The country’s trade surplus dropped 34.3 percent to 3.09 billion rials by the end of June, down from 4.70 billion rials in the same period last year. Shutterstock
JEDDAH: Oman's non-oil exports rose 9.1 percent in the first half of 2025, climbing to 3.26 billion rials ($8.48 billion), as the Sultanate’s diversification efforts gained traction despite a sharp decline in its trade surplus, preliminary data showed.
The country’s trade surplus dropped 34.3 percent to 3.09 billion rials by the end of June, down from 4.70 billion rials in the same period last year. The decrease was largely attributed to a 16.1 percent fall in oil and gas exports, which amounted to 7.42 billion rials, compared with 8.85 billion rials in the first half of 2024, according to the National Centre for Statistics and Information.
Oman’s Vision 2040 strategy is driving structural reforms aimed at reducing the economy’s reliance on hydrocarbons and fostering private sector growth. The government has promoted investments and eased regulations to strengthen non-oil sectors, including logistics, manufacturing, and services.
“Total merchandise exports fell 9.5 percent to 11.499 billion rials, while re-exports decreased 5.9 percent to 815 million rials. Non-oil merchandise exports grew to 3.26 billion rials, up from 2.989 billion rials in the same period last year,” the Oman News Agency reported, citing the NCSI.
It added: “The data showed that the total value of merchandise imports into the Sultanate of Oman rose 5.1 percent to 8.411 billion rials by the end of June 2025, compared with 8.004 billion rials in the same period of 2024.”
The UAE led Oman’s non-oil trade, with exports reaching 593 million rials, a 29.8 percent increase from the first half of 2024. The UAE also ranked first in receiving Omani re-exports, valued at 348 million rials, and was the top source of Oman’s imports at 1.98 billion rials.
followed as the second-largest destination for Oman’s non-oil exports at 538 million rials, with India third at 335 million rials.
In re-exports, Iran came second at 129 million rials and third at 57 million rials. China and Kuwait were the second and third-largest sources of imports at 854 million rials and 795 million rials, respectively.
In late 2024, oil and gas exports surged 22 percent year on year to 12.40 billion rials, supported by a 7.6 percent rise in crude oil and a 151.6 percent jump in refined oil exports, offsetting a 7 percent drop in liquefied natural gas, according to an NCSI report.
Meanwhile, total merchandise exports grew 10 percent to 18.24 billion rials, and imports climbed 10.9 percent to 12.17 billion rials. However, non-oil exports contracted 14.1 percent to 4.53 billion rials, dragged down by a 27.3 percent decline in mineral products, even as plastics and rubber shipments rose 6.9 percent.
Re-exports expanded 18.1 percent to 1.3 billion rials, supported by transport equipment, food, and mineral goods.
Riyadh leads ’s industrial rental growth with 9.3% jump in Q2
Updated 14 September 2025
Nirmal Narayanan
RIYADH: Riyadh’s industrial and logistics sector recorded an annual rental growth of 9.3 percent in the second quarter of 2025, reinforcing the Saudi capital’s role as a regional industrial hub, according to a JLL report.
The analysis by the real estate advisory firm showed that annual rental growth rates in Riyadh ranged from 4.7 percent to 25 percent across warehouses in all industrial submarkets, reflecting broad-based demand fundamentals as the city benefits from ongoing economic diversification initiatives.
Strengthening the industrial sector is one of the key pillars of ’s Vision 2030 agenda, with the Kingdom steadily reducing its reliance on crude oil revenues.
The growth in rental rates across the industrial and logistics segment also underscores the expansion of ’s real estate market, as the Kingdom strengthens its position as a business hub in the region.
The Kingdom’s Real Estate General Authority forecasts the property market will reach $101.62 billion by 2029, with a compound annual growth rate of 8 percent from 2024.
