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Opening a Corporate Business Bank Account in Saudi Arabia: A Step-by-Step Guide Introduction For foreign companies, opening a business bank account in Saudi Arabia might seem challenging. However, with the right partner, such as Al Taasis, the process can be smooth and straightforward. Understanding the regulations and requirements set by the Central Bank of Saudi Arabia (SAMA) is essential. This article will guide you through the step-by-step process of opening a corporate bank account in Saudi Arabia and explain how Al Taasis can assist you. Leading Banks in Saudi Arabia Saudi Arabia is home to 31 banks licensed by the Saudi Arabian Monetary Authority (SAMA), comprising 11 local banks and 20 branches of foreign banks. Major local banks include Saudi National Bank, Al Rajhi Bank, and Samba Financial Group. International banks with branches in Saudi Arabia include Emirates NBD, First Abu Dhabi Bank, Deutsche Bank, HSBC, Standard Chartered Bank, BNP Paribas, and the Industrial and Commercial Bank of China. Al Taasis is well-versed in the specific requirements of these banks and can help you choose the one that best suits your business needs. Necessary Documents for Establishing a Saudi Business Bank Account The first step in opening a corporate bank account in Saudi Arabia is gathering the necessary documents. These include: A copy of the investment license issued by the Ministry of Investment (MISA) Registered National Address in Saudi Arabia Articles of Association (AoA) of the parent company General Manager’s authorization to open and manage the bank account Articles of Association (AoA) of the local company ID copy (residence permit card/Iqama) of the General Manager A copy of the company’s board resolution, signed by all directors A copy of the company’s business license issued by the Ministry of Commerce and Investment (MCI) A copy of the passport or ID of the company’s directors and shareholders Al Taasis will assist you in obtaining the MISA investment license and National Address registration, and help arrange all the necessary documents for opening your bank account. Four Simple Steps to Opening a  Business Bank Account in Saudi Arabia  1.Select the Suitable Bank After gathering the required documents, choose a bank that meets your company’s needs. Research each bank’s fees, services, and requirements before deciding. Al Taasis can help you select the most suitable bank based on your requirements. 2.Submit the Documents Once you have chosen a bank, submit the necessary documents for review. The bank’s compliance department will ensure everything is in order and conduct a background check on the company and its directors. 3.Sign the Agreements After the bank is satisfied with the documents, you will need to sign the necessary agreements, including the terms and conditions of the account and the bank’s compliance policies. 4.Fund the Account Finally, fund the account by transferring money from another bank account or depositing cash. Once the account is funded, the bank will provide you with the necessary information and documentation to access the account. Additional Tips for a Smooth Process Plan Ahead: Start gathering the necessary documents and understanding the requirements well in advance to avoid any last-minute hassles. Seek Professional Help: Utilize the expertise of professionals like Al Taasis to navigate the process efficiently. Stay Updated: Keep abreast of any changes in regulations or requirements by regularly checking updates from SAMA and Open Your Business Bank Account in KSA with Al Taasis Opening a business bank account in Saudi Arabia requires a thorough understanding of the regulations and requirements set by the Central Bank of Saudi Arabia. Banks in Saudi Arabia will open an account if the required documents are submitted and specific conditions are met. The process requires patience and persistence, but with the right approach and a trusted partner, it is achievable. Al Taasis is your reliable business partner, offering corporate solutions for all your business needs. With our assistance, you can smoothly open your bank account and operate your business compliantly. Why Choose Al Taasis? Expertise: With extensive experience in the Saudi Arabian market, we understand the banking system and regulatory environment. Personalized Service: We offer tailored solutions to meet your specific business needs, ensuring a seamless experience. Comprehensive Support: From document preparation to bank selection and account funding, we provide end-to-end support throughout the process. Partner with Al Taasis to open a corporate bank account and ensure your business operations in Saudi Arabia are set up for success. Start your Saudi business journey now! Subscribe to Our Newsletter! Enter your email to receive our monthly newsletter. Popular Articles Opening Digital Business Account with Wio Bank Saudi Arabia’s Economic Cities KSA, an Irresistible Attraction for Tourists Government Entities and Online Portals Dealing with Import and Selling in Saudi Arabia: SFDA, SASO, SABER and FASAH Business Licenses Offered by MISA to Foreign Investors Visa Types in Saudi Arabia No posts found

Saudi Business Incorporation Journey: Blog Series Our Client’s Construction Business Setup Story in Saudi Arabia Welcome to our latest series, Saudi Business Incorporation Journey, where we share real stories of how businesses have successfully expanded into the Saudi market with our help. Today, we are excited to tell you about a client who came to us from Pakistan, looking to set up their construction business in Saudi Arabia. Client’s Background We have extensive experience in setting up businesses for clients from across the globe, who belong to diverse nationalities and have their own requirements and mindsets. This client, a well-established construction company from Pakistan, has been in the market for over 15 years. With a strong presence in the UAE as well, they were eager to expand their footprint into Saudi Arabia. The company was experienced and successful in its home and neighboring markets, but the intricacies of the Saudi market were unexplored territory for them. Initial Consultation The journey began when they reached out to us through our main line. They were clear about their requirements: they needed a local team to help them navigate the Saudi market, and they wanted the process to be as quick and seamless as possible. Understanding their urgency and the need for a local presence, we quickly set up a meeting at our office to discuss their needs in detail. Building Client’s Trust During our meeting, we shared our proposal, highlighting how our streamlined, one-stop-shop process could meet all their needs. We emphasized our deep local knowledge and extensive experience in the Saudi market. This assurance was crucial in convincing them that we were the right partner for their expansion. They were particularly impressed by our local presence and our comprehensive approach, which meant they wouldn’t need to look elsewhere for any part of the process. Tailoring the Solution Once they decided to move forward with us, we began by ensuring they had all the necessary documentation. We asked them to provide a copy of their trade license/business license to verify it was at least one year old, a requirement for foreign nationals in Saudi Arabia. We then tailored our services to fit their specific needs, including obtaining a Service License under the Ministry of Investment Saudi Arabia (MISA), commercial registration, Chamber of Commerce (COC) registration, portals activation, national address registration, and assistance with the General Manager’s visa (Iqama) and bank account opening. Overcoming Challenges As with any incorporation process, there were delays beyond our control, particularly from government authorities. However, we kept our client in the loop at every stage, ensuring they were well-informed and reassured throughout the process. Our proactive communication helped maintain their confidence in our services. Our team’s dedication to transparent and continuous updates was