) through significant investments, including over $7.4 billion announced at the Leap 2025 summit. Key initiatives like Project Transcendence, with a budget of $100 billion, aim to enhance AI infrastructure and attract top talent, while partnerships with global tech giants like Google focus on developing Arabic-language AI models. This strategic push is integral to the Kingdom's Vision 2030 plan, aimed at diversifying its economy and establishing a sustainable, knowledge-based future.
Global markets are poised for significant shifts in 2025, driven by central bank policy changes and geopolitical risks. The US is expected to lead growth at 3.3% GDP, while the eurozone lags. Emerging markets, particularly India, show promise despite inflation concerns. Investors are advised to focus on developed markets and sectors like AI and technology, while navigating potential disruptions from protectionist policies and financial stability challenges.
Tunisia's leading second-hand fashion marketplace, Dabchy, has secured pre-Series A funding led by Janngo Capital and angel investors, aiming to expand into Egypt and enhance its platform. Founded in 2016, Dabchy promotes circular fashion in the MENA region, simplifying the resale of pre-owned clothing and catering to a growing user base. The investment will support broader product offerings and improved user experience, positioning Dabchy at the forefront of sustainable e-commerce.
The Saudi Social Development Bank (SDB) has increased its financing portfolio for gaming and tech from SAR 300 million to SAR 458 million, marking a 53% growth. This initiative supports over 30 clients in the gaming sector and includes significant agreements with companies like Lobah Digital and Virtual Reality Solutions.Additionally, SDB's collaboration with the National Technology Development Program has expanded its tech financing to SAR 898 million, with new contracts aimed at fostering innovation. Partnerships with Microsoft and Informatica will enhance SDB's digital infrastructure and operational efficiency.
Riyadh-based startup Leajlak has secured SAR 10 million ($2.6 million) in seed funding from angel investors to enhance its AI-powered platform that connects merchants with logistics providers, focusing on last-mile delivery. The company plans to expand geographically within Saudi Arabia and enter new sectors like e-commerce and modern retail, while aiming to lead digital transformation in the delivery sector in line with Saudi Vision 2030. Founded in early 2023 by Khalid Albakry, Ahmed Rashid, and Haseeb Rahman, Leajlak is poised to capitalize on the booming delivery market driven by the growing e-commerce landscape.
Vast Menu, a Saudi startup focused on NFC and QR code technologies, has raised SAR 5 million (USD 1.33 million) in a pre-seed funding round led by Mr Mandoob. The funding was announced during LEAP 2025, where the startup showcased its innovative solutions for restaurants and cafés, enabling seamless transactions and menu management without the need for applications.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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