Dubai’s innovation hub led by Errol Musk promises a tech revolution
Updated 53 sec ago
Arab News
DUBAI: Errol Musk, the South African entrepreneur and father of US President Donald Trump’s top adviser Elon Musk, is bringing his vision for technological innovation and decentralized growth to the UAE with the launch of Musk Tower and the Musk Institute.
The project, spearheaded in partnership with the Al-Khaili Group, aims to establish a global hub for technology, renewable energy, and blockchain advancements, with the MuskIt token – $MUSKIT – playing a central role.
“On my last visit to the UAE, I was invited by entrepreneurs here to launch something that would leverage the many advantages this country offers in different areas and make use of my experience and understanding of technological issues as an electrical engineer myself,” Errol Musk told Arab News last week.
The Musk Tower will serve as a physical manifestation of the Musk Institute, a “think tank of excellence” designed to unite bright minds, investment opportunities and global influence. According to project documents, the institute will address industry challenges and global issues, providing a space where innovation can thrive and where new ideas can secure funding.
A key component of the ecosystem is the MuskIt token, a digital asset intended to facilitate innovation. MuskIt holders can expect exclusive access to events, programs and conferences at the Musk Tower, as well as early investment opportunities in projects backed by the tower’s crypto innovation fund. There are even potential plans being explored that could allow MuskIt holders to stake their tokens in exchange for potential shares in the Musk Tower, providing a tangible link between digital assets and real-world infrastructure.
Addressing concerns about the volatility often associated with cryptocurrency, Musk said the project is committed to regulatory compliance.
“The management will make sure that all the UAE and international rules and regulations are strictly adhered to so that the token not only thrives and benefits investors but also boosts the reputation and reliability of the entire crypto industry,” he said.
The tower will feature an investment fund to back early-stage crypto and blockchain projects, innovation labs for research and development, and a global partnership network connecting blockchain projects with venture capital and tech innovators.
In a statement, Mubarak Al-Khaili, a partner of the Musk Tower project, said: “The MuskIt token and Musk Tower are about creating the foundations for a new era of decentralized finance, global partnerships and technological growth. This is just the beginning of what’s to come. Our goal is to create a lasting legacy that will support rising tech and empower the next generation of creators.”
The Musk Institute, as envisioned under the chairmanship of Musk in project documents, will also focus on tackling real-world challenges such as water scarcity, lithium harvesting, quantum energy transfers, Internet of Things, and bringing digital connectivity and banking to Africa.
Musk sees the UAE as a strategic location for nurturing the next generation of entrepreneurs and tech leaders. “The location of Musk Tower and the Musk Institute in the UAE, an increasingly important crossroads of the world and a supporter of innovation and advanced technologies, is a strategic one,” he told Arab News.
“It will be a magnet for local and regional entrepreneurs as well as bright minds from countries like India and China which are geographically much closer to Dubai than to Europe or the US.”
Musk believes that with over 50,000 current holders, the MuskIt token is more than just a meme coin; it is backed by the Musk family and will serve as the official coin of the Musk Institute.
Syria’s economy could take 55 years to recover at current growth rates: UNDP
Updated 18 min 32 sec ago
Reem Walid
RIYADH: The war-torn economy of the Syrian Arab Republic will take decades to return to pre-conflict levels unless growth accelerates dramatically, according to a report by the UN Development Programme.
While the country’s gross domestic product has contracted to less than half its 2011 value and unemployment has tripled, the report suggests Syria could recover in a decade with a sixfold increase in annual economic growth.
The assessment, titled “The impact of the conflict in Syria: a devastated economy, pervasive poverty, and a challenging road ahead to social and economic recovery,” underscores the extensive economic and social toll of 14 years of war.
“At current growth rates, Syria’s economy will not regain its pre-conflict GDP level before 2080,” the report stated. Achieving recovery within 15 years would require an ambitious tenfold growth increase, bringing GDP to where it would have been without the conflict.
Deepening crisis
Nine out of 10 Syrians now live in poverty, and one in four are unemployed, according to the UNDP. The economy has suffered an estimated $800 billion in cumulative GDP losses since the war began. Public infrastructure has crumbled, exacerbating the crisis and prolonging instability.