key to sustaining their trust and satisfaction. Ongoing Assistance and Services Once the incorporation was complete, our support didn’t end there. We offered a retainer package that included HR support services, Wage Protection System (WPS) compliance, recruitment services, assistance with obtaining extra work visas (residency cards/Iqama) for their employees, and more. Our goal was to provide ongoing support to ensure their smooth operation in Saudi Arabia. Networking and Expansion Understanding that the client was unfamiliar with the Saudi market, we shared tips and strategies for effective networking and approaching government contracts. Our local insights and connections proved invaluable to them, helping them establish a strong foothold in the market. Our support proved invaluable, enabling them to expand their business confidently and effectively within Saudi Arabia. Continuing Support and Growth Our relationship with the client didn’t stop at incorporation. We continue to support them as they grow their business in Saudi Arabia. We regularly check in to see if they need any further assistance, whether it’s in networking, financial management, bookkeeping, tax management, or license renewal. Their positive feedback is a testament to the success of our comprehensive support and services. Quality is Remembered Long After the Price is Forgotten In the end, the client was delighted with our services. They appreciated our streamlined process, local expertise, and the fact that they didn’t have to look elsewhere for any of their business setup needs. Their successful expansion into the Saudi market is a proud achievement for both them and our team. Stay tuned for more stories in our Saudi Business Incorporation Journey series, where we will continue to share the experiences and successes of businesses expanding into this vibrant market. We hope you found this journey as inspiring as we did. If you are considering expanding your business into Saudi Arabia, reach out to us – we would be thrilled to help you make your next big move. Contact us to know more about the prerequisites of your business journey. Subscribe to Our Newsletter! Enter your email to receive our monthly newsletter. Popular Articles Opening Digital Business Account with Wio Bank Saudi Arabia’s Economic Cities KSA, an Irresistible Attraction for Tourists Government Entities and Online Portals Dealing with Import and Selling in Saudi Arabia: SFDA, SASO, SABER and FASAH Business Licenses Offered by MISA to Foreign Investors Visa Types in Saudi Arabia No posts found

Saudi Arabia’s Mining Sector: Opportunities and Incentives for Investors Introduction Strategic Investments and Global Aspirations Vision 2030: A New Era for Mining in Saudi Arabia Mining Investment Law in Saudi Arabia Saudi Arabia’s Rich Mineral Reserves Incentives for Investors in the Mining Sector Obtain Your Mining License in Saudi Arabia Introduction Saudi Arabia, traditionally known for its vast oil reserves, is positioning itself as a key player in the global mining sector. With the world’s economies in a race to secure critical mineral resources, the Kingdom is accelerating its efforts to explore and mine key minerals within its borders and extend its reach globally. This strategic shift could transform Saudi Arabia into a central mineral supply chain figure, essential for the green transition and technological advancements worldwide. Strategic Investments and Global Aspirations In a significant move, Saudi Arabia’s Public Investment Fund and the state mining company Ma’aden have launched Manara Minerals, a venture to acquire global mining assets. This initiative is part of a broader strategy to capitalise on the Kingdom’s mineral wealth and become an international hub for green minerals processing. Such ambitions place Saudi Arabia on the map as a significant player in the mining industry, with potential impacts far beyond its borders. Vision 2030: A New Era for Mining in Saudi Arabia At the heart of Saudi Arabia’s mining expansion is the Vision 2030 reform agenda, which aims to diversify the nation’s economy and reduce its oil dependence. The agenda elevates the mining sector as a critical economic pillar, aligning with the National Industrial Development and Logistics Program. This focus is driven by the understanding that minerals are crucial for industries essential to achieving Vision 2030’s objectives, including the green transition, digitisation of the economy, and enhancement of technological connectivity. Officials in the Kingdom are setting ambitious targets, aiming to boost the mining sector’s contribution to the GDP from $17 billion to $75 billion by 2030. This growth is expected to generate thousands of high-value jobs, significantly reduce mineral imports, and enhance the competitiveness of Saudi industries that rely on these minerals. Mining Investment Law in Saudi Arabia The Saudi Mining Investment Law, introduced as a cornerstone of the Kingdom’s efforts to attract international investment and diversify its economy away from oil, represents a significant reform of the mining regulatory framework. This law is designed to streamline the licensing process, offering greater transparency and efficiency to investors looking to tap into Saudi Arabia’s vast mineral resources. It provides a more attractive and competitive investment environment by offering incentives such as reduced royalty rates for certain minerals, extended license durations, and assurances on the security of tenure. The law also emphasises environmental sustainability and social responsibility in mining operations, aligning with global best practices and Saudi Arabia’s Vision 2030 goals. By creating a more investor-friendly landscape, the Saudi Mining Investment Law aims to unlock the Kingdom’s mineral wealth potential, positioning Saudi Arabia as a leading player in the global mining industry and paving the way for significant economic contributions from this sector. Saudi Arabia’s Rich Mineral Reserves Saudi Arabia’s mineral wealth is tremendous, with over 48 minerals identified, including significant reserves of marble, granite, gold, copper, iron, aluminum, and steel. The Kingdom boasts gold reserves exceeding 100 million ounces and an estimated total mineral wealth of $2.5 trillion. With plans to attract nearly $200 billion in mining sector investments by 2030, Saudi Arabia is positioning itself as an increasingly important global metals hub. Jeddah, in particular, with its high metal consumption, efficient transport network, and operational standards, is becoming a focal point for new mining warehouses and operations. Incentives for Investors in the Mining Sector In collaboration with the Ministry of Investment, the Saudi Ministry of Industry and Mineral Resources has introduced an incentive package worth approximately $182 million to attract investment in mining exploration. This package aims to reduce risks for exploration companies in their initial stages and foster investment in the sector. The government’s commitment to supporting companies prioritising local talent and expertise underscores its dedication to sustainable development within the mining industry. Investors can benefit from comprehensive financial support for mineral resource exploration, with each exploration license eligible for up to SR7.5 million in support. Furthermore, companies may qualify for support for up to 15 licenses, subject to program terms and conditions. Obtain Your Mining License in Saudi Arabia Saudi Arabia embarks on an ambitious journey to become a mining powerhouse. Its strategic investments, rich mineral reserves, and investor-friendly policies signal a new era of economic diversification and international influence. The Kingdom’s mining sector is set to play a crucial role in the global supply chain of critical minerals, underpinning technological and green transitions worldwide. Saudi Arabia is rapidly becoming a land of opportunity for investors and companies in the mining industry, promising growth, innovation, and sustainable development. Securing a mining license in Saudi Arabia is critical for investors looking to tap into the Kingdom’s vast mineral resources. Al Taasis is here to guide you through the licensing process, ensuring you can capitalise on the opportunities presented by Saudi Arabia’s flourishing mining sector. Contact us to know more about the prerequisites of your business journey. Subscribe to Our Newsletter! Enter your email to receive our monthly newsletter. Popular Articles Opening Digital Business Account with Wio Bank Saudi Arabia’s Economic Cities KSA, an Irresistible Attraction for Tourists Government Entities and Online Portals Dealing with Import and Selling in Saudi Arabia: SFDA, SASO, SABER and FASAH Business Licenses Offered by MISA to Foreign Investors Visa Types in Saudi Arabia No posts found