Taimur Khan, head of research at JLL Middle East and Africa, said: “The overall healthy rental growth across ’s industrial markets reflects the impact of ongoing industrial development and logistics infrastructure improvements, driven by Vision 2030’s ambitious agenda.”
He added: “Well-positioned submarkets, located along major transportation corridors, are primed for stronger performance in the months ahead. As industrial occupiers continue to focus on modern facilities and strategic locations, this will further shape the market’s trajectory and drive demand, supporting the Kingdom’s economic transformation goals.”
Industrial Gate City in Riyadh retained its premium position with rental rates amounting to SR300 ($79.97) per sq. meter per annum, followed closely by Tharawat Logistics at SR285 per sq. meter per annum.
Taybah emerged as the city’s standout performer with a 25 percent annual rental increase, while Al Fawzan Industrial City recorded a 17.8 percent rise.
In Jeddah, the industrial markets posted a healthy 4.5 percent rental growth in the second quarter. Jeddah Islamic Port maintained its status as ’s most premium industrial location, commanding SR450 per sq. meter per annum with a 7.1 percent annual increase.
“Rental levels in this (Jeddah Islamic Port) top-tier location significantly outpaced both Riyadh and Dammam, reinforcing its strategic value for trade-dependent operations. Despite rental increases in the majority of Jeddah’s submarkets, growth rates were more moderate than in the Saudi capital,” JLL said.
The Dammam Metropolitan Area saw headline rents increase by 10.8 percent in the second quarter, although submarkets experienced a fragmented performance.
Al Khalidiyah Shamaliyah posted the highest rates at SR235 per sq. meter per annum with 9.3 percent growth. Indus-Comm was an exceptional outlier, delivering the strongest rental growth at 32.4 percent.
King Abdulaziz Road demonstrated strong momentum with 20 percent annual growth despite offering the most affordable rates at SR180 per sq. meter per annum.
Al Taawun was the only submarket across all three major cities to record a rental decline, with a 6.3 percent annual drop.
RIYADH: Saudi banks’ aggregate profit before zakat and tax reached SR8.24 billion ($2.2 billion) in July, marking a 7 percent increase compared to the same month last year.
Latest data from the Saudi Central Bank, also known as SAMA, show that this robust monthly showing lifted cumulative profits for January to July to about SR59.24 billion, an 18 percent rise over the same period in 2024, highlighting the sector’s strong growth trajectory.
Regionally, performance mirrors the broader Gulf Cooperation Council upswing. In its September report, Kamco Invest said GCC-listed banks’ net profit hit a record $16.2 billion in the second quarter, powered by broad-based revenue gains and a lower cost-to-income ratio that more than offset higher impairments, underscoring robust fundamentals and a healthy project pipeline across the region.
In , lenders also operate with one of the GCC’s highest loan-to-deposit ratios, at 94.3 percent, reflecting credit demand that outpaces deposit growth.
A major driver of Saudi banks’ earnings is soaring corporate lending, as the Kingdom’s lenders finance megaprojects and businesses aligned with Vision 2030’s diversification plan. Total outstanding bank credit hit SR3.2 trillion in July, up 15.21 percent year on year.
Notably, business loans grew 22.5 percent to SR1.8 trillion, now comprising about 56.23 percent of total lending, up from roughly 53.46 percent a year ago.
Such growth underscores Saudi banks’ critical role in propelling the Kingdom’s economic diversification, funding everything from giga-projects and infrastructure to housing and small businesses.
Real estate has been a key beneficiary, buoyed by rising homeownership initiatives and megaprojects like NEOM, but other sectors are also expanding their borrowing.
For instance, trade, utilities, manufacturing, and other sectors all saw healthy double-digit loan growth in SAMA’s latest figures.
Elevated interest rates, higher margins
Despite the rapid credit growth, Saudi banks have navigated a high-interest-rate environment that has prevailed globally. Borrowing costs remain elevated as the US Federal Reserve has yet to ease policy in 2025, following only modest reductions late in 2024.
