Stories from Riyadh · Saudi Arabia

The number of real estate transactions in Saudi Arabia fell by 39.15% compared to the same day last week. The average price per square meter reached 2.84 riyals, with Jeddah recording the highest average price per square meter. In Riyadh, the average price per square meter was 3.696 riyals. The Saudi Council for Economic Affairs and Development reviewed these figures as part of the Vision 2030 updates. The General Authority for Real Estate has also released a draft model for usufruct rights via the Istitlaa platform.

The Saudi General Authority for Real Estate has released a draft model for usufruct rights in the real estate register via the Istitlaa platform. The project aims to boost regional economies and tourism, specifically benefiting Turkey. The initiative aligns with visions to establish the Middle East as a central economic hub. The proposed network would branch from the Gulf through Saudi Arabia into Jordan, then split toward Egypt, Syria, and Turkey. Technical studies for the connection are reportedly nearing completion. The General Authority for Real Estate has approved new regulatory frameworks for real estate marketing and advertising. The regulations aim to organize advertising practices, enhance transparency, and protect market participants. The new rules mandate obtaining specific licenses for marketing activities.

The Tadawul Group reported a 54 percent decline in profits for the first quarter of 2026. Operating revenues for the group decreased by approximately 10 percent. Total profits also saw a decline of 26 percent due to various items affecting performance. Financial expert Dr. Abdullah bin Saud discussed these results, noting the drop compared to previous periods.

Several Saudi companies have reported financial results and related-party transactions. United Insurance Cooperative incurred losses of 256.22 million riyals in 2020, with a 18% drop in revenue. Red Sea Global reported dealings with Al Dabbagh Holding exceeding 33.75 million riyals, primarily through an interest-free loan. Tadawul Group's profits fell to 55.6 million riyals in Q1 2026, despite increased operating revenues. South African golf commentator Dean Burmester has expressed support for the LIV Golf league despite rumors regarding Saudi Arabia's Public Investment Fund (PIF). Reports suggest the PIF could withdraw financial support due to growing losses totaling more than $5 billion. Burmester's comments come amid uncertainty regarding the league's future funding.

Saudi Arabia will no longer fund golf, and the WTA tennis finals are moving out of the country after this year. The kingdom has spent approximately $5 billion on these projects so far without seeing the expected returns. The shift indicates a reluctance to continue spending at previous levels. Scott O'Neill stated that beyond 2026, LIV Golf will face an imperative to source investment from sources other than Saudi Arabia. The future of the league currently feels uncertain due to this potential shift in funding. The report was cited by George Wallace during a news segment. Saudi backers will no longer bankroll the live golf circuit after the current season. The decision was reported by a general just moments ago. According to the Wall Street Journal, the fund will officially notify players and staff of this decision tomorrow.

A high-level meeting focused on bilateral relations between Iran and its allies has taken place. The Crown Prince affirmed the vision for these partnerships. The discussions highlighted the strong friendship and alliance between Iran and its partners. This is part of ongoing diplomatic engagement. These talks aim to strengthen ties between the participating nations. The meetings involve high-level representatives from the involved countries.

The King Salman Reserve has received an innovation technology certification from the Union. This makes it the first natural reserve in the Middle East and West Asia region to achieve this distinction.

A traditional Chinese grain ceremony included a hand-sewn chest flower as a element.

A Saudi national, after serving 14 years in the military, decided in 2014 to transition to the tourism sector. He expressed pride in his military service but found better opportunities in tourism. He stated that the decision to switch fields was successful.

More than 30 scientific and institutional entities from various regions of the Kingdom are participating. The event is scheduled to take place from February 1 to February 3, 2027. The announcement was made regarding the selection of Riyadh as the host city for the summit.