Saudi Arabia’s Tax Rules for Regional Headquarters (RHQ) Introduction Eligible Entities and Tax Incentives Scope of Eligibility Compliance and Substance Requirements Penalties for Non-Compliance Conclusion Introduction In an ambitious move to strengthen its position as a global business hub, Saudi Arabia has rolled out the red carpet for multinational companies by introducing the Regional Headquarters (RHQ) program. This strategic initiative showcases the Kingdom’s commitment to fostering a pro-business environment and supports its vision to diversify its economy beyond oil. Saudi Arabia has introduced a pioneering framework to bolster its position as a hub for multinational corporations. Through the Regional Headquarters (RHQ) Tax Rules, the Kingdom has set the stage for an enticing financial environment for global businesses.  By offering a 30-year tax relief on qualifying income, Saudi Arabia aims to attract and retain the world’s leading corporations, ensuring they benefit from an unparalleled fiscal advantage. Furthermore, the RHQ program is complemented by the opportunity to obtain premium residency, providing a compelling blend of financial incentives and lifestyle benefits. This combination of long-term tax incentives and residency options vividly illustrates the government’s dedication to supporting multinational corporations, reinforcing Saudi Arabia’s status as a destination of choice for business expansion in the Middle East. Eligible Entities and Tax Incentives The tax rules formulated by the Zakat, Tax, and Customs Authority (ZATCA) are at the heart of this initiative. RHQs must meet specific criteria to qualify, emphasizing the Kingdom’s goal to attract entities that contribute significantly to economic diversification. The primary attraction lies in the substantial tax incentives offered: A zero percent corporate income tax on income derived from eligible activities. A zero percent withholding tax on various payments to non-resident entities, including dividends and payments for services linked to the RHQ’s operations. These incentives are not merely short-term lures but are extended for a generous period of 30 years, with the possibility of renewal. This long-term commitment underscores Saudi Arabia’s dedication to fostering a stable and attractive investment climate. Scope of Eligibility To ensure clarity and focus, the ZATCA has outlined what constitutes an RHQ and the activities it must engage in to benefit from these incentives. An RHQ is defined as a unit of a multinational group established in Saudi Arabia that provides strategic supervision, administrative guidance, and support within the region. The classification of eligible activities is precise, aiming to meaningfully enhance the multinational group’s regional presence. Compliance and Substance Requirements Eligibility for these incentives comes with compliance and substance requirements to ensure that the RHQs contribute tangibly to the Saudi economy. These include: Holding a valid license for the sanctioned activities. Maintaining adequate business premises within the Kingdom. Managing strategic activities locally, including the hosting of significant meetings. Ensuring operational expenditures within the Kingdom align with the RHQ’s activities. Employing a skilled workforce that meets the qualifications necessary for the RHQ’s operations. Furthermore, adherence to the Kingdom’s tax laws, including registration with ZATCA and maintaining accurate financial records, is mandatory. These measures aim to uphold the integrity of the financial incentives while promoting economic substance within the Kingdom. Penalties for Non-Compliance To safeguard the framework’s objectives, penalties are in place for non-compliance. These range from financial penalties—starting at SAR 100,000 and potentially escalating to SAR 400,000 for repeated violations—to the revocation of tax incentives. Such measures underscore the seriousness with which Saudi Arabia approaches the governance of these incentives. Conclusion The RHQ tax rules represent a significant step by Saudi Arabia to cement its status as a premier destination for multinational corporations looking to expand their footprint in the Middle East. The Kingdom is setting a new standard for economic development and investment attraction by offering compelling tax incentives while ensuring compliance and substance. These regulations offer multinational corporations a clear path to benefiting from Saudi Arabia’s strategic location, robust infrastructure, and commitment to economic innovation. Contact us to know more about the prerequisites of your business journey. Subscribe to Our Newsletter! Enter your email to receive our monthly newsletter. Popular Articles Opening Digital Business Account with Wio Bank Saudi Arabia’s Economic Cities KSA, an Irresistible Attraction for Tourists Government Entities and Online Portals Dealing with Import and Selling in Saudi Arabia: SFDA, SASO, SABER and FASAH Business Licenses Offered by MISA to Foreign Investors Visa Types in Saudi Arabia No posts found

Saudi Beauty and Personal Care Industry: Trends, Regulations, and Market Insights Introduction Overview of the Saudi Beauty and Personal Care Industry Key Drivers of Growth in the Saudi Beauty and Personal Care Industry Compliance Guidelines for Cosmetic Businesses in Saudi Arabia Start Your Saudi Business Journey with Al Taasis Introduction The beauty and personal care industry in the Middle East and Africa (MEA) has witnessed significant growth recently, with Saudi Arabia becoming a pivotal player in this surge. The country has always been known for its considerable interest in beauty, which has seen impressive growth in the past few years. According to a report from the Chalhoub Group, Saudi consumers are now the top spenders on beauty products in the Middle East. Furthermore, projections by Mordor Intelligence suggest that the MEA region’s beauty and personal care market could reach $28.30 billion by 2028. Saudi Arabia’s beauty sector is an emerging market filled with opportunities for extensive development. It is experiencing rapid growth, especially in the luxury, beauty, and fashion segments, making it one of the quickest-growing markets in the GCC. Overview of the Saudi Beauty and Personal Care Industry The beauty and personal care industry in Saudi Arabia encompasses a broad spectrum of products and services to enhance personal grooming, hygiene, and aesthetics. This market includes various categories such as skincare, haircare, oral care, cosmetics, and fragrances, offering everything from daily essentials to luxury items designed to improve personal appearance, maintain hygiene, and boost overall well-being. A notable segment within this industry is the Personal Care e-commerce market, which focuses on the online commercial (B2C) sale of shower and bath products (like shampoos and shower gels), cosmetics (such as makeup, mascaras, and nail care), hygiene products (including feminine hygiene products and toilet paper), and more. This segment highlights the growing trend towards digital shopping in the beauty and personal care space. Saudi women, mainly, are highly engaged in the beauty market, especially in using makeup and fragrances, drawing much of their inspiration from social media platforms. Eye products, such as eyeshadow and mascara, are of significant importance in their beauty routines, with sales indexing at 71 and 