An August Reuters poll found 61 percent of economists expect a 25-basis-point cut on Sept. 17, taking the target range to 4.00–4.25 percent, while 42 percent expect no change. Over 60 percent foresee one or two cuts in 2025 overall.
For Saudi banks, SAMA’s mirroring of elevated Fed policy has widened lending margins, lifting interest income.
Crucially, demand for credit has stayed strong despite the costlier loans, a testament to the strength of ’s economy and project pipeline. In other words, companies and consumers are continuing to borrow for expansion and housing, driven by confidence in economic prospects, even as interest rates hover at multi-year highs.
Outlook: profitable growth and new financing avenues
Going forward, industry forecasts point to sustained strong performance for Saudi banks. S&P Global Ratings expects lending growth of around 10 percent in 2025, mainly driven by corporate credit tied to Vision 2030 projects.
It projects that banks will maintain stable profitability next year, as higher loan volumes are set to offset a modest dip in net interest margins once domestic rates begin to ease in tandem with the US.
Meanwhile, Fitch Ratings echoes this optimism, forecasting that Saudi banks will “continue outpacing Gulf peers in 2025,” with sector financing rising about 12 percent on the back of sturdy corporate credit demand.
Fitch and S&P both emphasize that earnings should remain solid even if interest margins narrow slightly, given the Kingdom’s robust non-oil growth and banks’ ample capital buffers.
Banks are also innovating their funding strategies to support future growth. In August, the Saudi Real Estate Refinance Co., a state-owned entity, launched the Kingdom’s first residential mortgage-backed securities issuance, after receiving SAMA’s approval.
This inaugural securitization packaged a portfolio of home loans into bonds, marking a “strategic step toward developing ’s real estate finance market and enhancing its appeal to investors,” according to Majid Al-Hogail, minister of municipalities and housing and chairman of SRC’s board.
The deal is expected to improve liquidity and risk management in the booming mortgage sector as banks currently hold more than $180 billion in home loans, by allowing lenders to refinance and sell off mortgages to investors
Such moves will free up bank balance sheets and provide fresh capital for new lending, especially important as housing demand remains robust under Vision 2030’s goal of 70 percent homeownership.
With healthy capitalization, at 19 percent capital adequacy, and prudent provisioning, Saudi banks appear well-positioned to sustain growth while absorbing risks.
Potential challenges like tighter global liquidity or geopolitical risks are being watched, but so far, the Kingdom’s macroeconomic fundamentals and policy reforms have underpinned confidence in its banking system.
Saudi banks’ continued strong credit growth, innovation in funding, and alignment with national goals give rating agencies and experts optimism that the sector will maintain its upward trajectory, supporting the Kingdom’s economic transformation in the years ahead.
MENA emerges as global business travel hotspot amid digital and economic boom
The sector is projected to grow 6.1 percent year on year in 2025, according to a report by UAE-based travel platform Tumodo
Updated 14 September 2025
Miguel Hadchity
RIYADH: As global business shifts toward emerging markets, the Middle East and North Africa is seeing steady growth in corporate travel, strengthening its position as a rising business travel hub.
The sector is expanding faster than the global average — reaching $18.1 billion in 2024 and projected to grow 6.1 percent year on year in 2025, according to a report by UAE-based travel platform Tumodo. Investors, airlines, and hospitality giants are already taking note of the region’s transformative potential.
MENA’s business travel bookings surged 40 percent in early 2025 compared with late 2024, with April and May marking the busiest months post-Ramadan.
The broader market is expected to hit $270.8 billion by 2030, fueled by infrastructure development, digital innovation, and deepening economic ties with Europe and Asia.
“The impressive 50 percent year-on-year growth we’ve seen this year signals a shift from recovery to reinvention,” said Stan Klyuy, chief commercial officer of Tumodo, in the report, noting that average airfares are down by 12 percent and hotel bookings up by 2 percent.