The health sector is in collapse, with one-third of health centers damaged and almost half of ambulance services inoperative, the report added. Education has also been hit hard, with 40 percent to 50 percent of children aged 6 to 15 out of school.
Housing and utilities have been heavily damaged, with a third of all units affected, leaving 5.7 million Syrians in need of shelter. Over half of water and sewer systems are damaged or non-functional, affecting nearly 14 million people. Energy production has fallen 80 percent, slashing national grid capacity by over three-quarters.
As a result, Syria’s Human Development Index has fallen from 0.661 in 2010 to 0.557, dropping below its 1990 level when HDI was first recorded.
Recovery path
The UNDP report outlines a roadmap to accelerate economic recovery and restore stability. “Beyond immediate humanitarian aid, Syria’s recovery requires long-term investment in development to build economic and social stability for its people,” said Achim Steiner, UNDP administrator.
“Restoring productivity for jobs and poverty relief, revitalizing agriculture for food security, and rebuilding infrastructure for essential services such as healthcare, education, and energy are key to a self-sustaining future, prosperity, and peace.”
The report stresses the need for a clear national vision, institutional reforms, and improved market access. It calculates that at Syria’s current 1.3 percent annual growth rate, from 2018–2024, it would take 55 years to regain pre-conflict GDP levels. Achieving recovery in 15 years requires at least 5 percent annual growth, while catching up to a no-conflict scenario demands nearly 14 percent annual growth.
“Syria’s future hinges on a robust development recovery approach,” said Abdallah Al-Dardari, UNDP assistant administrator and director of the UNDP Regional Bureau for Arab States.
“This demands a comprehensive strategy addressing governance reform, economic stabilization, sector revitalization, infrastructure rebuilding, and strengthened social services. By implementing these interconnected reforms, we can help Syria regain control over its future, reduce reliance on external aid, and pave the way for a resilient and prosperous future for all in Syria.”
The UNDP assessment is part of a broader effort by the UN Country Team in Syria to shape early recovery and reconstruction initiatives.
Saudi Real Estate Refinance Co. raises $2bn in debut international sukuk
Issuance was oversubscribed six times, reflecting strong investor confidence and demand
It is part of SRC’s $5 billion international Sukuk program
Updated 16 min 4 sec ago
MIGUEL HADCHITY
RIYADH: The Saudi Real Estate Refinance Co., a Public Investment Fund subsidiary, has priced its first international sukuk issuance, raising $2 billion, boosting the local economy and attracting foreign investment.
SRC’s sukuk issuance supports Saudi Arabia’s Vision 2030 goals, including expanding the mortgage market, promoting homeownership, and attracting global investment.
According to a press release, the issuance — guaranteed by the Saudi government — was oversubscribed six times, reflecting strong investor confidence and demand from over 300 institutional investors worldwide.
“This marks a significant milestone in integrating the Saudi economy with global markets, attracting foreign direct investment, enhancing liquidity, and developing the secondary mortgage market in Saudi Arabia,” said the Minister of Municipalities and Housing and Chairman of SRC.
The sukuk, structured in two tranches with three- and ten-year maturities, is part of SRC’s $5 billion international sukuk program. The issuance will be listed on the International Securities Market of the London Stock Exchange, strengthening Saudi Arabia’s connection to global capital markets and enhancing liquidity in the Kingdom’s mortgage finance sector.
Majid Al-Hogail said the successful listing underscores Saudi Arabia’s commitment to developing its housing finance ecosystem.
He highlighted Saudi Arabia’s ambitious plans to expand the mortgage finance sector to SR1.3 trillion ($346.6 billion) by 2030, up from SR800 billion in 2024 and just SR200 billion in 2018.
The minister said mortgage financings now represent 23 percent of total bank assets, aligning with Vision 2030’s 70 percent homeownership rate target by the end of the decade. By the end of 2023, the homeownership rate had already reached 63.7 percent, surpassing initial projections.
SRC CEO Majid Al-Abduljabbar described the sukuk issuance as a testament to global investor confidence in Saudi Arabia’s economy.
“The listing of the sukuk program on the LSE not only strengthens SRC’s global presence and strategy to attract a diverse base of international investors, but also solidifies the company’s position as a key player in the mortgage finance market, paving the way for new strategic partnerships and high-quality international investments,” Al-Abduljabbar said.
