KSA This Week: 1,600+ Foreign Contractors Enter the Market, Maaden's Profit Jump, and PIF's $2bn Deal
This week from the Kingdom: more than 1,600 foreign contractors have now entered the Saudi market — among some 140,000 registered firms — as the contracting pipeline heads toward SR3 trillion. Mining champion Maaden lifted second-quarter profit 13 percent, Saudi Energy grew first-half revenue 11 percent, and PIF signed a $2 billion infrastructure deal with I Squared. Industrial investment topped $20 billion with more than 1,660 new factory licences, ACWA Power and partners advanced 15 gigawatts of new solar and wind, AI-tool adoption more than doubled to 45.2 percent, and the Saudi Chambers and Bankruptcy Commission signed an 'early warning' MoU for businesses. A new Nitaqat phase is also raising Saudisation targets. Here is what matters for employers and businesses in Saudi Arabia.
Projects & Contracting
|
1,648 foreign contracting firms that have entered the Saudi market (of ~140,000 total) |
The number of foreign contracting companies that have entered the Saudi market has reached 1,648 since the Saudi Contractors Authority was established, while the total number of local and foreign contractors registered with the authority now stands at about 140,000, according to figures reported by Al-Eqtisadiah.
The contracting sector contributes roughly 8 percent of GDP, and the value of its projects is expected to exceed SR3 trillion ($800 billion) over the next three years, the authority's chairman said. Contracting activity has grown about 40 percent this year, with some 200,000 companies operating in the market, supported by Vision 2030, Expo 2030 and the 2034 World Cup.
Building and construction led new project launches, followed by water, energy and infrastructure.
|
The TASC Take A contracting pipeline heading toward SR3 trillion — with thousands of local and foreign firms competing — means enormous, sustained demand for engineers, project managers, skilled trades and support staff. Mobilising and payrolling those teams at speed, and Saudisation-compliant, is exactly what TASC does. |
Source: Arab News
Mining
|
13% rise in Maaden's Q2 2026 net profit, to SR2.18 billion |
Saudi Arabian Mining Company (Maaden) reported a 13 percent rise in second-quarter net profit to SR2.18 billion ($574 million), with revenue up 16 percent to SR10.9 billion, driven by higher commodity prices and stronger gold and aluminium sales. First-half net profit reached SR3.81 billion.
The results come as Maaden presses ahead with a long-term expansion estimated at around $110 billion, part of Saudi Arabia's push to make mining a 'third pillar' of the economy alongside oil and petrochemicals under Vision 2030. The Kingdom is opening up an estimated $2.5 trillion in mineral wealth to investment.
A scaling mining sector means sustained demand for engineers, technicians, operators and support roles across the regions.
|
The TASC Take As mining scales into a third pillar of the economy, demand grows for engineers, technicians, operators and support staff — much of it under Saudisation. Sourcing, mobilising and payrolling those teams is exactly where TASC helps. |
Source: TradeArabia
Energy & Utilities
|
SR52bn Saudi Energy's H1 2026 revenue, up 11% year on year |
Saudi Energy, the utility formerly known as Saudi Electricity Company, reported an 11 percent rise in first-half 2026 revenue to more than SR52 billion ($14 billion), lifting net income nearly 8 percent to SR6.7 billion. Growth was driven by an expanding customer base and higher income from building substations and transmission lines.
The utility is investing heavily in generation and grid capacity to meet rising demand across the Kingdom's cities, industry and giga-projects, and to connect new renewable capacity to the network.
Continued grid expansion sustains demand for engineering, construction, operations and maintenance teams nationwide.
|
The TASC Take Grid and generation build-outs need engineers, project teams and O&M staff at scale. Helping utilities and their contractors hire and mobilise those teams compliantly is core to what TASC does. |
Source: AGBI
Labour & Saudisation
|
340,000 private-sector jobs the new Nitaqat phase aims to localise for Saudis by 2029 |
Saudi Arabia's Ministry of Human Resources and Social Development is running a new three-year phase of the Nitaqat (Saudisation) programme, targeting more than 340,000 additional private-sector jobs for Saudi men and women by 2029. It raises targets across most economic activities, with profession-specific quotas tightening the rules.
Recent quotas include 70 percent Saudisation across procurement roles, 60 percent in marketing and sales, full localisation of 69 administrative support professions, and 30 percent in engineering with a SR8,000 minimum salary. Saudisation is increasingly assessed at entity level and tied to digital contracts on the Qiwa platform, while the old 'Yellow' non-compliance band has been removed.
For employers, ratios, professions and contracts must be planned together and kept current.
|
The TASC Take Higher, profession-by-profession quotas raise the stakes on Saudisation. Employers need a clear read on their ratios, the right Saudi hires, and clean Qiwa documentation — precisely the recruitment, payroll and PRO support TASC provides. |
Source: Arab News
Investments
|
$2bn value of the PIF–I Squared MoU for digital infrastructure and district cooling |
Saudi Arabia's Public Investment Fund (PIF) signed a memorandum of understanding with US-based global infrastructure manager I Squared Capital to explore up to $2 billion of investment — up to $1 billion each in digital infrastructure and district cooling across the Kingdom.