Rita Raad, senior principal of strategy and transformation of the public sector at FTI Consulting, explained in an interview with Arab News: “The 40 percent surge in business travel bookings to MENA in the first half of 2025 reflects a powerful mix of regional momentum and shifting global priorities.”
She added: “Much of this growth is driven by the GCC (Gulf Cooperation Council), where the economy is projected to grow 4.2 percent in 2025-26 compared to about 1.5 percent in Europe, fueled by 3.7 percent non-oil sector expansion and diversification efforts.”
Oil and gas, technology, and finance remain the biggest corporate travel drivers, according to Raad, while ’s giga-projects continue to draw waves of consultants, engineers, and operators.
Hassan Malik, tourism and sport consulting leader and partner at Deloitte Middle East. (Supplied)
Hassan Malik, tourism and sport consulting leader and partner at Deloitte Middle East, told Arab News that the region is indeed “witnessing a remarkable rebound and reinvention in corporate travel.”
A key catalyst of business travel growth, according to Malik, is “the influx of mega-projects and infrastructure in , like Qiddiya, Neom, and the Red Sea project, drawing global business and investment interest.”
Meshal Al-Faras, head of Middle East, Africa and Central Asia at Janus Henderson, told Arab News: “We are seeing a sustained shift in how international companies and investors view this region, and is a clear driver of that momentum.”
Meshal Al-Faras, head of Middle East, Africa and Central Asia at Janus Henderson. Supplied
He added: “The objectives of Vision 2030 are being implemented at scale across infrastructure, logistics, finance and tourism. That level of clarity and execution attracts interest from global organizations that want to grow in a stable and high-potential market.”
Travel trends
According to Tumodo’s report, led as the top destination for users of the platform, accounting for 20 percent of all travel, followed by the UK at 15 percent, and France and India each at 10 percent.
Regional airlines Emirates, Turkish Airlines, and Qatar Airways dominated preferences, while India emerged as the most affordable route and the UK as the premium choice.
Regarding the trend for bleisure — trips that blend business with leisure — Raad noted: “The concept of bleisure continues to shape corporate mobility in MENA, with 25 percent of business travelers now extending their stays for leisure, especially among younger generations prioritizing work-life balance.”
She mentioned that airlines such as Qatar Airways, Etihad, Emirates, and Saudia were responding by enhancing their in-flight and ground services to cater to bleisure travelers.
Rita Raad, senior principal of strategy and transformation of the public sector at FTI Consulting. (Supplied)
These upgrades included features such as fully lie-flat seats, priority lounge access, and flexible entertainment and dining options, enabling passengers to work comfortably and relax during flights and transit.
Malik said that bleisure has now become mainstream, with many travelers extending work trips for personal time or combining them with relaxation. He noted that business travelers are increasingly staying longer to explore local destinations.
“Airlines are responding by introducing premium economy offerings, enhanced Wi-Fi, and flexible stopover packages, and Emirates and Etihad also now routinely promote wellness and sightseeing add-ons,” added Malik.
Al-Faras commented that the idea of business travel being limited to boardrooms no longer reflects how people operate, adding that executives want both flexibility and quality when they travel.
He added: “In and across the GCC, we are seeing that expectation being met with strong investment in premium hospitality, high service standards, and facilities that allow people to work and relax in the same setting.”
Sustainability and tech
On sustainability efforts, Raad explained that MENA’s business travel sector is increasingly balancing growth with sustainability by embedding CO2 tracking and AI-driven cost optimization into corporate travel operations.
“Platforms like Tumodo now let companies forecast spending, measure emissions, and enforce eco-friendly routing — optimizing for shorter flights, sustainable hotels, and consolidated itineraries — and delivering emissions reductions of up to 20 percent,” she added.