83 per cent, respectively, over a three-month period in 2023. Additionally, there’s an increasing demand for halal beauty products, reflecting the desire of Muslim women to engage more fully in society while adhering to their faith-based needs. Regarding market size, the Beauty & Personal Care market in Saudi Arabia reported a revenue of US$5.95 billion in 2024, with projections indicating an annual growth rate of 4.22% from 2024 to 2028. The largest segment within this market is Personal Care, which alone is expected to generate a market volume of US$2.67 billion in 2024. Moreover, online sales are anticipated to represent 18.5% of the total market revenue by 2024, underscoring the significant role of e-commerce in the industry’s future growth. Beauty and Personal Care Market Segmentation By Product Type Skincare (facial care, body care, sun care) Haircare (shampoo, conditioner, styling products) Oral Care (toothpaste, mouthwash, dental accessories) Cosmetics (makeup, nail care, colour cosmetics) Fragrances (perfumes, colognes, body mists) By Gender Type Male Female By Distribution Channel Supermarkets and Hypermarkets Specialty Stores Online Retail Others (Department Stores, Beauty Salons, Pharmacies) By Price Range Mass Market Premium and Luxury Key Drivers of Growth in the Saudi Beauty and Personal Care Industry The Beauty & Personal Care industry is experiencing unprecedented growth, primarily fueled by the Cosmetics and Skin Care categories. This surge is attributed to a generational influx of young consumers whose purchasing behaviours are being reshaped by global trends, social media, and e-commerce, leading to a diversified daily beauty regimen. Youthful Population: A significant portion of the population, over half, is under 30 years old, with Gen-Z playing a pivotal role in escalating demand. This demographic is particularly interested in incorporating a broad range of skincare, haircare, and makeup products into their grooming routines E-Commerce Revolution: The digital transformation, especially the e-commerce and social media boom, has made beauty products more accessible than ever. Online platforms offer a vast array of products, competitive prices, and personalized shopping experiences, which are a major driver behind the industry’s growth. Influence of Social Media: Social media has become a key player in influencing beauty trends and consumer preferences. It provides a platform for easy access to diverse products and trends, significantly enhancing brand visibility and educating consumers about the industry. Trending Natural and Organic Products: There’s an increasing consumer shift towards natural and organic beauty and personal care products in Saudi Arabia. This trend is motivated by health awareness, environmental concerns, and a preference for products devoid of harmful chemicals. Evolving Standards of Beauty: Changing societal norms and evolving beauty standards significantly influence consumer preferences. There’s a noticeable demand for products that accentuate natural beauty, promote diversity, and embrace inclusivity, reflecting the changing landscape of the beauty and personal care market. Compliance Guidelines for Cosmetic Businesses in Saudi Arabia A thorough knowledge of Saudi Arabia’s cosmetic regulations is essential for companies aiming to prosper in this thriving market. Working with regulatory experts and keeping abreast of the latest requirements can help businesses achieve smooth market entry and ensure sustained compliance within the fast-evolving Saudi cosmetics sector. SFDA Registration: The Saudi Food and Drug Authority (SFDA) mandates the registration of all cosmetic products before they enter the Saudi market. This process requires submitting comprehensive product details, including formulation and safety information. Adherence to SFDA standards is vital for legal market presence. Ingredient Guidelines: Saudi regulations restrict or ban certain cosmetic ingredients due to health risks or cultural sensitivities. Companies must align their product formulations with the SFDA’s approved ingredient list to ensure regulatory compliance and consumer safety. Labelling Standards: Product labels in Saudi Arabia must include essential details in Arabic, such as the product name, usage instructions, and safety warnings, ensuring clarity and compliance with SFDA labelling requirements. Halal Certification: While not obligatory, Halal certification can boost consumer confidence and marketability of cosmetics in Saudi Arabia. Companies should

Riyadh Expo 2030: The Era of Global Change and Visionary Future Introduction Key Information on Riyadh Expo 2030 Economic Impact of Riyadh Expo 2030 Cultural Impact of Riyadh Expo 2030 World Expo 2030: The Beacon of Change Introduction World Expos stand as grand events where nations from across the globe unite to address pressing global issues. Originating with the inaugural World Fair in London in 1851 and extending to the recent Expo 2020 in Dubai, these expos have drawn in millions of attendees, sparked numerous groundbreaking innovations, and established enduring legacies that have significantly impacted both the physical and social fabric, aiming to fulfil human ambitions sustainably. At their core, World Expos facilitate significant growth opportunities across various sectors, including finance, construction, tourism, transport, consumer goods, and media, thanks to their extensive scale and ambitious goals. Additionally, these events often result in the creation of lasting physical landmarks, such as Expo City Dubai, enhancing their host cities’ landscapes. Key Information on Riyadh Expo 2030 The Expo 2030 will occur from October 2030 to March 2031 in a state-of-the-art city in North Riyadh, covering an expansive area of over 600 hectares. This includes 3.38 million square meters allocated for interactive experiences and an additional 2.62 million for essential amenities and support facilities. The event is set to host 246 participants, comprising country pavilions, international organizations, and other non-official entities. The logo for Expo 2030 Riyadh is symbolized by six palm fronds, each signifying different themes: heritage, science, technology, nature, architecture, and the arts, intricately designed in various colours and forms. Palm fronds, a familiar sight across various regions of Saudi Arabia, embody the essence of the Expo’s identity. Demonstrating its commitment to making the Expo a landmark event, the Saudi government has earmarked a substantial $7.8 billion budget for its execution, underscoring the event’s role as a pivotal platform for showcasing global advancements and cooperation. Highlighted sectors for significant attention include construction materials, banking, aviation, transportation, real estate, housing, communications, logistics, retail, hotels, hospitality, and tourism. Economic Impact of Riyadh Expo 2030 The Saudi economy is set for significant growth spurred by the opportunities presented by Expo 2030. Aligning with the government’s strategy to reduce its oil dependence, the Expo is anticipated to establish Saudi Arabia as a leading international centre for trade, travel, and commerce. The total projected economic impact of Riyadh Expo 2030 on Saudi Arabia, as measured by gross value added, is an impressive SAR355 billion ($94.5 billion). It marks a 19% boost to the country’s estimated non-oil GDP for 2023, with a sustained annual impact of 0.75% projected over the following 25 years, according to insights from Al Rajhi Capital Research. With expectations of 246 participants and 40 million site visits during its six-month duration, the Expo is poised to be a pivotal event. This event is expected to catalyze a surge in infrastructure spending, increasing the demand for construction materials and corporate loans. Consequently, the financial sector is anticipated to experience a significant uptick in loan growth due to increased corporate borrowing. The tourism industry, too, stands to gain as hotel room rates increase with higher occupancy rates. The Expo is also expected to facilitate the addition of new hotel keys to accommodate