The agreement aligns with PIF's 2026-2030 strategy, which prioritises domestic investment, private-sector participation and partnerships with international investors. Digital infrastructure — data centres and connectivity — and district cooling are both fast-growing segments tied to Saudi Arabia's urban and technology expansion.
As PIF channels more capital into infrastructure, the pipeline of construction, engineering and operations work — and the hiring behind it — continues to build.
|
The TASC Take Fresh infrastructure capital converts into projects — and projects into hiring across engineering, construction and operations. Mobilising and payrolling those teams quickly and compliantly is exactly what TASC does. |
Source: Arab News
Industry & Manufacturing
|
1,660 new industrial licences issued, alongside $20.3bn of industrial investment |
Saudi Arabia has attracted more than SR76 billion ($20.3 billion) in industrial-sector investment and issued over 1,660 new industrial licences, underscoring momentum in manufacturing as the Kingdom diversifies beyond oil. The Ministry of Industry and Mineral Resources has also highlighted an estimated $2.5 trillion in untapped mineral wealth to draw miners and manufacturers.
Industry and mining are central to Vision 2030's push to build a broader productive economy, from metals and machinery to advanced manufacturing. New factories and processing plants create long-term skilled and semi-skilled employment across the regions.
For employers, standing up new industrial operations means hiring and localising teams quickly and compliantly.
|
The TASC Take Every new factory and plant needs a workforce built and localised fast. Recruiting, payrolling and mobilising industrial teams under Saudisation is exactly where TASC adds value. |
Source: Arabian Business
Energy & Renewables
|
15 GW of solar and wind capacity in seven projects worth around $8.3 billion |
Saudi Arabia is pressing ahead with one of its largest renewable-energy pushes yet, as ACWA Power, PIF-owned Badeel and Aramco subsidiary SAPCO develop seven solar and wind projects worth around $8.3 billion. Together they will add 15,000 MW of capacity — 12 GW of solar and 3 GW of wind — with plants including Bisha, Humaij, Khulis and Afif, plus the Starah and Shaqra wind farms.
The projects support the National Renewable Energy Programme and the goal of sourcing half of Saudi Arabia's power from renewables by 2030, much of it delivered through PIF.
Building and operating utility-scale solar and wind creates sustained demand for engineering, construction and operations teams across the regions.
|
The TASC Take Utility-scale solar and wind build-outs need engineering, construction and operations teams across remote sites. Mobilising and payrolling that workforce compliantly is exactly what TASC does. |
Source: Zawya
Technology & AI
|
45.2% of Saudi internet users adopted AI tools in 2025 — more than double the prior year |
Adoption of artificial intelligence tools among internet users in Saudi Arabia more than doubled in 2025 to 45.2 percent, according to the Communications, Space and Technology Commission's Saudi Internet Report. Usage was highest among those aged 20 to 29 (55.7 percent), and higher among women (52.8 percent) than men (39.4 percent).
Business adoption is rising too: 33.1 percent of Saudi establishments used AI in 2025, up 20 percent year on year, led by the ICT, finance and education sectors. Internet penetration reached 99.6 percent, with mobile-data use triple the global average.
The surge comes as the Kingdom marks 2026 as its 'Year of AI' and targets more than 20,000 data and AI specialists and $20 billion of investment by 2030.
|
The TASC Take Rapid AI adoption and a target of 20,000+ AI specialists mean sharp demand for data, AI and digital talent, plus upskilling of existing teams. Sourcing scarce tech talent and scaling teams compliantly is where TASC helps employers. |
Source: Arab News
Business & Regulation
|
Early warning new MoU to help Saudi private-sector firms spot financial distress before it escalates |
The Federation of Saudi Chambers and the Bankruptcy Commission have signed a memorandum of understanding to strengthen the Kingdom's 'early warning' initiative, which helps private-sector businesses identify signs of financial distress and act on them early.
The partnership aims to promote business sustainability and a more efficient business environment, using the chambers' national network to reach companies across the Kingdom with awareness programmes, research and preventive tools that support business continuity.
The move is part of a wider push to deepen public-private cooperation and strengthen the competitiveness of the economy under Vision 2030.
|
The TASC Take A healthier, more resilient private sector keeps hiring and investing. When businesses stay stable and compliant, they can focus on growth and on building the right teams — where TASC supports employers with flexible, compliant staffing and payroll. |
Source: Arab News
TASC in Saudi Arabia
Staffing Saudi Arabia's fast-growing private sector
From a scaling mining and industrial base to record investment and new renewable capacity — alongside tighter labour rules like the unified Qiwa contract and rising Saudisation — employers in the Kingdom need Saudi-ready hiring, payroll, GOSI, WPS and PRO, quick and fully compliant. TASC helps you build and mobilise the right team across Saudi Arabia.
TASC Outsourcing — People for Tomorrow. Contract staffing, permanent hiring, payroll and EOR across Saudi Arabia.
Contact us · tascoutsourcing.com
