THE BASELINE.
THE NUMBER
billion riyals, the quarter's trade surplus
Saudi Arabia's merchandise trade surplus reached SR61.52 billion in the second quarter, a 62% increase from the previous year. While this suggests an export boom, the growth is primarily due to a 5% decline in imports to SR224.46 billion, rather than a significant rise in exports, which increased by only 4% to SR285.98 billion. The surplus expansion mainly reflects reduced imports. Export data covers April through June, and since 12 September, no crude has shipped from Yanbu, with shipments redirected east.
THREE SIGNALS
Digital payments company barq closed a Series A worth more than $329.5 million, the largest Series A round in Saudi Arabia and one of the largest fintech rounds in the region, lifting its valuation to $1.85 billion and taking it into the unicorn club. Its wallet has passed 10 million users after reaching 7 million in its first year of operation, a year in which it recorded more than 500 million transactions worth SAR 73 billion and issued more than 6.5 million digital payment cards, while SAMA Governor Ayman Al-Sayari, speaking at Money20/20, said the number of fintech companies reached 371 by the end of August 2026, digital payments made up 85% of total payments in the Kingdom at the end of 2025, and cumulative fintech investment passed SAR 30 billion by the end of H1 2026.
A wallet that processed SAR 73 billion in its first year and is now valued at $1.85 billion demonstrates what happens when a payment app stops being the one people try and becomes a trusted platform for storing funds.
Mohammed Altuwaijri
The Capital Market Authority decided to require managers of public money market funds to ensure that investments and assets held outside Saudi Arabia do not exceed 5% of a fund's net asset value. All overseas investments must also be with counterparties holding an investment-grade credit rating issued by a licensed credit rating agency, according to a CMA circular to capital market institutions.
Limiting foreign exposure to 5% of net asset value means money market funds are mainly used for domestic funding. This change affects where riyal liquidity is held more than it changes what savers earn.
Abdulrahman Al Mottahar
The Real Estate Registry is targeting coverage of 80% of Saudi properties by 2028, its official spokesman told Al Eqtisadiah, and from 22 September 2026 property transactions in the Hail region and nine cities and governorates in the Eastern Province — among them Dammam, Khobar, Dhahran and Qatif — must be executed through the registry, covering transfers of ownership, subdivision, consolidation, mortgages and the management of rights and restrictions.
Registry coverage is increasingly required for a valid transfer. Developers with land in these cities should confirm registration status as soon as possible, not just at closing.
Osamah Alfadda
THE MOVE
Expo builds the houses first
Expo 2030 Riyadh signed a SR3.2 billion joint venture with Mohammad Al Habib Real Estate to deliver Expo Village, 2,300 homes for about 5,500 residents, connected to the Expo site by Expo Station, King Khalid International Airport and the Riyadh transport network. It is the organiser's first joint venture. (Arab News)
An exhibition organiser's first partnership is a housing estate. Expo 2030 gives overall guidance and sets the needs, while Al Habib handles development, funding, and management. The organiser provides the plan and location; the developer provides the money and makes it happen. This is a lasting setup, not just for the event, as 2,300 homes near a train line to an airport will remain long after visitors leave.
Whether further ventures follow on the same terms, and what becomes of the units after 2030. If you build or supply in Riyadh, the Expo procurement that matters may turn out to be residential.
FROM THE FIELD
We have been named the exclusive partnership sponsor for the 12th Riyadh Economic Forum, 12–14 October, under royal patronage and organized by the Riyadh Chamber. One key point to note if you are considering it: the forum's recommendations are presented to the Royal Court, and many have become government initiatives and decisions. Eleven sessions have produced 57 studies. This one covers five themes, from traffic congestion to water security, and we are choosing partners based on what each one adds. For more info, contact us: sponsorship@impactors.com.sa