the influx of visitors. Additionally, the need for enhanced marketing efforts to promote the event is likely to boost the advertising sector. The transportation and mobility sectors are also set to benefit from increased cargo volumes and visitor numbers, further buoyed by the event. Tourism: Millions of visitors will rejuvenate the tourism sector, leading to job creation, infrastructure improvements, and a spotlight on Saudi Arabia’s rich cultural heritage and natural beauty. Hospitality: This sector is expected to see a spike in demand, benefiting hotels, restaurants, and transport services, encouraging job growth and increasing revenues. Construction: The Expo will drive extensive construction work, boosting demand for materials, equipment, and labour and contributing to economic expansion. Technology: As a showcase for the latest technological innovations, the Expo will promote innovation, attract foreign investment in tech, facilitate knowledge exchange, and support economic development. Cultural Impact of Riyadh Expo 2030 The Riyadh Expo 2030 is influential not just for its economic and tourism benefits but also for its cultural impact. It reflects the quick changes in Saudi society, encouraging a more open attitude towards diverse cultures and beliefs. This shift towards a more welcoming and adaptable Saudi identity moves away from previous perceptions of being closed off. The sense of pride and confidence among Saudis is noticeable, especially after Riyadh was chosen to host the Expo 2030. This moment highlighted the country’s desire to share its rich culture and advancements with the rest of the world, challenging old stereotypes of a secluded society. Hosting the Expo is a significant opportunity for Saudi Arabia to showcase its cultural richness and diversity to visitors from around the globe. It’s about presenting what’s unique about Saudi Arabia — its traditions, people, and youth — and partnering in progress. This cultural exchange is a key part of the Expo, showing the Saudi government’s understanding of the importance of cultural diplomacy to connect with different peoples and nations beyond traditional means. World Expo 2030: The Beacon of Change The successful bid for the Expo highlights Saudi Arabia’s commitment to innovation and its ambitious outlook for a prosperous future. It would significantly raise Saudi Arabia’s profile globally, enhancing its prestige and international exposure. This opportunity allows the country to showcase its cultural heritage, historical achievements, technological innovations, and futuristic goals. Such visibility is expected to increase tourism, draw international enterprises, and stimulate foreign investments. The World Expo 2030 aims to act as a catalyst for transformation, guiding Saudi Arabia towards a more diverse, sustainable, and knowledge-oriented economy. The effects of the Expo will go beyond economic advancements, encouraging cultural interactions, fostering international collaborations, and boosting national pride. Contact us to know more about the prerequisites of your business journey. Subscribe to Our Newsletter! Enter your email to receive our monthly newsletter. Popular

Saudi Food Sector: Cloud Kitchen Business in Saudi Arabia Introduction What is Cloud Kitchen Saudi Cloud Kitchen Market Overview Advantages of Setting Up a Cloud Kitchen in Saudi Arabia How to Set Up Your Cloud Kitchen in Saudi Arabia Start Your Cloud Kitchen Business in Saudi Arabia Introduction The cloud kitchen business is revolutionizing the food service industry in Saudi Arabia, offering a unique blend of convenience and innovation to meet the evolving demands of consumers. As the Kingdom embraces digital transformation across various sectors, the cloud kitchen model has emerged as a key player in the Saudi food sector, driven by the growing popularity of online food delivery services. This introduction to the cloud kitchen business in Saudi Arabia explores the economic, technological, and consumer trends propelling this industry forward, highlighting its potential to reshape the culinary landscape and offer entrepreneurs and investors lucrative opportunities in a rapidly expanding market. Read our blog to learn more about food business: Start Your Food Business in Saudi Arabia with Al Taasis What is Cloud Kitchen? A cloud kitchen operates from a commercial kitchen designed exclusively for preparing meals for delivery or takeaway, eliminating the need for a dine-in area. These kitchens offer restaurateurs a cost-effective way to grow their business or launch a new virtual brand. It opens up possibilities for scaling up, venturing into new markets, or experimenting with fresh concepts. Cloud kitchens serve as a testing ground for many restaurants, allowing them to use staff and resources while exploring innovative ideas efficiently. Cloud kitchen business models vary widely, catering to different operational needs and strategic goals: Shared Space Model: The shared space model allows restaurant operators to prepare dine-at-home meals using their own staff and ingredients within a kitchen owned by another party. This arrangement, often shared with other businesses, reduces the costs of running a traditional restaurant. Dedicated Space Model: In the dedicated space model, a brand rents or buys a kitchen for its exclusive use. This setup enables them to explore multiple concepts from one location without the involvement of other brands. Saudi Cloud Kitchen Market Overview Saudi Arabia is poised for a significant expansion in cloud kitchens, fueled by the growth of its food sector and the anticipation of hosting numerous international events, attracting an influx of tourists and opening new avenues for growth. The global delivery industry is expected to hit the $154 billion milestone by next year, largely driven by the surge in on-demand food services. The cloud kitchen market in Saudi Arabia, valued at $157.0 million in 2020, is projected to reach $335.7 million by 2030, growing at a CAGR of 7.7% from 2021 to 2030. The market is segmented by type into independent kitchens, commissary/shared kitchens, and kitchen pods. Product type includes offerings such as burgers/sandwiches, pizza/pasta, chicken, seafood, and Mexican/Asian food, among others. Additionally, the market is classified by nature into franchised and standalone operations. Market Segmentation Details Kitchen Type Independent Cloud Kitchen Commissary/Shared Kitchen Kitchenpods Product Type Burger/Sandwich Pizza/Pasta Chicken Seafood Mexican/Asian Food Others Nature Franchised Standalone Advantages of Setting Up a Cloud Kitchen in Saudi Arabia Launching a business is faster and more cost-effective with virtual customer interactions. This approach significantly reduces equipment costs and legal paperwork and allows entrepreneurs to begin sales almost immediately. It also offers the chance to pilot a product before investing in a food truck or a physical restaurant. Cloud kitchens provide several advantages: Flexibility in Menu Changes: Operating online allows for easy menu adjustments in response to fluctuating ingredient prices or availability without the need to update physical signage or printed menus. Reduced Financial Burden: Ghost kitchens cut out many of the costly aspects of traditional restaurants, such as decor, signage, dinnerware, and the need for a large staff, including servers and hosts. Room for Experimentation: They offer a low-risk environment for trying new food concepts, allowing for quick discontinuation of ideas that don’t resonate, with minimal financial loss. Operational Efficiency: Cloud kitchens are designed for delivery, enabling more streamlined operations. Running multiple brands from a single kitchen allows for batching ingredients across different menus, enhancing efficiency. Direct Access to Customer Insights: The digital nature of cloud kitchens facilitates direct engagement with customers throughout their journey, from discovery to order fulfilment. This access to customer data aids in refining processes, menu offerings, and staff scheduling based on consumer behaviour. Marketing through Third-party Apps: Virtual