RIYADH: Saudi and Bahraini companies took part in a forum on Thursday on the sidelines of Crown Prince Mohammed bin Salman’s visit to Bahrain.
The forum discussed opportunities for economic integration by strengthening joint cooperation in various fields, and opening new and diverse horizons to support trade, investment and tourism.
It also considered partnerships in industry and energy, the role of trade agreements in promoting economic integration, and opportunities for integration in the real estate sector.
Sameer Nass, chairman of the Bahrain Chamber of Commerce and Industry, said the forums are important for promoting joint work and supporting economic growth and prosperity in the two kingdoms, as well as unifying efforts to face economic challenges, especially for the private sector.
Nass said the crown prince’s visit is a reflection of the well-established brotherly ties, and the strong historical and deep-rooted relations between Bahrain and Saudi Arabia.
The forum also presents an opportunity to create new trade and investment alliances that serve both countries’ economic sectors.
Saudi, Bahraini businesses discuss economic integration plans
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Saudi, Bahraini businesses discuss economic integration plans
- The forum discussed opportunities for economic integration by strengthening joint cooperation in various fields.
Saudi Arabia lifts property sale ban to spur AlUla development
RIYADH: The Royal Commission for AlUla has lifted the suspension on land and property sales in central and southern AlUla, paving the way for renewed real estate activity in the region.
According to an RCU statement, the move aligns with the commission’s commitment to sustainable and inclusive development aimed at enhancing residents’ quality of life.
It also supports Saudi Vision 2030’s tourism objectives, with AlUla projected to contribute a cumulative SR120 billion ($31 billion) to the Kingdom’s gross domestic product by 2035, Phillip Jones, RCU’s Chief Tourism Officer, told Arab News in 2024.
“Lifting the suspension on land and property sales opens wider pathways for urban development and expands residential and investment options, reinforcing AlUla’s position as a prime destination for living and investment,” the statement said.
The decision is also designed to unlock significant opportunities for investors and developers in Saudi Arabia’s real estate sector, strengthen stability in the rental and ownership markets, and support diverse residential and commercial projects. Additionally, it aims to enrich AlUla’s urban identity by blending modern development with the city’s cultural and historical heritage.
Speaking at the TOURISE conference in Riyadh last November, Jones noted that AlUla has expanded its aviation capacity to 30 weekly flights and plans to double its hotel rooms to 2,000. He emphasized that these efforts aim to create a scalable, self-sustaining ecosystem that improves access while preserving the region’s heritage and landscapes.
Jones described AlUla as “a year-round destination,” with peak tourism from October to April driven by festivals, events, and concerts. Increased visitor numbers are already contributing to Saudi Arabia’s economy, in line with Vision 2030 goals.
Located in the northwest of the Kingdom and spanning approximately 22,000 sq. km, AlUla also has a thriving agricultural sector that underpins its economic development. Guided by social, economic, and ecological principles, the RCU has developed a strategic roadmap for AlUla, aiming to diversify the national economy beyond oil and boost GDP growth.
