Saudi Arabia in January 2026: the most important developments in economy
In Saudi Arabia in January 2026, the most consequential economic news was on 26 January, when the kingdom was reported to have scaled down its plans for the Neom megacity, including its flagship project The Line, a significant reduction in the scope of its most ambitious development. On the same day the investment minister said total investment volume had passed $400 billion, Fitch projected that the debt capital market would grow 15 percent to $600 billion by the end of 2026, and authorities said they had identified $2.5 trillion worth of untapped mineral deposits.
Artificial intelligence and energy also featured. The AI company Humain, backed by the Public Investment Fund, secured up to $1.2 billion to expand its infrastructure. Aramco's chief executive said that AI had generated billions in value and that fears of an oil supply surplus were exaggerated. Saudi Arabia led in ESG sukuk and office property investment, Riyad Bank announced it would recover a 3 billion riyal sukuk, and Saudi Budget Group planned to raise its capital by 33.74 percent through bonus shares. The drugmaker Hikma targeted a $150 million investment in the kingdom, and the developer Dar Al Arkan planned to expand into new markets including Greece. In Mecca, a new bus route linked the Grand Mosque to a cultural district and a program was launched to upgrade unplanned neighborhoods.
by WorldBrief & Maksim Micheliov | AI-generated summary
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