Malik added that sustainability is becoming central to corporate travel strategy in MENA, noting that national targets in the UAE, , and Qatar all aim for net-zero emissions in the coming decades through Vision 2030 and national energy strategies. He emphasized that “sustainability is increasingly core to corporate travel strategy in MENA.”
Malik noted that businesses are aligning procurement, travel, and logistics with green standards, prioritizing local suppliers and offset schemes via platforms like MENA’s Global Carbon Council, the region’s first voluntary carbon offsetting program.
Investor takeaways
Looking at investment opportunities, Al-Faras stated: “I believe the $270 billion projection is realistic as this growth is supported by what we are seeing across the GCC.”
He added that there is strong demand for physical infrastructure — ranging from airports and rail to hotels and event spaces — as well as for digital platforms that support business travel and mobility. Al-Faras noted that has developed a pipeline of projects in these areas and has shown “a clear willingness to partner with private capital.”
Raad cautioned that investors needed to carefully assess risks, as the massive scale of ongoing mega-developments could disrupt market balance if demand growth slowed.
She also highlighted potential regulatory shifts in visas, ownership, and taxation that might impact investment returns, along with increasing environmental, social, and governance pressures.
Companies are increasingly demanding low-carbon travel, which would require the timely adoption of Sustainable Aviation Fuel and green-certified infrastructure.
Malik concluded: “Risks are very real, too. The biggest challenge will be timing and coordination. If infrastructure growth — number of flights, hotel rooms, venue capacity — doesn’t align across the board, there’s a risk of overcapacity in one area and bottlenecks in another.”
He added: “Regulatory complexity across countries and cities may slow seamless integration. Delivering not just on time, but to international quality standards, will be crucial to sustaining momentum.”
As MENA’s business travel sector surges, the region’s blend of innovation, sustainability, and economic diversification cements its status as a global leader — with no signs of slowing down.
Big tech bets on Saudi deserts for digital infrastructure
Market revenue is projected to reach $2.07 billion in 2025 and expand to $2.83 billion by 2030
Updated 14 September 2025
Reem Walid
RIYADH: ’s deserts are fast becoming the new frontier for hyperscale data centers, offering vast land, natural resilience, and strategic positioning that traditional global tech hubs struggle to match.
The Kingdom’s geologically stable terrain faces little risk from earthquakes or flooding, making it an ideal base for mission-critical digital infrastructure. Market revenue is projected to reach $2.07 billion in 2025 and expand to $2.83 billion by 2030, growing annually at 6.45 percent, according to Statista.
Turki Badhris, president of Microsoft Arabia, said the desert landscape provides a rare opportunity to build at scale without the limitations of legacy infrastructure.
Turki Badhris, president of Microsoft Arabia. Supplied
“Unlike traditional global tech hubs, the Kingdom’s open terrain allows for purpose-built facilities with fully independent power, cooling, and networking systems. This kind of scale and flexibility is challenging to achieve in crowded global tech hubs,” Badhris said.
Fady Chalhoub, partner at PwC Middle East, noted that hubs such as Singapore and Zurich face constraints from land scarcity, high real estate costs, and strict regulations. By contrast, combines affordable land with state-backed investment in subsea and terrestrial fiber routes linking Europe, Asia, and Africa.
“This combination of low-risk geography, strategic location, and government-backed infrastructure development presents a compelling value proposition for hyperscale providers seeking to expand beyond traditional hubs,” he said.
Houssem Jemili, consultant at Bain & Co. (Supplied)
Houssem Jemili, consultant at Bain & Co., added that abundant land, ultra-low-cost solar power, and a dry climate suitable for passive cooling strengthen the Kingdom’s appeal. Government support, he said, “provides financial incentives, infrastructure, and regulatory ease,” while proximity to subsea cables enhances global connectivity.
Energy and innovation advantage
The Kingdom is also leveraging renewables to power its data economy. Chalhoub emphasized the role of solar and green hydrogen in cutting emissions and lowering operating costs. He said despite extreme heat, the region’s low humidity makes advanced cooling techniques viable.
