Saudi Arabia raises financial support by 20% for 98 municipal jobs, activities

The employment program is part of the government’s broader strategy to increase the participation of Saudi nationals in various sectors. Shutterstock
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Updated 29 July 2024
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Saudi Arabia raises financial support by 20% for 98 municipal jobs, activities

  • Decision aims to enforce localization and supply sector with qualified workers
  • Also aims to create more engaging and productive job opportunities for citizens

RIYADH: The Saudi national workforce is set to receive a 20 percent boost in financial support for nearly 98 jobs and activities within the municipal and housing sectors.

The Ministry of Municipalities and Housing, in collaboration with the Human Resources Development Fund, announced an increase in the financial aid percentage for the Employment Support Program from 30 percent to 50 percent. This adjustment will apply to 53 professions and 45 activities, with a maximum limit of SR3,000 ($800).

The ministry, formerly known as the Ministry of Municipal, Rural Affairs, and Housing, said in a post on its X account that the decision aims to enforce localization and supply the sector with well-trained and qualified workers.

The employment program is part of the government’s broader strategy to increase the participation of Saudi nationals in various sectors, aligning with Vision 2030 goals to diversify the economy and enhance employment opportunities for Saudis.

The Ministry of Municipalities and Housing, in partnership with the Ministry of Human Resources and Social Development, announced that the decision to localize 25 percent of engineering professions took effect on July 21. This policy will apply to private sector establishments employing five or more workers in engineering jobs.

This decision is part of both ministries’ efforts to create more engaging and productive job opportunities for citizens throughout the Kingdom.

The housing ministry said that it will oversee and implement this decision to boost labor market participation, ensuring alignment with market requirements and the specific needs of engineering professions.

The ministry also said that private sector establishments will benefit from various incentives and support programs offered by the human resources and social development system to aid in hiring Saudis.

The ministry explained that these programs include recruitment and job-matching assistance, essential training and qualifications, and ongoing employment support. Establishments will receive priority access to all available localization and employment support programs through HRDF.

The Ministry of Human Resources and Social Development has issued a procedural guide outlining the localization requirements and necessary percentages, saying that establishments must comply with these regulations to avoid non-compliance penalties.


The Family Office to host global investment summit in Saudi Arabia

Updated 18 January 2026
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The Family Office to host global investment summit in Saudi Arabia

RIYADH: The Family Office, one of the Gulf’s leading wealth management firms, will host its exclusive investment summit, “Investing Is a Sea,” from Jan. 29 to 31 on Shura Island along Saudi Arabia’s Red Sea coast.

The event comes as part of the Kingdom’s broader Vision 2030 initiative, reflecting efforts to position Saudi Arabia as a global hub for investment dialogue and strategic economic development.

The summit is designed to offer participants an immersive environment for exploring global investment trends and assessing emerging opportunities and challenges in a rapidly changing financial landscape.

Discussions will cover key themes including shifts in the global economy, the role of private markets in portfolio management, long-term investment strategies, and the transformative impact of artificial intelligence and advanced technologies on investment decision-making and risk management, according to a press release issued on Sunday.

Abdulmohsin Al-Omran, founder and CEO of The Family Office, will deliver the opening remarks, with keynote addresses from Saudi Energy Minister Prince Abdulaziz bin Salman and Prince Turki Al-Faisal, chairman of the King Faisal Center for Research and Islamic Studies.

The press release said the event reflects the firm’s commitment to institutional discipline, selective investment strategies, and long-term planning that anticipates economic cycles.

The summit will bring together prominent international and regional figures, including former UK Treasury Commercial Secretary Lord Jim O’Neill, Mohamed El-Erian, chairman of Gramercy Fund Management, Abdulrahman Al-Rashed, chairman of the editorial board at Al Arabiya, Lebanese Minister of Economy and Trade Dr. Amer Bisat, economist Nouriel Roubini of NYU Stern School of Business, Naim Yazbeck, president of Microsoft Middle East and Africa, John Pagano, CEO of Red Sea Global, Dr. Anne-Marie Imafidon, MBE, co-founder of Stemettes, SRMG CEO Jomana R. Alrashed and other leaders in finance, technology, and investment.

With offices in Bahrain, Dubai, Riyadh, and Kuwait, and through its Zurich-based sister company Petiole Asset Management AG with a presence in New York and Hong Kong, The Family Office has established a reputation for combining institutional rigor with innovative, long-term investment strategies.

The “Investing Is a Sea” summit underscores Saudi Arabia’s growing role as a global center for financial dialogue and strategic investment, reinforcing the Kingdom’s Vision 2030 objective of fostering economic diversification and sustainable development.