Saudi Arabia To Welcome Google Pay In 2025 As Part Of Vision 2030

by THEFUTURE.TEAM

January 17, 2025

Google Pay is preparing for its launch in Saudi Arabia in 2025, offering users a secure and convenient way to make payments in stores, apps, and online. This move follows the signing of an agreement between Google and the Saudi Central Bank (SAMA), which will see Google Pay integrated into the national payment system, mada.

The partnership aligns with SAMA’s ongoing initiatives to strengthen the Kingdom’s digital payment ecosystem as part of Saudi Arabia’s Vision 2030. This commitment aims to reduce the reliance on cash and promote the adoption of advanced digital payment solutions that adhere to international standards.

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AI Hub To Boost Saudi Arabia’s Tech Ecosystem

In addition to Google Pay, the tech giant revealed plans in October 2024 to establish an advanced Artificial Intelligence (AI) hub in Saudi Arabia. This move is designed to contribute to the nation’s economic growth and technological advancement, aligning with Vision 2030’s goal to diversify the economy through technology.

The AI hub is expected to generate up to $71 billion for the Saudi economy. This figure highlights the significant potential of advanced AI applications in sectors like healthcare, retail, and finance, not only in Saudi Arabia but across the Middle East, Africa, and beyond. According to Ruth Porat, President and Chief Investment Officer of Google and Alphabet, the hub will fast-track AI integration, particularly in Arabic, to meet the specific needs of the region.

Collaboration With Local Stakeholders To Drive Industry Innovation

The AI hub is the result of collaboration between Google and key stakeholders in Saudi Arabia’s technology and investment sectors. It will focus on developing AI-powered solutions tailored to industries such as oil and gas, finance, healthcare, and logistics, helping to optimize processes and enhance economic resilience.

Yasir Al Rumayyan, Governor of Saudi Arabia’s Public Investment Fund (PIF), emphasized that this partnership demonstrates the PIF’s commitment to building a tech-friendly ecosystem, investing in human capital, and equipping Saudi professionals with advanced tools for sustainable development.

Fostering Local Talent And Entrepreneurship

Central to this initiative is the focus on nurturing homegrown talent. The AI hub will offer training programs, research opportunities, and platforms for local developers, researchers, and startups, potentially benefiting millions of people. This ecosystem will not only drive innovation but also foster entrepreneurship, ensuring that economic benefits are felt throughout the Kingdom.

As global tech leaders shift their focus to localized solutions, Google’s initiative exemplifies a forward-looking approach that taps into regional strengths. With the AI hub’s potential to contribute billions to the economy and boost digital capabilities, Saudi Arabia is well-positioned to become a regional leader in AI innovation.

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Cyprus Residential Market Surpasses €2.5 Billion In 2025 With Apartments Leading the Way

by THEFUTURE.TEAM

February 16, 2026

Market Overview

In 2025, Cyprus’ newly built residential property market achieved a remarkable milestone, exceeding €2.5 billion. Data from Landbank Analytics indicates robust activity countrywide, with newly filed contracts reaching 7,819, including off-plan developments. This solid performance underscores the market’s resilience and dynamism across all districts.

Transaction Breakdown

The apartment sector clearly dominated the market, constituting 81.6% of transactions with 6,382 deals valued at €1.77 billion. In contrast, house sales represented a smaller segment, encompassing 1,437 transactions and generating €737.9 million. The record-high transaction was noted in Limassol, where an apartment sold for approximately €15.2 million, while the priciest house fetched roughly €6.2 million.

Regional Analysis

Nicosia: The capital recorded steady domestic demand with 2,171 new residential transactions. Apartments accounted for 1,836 deals generating €349.6 million, compared to 335 house transactions worth €105.5 million, anchoring Nicosia as a core market with average values of €190,000 for apartments and €315,000 for houses.

Limassol: As the island’s principal investment center, Limassol led overall activity with 2,207 transactions. Apartments dominated with 1,936 sales generating €824.1 million, while 271 house transactions added €157.9 million. The district enjoyed premium pricing, with apartments averaging over €425,000 and houses around €583,000.

Larnaca: This district maintained robust activity with a total of 2,020 transactions. The apartment segment realized 1,770 transactions worth €353 million, and houses contributed 250 deals valued at €96.3 million. Average prices hovered near €200,000 for apartments and €385,000 for houses, positioning Larnaca within the mid-market bracket.

Paphos: With a more balanced mix, Paphos completed 1,078 transactions. Ranking second in overall value at €503.2 million, the district saw house sales generate €287.8 million and apartments €215.4 million. Consequently, Paphos achieved the highest average house price at approximately €710,000 and an apartment average of €320,000, emphasizing its premium housing profile.

Famagusta: Distinguished by lower transaction volumes, Famagusta was the sole district where house sales outnumbered apartment deals. Out of 343 transactions, 176 involved houses (yielding €90.4 million) and 167 were apartments (at €32.4 million). The segment’s average prices were about €194,000 for apartments and over €513,000 for houses, signaling its focus on holiday residences and coastal developments.

Sector Insights and Forward View

Commenting on the report, Landbank Group CEO Andreas Christophorides remarked that the analysis demonstrates an ecosystem where apartments are the cornerstone of the real estate market. He emphasized, “The apartment sector is not merely a trend; it is the engine powering the country’s real estate market.” Christophorides also highlighted the diverse regional dynamics: Limassol leads in apartment pricing, Paphos commands premium house prices, Nicosia remains pivotal to domestic demand, Larnaca sustains competitive activity, and Famagusta caters to holiday home buyers.

In a market characterized by these varied profiles, informed monitoring of regional and sector-specific dynamics is crucial for investors aiming to make targeted and strategic decisions.

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