“Solutions such as liquid and immersion cooling, including direct-to-chip technologies, are increasingly viable in this environment, supported by the availability of land, progressive regulation, and an innovation-friendly policy landscape,” he said.
He added: “ is prioritizing the development of dedicated digital zones and infrastructure corridors,” enabling campuses tailored for AI, cloud, and quantum technologies.
Jemili pointed to the Kingdom’s intense solar irradiance as a source of ultra-cheap renewable power. The dry climate, he said, is driving the adoption of water-saving cooling systems, while land availability supports hyperscale campuses at lower real estate costs.
He noted that megaprojects such as Neom’s Public Investment Fund–backed AI data center campus show how is integrating digital infrastructure into broader smart city plans. With new subsea cables strengthening its global links, the Kingdom is emerging as a “tri-continental data hub,” Jemili said.
Regional competition
is not alone in this race. The UAE has poured investment into AI-focused data centers, while Qatar has launched national cloud initiatives. But ’s scale, low energy costs, and government funding set it apart.
According to PwC, regional data capacity is set to triple — from 1 GW in 2025 to 3.3 GW within five years — fueled by surging demand for cloud computing and AI. GCC states, led by , are driving this transformation through initiatives like the PIF-backed Transcendence AI Initiative and Amazon Web Services’ $5.3 billion investment.
Cost dynamics add to the edge. Industrial land in ranges between $10 and $50 per sq. meter, compared with $150 to $600 in US hubs such as Northern Virginia. Power tariffs are also lower — $0.05 to $0.06 per kWh in and the UAE versus $0.09 to $0.15 in the US.
Meanwhile, submarine cable projects including 2Africa, SMW6, and Gulf Gateway (GGC1) are reinforcing ’s connectivity with Europe, Asia, and Africa, underpinning competitive pricing.
Vision 2030 push
Hyperscale data centers are central to ’s Vision 2030, drawing global players such as Oracle, Google, Microsoft, and Amazon while boosting local capacity and economic diversification.
Badhris said Microsoft’s Azure cloud region was “equally about supporting the Kingdom’s broader digital ambitions under Vision 2030.
“By enabling digital transformation, creating high-value jobs, and driving innovation across industries, we are contributing to the Kingdom’s economic diversification goals,” he said. The initiative aims to generate up to $24 billion in value over four years and train more than 100,000 Saudis in cloud and AI skills by 2025.
Chalhoub noted that hyperscale infrastructure stimulates demand for AI, cloud, and cybersecurity expertise, strengthens data sovereignty, and supports startups.
“Ultimately, hyperscale datacenters are more than technical infrastructure,” he said. “They are foundational enablers of ’s aspirations for a knowledge-based economy, sustainable innovation, and industrial self-sufficiency.”
Jemili pointed to global momentum, citing Oracle’s $14 billion pledge and Equinix’s $1 billion Jeddah investment.
“Also, the Saudi Digital economy is expected to benefit: the data center market will triple to $3.9 billion by 2030, reflecting rising cloud and AI demand. Lastly, the data centers will support PIF’s digital initiatives such as Neom’s $5 billion net-zero AI hub,” he said.
Startup Wrap — leads MENA startup funding in August
Kingdom led the region for the second consecutive month, attracting $166 million across 19 deals
Updated 13 September 2025
Nour El-Shaeri
RIYADH: Startup funding across the Middle East and North Africa posted a 74 percent year-on-year increase in August, with $337.5 million secured across 47 deals.
The figure reflects continued investor interest amid market recalibration, although the monthly total is a 57 percent drop from July’s record $783 million.
led the region for the second consecutive month, attracting $166 million across 19 deals, while the UAE followed with $154 million raised by 11 startups.
The funding concentration in and the UAE highlights their dominance in regional venture activity.
