Saudi Energy posted H1 2026 revenue up 11% to SR52 billion and net income up nearly 8% to SR6.7 billion, though Q2 net profit fell 7% on higher finance costs. Capital expenditure reached SR39 billion, up 6%. The customer base hit 11.6 million, with more than 47,000 added in Q2; the distribution network grew 5%, transmission 4% and fibre-optic lines 7%. The stock is up over 25% year to date.
47,000 new connections in three months is roughly 500 a day, paid for with capex running near six times profit, the grid is being built ahead of the country that will eventually fill it.
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A thousand ideas, four winners
The Start Smart competition concluded its 9th edition at LEAP 26 and launched its 10th, having drawn more than 1,000 submissions from which 40 ideas participated and 4 startups won: Nazra in healthcare data analytics, Findligent in smart retail, and ApolloByte in cloud design and Jamaa in collaborative commerce tied for third. Participants went through a 2-month training programme, and the tenth edition runs 4 tracks. The competition launched in 2016 and is organised by the Jameel Community Arabia Foundation with the National Program for Information Technology Development, the Digital Leadership Center and the Savola Foundation.
Receiving over 1,000 submissions and narrowing them to 40, then to 4, demonstrates an effective selection process. The primary value of a program like this lies in the top 40, rather than just the final winners.
Fifty-seven studies, twelfth session
The Riyadh Economic Forum will hold its 12th session on 12–14 October 2026 at the Riyadh International Convention and Exhibition Center, with ministers, public and private sector specialists, academics and business owners participating. The forum has presented more than 57 economic studies over its history, many of which became government initiatives and decisions.
if you want policy input rather than policy news, October is the window. Submissions and positioning happen before the session, not during it, so start now.
Twenty kilometres at Khafji
The Public Investment Fund launched Gulf Coast Development to build an integrated tourism and residential destination at Al-Khafji covering approximately 20 square kilometres with 10 kilometres of Arabian Gulf waterfront. The plan runs to 8 residential neighbourhoods, more than 16,000 housing units and around 1,400 hotel keys across 3 main phases, with 3 neighbourhoods in the first phase completing in 2030, plus public, commercial, tourism and educational facilities and boat marinas, targeting visitors from Saudi Arabia, Kuwait and the wider Gulf.
This project is based on 16,000 homes instead of 1,400 hotel rooms. If you are selling here, focus on residential supply and Kuwaiti buyers from abroad, not on hospitality procurement.
