Your Weekly Round Up

YOUR WEEKLY ROUNDUP

In case you missed this week’s latest developments in the growth of Saudi Arabia we’ve compiled the best articles for you.

In Today’s Edition:

• EA Announces Agreement to be Acquired by PIF, Silver Lake, and Affinity Partners for $55 Billion

• Saudi Central Bank Approves Using “Visitor ID” to Open Bank Accounts in Saudi Arabia

• Saudi Arabia Freezes Rents in Riyadh for the Next 5 Years

• Saudi Stocks Surge to 5-Year High on Reports of Foreign Ownership Rule Changes

• Today’s Newsletter’s Sponsor

THE PIF

✨EA Announces Agreement to be Acquired by PIF, Silver Lake, and Affinity Partners for $55 Billion

This definitive agreement to acquire Electronic Arts (EA) for $55 billion is set to be the largest all-cash leveraged buyout and largest sponsor take private investment in history.

Key Takeaways:

• The deal values EA at $55 billion and offers shareholders $210 per share in cash, representing a 25% premium over the stock's unaffected price.

• EA will maintain its headquarters in Redwood City, California, and CEO Andrew Wilson will continue to lead the company.

• The transaction is expected to be finalized in the first quarter of fiscal year 2027, subject to regulatory and stockholder approvals.

The all-cash deal, which offers a 25% premium to EA shareholders, represents a record-breaking private equity investment. Read more

ECONOMY

✨Saudi Central Bank Approves Using “Visitor ID” to Open Bank Accounts in Saudi Arabia

The Saudi Central Bank (SAMA) has officially approved the use of the "Visitor ID," issued by the Ministry of Interior, as a valid form of identification for non-residents to open bank accounts in Saudi Arabia.

Key Takeaways:

• The Saudi Central Bank (SAMA) sanctioned the use of the "Visitor ID" as an official identification document for opening bank accounts for visitors.

• The Visitor ID, issued by the Ministry of Interior, is designed to simplify the identification process for non-residents seeking financial services.

• This initiative streamlines banking procedures by reducing the need for extensive documentation, resulting in faster processing times and enhanced financial accessibility for visitors.

The Saudi Central Bank has approved the use of the Ministry of Interior's "Visitor ID" as sufficient identification for non-residents to open bank accounts in the Kingdom. Read more

REAL ESTATE

✨ Saudi Arabia Freezes Rents in Riyadh for the Next 5 Years

This landmark move is a direct response to soaring rental prices in the capital, driven by rapid urban development and population growth associated with the Saudi Vision 2030 projects.

Key Takeaways:

• For a five-year period, landlords in Riyadh are prohibited from increasing the total rental value on both existing and new residential and commercial contracts.

• All leases must be registered on the government's digital Ejar platform to ensure transparency and legal validity.

• Violations of the new rules are subject to strict penalties, including fines of up to 12 months' rent plus compensation for affected tenants.

Saudi Arabia has enacted a five-year freeze on all residential and commercial rent increases in its capital, Riyadh, to stabilize the rapidly inflating property market. Read more

INVESTMENT

✨ Saudi Stocks Surge to 5-Year High on Reports of Foreign Ownership Rule Changes

The benchmark Tadawul All-Share Index surged by over 5% in a single day, recording its largest gain in five years and prompting a nearly 200% increase in trading volume.

Key Takeaways:

• The proposed reforms are reportedly being considered for implementation before the end of 2025.

• The Tadawul All-Share Index (TASI) jumped by over 5% to reach a five-year high, with daily trading volume reaching approximately $3.86 billion.

• The surge is attributed to reports that the Kingdom is preparing to eliminate the existing 49% limit on foreign ownership in publicly listed firms.

Saudi Arabia's stock market experienced its sharpest rally in five years, with the Tadawul All-Share Index soaring over 5%, following news that the government is considering removing the 49% cap on foreign ownership of listed companies. Read more

This Newsletter Is Sponsored by Welcome Saudi

The No. 1 Travel Website To Discover The Best Hotels, Restaurants & Tourist Destinations in Saudi Arabia