brands can quickly gain visibility through delivery apps, bypassing the need for extensive independent marketing efforts. How to Set Up Your Cloud Kitchen in Saudi Arabia Starting a cloud kitchen in Saudi Arabia is an excellent business opportunity as the Kingdom’s food delivery market is rapidly growing. Remember, the key to success in the food delivery industry is great food, service, and a strong online presence. Here’s a simple guide to setting up your cloud kitchen in Saudi Arabia. Understand the Market: Begin by researching the local food market. Identify popular cuisines, target demographics, and delivery areas with high demand but low service. This will help you tailor your menu and services. Develop a Business Plan: Craft a comprehensive business plan that outlines your business model, menu, pricing strategy, and marketing plan. Consider how you will differentiate your cloud kitchen from competitors. Obtain Necessary Licenses: In Saudi Arabia, you must secure several licenses to operate a cloud kitchen. Al Taasis can help you get through the licensing process smoothly. This includes a MISA license, commercial registration from the Ministry of Commerce, a municipality license, and a food safety license from the Saudi Food and Drug Authority (SFDA). Ensure you comply with all local regulations and standards. Find a Location: Select a location based on your target delivery areas. Consider industrial or peripheral areas with lower rents since customer footfall is irrelevant for a cloud kitchen. Kitchen Layout and Equipment: Design your kitchen for efficiency and safety. Invest in high-quality kitchen equipment and technology that can streamline your operations, such as an order management system. Adopt a POS System:

NEOM in Saudi Arabia: What’s Inside it? Overview Introduction to NEOM The Line Trojena Epicon Siranna Leyja Aquellum Sindalah Oxagon Utamo Norlana Zardun Why Invest in NEOM Start Your Saudi Business Journey with Al Taasis Overview Located in the Arabian Peninsula, Saudi Arabia is the world’s preeminent oil producer. The Saudi government seeks to diversify its economic base beyond this sector. This effort includes the introduction of Saudi Vision 2030 and the development of economic cities. The government has initiated the construction of new urban centres in various locations throughout the country to attract foreign investors worldwide. In January 2024, Saudi authorities broadened the scope of the Premium Residency Permit program. This expansion now includes new categories of expatriates, such as property owners and investors, eligible for extended residency in the country. NEOM, a key project in this initiative, promises exceptional living conditions and economic opportunities. This project aims to lead the way in several vital sectors: energy, food, media, water, mobility, tourism, sport, education, and others. NEOM is envisioned as a state-of-the-art city, aiming to become a global hub for innovative breakthroughs and a model for sustainable living. It encompasses a range of subprojects, including residential, industrial, tourism, commercial, and renewable energy developments, all within a single expansive area Introduction to NEOM NEOM, combining Greek and Arabic for “new future,” is a bold new city project by Saudi Arabia. Planned in the northwest of the country, it aims to make the economy less dependent on oil and more diverse. The project has caught the world’s attention because it promises to be sustainable and full of new ideas, with 11 unique areas. Neom Bay Airport now has international flights to and from big cities like Dubai, Doha, and London, connecting it to global business and travel networks. The NEOM project is set to make Saudi Arabia an essential place for innovation and trade by bringing in new industries and technologies. This will help grow local businesses, create jobs, and increase the country’s income. NEOM is expected to be the home and workplace for over a million people worldwide. It will have residential areas, ports, business zones, research centres, and places for sports, entertainment, and tourists to visit. Originally thought to cost $500 billion, the budget for NEOM has been updated. The first part of the project is now set to cost about $319 billion, with the Saudi government’s investment fund paying for half of it. The Line The Line is a new part of the NEOM project that Saudi Arabia’s government introduced. It’s a long, 170-km city development stretching from the mountains and valleys in the northwest of Saudi Arabia to the Red Sea coast. The Line is unique, only 200 meters wide, and it’s trying out a new way of city living. It will have two parallel tall, mirror-covered walls, with space inside for buildings, parks, schools, homes, and workplaces. The plan is to fit 9 million people into 34 square kilometres. Trojena Trojena, known as “The Mountains of NEOM” and situated 50km from the Gulf of Aqaba, is a key part of NEOM’s development. It’s a place where winter brings sub-zero temperatures, making it perfect for Trojena’s 36 km of ski slopes and various outdoor activities. Beyond sports, the area will offer 42,000 square meters of shops and places to eat, plus more than 3,000 rooms in hotels and serviced apartments. Trojena caught the world’s eye when it was chosen to host the 2029 Asian Winter Games. The region’s layout is the work of LAVA architects, including a plan for a 330-meter-tall tower designed by Zaha Hadid Architects. Epicon Epicon, located along the northern coastline of Saudi Arabia, is designed to offer visitors a unique experience of exploration and luxury. As the newest addition to NEOM’s range of tourism spots, Epicon will showcase high-end homes, beachfront villas, and resort amenities. Highlighting the property are two impressive towers, one standing at 225 meters and the other at 275 meters tall, offering 41-key hotels and residential spaces to provide a retreat from daily pressures. Siranna Siranna is set as a vacation destination in Northwest Saudi Arabia. This development is at the intersection of innovation, sustainability, and luxury, strongly emphasising environmental conservation and minimal ecological footprint. The unveiled architectural designs are inspired by the natural landscape, seeking to blend seamlessly with the surrounding mountains and wadis. This aligns with NEOM’s overarching aim to craft spaces that are both luxurious and in harmony with nature. Leyja Leyja, within NEOM, presents a master plan centred around three hotels, each crafted by internationally celebrated architects. Originally a pristine valley surrounded by mountains soaring 400 meters high, Leyja’s development includes a remarkable hotel by Chris van Duijn, a hotel with a reflective exterior designed by Shaun Killa, and a hotel that rises vertically as the rock faces around it by Mario Cucinella. Leyja is committed to conserving its natural beauty, planning to leave 95% of its terrain undisturbed and employing eco-conscious construction methods that harmonise with its surroundings. Aquellum Aquellum is the latest reveal from NEOM, positioned as a mountain retreat that marries innovation with nature. This development is tucked away along the Gulf of Aqaba, hidden within mountains reaching 450 meters. Aquellum aims to redefine conventional building practices, notably by introducing the world’s first floating marina. This marina is designed to move through a hidden underground canal, making the entire master plan a journey of sensory exploration. Sindalah Sindalah marks NEOM’s first step into island resort development near The Line on the Red Sea. Poised to be the earliest completion among NEOM’s diverse areas, Sindalah offers a bridge to the Mediterranean allure with its beach club, yacht club, spa, wellness facilities, hotels, and a large marina. This destination is crafted to provide a luxurious experience throughout the year, developed by the renowned Italian studio Luca Dini Design and Architecture and featuring three substantial hotels. Sindalah aspires to become NEOM’s leading luxury island and yacht club destination, setting a high standard for future developments.

