Saudi Arabia’s gemstones and jewelry sector is set to attract SR700 million ($186 million) in investments over the next five years. Led by Al-Safa Group, these investments will help establish new manufacturing facilities, training institutes, and a gold refinery in Jeddah, starting in 2026. This development forms part of Saudi Arabia’s broader plan to strengthen its presence in the global gemstones and jewelry market.
The Kingdom’s growing investment in the sector aligns with Vision 2030, which emphasizes diversifying the economy and boosting local industries. As a result, the new developments will not only cater to domestic needs but also create significant export opportunities for Saudi jewelry.
Expanding the Jewelry Network Across Saudi Arabia
In addition to these developments, Al-Safa Group plans to expand its wholesale and retail network. Initially, this will begin in Jeddah, followed by Riyadh and the Eastern Province. With the aim of opening 15 new retail branches, the company will increase accessibility to high-quality jewelry across the Kingdom.
Moreover, Al-Safa’s expansion strategy includes creating an education and research center to provide jewelry manufacturing and retail services. By doing so, the company seeks to enhance Saudi Arabia’s local expertise and ensure the jewelry sector’s sustainability.
Developing Saudi Talent for the Jewelry Sector
A crucial component of this investment initiative is the establishment of a training institute in Jeddah. This institute will offer specialized education in jewelry refining, production, and retail, thereby nurturing a new generation of Saudi professionals. Ultimately, this initiative will reduce reliance on foreign talent and foster homegrown expertise within the jewelry sector.
Furthermore, the “Jewel of Saudi Arabia 2025” exhibition, which opened on December 15, serves as a significant platform for showcasing the expanding sector. The exhibition, which will run until December 17, features 250 exhibitors from both local and international firms. By promoting innovation and collaboration, the event encourages growth in the Saudi gemstones and jewelry market.
