The following is a summary of all announcements from the past month regarding investment deals, partnerships, and other commercial news between U.S. and Saudi companies.
Construction & Real Estate
Parsons Corporation (NYSE:PSN) announced that the company has been awarded a $53 million, three-year contract by the Royal Commission for Riyadh City in Saudi Arabia for program management office services on its Main and Ring Roads Program.
Parsons Corporation is a member of the U.S.-Saudi Business Council.
Investment
J.P. Morgan Chase & Co. is a member of the U.S.-Saudi Business Council.
Alpaca, a brokerage infrastructure technology company and self-clearing broker-dealer delivering execution and custody solutions for Stocks, ETFs, and Options that support hundreds of financial institutions worldwide, today announced a new strategic partnership with Derayah Financial, a leading financial services firm and the first digital investment platform in Saudi Arabia, to further expand financial accessibility in the Middle East.
Health & Pharmaceuticals
Vertex, Saudi Arabia Ink Memorandum of Understanding to Boost Local Gene Therapy Manufacturing
Two Saudi Arabian agencies signed on with Vertex Pharmaceuticals to help boost the country’s gene therapy production capabilities during the first CPhI (Convention on Pharmaceutical Ingredients) event held in the Middle East. The Vertex agreement, which is expected to generate $266 million within the country over the next five years, is part of the country’s plan to make itself a global biotech hub.
ICT
Apple Announces Apple Retail Expansion in Saudi Arabia
Apple has announced plans to expand in the Kingdom of Saudi Arabia, starting with the launch of the Apple Store online in summer 2025. Starting in 2026, Apple will begin opening the first of several flagship Apple Store locations in Saudi Arabia.
Legal
Pillsbury Announces Intent to Open in Riyadh
Pillsbury Winthrop Shaw Pittman LLP has announced its intention to launch an office in Riyadh, Saudi Arabia, following its recent filing of required paperwork with the Saudi Ministry of Justice. While the license is still pending, Pillsbury intends to partner with local firm AlArfaj & Partners to establish its on-the-ground presence upon approval.
Education
First American-based International School Operator in Saudi Arabia Capital is Announced
International Schools Services (ISS) has been selected as the first American-based International School Operator (ISO) in Riyadh, Saudi Arabia. The first ISS International School in Riyadh is planned to open in 2026.
