China companies expand in the Middle East
SAIC-GM-Wuling partners UMG to target Saudi market
On April 26, SAIC-GM-Wuling signed a cooperation agreement with United Motors Group (UMG) of Saudi Arabia, marking its official entry into the Saudi market.
As the largest automotive market in the Middle East, Saudi Arabia is undergoing an economic diversification drive under Vision 2030, with demand for cost-effective new energy vehicles said to be growing. Wuling will leverage its strengths in mini electric vehicles and multipurpose commercial vehicles, using UMG’s sales network to expand its brand influence while supporting local industrial upgrading and the country’s energy transition.
Lenovo sets output target for Riyadh factory
On April 27, Lenovo’s president for the Middle East and Africa said the company’s factory in Riyadh will begin its first commercial production this year. The first phase of the project involves an investment of more than SAR 2 billion (USD 5.3 billion) and aims to reach annual production of two million smartphones, laptops, desktop computers, and data servers within 18–24 months.
In the second phase, Lenovo estimates that capacity could rise to eight million units a year, which would make the facility one of its largest overseas factories. The Riyadh factory will serve not only the local market, but also regional and international export markets to shorten supply chain cycles and improve delivery efficiency.
Li Auto enters new markets in APAC and the Gulf
On April 28, Li Auto announced its official entry into the UAE and Saudi Arabian markets, while also launching its Asia Pacific expansion.
Three days prior, Li Auto also signed agreements with Al Fahim Motors in the UAE and Mohamed Yousuf Naghi Motors in Saudi Arabia to introduce its L series to the Middle East market.
Li Auto said the L series is designed to align with the needs of consumers in the Middle East. The company also unveiled its APAC market plan, with sales and service operations to be rolled out gradually from May.
Economic and policy developments
UAE launches industrial resilience fund
The UAE has launched the National Industrial Resilience Fund with a total value of about AED 1 billion (USD 272.3 million), according to Arab News.
The fund aims to strengthen domestic manufacturing capacity, safeguard supply chain security, and promote the use of artificial intelligence in production. The fund will support the localization of critical products, ensure supply continuity, strengthen industrial value chains, and help build strategic reserves.
The government is also working to expand the presence of domestic products across retail and digital platforms to improve consumer awareness.
Dubai Chambers and CBD host corporate banking dialogue
Dubai Chambers and Commercial Bank of Dubai (CBD) jointly hosted an open dialogue with 75 business representatives to discuss corporate financing needs and banking innovation, Zawya reported.
The event was aimed at helping companies respond to shifts in the global economy and improve adaptability. Mohammad Ali Rashed Lootah, chairman of Dubai Chambers, said the organization will deepen cooperation with the banking sector to provide financial services that match companies’ needs, strengthening the resilience and long-term competitiveness of the private sector.
Bernd van Linder, CEO of CBD, said banks need to be more responsive to companies’ actual needs, simplify access to financing, and support businesses as they grow and withstand pressure in a complex environment.
Dubai eases property-linked residency rules to broaden investor access
The Dubai Land Department has removed the minimum property value requirement for investor residency visas and lowered the joint ownership threshold, according to AGBI.
The move aims to make it easier for small and midsize investors to apply for two-year residence visas in the emirate. Individuals were previously required to own property worth at least AED 750,000 (USD 204,220), but that requirement has now been removed. Under joint ownership, each person can apply if their share is worth AED 400,000 (USD 108,918).
The change could expand the pool of eligible applicants, stimulate demand in the mid- and lower-priced housing market, and address pressure from declining sales linked to regional conflicts.
Telecom operator e& posts Q1 growth
UAE telecommunication operator e&, formerly known as Etisalat, reported a 15% year-on-year (YoY) increase in revenue in the first quarter of 2026, reaching AED 19.4 billion (USD 5.3 billion), AGBI said.
The growth was mainly driven by its performance in domestic and international telecom operations and an expanded user base. As of March 31, the group had 248 million total subscribers, up 31% YoY. Group CEO Masood Mahmood said international market diversification helped sustain its growth momentum.
DFM posts 40% increase in Q1 profit
Dubai Financial Market posted a net profit of AED 178 million (USD 48.5 million) in Q1 2026, up about 40% YoY, AGBI reported.
The increase was driven by strong participation from foreign and institutional investors. DFM added 20,700 new investors, 79% of whom came from overseas. Foreign investors contributed 54% of trading value, while institutional investors accounted for 70%. Despite the impact of regional conflicts, trading activity remained broadly active.