Saudi Arabia’s Premium Residency: An Irresistible Attraction for Global Investors and Talents Introduction Special Talent Residency in Saudi Arabia Real Estate Residency in Saudi Arabia Gifted Residency in Saudi Arabia Investor Residency in Saudi Arabia Entrepreneur Residency in Saudi Arabia Saudi Premium Residency Benefits Obtain Your Premium Residency in Saudi Arabia with Al Taasis Introduction In 2019, Saudi Arabia initiated a premium residency system with two main options: a lifetime residency for SR800,000 ($213,000) and a yearly renewable residency for SR100,000 ($26,000). Recently, the system has been broadened to include five additional categories: special talent, gifted, investor, entrepreneur, and real estate owner, making a total of seven categories. This expansion aligns with Saudi Arabia’s Vision 2030, a plan focused on attracting skilled individuals to boost economic growth. Over the last six years, Saudi Arabia has seen a significant increase in foreign investment, growing from SR27 billion in 2017 to SR122 billion in the previous year. The enhanced residency program is expected to play a crucial role in increasing foreign direct investment’s share of the GDP from 3.8% to 5.7%, furthering the Kingdom’s ambitious economic objectives. Special Talent Residency in Saudi Arabia Saudi Arabia’s five-year special talent residency is designed for top-tier healthcare, science, and research professionals, aiming to attract individuals with unique skills that can enhance technology and knowledge exchange in the Kingdom. Applicants must meet specific criteria based on their professional field and income to be eligible. Healthcare and science professionals interested in this residency must earn a minimum monthly income of SAR35,000. Researchers are required to have a monthly salary of at least SAR14,000. For executives aiming for special talent status, it’s essential to have an executive-level employment contract with a monthly income exceeding SAR80,000. Applicants must also hold a Bachelor’s degree or higher and have an approved employment contract. This initiative targets high-level professionals, drawing expertise that can significantly contribute to Saudi Arabia’s evolving sectors. Real Estate Residency in Saudi Arabia The Real Estate Residency option in Saudi Arabia is tailored for individuals owning residential property in the country valued at SAR 4 million or above, with the key condition being that the property must be free from any current or future mortgages. This residency offers a high-quality lifestyle and opens up profitable investment opportunities in the Saudi real estate market. The duration of this residency is directly linked to the period of property ownership. Applicants must own a residential real estate asset worth at least SAR4 million without any associated real estate financing to qualify. The property must be developed and habitable, ruling out undeveloped or unimproved land. Furthermore, the property must be independently appraised and verified by accredited valuers from Saudi Arabia’s Taqeem authority. The residency status conferred through this plan is intrinsically tied to the ownership or usufruct of the property, emphasizing the Kingdom’s focus on attracting stable and long-term investments in its real estate sector. Gifted Residency in Saudi Arabia The Gifted Residency in Saudi Arabia is a specialized five-year program divided into two distinct categories aimed at integrating talented individuals into the country’s cultural and sports sectors. This residency is designed for those who have either been nominated for or have received recognition from the Saudi Ministry of Culture and the Ministry of Sports. In the first category, applicants must be either nominees or recipients of awards sanctioned by these ministries. Alternatively, they must satisfy specific eligibility criteria set by the same authorities. A key aspect of this residency is the emphasis on financial solvency, ensuring that applicants are economically stable. This initiative reflects Saudi Arabia’s commitment to enriching its cultural and sports landscapes by attracting and retaining individuals with exceptional talents in these fields. The program is structured to encourage the participation of gifted professionals, offering them a pathway to contribute to the Kingdom’s dynamic cultural and sporting environment. Investor Residency in Saudi Arabia Saudi Arabia offers a unique opportunity for investors through its Investor Residency program. This initiative is tailored for those looking to invest in the country’s growing economy. To qualify, applicants must invest a substantial amount of SAR7 million and are expected to create at least ten jobs within the first two years of their application. The process involves obtaining an investment license, which is a green light for conducting business in Saudi Arabia. Additionally, applicants need to provide essential business documents such as a commercial register and articles of incorporation. This program is a strategic move by Saudi Arabia to attract significant investments and create jobs, contributing to the Kingdom’s economic development. It’s an appealing option for investors seeking to become permanent residents and expand their business ventures in the Kingdom. Entrepreneur Residency in Saudi Arabia The Entrepreneur Residency program in Saudi Arabia offers two distinct categories for ambitious business founders. Both categories are designed to encourage entrepreneurial activity in Saudi Arabia, attracting individuals ready to invest, create jobs, and contribute to the Kingdom’s economic growth. The first category offers a five-year residency, which can be renewed for another term as long as certain conditions are met. Entrepreneurs must spend at least 30 months in Saudi Arabia within those five years and secure a minimum investment of SR400,000 from an accredited source. Additionally, they should own at least a 20% stake in their startup. The second category provides permanent residency right away but with different requirements. Entrepreneurs must create at least ten jobs in the first year and maintain or exceed this number in the second year. A significant investment of at least SR15 million is necessary, and the entrepreneur must hold a minimum of a 10% share in their business venture. Saudi Premium Residency Benefits Introducing five new premium residency categories in Saudi Arabia brings a wealth of opportunities for professionals and investors. This initiative is part of the Kingdom’s goal to establish itself as a leading destination for talent and investment, in line with its vision for a diverse, knowledge-based economy. Premium residents are offered a comprehensive environment to live, work, and contribute to