Egypt, typically a top-three performer, saw continued weakness with just $14.7 million raised across eight startups.
Iraq, which ranked third in July, fell to fifth with a single $1.5 million transaction, while Morocco retained its top-four position.
Property tech emerged as the leading sector, raising $96 million across four deals, reflecting sustained investor appetite for real estate innovation.
Fintech followed with $68.3 million raised across five transactions, staging a recovery after a weaker July.
Construction technology took third, driven by MYCRANE’s $50 million round, while the gaming sector rose to fifth, buoyed by $12.6 million in Saudi-led investments— a sign of the Kingdom’s ambitions in digital content and gaming.
Later-stage funding dominated the month, with three series B deals raising $112 million and three series A deals securing $82 million.
UAE-based fintech Metric has secured funding from A-typical Ventures. (Supplied)
Debt financing accounted for $60 million, or 18 percent of total funding, while early-stage activity saw a notable decline, with 31 startups raising just $22 million.
The figures indicate a more selective investment environment, with capital favoring scale-ups over seed-stage ventures.
B2B startups attracted the majority of funding, raising $180 million across 32 deals.
B2C ventures followed with $116.9 million from nine transactions, while hybrid models accounted for the remainder.
The shift suggests investors are prioritising startups with clearer monetization models and enterprise focus.
Funding remained largely male-dominated, with startups led by men securing $263.5 million across 41 deals.
However, female-led ventures made gains, raising $72.3 million across two Saudi-based startups— Gathern and Phys— while mixed-gender teams attracted $1.6 million.
Orbii raises $3.6m seed round
Saudi-based credit infrastructure platform Orbii has secured $3.6 million in seed funding to expand its operations across the MENA region.
The round was led by Prosus Ventures, with additional participation from VentureSouq, DASH Ventures, Taz Investments, and Sanabil 500.
Founded in 2024, Orbii is building an artificial intelligence-powered platform that enables banks, fintechs, and B2B marketplaces to deliver SME lending solutions faster and more accurately.
The technology integrates directly with banking systems, fintech platforms, point-of-sale networks, and ERP software to support real-time credit decisions.
With the funding, Orbii plans to grow its footprint in and the UAE, enhance its engineering and data science teams, and advance its mission to unlock $1 billion in SME financing by 2026.
Fitting secures $500k pre-seed funding
Saudi-based construction-tech startup Fitting has raised $500,000 in a pre-seed funding round led by a strategic angel investor.
The funding will support technology development, team expansion, and strategic partnerships in the Kingdom’s rapidly transforming construction sector.
Founded in 2024, Fitting operates a digital marketplace connecting wholesale building materials suppliers with retailers and real estate developers.
The platform addresses inefficiencies in procurement by improving transparency and reducing waste.
The company is positioning itself to play a central role in ’s construction ecosystem amid Vision 2030 and mega-projects such as Neom and Qiddiya.
MoneyHash and noon payments partner
Middle East and Africa-based payment orchestration platform MoneyHash has entered into a strategic partnership with noon payments to enhance access to localized payment methods across the Gulf region.
Through a single API, businesses can now activate key regional payment options, including Mada, KNET, and Benefit, as well as Meeza and Omannet.
The collaboration brings together MoneyHash’s orchestration technology with noon payments’ extensive regional coverage to simplify operations and improve customer experiences.
The joint solution targets digital-first businesses and enterprises seeking faster deployment, streamlined backend integration, and improved approval rates across fragmented payment systems.
21Doctors closes pre-seed round to build Arabic-first AI medical infrastructure
Saudi-based health tech startup 21Doctors has completed its pre-seed funding round, backed by a group of strategic angel investors.
The company has also established its headquarters in , which will serve as the central hub for operations and product development.
Founded by Osama Al-Mabroum and Rania Abu Taleb, 21Doctors is focused on creating AI-driven healthcare tools tailored for Arabic-speaking medical providers.