Saudi Arabia GDP rises 2.8% in Q1
Saudi Arabia’s real GDP grew 2.8% YoY in Q1 2026, with non-oil economic activity up by 2.8%, according to Saudi Gazette. The figures point to continued progress in economic diversification.
The non-oil sector contributed 1.7 percentage points to overall GDP growth, making it the primary driver. The data indicate that Saudi Arabia has maintained financial resilience and economic stability despite regional conflicts, with the non-oil economy supporting national growth and contributing to longer-term diversification efforts.
Saudi advances data center and localization efforts
Saudi Arabia’s Ministry of Investment and the Shareek program have signed two agreements with Saudi Energy and Dawiyat to support the development of a tier-three data center, Arab News reported.
The initiative aims to strengthen digital infrastructure and data localization capabilities as part of broader efforts to attract high-value investment, expand advanced ICT infrastructure, accelerate integration of the digital economy, and reinforce Saudi Arabia’s position as a regional data center hub.
Saudi banking sector posts record profits
Saudi Arabia’s ten listed banks reported combined net profits of SAR 23.95 billion (USD 6.4 billion) in Q1 2026, up 7.6% YoY, Arab News said, citing banking data.
Major contributors include Al Rajhi Bank, Saudi National Bank, and Riyad Bank. Analysts said the main drivers included high interest rates, financing for major projects, improved asset quality, and government spending under Saudi Vision 2030. Banking sector profit is expected to exceed SAR 100 billion (USD 26.7 billion) for the full year of 2026.
STC’s latest earnings exceed expectations
The Saudi Telecom Company (STC) reported Q1 2026 net profit of SAR 3.7 billion (USD 986.7 million), up 1.3% YoY and above market expectations of SAR 3.27 billion (USD 872 million), Arab News reported.
Revenue reached SAR 19.9 billion (USD 5.3 billion), the highest quarterly level since 2003. CEO Olayan Al-Wetaid said the company’s strategy has balanced investment in growth with operational efficiency, advancing infrastructure development and digital solutions.
Qatar rolls out support measures for businesses
According to The Peninsula, Qatar has introduced a package of targeted support measures to stabilize the market and strengthen investor confidence.
The main measures include support of up to 40% for eligible local spending through Invest Qatar’s national incentive program. The program has reportedly helped generate about QAR 2.8 billion (USD 769.2 million) in investment and create more than 900 jobs.
Meanwhile, the Qatar Financial Centre and Qatar Free Zones Authority have introduced policies including rent relief, deferred payments, and lease extensions, while offering compliance flexibility for reporting and tax filings.
Officials said the measures will continue to be assessed and optimized in response to an uncertain environment.
Qatar customs authority adopts agentic AI
Qatar’s General Authority of Customs has announced the introduction of agentic artificial intelligence into its AI Nadeeb system to advance digital transformation and build a smarter, more efficient customs ecosystem, Gulf Times reported.
The technology reportedly goes beyond traditional execution models by enabling end-to-end workflow integration, strengthening anomaly detection and risk identification capabilities, advancing data-driven decision-making, and creating a proactive compliance model while maintaining human oversight.
Media City Qatar partners IAMT
According to Gulf Times, Media City Qatar partnered with the International Association of MediaTech (IAMT) to strengthen the emirate’s position as a regional hub for media production, content creation, and broadcast technology.
Through IAMT’s global platform and international events, Media City Qatar will gain broad exposure and increase its visibility among decision-makers across the global media supply chain.
Media City Qatar CEO Hamad Omar al-Mannai said the move will expand the organization’s global network resources, attract international media and technology companies to Qatar, and accelerate the development of the country’s media ecosystem in line with Qatar National Vision 2030.
Ooredoo reports growth in Q1
Ooredoo Group reported Q1 net profit of QAR 1 billion (USD 274.7 million) in Q1 2026, up 4.7% YoY, while revenue rose 6% to QAR 6.2 billion, Gulf Times reported.
The group said that its diversified footprint and digital infrastructure development supported its performance, including its fiber networks, the Syntys platform, and the Qatar TowerCo project.
Ooredoo’s total customer base reportedly reached 147.1 million, reflecting continued expansion and market resilience.
This article was adapted based on a feature originally written and published by Al Shasia. KrASIA is authorized to translate, adapt, and publish its contents.
Note: AED, QAR, and SAR figures are converted to USD at rates of AED 3.67 = USD 1, QAR 3.64 = USD 1, and SAR 3.75 = USD 1, based on estimates as of May 5, 2026, unless otherwise stated. USD conversions are presented for ease of reference and may not fully match prevailing exchange rates.