MBS: Middle East can be the ‘new Europe’

Saudi Crown Prince Mohammed bin Salman, with Lebanese Prime Minister Saad Hariri, second right, and Bahrain’s Crown Prince Salman bin Hamad Al-Khalifa, second left, attend the Future Investment Initiative conference. (AN photo by Ziyad Alarfaj)
Updated 02 November 2018
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MBS: Middle East can be the ‘new Europe’

  • Crown prince tells Future Investment Initiative forum in Riyadh that he would like to see the economic transformation of the region happen within his lifetime
  • “The Kingdom of Saudi Arabia in five years will be completely different,” he says

RIYADH: The Middle East can be the “new Europe,” Saudi Crown Prince Mohammed bin Salman said on Wednesday as he vowed to see the region thrive economically. 

The crown prince told a packed audience at the Future Investment Initiative forum in Riyadh that he would like to see the economic transformation of the region happen within his lifetime. 

He said his “war” was restoring the Middle East to its past glory. “I believe the new Europe is the Middle East,” Prince Mohammed said. “The Kingdom of Saudi Arabia in five years will be completely different.”

The crown prince is driving Saudi Arabia’s Vision 2030 plan for economic and social reforms. “If we succeed in the coming five years, other countries will join us,” he said. “Even Qatar, despite our differences with it, has a strong economy and it will be completely different in five years.”

The crown prince said Saudi Arabia had already taken “very big steps” to develop its own economy. 

“The numbers speak for themselves,” he said. “Our non-oil revenues have almost tripled.”

Prince Mohammed said the Kingdom would continue with its ambitious Vision 2030 reform plan, predicting the economy will grow by 2.5 percent this year and that growth would improve next year.

He cited Saudi Arabia’s efforts to transform its oil-dependent economy, build more infrastructure, and fight terror. “All our projects are going ahead, reform is going ahead, our war on extremism is going ahead, our war on terrorism is going ahead ... our efforts won’t stop no matter how they try to constrain us,” he said.

Higher crude prices and an expansion of the non-oil economy helped Saudi Arabia’s economy grow in the second quarter at its fastest pace for over a year, according to official data.

The crown prince praised Sheikh Mohammed bin Rashid, ruler of Dubai, who he said had set the standard for Middle East societies. 

Prince Mohammed was speaking on stage with Bahrain’s Crown Prince Salman bin Hamad and Lebanese Prime Minister Saad Hariri. 

Prince Salman said growth in Saudi Arabia was good for the region as a whole. “Saudi Arabia is the engine of growth in our region and its success will be reflected on us,” he said. 

Hariri spoke of the importance of forming a new government in Lebanon — something he acknowledged will take time. “We are looking forward to forming a government that will meet the needs and expectations of the Lebanese people,” he said. 

Prince Mohammed joked about allegations that Hariri was detained in the Kingdom last year — and said the Lebanese PM would be departing the Kingdom soon. 

“Prime Minister Saad is staying in the Kingdom for two days so I hope you don’t spread rumors that he was kidnapped,” the crown prince said.


Sneakerheads from around world descend on Riyadh for Sneaker Con 2026

Updated 29 January 2026
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Sneakerheads from around world descend on Riyadh for Sneaker Con 2026

  • Capital’s edition highlights Saudi Arabia’s rising profile in global lifestyle, pop culture scene

Sneaker Con 2026 brought global sneaker culture to the Saudi capital, transforming Cool Arena at Boulevard City this week into a vibrant meeting point for youngsters in search of streetwear and collectibles.

The event, which ran from Monday to Wednesday, is known for gathering collectors, resellers, brands, influencers, and fans under one roof, and its Riyadh edition highlighted Saudi Arabia’s rising profile in the global lifestyle and pop culture scene.

It featured a large-scale marketplace in which visitors could buy, sell and trade rare and limited-edition sneakers, supported by authentication services that ensured credibility and trust in a market driven by exclusivity.

Beyond commerce, the event offered panel discussions, live DJ sets, interactive challenges, art installations and appearances by regional and international creators, capturing the broader street culture that surrounds sneakers.

Free to attend with prior registration and running daily from late afternoon into the night, the event formed part of the wider Riyadh Season calendar, reinforcing the city’s ambition to host world-class cultural experiences that resonate with a young, creative and globally connected audience.

Sneaker Con 2026 brought global sneaker culture to the Saudi capital.  (AN photo/Rahaf Jambi)

International brands from across the globe were among the standout participants. Puerto Rican brand We Got Kicks made its presence felt, with representative Jorge Andres highlighting the brand’s enthusiasm for entering the Saudi market.

Andres said the invitation to Riyadh marked an important milestone, and he told Arab News: “We really want to bring our brand to Saudi Arabia and raise awareness. Everyone here is very nice, and people genuinely care.”

Another major draw was Urban Necessities, a globally recognized consignment shop known for sourcing hard-to-find sneakers.

Jaysse Lopez, one of the brand’s founders, shared his journey and strong connection to Saudi Arabia. Originally from Puerto Rico and now based in Las Vegas, Lopez explained that Urban Necessities focused on rare pieces not commonly found in mainstream retail.

He said: “Urban Necessities is a consignment shop that focuses on all the things you don’t see every day: the hard-to-find sneakers. It’s for all walks of life.”

Lopez noted that the brand has been present in Riyadh for nearly three years, with a store in Boulevard City, and had played a role in helping bring Sneaker Con to the Kingdom.

Speaking about popular collaborations, he highlighted the continued demand for Travis Scott releases.

Sneaker Con 2026 brought global sneaker culture to the Saudi capital.  (AN photo/Rahaf Jambi)

“He has a very big following, and his collaborations with Nike and Jordan always sell out,” Lopez said. “The demand is extremely high.”

Reflecting on his visits to the Kingdom, Lopez described Saudi Arabia as a place of rapid change and opportunity, and added: “This is my third time here. It’s amazing to see how much has changed in just one year, and over the three years I’ve been coming.

“The people are kind, the culture is beautiful, and it gets harder to leave every time.”

Regional participation was also strong. From Qatar, sneaker brand Size Run took part in the event, represented by Hussain Nabeel, who described the experience as overwhelmingly positive.

Nabeel said: “From the first day it was fantastic for us. We are very happy to be here and to show everyone who Size Run is.”

He added that the brand aimed at strengthening connections across the Gulf, saying: “We have online platforms, and we can ship to Saudi Arabia for free.”

Local Saudi businesses also used Sneaker Con as a platform. Siraja, a Saudi brand specializing in customized apparel and brand development, highlighted its locally based production capabilities.

Waleed Al-Khaled, representing the brand, said the company’s mission was to support aspiring entrepreneurs, and added: “Anyone who wants to start a business and doesn’t know how to, we are here to help — from design to production, all made in Riyadh.”

By attracting international, regional, and local players, Sneaker Con Riyadh underscored the Kingdom’s growing influence in global sneaker and streetwear culture.

The event served as a cultural exchange, reflecting how Riyadh is positioning itself as a hub where global trends meet local creativity.