Top 5 Business Sectors in Saudi Arabia in 2024 Introduction Construction Tourism Information and Communication Technologies (ICT) Sports Food and Beverage Start Your Profitable Business in Saudi Arabia Introduction Saudi Arabia’s economy has reached a significant milestone, crossing the $1 trillion GDP mark for the first time in its 91-year history, ranking it as the 19th country globally to achieve this feat. The World Bank forecasts that Saudi Arabia’s GDP will grow by 4.1% in 2024, driven mainly by sectors other than oil. The Kingdom also leads venture capital fundraising in the MENA region, with Saudi startups raising $1.4 billion in 2023. This amount represents a 33% increase from the previous year, accounting for over half of the venture capital funding in the Middle East and North Africa. Launched by Saudi Arabia in 2016, Vision 2030 is a groundbreaking strategy to transform the country’s economic landscape. This vision aims to shift the Kingdom’s focus away from its traditional oil dependence by the end of this decade. Key components of Vision 2030 include diversifying into new sectors and enhancing infrastructure, healthcare, and education. The Kingdom’s inclusion in the BRICS group opens new economic opportunities and diversification paths. The development of the India Middle East Europe Economic Corridor (IMEC) coincides with Saudi Arabia’s efforts to expand its international trade, creating new business channels with other countries. This move is part of a broader strategy to strengthen and diversify Saudi Arabia’s economy beyond oil reliance. Construction Saudi Arabia’s construction industry is rapidly growing with new trends and ambitious projects. It’s now one of the fastest-growing construction markets in the world. The Saudi construction market is expected to be worth USD 70.33 billion in 2024 and is projected to increase to USD 91.36 billion by 2029. This growth, at a rate of 5.37% annually from 2024 to 2029, is driven by Riyadh’s Vision 2030. This plan aims to diversify and privatize the country’s large economy and includes significant projects like Neom Future Cities, Qiddiya Entertainment City, and the Red Sea Project. Saudi Arabia offers the most construction opportunities in the region. This growing market is an excellent chance for foreign companies to get involved and help build Saudi Arabia’s future. One key project is The Line, a smart city initiative started in 2020 near Riyadh as part of NEOM. NEOM is in the northwestern region of Saudi Arabia and includes smart cities and towns, ports, business hubs, research centres, sports and entertainment venues, and tourist attractions. The construction market is segmented into the following sectors: Commercial Construction Industrial Construction Infrastructure Construction Energy and Utilities Construction Institutional Construction Residential Construction Tourism Travel, tourism, and entertainment are key sectors in Saudi Arabia’s Vision 2030. Over the past three years, Saudi Arabia has issued more than 3,500 tourism investment licenses, signalling a robust expansion in its tourism sector. Backed by government efforts to improve the business climate and ease travel, the sector is set for significant growth. Initially aiming to attract 100 million visitors by 2030, the Kingdom has now raised its target to 150 million following a surge in tourism. In the first nine months of 2023, Saudi Arabia saw record spending by foreign tourists, leading the G20 nations in tourist growth rate. Additionally, it ranks second globally as the fastest-growing tourist destination. To support this growth, Saudi Arabia has implemented an Instant E-Visa system for travellers from 49 countries, allowing visits of up to 90 continuous days. Further bolstering the tourism industry are regulatory changes, including the new “Visiting Investor” visa. Vision 2030 is at the forefront of enhancing the tourism and leisure sectors by creating world-class attractions, streamlining visa processes, and developing historical and heritage sites. The upcoming World Expo 2030 in Riyadh is anticipated to boost tourism significantly. Besides this, Saudi Arabia is set to host several major global events. These include the Federation for Equestrian Sports World Cup Finals in 2024, the 2025 Asian Indoor & Martial Arts Games, the Asian Football Confederation’s Asian Cup in 2027, the Asian Summer Games in 2034, and the 2034 FIFA World Cup. These events position Saudi Arabia as a key global tourism destination. Information and Communication Technologies (ICT) With a value exceeding $40.9 billion and contributing 4.1 percent to the Kingdom’s GDP, Saudi Arabia’s Information and Communications Technology (ICT) market stands as the most substantial and rapidly growing in the Middle East and North Africa. The Kingdom is strategically poised to evolve into a central hub for technology services and cloud computing. Its geographical location, with access to the Red Sea and the Gulf, positions it ideally to cater to European, Asian, and African markets. In line with Vision 2030, the Ministry of Communications and Information Technology (MCIT) aims to develop a state-of-the-art digital infrastructure. The goal is to facilitate digital transformation across various domains, such as e-commerce, digital education, digital health, smart cities, national data management, and e-government. The 2023 ICT Strategy of Saudi Arabia plans to create over 25,000 jobs in the ICT field, enhance the IT market and emerging technologies by 50 percent, and increase the sector’s GDP contribution by $13.3 billion. The strategy also focuses on attracting foreign investment and promoting women’s involvement in the sector. The Economic Cities and Special Zones Authority has also initiated a Cloud Computing Special Economic Zone. Unique in the region, this zone allows cloud service providers to establish data centres across Saudi Arabia and deliver various cloud computing services. This move marks a significant advancement in Saudi Arabia’s journey to become a global leader in the ICT sector. The leading sub-sectors are: Cybersecurity Internet of Things (IoT) & Smart Cities Cloud Computing Artificial Intelligence 5 G E-Commerce Sports Saudi Arabia is increasingly becoming a hub for major sporting events, reflecting its citizens’ growing interest in sports. The Kingdom has successfully hosted several notable events, such as high-profile boxing matches, ATP tennis tournaments, and Formula 1 races, starting in 2021. The momentum is set to continue with an exciting lineup of future events. These include