SRC holds strong credit ratings from top agencies, including Fitch with an ‘A+’ and a stable outlook, S&P with an ‘A’ and a positive outlook, and Moody’s with an ‘A2’ coupled with a positive outlook.
“These ratings reinforce the company’s strong position in launching its first international sukuk program, which aligns with global sukuk market standards and best practices in Islamic finance,” the statement added.
The company, established by PIF in 2017 under the supervision of the Saudi Central Bank, has been working to provide liquidity to mortgage lenders and facilitate access to affordable housing finance in Saudi Arabia.
“SRC plays a key role in achieving the objectives of the Housing Program under Saudi Vision 2030, which aims to increase homeownership rates among Saudi citizens,” the company said.
In January, SRC, in partnership with Hassana Investment Co., launched the region’s first residential mortgage-backed securities to diversify the financial market and attract local and international investors.
The initiative supports the Kingdom’s growing real estate market, driven by increasing mortgage lending and strong demand for housing, aligning with Saudi Arabia’s long-term economic development objectives.
Saudi Arabia’s economic diversification to drive robust growth in 2025: report
Updated 23 February 2025
Nirmal Narayanan
RIYADH: Saudi Arabia’s economic diversification efforts and the robust expansion of the non-oil sector, in line with its Vision 2030, are set to drive significant economic growth in 2025, according to a recent analysis.
First Abu Dhabi Bank, in its latest report, predicts that Saudi Arabia’s non-energy gross domestic product will grow by 4.4 percent in 2025, up from 3.5 percent in the previous year. This forecast aligns with a similar projection from PwC, which also expects the non-oil economy to grow by 4.4 percent this year.
In January, the International Monetary Fund projected Saudi Arabia’s overall economy would expand by 3.3 percent in 2025, with further growth expected at 4.1 percent in 2026.
FAB’s analysis is also consistent with a recent report from Riyad Bank, which forecasts a 4.8 percent growth in Saudi Arabia’s economy in 2025.
“Our constructive outlook on the GCC macroeconomic landscape in 2025 was bolstered and corroborated by Moody’s upgrade of Saudi Arabia’s sovereign credit rating. Saudi Arabia’s diversification momentum will be sustained going forward,” said FAB.
In November 2024, the global credit rating agency upgraded Saudi Arabia’s credit rating and that of related government entities to Aa3 from A1, maintaining a stable outlook.
According to Moody’s, an Aa3 rating is assigned to countries and entities with high quality, low credit risk, and strong ability to repay short-term debts.
Moody’s explained that the upgrade reflects the success of Saudi Arabia’s economic diversification efforts and its reduced exposure to fluctuations in the oil market and long-term challenges related to carbon transition.
Further affirming Saudi Arabia’s steady economic progress, Jihad Azour, director of the Middle East and Central Asia Department at the IMF, told Arab News in February that the Kingdom’s growing role in the international financial system is solidifying its position as an emerging economic “powerhouse.”
Regional outlook
According to the report, the GDP growth for the entire Gulf Cooperation Council region is expected to double from 2.1 percent in 2024 to 4.2 percent in 2025, driven by the continued growth of business activities in the non-energy sectors across these countries.
FAB projected that the UAE’s economy will expand by 5.6 percent in 2025, up from 4.5 percent in the previous year, surpassing the IMF’s global growth forecast of 3.2 percent. This growth will be fueled by strategic investments, diversification, and strong expansion in the non-oil sector.
Referring to IMF projections, the report noted that Egypt’s economy is expected to grow by 4.1 percent in 2025, up from 2.7 percent in 2024.
“The 2025 global economic environment presents unique challenges, but the GCC region continues to stand out as a beacon of resilience and opportunity,” said Michel Longhini, group head of Global Private Banking at FAB.
On interest rates, FAB noted that sovereign interest rates in the GCC countries are expected to align with those of the US in the coming quarters, due to the dollar-pegged currencies in the region.
Non-energy sector
The financial institution added the non-oil business conditions across the GCC are showing signs of strong growth, with most of the countries recording a Purchasing Managers’ Index above 50 since late 2020, which signals expansion.
Earlier this month, a report by S&P Global revealed that Saudi Arabia’s PMI for January stood at 60.5, the highest level in 10 years.
