QIDDIYA: Qiddiya Investment Co. (QIC) is developing a key real estate project within Qiddiya that will include residential, commercial and office units to attract companies, CNBC Arabia reported, citing CEO Philippe Gas.
The project has a main sports component, which will be developed in cooperation with the Saudi Ministry of Sports, in order to host part of the activities of the Asian Games.
QIC will commence work for the first phase of the project this year. Infrastructure works carried out so far have not been affected by COVID-19, Gas said.
A number of activities will be inaugurated by 2023, such as the Six Flags park and an entertainment area, he said, adding that real estate developments and other assets are also being planned.
QIC will work with Saudi firms to develop the local economy, while international companies will be sought only in the event of lack of local expertise.
The project is receiving global attention, with in-depth discussions being held with potential investors across various sectors, which is key for diversifying the Saudi economy, said Gas.
Qiddiya is part of the Kingdom’s tourism strategy and represents a hub for attracting tourists, especially in light of Riyadh’s population growth, he added.
The project comprises 500 employees, 60 percent of whom are Saudis, with a plan to increase their number over the coming years, Gas said.
QIC is fully owned by the Kingdom’s Public Investment Fund and is subject to Saudi laws. The project is located an hour from King Khalid International Airport and 40 minutes from the center of Riyadh, covering an area of 334 sq. km.
Qiddiya CEO: Work underway on key mixed-use real estate project
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Qiddiya CEO: Work underway on key mixed-use real estate project
- Progress so far unaffected by COVID-19: Philippe Gas
Qatar issues 28k commercial registrations in 2025, up 57%
JEDDAH: Qatar reported the issuance of nearly 28,000 commercial registrations in 2025, marking a 57 percent annual increase, according to official data.
The announcement came during the Ministry of Commerce and Industry’s fourth quarterly performance review for 2025, according to Qatar News Agency, or QNA.
The meeting was chaired by Sheikh Faisal bin Thani bin Faisal Al-Thani, minister of commerce and industry, and attended by Minister for Foreign Trade Ahmed bin Mohammed Al-Sayed, Undersecretary of the MoCI Mohammed bin Hassan Al-Malki, as well as assistant undersecretaries and department directors.
The growth in commercial registrations aligns with Qatar National Vision 2030, the country’s long-term development framework aimed at transforming the economy into a diversified, competitive, knowledge-based system that reduces dependence on hydrocarbons and expands private sector participation.
The trade sector has exhibited notable progress. The ministry issued 28,000 commercial registrations in 2025, alongside 34,500 business licenses, up 53 percent from 2024.
Additionally, 16 auditors were registered, and eight accounting firms and offices were licensed during the year.
The ministry’s Single-Window business service portal continued to expand its services, introducing 26 new initiatives in 2025. A total of 239,593 transactions were processed through the platform, 93 percent of which were completed electronically, reflecting the efficiency of digital transformation efforts, QNA reported.
“Customer satisfaction with electronic services reached 95 percent in the fourth quarter,” the agency added.
In attracting foreign investment, 12,449 non-Qatari companies were established in 2025, representing a 600 percent increase compared to 2024, highlighting the attractiveness of Qatar’s investment environment and investor confidence.
Intellectual property protection also improved. In 2025, 255 patents were granted, a 6 percent increase from the previous year, while trademark registrations reached 9,218, up 23 percent, and 258 copyright registrations were granted, an 89 percent increase on 2024.
In the industry and business development sector, manufacturing contributed approximately 14.2 billion Qatari riyals ($3.9 billion) to gross domestic product in the third quarter of 2025. The sector expanded with 39 new factories registered during the year, and the readiness of 100 factories was assessed under the Smart Industry Readiness Index.
Investments in new factories in the fourth quarter totaled 758 million riyals, while cumulative industrial sector investment reached 270 billion riyals.
To improve the business environment and support the private sector, QNA added that 10 public-private partnership projects were reviewed in 2025.
Licensing procedures for industrial permits, preliminary approvals, and customs exemptions for factory inputs were reduced to one working day in the fourth quarter.
In the consumer sector, efficiency improved with 18,400 special permits issued for discounts and promotions, a 26 percent increase from 2024, and processing times were reduced to less than one working day.
The average time to process price increase requests decreased from two days to one day in the fourth quarter, with an annual average of 25 days in 2025, a 63 percent reduction from 2024.
Additionally, 229,000 inspections were conducted during the year, with violations recorded in 19 percent of establishments, mostly due to absence from registered locations.
Consumer complaints totaled 23,400 and were fully resolved. Support programs benefited 450,000 recipients under food supply programs and 8,535 recipients under fodder support during the fourth quarter.
Concluding the meeting, the minister emphasized the importance of maintaining an integrated institutional approach focused on enhancing efficiency, accelerating digital transformation, and improving service quality to boost national economic competitiveness and achieve the objectives of Qatar National Vision 2030.