The platform is designed to support digital transformation in the sector, aligned with the Kingdom’s Vision 2030.
The company aims to expand its technology and partnerships across the Gulf following early traction in and Jordan.
DawaDose secures pre-seed funding to build integrated digital pharmaceutical platform
Saudi-headquartered healthtech startup DawaDose has raised an undisclosed amount in a pre-seed funding round supported by angel investors.
The company will use the capital to establish its headquarters in the Kingdom and expand across regional markets.
Founded by Rushdi Abdalghani and Osama Al-Mabroum, DawaDose is building a fully integrated B2C and B2B pharmaceutical ecosystem, connecting pharmacies, wholesalers, and consumers through AI-powered digital tools.
The company’s roadmap includes strengthening partnerships and preparing for regional expansion, with a strong alignment to Vision 2030.
TERN Group raises $24m
TERN Group, a UK- and UAE-based AI-powered healthcare talent mobility platform, has raised $24 million in a series A round led by Notion Capital.
The latest round brings the company’s total funding to $33 million, with participation from EQ2 Ventures, RTP Global, LocalGlobe, Leo Capital, Presight Capital, and Tom Stafford of DST Global.
Founded in 2023 by Avinav Nigam and Krishna Ramkumar, TERN focuses on training, certifying, and deploying healthcare professionals from 13 countries into high-demand markets.
The platform claims to reduce recruitment timelines from up to 12 months to under 10 weeks.
The new capital will fund expansion of its AI, training, and compliance infrastructure and support growth across the GCC, Europe, and the UK.
VentureSouq closes fintech Fund II with support from top regional LPs
UAE-based venture capital firm VentureSouq has closed its second fintech-focused fund, FinTech Fund II, with participation from prominent limited partners including Jada Fund of Funds, Saudi Venture Capital Co., Saudi Awwal Bank, Mubadala, Takamol, Krafton, and Jordan’s ISSF.
The fund will focus on early-stage fintech and Software-as-a-Service startups across MENA, targeting verticals such as payments infrastructure, digital banking, alternative credit, insurance tech, and property tech.
With over $250 million in assets under management and a track record that includes investments in Tabby, Huspy, Yassir, and Mozn, VentureSouq continues to expand its presence in the regional innovation ecosystem.
AI fintech Metric secures funding to scale across the GCC
UAE-based fintech Metric has secured funding from A-typical Ventures, with participation from 500 Global, Hub71, and i2i Ventures, as well as Plus VC, Epic Angels, Oqal Angels, Accelerate Prosperity, and regional angel investors.
The capital will support product development and regional expansion.
Founded in 2022, Metric provides founders and small business owners with tools to simplify complex financial data.
The platform includes dashboards, benchmarking tools, forecasting capabilities, and a conversational AI adviser designed to help users make data-driven decisions.
Property Finder raises $525m via minority stake sale
UAE-based real estate platform Property Finder has raised $525 million through a minority stake sale to Permira and Blackstone. General Atlantic partially exited during the transaction but remains a significant shareholder.
The sale marks Permira’s first investment in the Middle East.
Property Finder aims to use the new capital and partnerships with Permira, Blackstone, and General Atlantic to accelerate growth in and Turkiye.
The transaction follows a $90 million debt financing round in 2024 led by Francisco Partners.
PRYPCO closes pre-series A round led by General Catalyst
UAE-based proptech platform PRYPCO has closed a pre-series A round of undisclosed value, led by General Catalyst.
The company claims to have enabled nearly 10 billion dirhams ($2.72 billion) in mortgage transactions and supported over 3,000 Golden Visa applications since its founding in 2022.
Established by Amira Sajwani, PRYPCO operates PRYPCO Blocks, which offers fractional property ownership, and PRYPCO Mint, a tokenized real estate investment platform.
The fresh funding will support expansion of the platform’s offerings, regulatory engagement, and continued growth across the MENA region.