In the UAE, the PMI stood at 55 in January, while it was 53.4 in Kuwait, 50.2 in Qatar and 50.7 in Egypt.
“Such readings underscore the robust nature of domestic activity, consumption and private investment. The PMIs also reflect the depth and ongoing success of the economic diversification strategies across the region, encapsulating key sectors such as tech, health care, education, tourism, finance, renewable energy and artificial intelligence,” said the report.
It added: “The relative allure of the GCC region is perhaps no better highlighted than better comparison with the Eurozone manufacturing PMI which continues to languish below 50. This maturing picture across the GCC’s non-oil economy, coupled with an anticipated easing of OPEC+ oil production quotas over the coming months, should help to bolster the economic outlook and outsize the growth potential for the region during 2025.”
GCC’s economic resilience
According to the report, national initiatives such as the UAE’s Vision 2031 and Saudi Arabia’s Vision 2030 are driving growth in technology, startups, and non-oil sectors across the region.
FAB also noted that GCC equity markets are expected to deliver returns of 12 percent to 13 percent in 2025, supported by a recovery in key sectors and financial stability.
“Fueled by economic diversification, enhanced regulatory frameworks, and strong growth prospects, GCC markets are expected to offer a wealth of investment opportunities in the coming months,” said FAB.
The analysis further highlighted that countries like Saudi Arabia and the UAE have made significant investments in sectors such as healthcare, technology, and financial services, which are projected to drive future GDP growth in these nations.
Investment opportunities
The report also highlighted some of the major investment opportunities in the GCC region.
According to FAB, the region’s digital transformation is progressing rapidly, creating significant growth and investment opportunities for companies focused on innovative technologies such as artificial intelligence, big data, and cybersecurity.
Infrastructure development in countries like Saudi Arabia is also driving an increase in foreign direct investments across the region.
“Investors should keep an eye on companies involved in construction, materials supply, and technology, as these sectors stand to benefit substantially from these developments,” the report stated.
Sustainability is another key area for investors in the GCC, with governments actively promoting environmentally friendly practices. This has opened new investment avenues in sectors such as renewable energy and waste management.
FAB noted that countries like Saudi Arabia and the UAE are making substantial investments in solar energy to meet their green power needs, presenting significant opportunities for investors in the sector.
The report further emphasized the growing demand for ESG-compliant companies, indicating a substantial opportunity in the sustainable finance space.
The expanding population, shifting demographics, and increasing awareness are driving major investment opportunities in the GCC healthcare sector.
Discussing the potential of the tourism sector, FAB said: “With various initiatives aimed at boosting tourism, including megaprojects like NEOM, Expo 2030, and FIFA 2034 in Saudi Arabia, the hospitality sector is primed for growth.”
It added: “Investors can explore opportunities in hotels, entertainment complexes, and ancillary services catering to the growing number of tourists.”
The report also highlighted the potential of the real estate sector as an attractive investment opportunity, with rising demand for residential and commercial properties across the region.
FAB pointed out that the introduction of regulatory frameworks, such as property ownership laws for foreigners, has further opened up the real estate market, making it more appealing to both domestic and international investors.
In January, Saudi Arabia’s Capital Market Authority issued a landmark guideline allowing foreigners to invest in Saudi-listed companies that own real estate in Makkah and Madinah.
Startup of the Week — KSA’s Quantum to scale its ad tech platform following $7m funding round
Updated 23 February 2025
Nour El-Shaeri
RIYADH: Saudi Arabia’s advertisement space is set to see a new level of data analysis after startup Quantum banked $7 million to boost its technology and expansion plans.
The Riyadh-based ad tech firm, founded by Omar Malaikah and Sara Bin Ladin in 2020, plans to use the funds from its pre-series-A round to scale its operations, enhance its platform and explore new markets, solidifying its position in the region’s growing digital advertising ecosystem.
In an interview with Arab News, Malaikah described the funding as a “huge milestone,” highlighting its significance beyond a financial boost.
“It’s not just about the money; it’s about what it enables us to do. We’re now in a position to scale our operations, refine our platform, and explore new markets with confidence. It also reinforces that our vision for transforming adtech is resonating with the right people,” he said.
The round, led by HearstLab, marks the global media investment firm’s first-ever Middle East investment.
