SAUDIZATION-

Saudi Arabia will implement a three-phase plan to localize 41 professions within the private tourism sector in a bid to increase Saudi professionals in the labor market, according to a procedural guide (pdf) published by the HR and Social Development Ministry.

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The first phase, commencing on 22 April 2026, will see roles such as central operator and hotel receptionist subject to a 100% Saudization rate. A 70% Saudization rate will then apply to positions like tour guide and hotel quality control specialist, followed by a 50% rate for roles such as tourism development specialist and tourism organizer.

What about the second and third phases? The second phase, starting on 3 January 2027, will see chef positions requiring a 30% Saudization rate, while the last phase will see a host of managerial professions requiring a rate of 50%, starting on 2 January 2028.

REMEMBER- The Ministry announced new directives in January to raise Saudization rates across 269 professions in sectors including engineering (30% for 184 roles), dentistry (45% starting July this year), accounting (40% for firms with over five accountants by October this year), and pharma (35% for community pharmacies, 65% for hospital roles, and 55% for other pharma-related jobs, all effective from July 2025).

M&A WATCH-

Tadawul-listed conglomerate Amwaj International bought an 18% stake in Dubai luxury developer Cledor for an undisclosed sum, according to a joint statement. The investment — which marks Amwaj’s first venture into the Emirati market — values Cledor at USD 100 mn. Cledor will manage Amwaj’s upcoming projects in the UAE as part of the agreement.

What’s the gain for each side? The acquisition gives Amwaj operational exposure in Dubai and a vehicle to deploy capital in a high-growth segment. For Cledor, the investment provides a runway to cover operating costs, access to Amwaj’s procurement and talent network, and institutional backing.

INFRASTRUCTURE-

The National Water Company (NWC) completed the implementation of two major water supply projects in the Riyadh Province, spanning over 26km at a total cost exceeding SAR 140 mn, according to a statement. These projects aim to boost water capacity by 146k cubic meters per day, improving water supply to the city of Diriyah and the Diriyah Gate project, as well as districts in Riyadh, including Hittin, Al Nakheel, and Al Khuzama.

REMEMBER- NWC broke ground on 30 new water and sewage projects across Riyadh valued at around SAR 2 bn earlier this month. The projects included around 1.9k km of new pipelines across the city of Riyadh and neighboring governorates, including Diriyah.

DEBT WATCH-

Renewables giant ACWA Power secured a seven-year SAR 750 mn loan fromAlinmaBank to finance the construction of its new headquarters in Riyadh, according to a statement.

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