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RIYADH: ������Ƶ and South Africa agreed to expand cooperation in trade, investment, energy, mining and infrastructure, deepening economic ties during the 10th session of their Joint Committee in Riyadh. 

The committee also reinforced efforts to enhance collaboration in agriculture, healthcare, and knowledge transfer in sectors such as environment and logistics, the Saudi Press Agency reported. 

The two countries have been strengthening their economic relationship in recent years. In July, ������Ƶ’s non-oil exports to South Africa reached SR193.8 million ($51.65 million), while total non-oil trade between them stood at about SR5.7 billion in 2024, highlighting growing bilateral engagement. 

Citing ������Ƶ’s Minister of Industry and Mineral Resources, Bandar Alkhorayef, the SPA report stated that he called for “building broader partnerships [with South Africa] that include knowledge transfer, skills development, and technical innovation, based on the Kingdom’s Vision 2030 programs.”  

He also emphasized the deep ties between the Kingdom and South Africa, urging both nations to capitalize on available opportunities to strengthen the economic partnership. 

Parkus Tau, South Africa’s Minister of Trade, Industry and Competition, described the Joint Committee as a “crucial milestone” in deepening strategic relations between Riyadh and Pretoria, reflecting both countries’ shared commitment to advancing common interests and cooperation. 

Tau highlighted opportunities in South Africa’s automotive and iron sectors that require investment and technical partnerships, as well as mining initiatives focused on exploration and critical minerals. He added that South Africa’s special economic zones offer attractive platforms for joint ventures. 

Both nations also agreed to develop partnerships in maritime and air transport to facilitate the movement of goods and services between them. 

At the conclusion of the session, the two sides reaffirmed their commitment to strengthening bilateral ties and expressed their eagerness to expand cooperation across economic, developmental, and social sectors to ensure sustainable growth. 

The committee also announced that the 11th session will be hosted in South Africa, with plans to build on the current discussions and ensure implementation of agreements aimed at enhancing future collaboration. 

RIYADH: Diriyah Co., backed by ������Ƶ’s sovereign wealth fund, awarded contracts worth SR18.75 billion ($5 billion) in the first half of 2025, as the historic capital’s redevelopment speeds up. 

The total value of contracts, spanning 15 agreements including six memorandums of understanding and nine construction projects, underscores the project’s expanding scale, according to a press release.  

Since opening Bujairi Terrace and the At-Turaif District in December 2022, the site has welcomed more than 3.6 million visitors, with Diriyah targeting 50 million annual visits by 2030. 

Aligned with Saudi Vision 2030, Diriyah’s developments are expected to contribute over SR70 billion annually to the national economy and create 180,000 jobs, the company said. 

“The contracts we have secured, exceeding SR18 billion, are not only a testament to the gravitas of the Diriyah masterplan but also demonstrate the tangible way in which we are enhancing and celebrating our cultural and historic significance, whilst advancing toward our Vision 2030 targets,” Kiran Haslam, chief marketing officer at Diriyah Co., told Arab News.  

He added: “These results illustrate our commitment and accelerating progress in establishing Diriyah as a truly world-class integrated urban development.”  

Among the largest agreements is a SR5.1 billion joint venture with El Seif Engineering, Midmac Construction, and China State Construction Engineering Corp. to build the Royal Diriyah Opera House, set to be the site’s flagship performing arts venue.  

Another major project is the relocation of utilities and administration offices for King Saud University, secured in April under a SR4.23 billion contract awarded to a joint venture comprising China Railway Construction Corp., and China Railway Construction Group Central Plain Construction Co. Ltd.  

Construction is also underway at Diriyah Arena, a multipurpose venue honoring Najdi architectural heritage, for which a SR5.75 billion superblock contract was awarded to China Harbor Engineering.  

Meanwhile, Diriyah Square’s retail precinct saw a SR2.25 billion contract awarded in July to Salini ������Ƶ, part of Italy’s WeBuild group, covering 73 buildings and 400 retail units. 

“During this period (first half of this year), Diriyah has made impressive progress, from awarding the Royal Diriyah Opera House project to awarding contracts for transformative developments like Diriyah Arena and Diriyah Square,” Haslam told Arab News.  

He added: “These projects aim to create not only modern landmarks but also unique experiences that redefine hospitality, entertainment, and culture, offering something special to ������Ƶ and the world.” 

The projects are part of broader efforts to enhance the Kingdom’s cultural and entertainment offerings.  

Diriyah has also introduced new residential developments, such as the Aman Residences and Armani Residences, and launched its signature “Diriyah Tan” color in collaboration with Pantone to reflect the city’s architectural heritage. 

Diriyah’s international recognition has increased in recent years. TIME magazine included it among the 100 most influential companies in 2025, and it appeared on Wanderlust’s Travel Green List for its sustainability efforts.  

With ongoing developments in infrastructure, hospitality, and culture, Diriyah is gradually establishing itself as a key part of ������Ƶ’s efforts to expand its tourism sector ahead of Riyadh Expo 2030.