“We’re incredibly proud to have HearstLab on board. As their first investment in the Middle East, it’s a validation (of) the unique value Quantum brings to the market,” Malaikah said.
“They were drawn to our ability to bridge the gap between advertisers and publishers in a way that’s both efficient and transparent. Their expertise in media and technology is going to be a game-changer for us as we push forward.”
Quantum’s platform directly connects advertisers with publishers.
“At its core, Quantum is about making ad buying smarter and simpler,” Malaikah explained. “Advertisers can use our platform to directly buy premium ad space, cutting out a lot of inefficiencies and middlemen. For publishers, it’s about better monetizing their inventory. We’re solving the pain points both sides have faced for years — things like high costs, lack of transparency, and complicated processes.”
Omar Malaikah, CEO and founder of Riyadh-based ad tech firm Quantum. (Supplied)
With the funding, Quantum plans to focus on expanding its market presence, starting with the Gulf Cooperation Council region and later targeting international opportunities.
“The GCC is our immediate focus, but we’re also looking at other markets with high growth potential, like Southeast Asia,” Malaikah said. “These regions have similar challenges in the ad tech space, and we see a lot of opportunities to bring our solutions there.”
Quantum also plans to refine its technology and add new features to its platform. “We’re investing in new features to stay ahead of the curve and provide even more value to our clients,” said Malaikah. “Growing our sales and client base is a big priority too, as we want to build on the momentum we’ve already achieved.”
The company has already gained strong traction since its founding in 2018, working with high-profile clients including Procter & Gamble, Unilever, Nestle, Goody, and Almarai.
“Since launching in 2018, we’ve achieved some amazing things,” Malaikah said. “We’ve grown our client base significantly, established strong partnerships, and gained recognition as a leader in the adtech space in the region. Being the first GCC company to secure investment from HearstLab is another big highlight for us.”
Quantum’s data-driven approach to advertising is central to its appeal. “Data is at the heart of what we do,” Malaikah emphasized, adding: “Our platform gives advertisers deep insights into how their campaigns are performing, which helps them make smarter decisions and get better results. It’s all about maximizing the return on their investment.”
He also shared a notable success story, saying: “One client in retail, for example, used our platform to increase their ROI by 40 percent, which was a real validation of our model.”
Revenue growth is another key target for Quantum, and Malaikah said: “While I can’t share exact numbers just yet, our goal is to double our revenue in the next year by expanding our client base and entering new markets. It’s an ambitious target, but one we’re ready to meet.”
As the company grows, it is also scaling its workforce, with a focus on hiring both locally and internationally. “We’re definitely hiring,” Malaikah said, adding: “We’re focusing on building our local talent in Saudi Arabia, but we’re also looking at international hires to bring in specialized expertise. Growing the team is a big priority as we scale.
Partnerships are a key element of Quantum’s strategy moving forward. “Partnerships are a big part of our growth strategy,” he explained. “While acquisitions aren’t on the immediate horizon, we’re always exploring ways to collaborate with companies that align with our vision and can help us grow faster.”
With its streamlined platform, advanced data analytics, and strategic growth plans, Quantum aims to reshape ad tech in the Middle East and beyond.
“Right now, our focus is on scaling the platform and expanding our market reach,” Malaikah said, underlining the company’s commitment to driving innovation in the sector.
Building Quantum during the pandemic presented unique challenges, particularly in establishing trust with clients without face-to-face interactions.
“But we adapted quickly — leaning heavily on digital communication and proving the value of our platform through results,” said Malaikah.
“Sara and I started Quantum because we saw a massive gap in the advertising market. Advertisers and publishers were frustrated by inefficiencies and a lack of transparency. We knew we could build something better — something that really met their needs.”
Looking ahead, Quantum has ambitious plans: “In three to five years, we see Quantum as a global player in adtech. Our goal is to be the go-to platform for advertisers and publishers looking for efficiency, transparency and results. We’re excited to scale, innovate and keep driving the industry forward.”
Time for a date: Saudi treat ripe for delivering economic nourishment
Updated 23 February 2025
Reem Walid
RIYADH: The inclusion of a date palm edged by crossed swords in the Saudi emblem reflects the deep-rooted cultural and economic value attached to the fruit in the Kingdom.
Symbolizing the essence of Arabian hospitality and holding a fundamental role in the daily life of people in the Kingdom, it is little surprise that over the past few years Saudi Arabia has worked on international and local initiatives that have contributed to raising the market value of dates.
This has led to the establishment of the National Center for Palms and Dates and the International Dates Council, with the membership consisting of 11 producing countries.
There are more than 33 million palm trees in Saudi Arabia — representing 27 percent of the total number in the world — while the number of palm agricultural holdings in the Kingdom has reached 123,000.
According to Market Research Future, the date market is projected to grow from $120 million in 2023 to $220 million by 2032, reflecting a compound annual growth rate of 5.22 percent.
Global and local initiatives’ contribution to elevating the dates market value
Saudi Arabia is actively promoting its dates as a top-tier product in global markets through various channels.
Engagements in worldwide food expos like Gulfood and SIAL, alongside targeted campaigns, have boosted recognition and interest in the fruit.
By emphasizing the country’s rich cultural and historical ties to dates, these branding initiatives are amplifying the attractiveness of Saudi dates to a broader audience.
According to Ibrahim El-Basyoni, a plant breeding and genetics research scientist at King Abdullah University of Science and Technology, the Kingdom is bringing together date-producing and consuming nations to promote the global industry.
“It has facilitated knowledge exchange, trade partnerships, and coordinated efforts to position dates as a staple food worldwide,” El-Basyoni told Arab News.
Ibrahim S. El-Basyoni, plant breeding and genetics research scientist at King Abdullah University of Science and Technology. (Supplied)
“It also advocates for increased global consumption of dates by highlighting their nutritional benefits,” he added.
Saudi Arabia is also advancing date cultivation through research, development, and farmer training programs.
El-Basyoni shed light on how the country advocates the adoption of modern agricultural techniques and sustainable practices to significantly enhance the production and quality of dates.
“Through collaborations with Saudi entities, KAUST is working to preserve Saudi Arabia’s historic date palm cultivars by creating an electronic date palm atlas. Additionally, the collaboration aims to boost production by introducing improved cultivars and implementing advanced agricultural practices and technologies, such as regenerative and smart agriculture,” he said.
Zooming into specific regions in the Kingdom, dates are the strongest agricultural asset in AlUla due to their economic value and dominance.
In fact, the Royal Commission for AlUla’s strategy includes a dedicated pillar for dates, with a vision to elevate the international profile of dates from the region, particularly the AlUla Barni variety.
Abdullah Al-Hameid, director of the agriculture center at RCU, explained that this is primarily supported by enabling initiatives focused on adopting efficient and resource-sustainable production practices.
There is also a drive to achieve research and innovation excellence in Barni production, establish AlUla dates as a benchmark of quality internationally, and expand date processing capabilities and diversify value-added product portfolios.
“These align with Saudi Arabia’s vision to sustainably develop agriculture. The RCU Agriculture Strategy is fully synchronized with the national agenda and sectoral strategies, ensuring RCU contributes to these goals,” Al-Hameid said.
Abdullah Alhameid, director of the Agriculture Center, Royal Commission for AlUla. (Supplied)
“RCU has established a partnership with the National Center for Palms and Dates, which has proven successful over the past five years. This includes NCPD’s involvement in organizing the AlUla Dates Festival and the development of export guidelines for AlUla Mabroom dates,” he added.
The dates auction in AlUla marked the initial stage of NCPD’s Seasonal Dates Market, designed to lay the foundation for trading in Saudi Arabia, positioning AlUla as a benchmark for other regions in the country.
Enhanced marketing strategies, both domestically and globally, have elevated the worth of AlUla dates.
“Marketing improvements, locally and internationally, have boosted the value of AlUla dates. The 2024 Dates Auction demonstrated remarkable progress, with over 800 participants — a 45 percent increase in farmer participation,” Al-Hameid said.
The scientist added: “The auction recorded sales of 1.7 million kilograms of dates, generating SR8.8 million ($2.34 million). Additionally, 2.3 million kilograms were sold outside auction, adding SR12 million.”
He went on to explain how over the years, the average price per kilogram rose from SR6.7 in the first 2021 auction to SR10.3 in 2023, with Mabroom dates fetching SR 50 per kilogram.
“To celebrate the diversity of AlUla’s agriculture, the Dates Festival has been integrated into AlUla’s Fresh Produce Season. This includes the Summer Fruits Season, Dates Season, Peregrina Season, and Citrus Season,” Al-Hameid said.
“AlUla Fresh Produce Season showcases AlUla’s agricultural products and raises global awareness of an internationally recognized brand for AlUla products, enhancing their appeal and entry into new markets,” he added.
Al-Hameid cited RCU’s recent sponsoring of a pioneering export trial to facilitate the entry of AlUla Mabroom dates into Germany as an example of trying to expand sales across Europe.
How Saudi Arabia is leveraging the country’s global palm tree population to lead industry
Saudi Arabia’s role as home to a significant portion of the global palm tree population offers a strong foundation for the Kingdom to lead the industry.
With this comes a responsibility to pioneer environmentally friendly date farming practices, meaning the Kingdom is prioritizing enhancing resource efficiency — particularly in water usage — and implementing advanced agricultural practices to maximize production and ensure sustainability.
From KAUST’s point of view, a key initiative is the introduction of the Saudi Dates Mark, a quality certification that guarantees compliance with international food safety and quality standards.
“This certification will enhance the global reputation of Saudi dates as a premium product. Additionally, efforts to promote iconic varieties such as Ajwa, Majdool, Sukkary, and Khalas have further boosted their appeal in competitive international markets,” El-Basyoni said on KAUST’s behalf.
Saudi Arabia’s export strategy emphasizes meeting global market preferences by offering organic and value-added date products, including date syrup, date paste, and date-based snacks.
“Collaborative efforts with KAUST are driving innovation in the industry by improving productivity, combating pests, and ensuring the long-term sustainability of palm cultivation,” El-Basyoni said.
The Kingdom also actively participates in international forums and exhibitions to position Saudi dates as a key player in the global food market.
Beyond traditional offerings, Saudi Arabia is expanding into value-added products, such as energy bars, health supplements, and premium gift packaging.
“These innovations cater to a diverse range of consumers, including health-conscious individuals and luxury markets. Advanced packaging and processing technologies have further extended the shelf life of dates and improved convenience, aligning with the evolving demands of international consumers,” the KAUST representative highlighted.
Potential growth opportunities that Saudi Arabia envisions for its date industry
Saudi Arabia envisions substantial growth opportunities for its date industry, both domestically and internationally, as it seeks to position itself as a global leader in production and trade of the fruit.
These initiatives and research goals are strongly aligned with Saudi Vision 2030, which focuses on economic diversification and increasing non-oil exports.
From KAUST’s point of view, by prioritizing the date industry, these efforts leverage Saudi Arabia’s natural resources and cultural heritage to support the vision’s objectives.
“The growth prospects for the date industry, spanning value-added product innovations, international market expansion, sustainability, and cultural preservation will underscore its vital role in the Kingdom’s economic transformation,” El-Basyoni said.
Meanwhile, RCU is committed to enhancing recognition of AlUla dates through best-in-class practices, leveraging research and development, improving market access, and building superior processing capabilities.
According to Al-Hameid, when it comes to adopting efficient and resource-sustainable production practices, RCU is spearheading the AlUla Irrigation Transformation Project to introduce advanced water-saving techniques, phasing out flood and surface irrigation.
The entity is also developing Good Agricultural Practices and organic production standards, he said, adding: “In 2024, the RCU Agriculture Center held over 95 training sessions for more than 1,500 date farmers in 18 villages on best agriculture practices.”
The director explained that this contributed to achieving an extra 250 Saudi Date Mark, ensuring compliance with the NCPD standards.
“We aim for 70 percent of AlUla dates to be accredited and certified by 2035,” Al-Hameid said.
“The Integrated Pest Management program ensures the health and economic viability of date farms. In 2024, approximately 2 million date palm trees have been surveyed and managed as per international pest control standards to ensure compliance with demand for high-quality dates that match food safety requirements,” he added.
Another key area is achieving research and innovation excellence in Barni production, while expanding processing capabilities and diversifying product portfolio are also in focus.
“RCU is developing two advanced processing facilities (Farmers Hubs) for AlUla dates, focusing on enhancing the value of by-products and creating new value-added products for lower-quality dates to maximize value,” he concluded.
