Saudi Arabia’s Gemstones and Jewelry Sector to Receive $186 Million in Investments

Saudi Arabia’s gemstones and jewelry sector is expected to attract investments totaling SR700 million ($186 million) over the next five years, led by Al-Safa Group, officials said. The investment plan will focus on expanding manufacturing capabilities, establishing training institutes, and enhancing retail and wholesale networks across the kingdom.

Ali Batarfi, vice chairman of the National Committee for Precious Metals at the Makkah Chamber of Commerce and CEO of Al-Safa Group, told Al-Eqtisadiah that the investment will support the creation of multiple factories and training facilities in Jeddah starting in 2026. The plan also includes a gold refinery, advanced jewelry production units, and an education and research center aimed at fostering talent in the sector.

Speaking at the opening of the “Jewel of Saudi Arabia 2025” exhibition, Abdulkarim Kolthody, general manager of Al-Safa Group, said the initiative seeks to expand the company’s presence in Saudi Arabia through wholesale and retail channels. The exhibition, which opened on December 15 and runs until December 17, offers a platform for networking and showcasing brands from around the world.

The company plans to implement its strategy in phases, beginning in Jeddah, followed by Riyadh and the Eastern Province. An additional 15 retail branches are expected to open across other regions over the coming years. Kolthody added that the training institute in Jeddah will provide high-level courses in refining, production, and retail management, aiming to develop a new generation of Saudi professionals in the industry.

Covering over 10,000 square meters, the exhibition features 250 exhibitors, including local and international companies specializing in high-end jewelry, watches, and rare gemstones. The event promotes innovation and creativity while encouraging collaboration between leading global and regional firms.

The initiative aligns with Saudi Arabia’s broader efforts to diversify its economy and strengthen the local manufacturing and education sectors. By investing in infrastructure, training, and retail expansion, Al-Safa Group and its partners aim to position the kingdom as a regional hub for gemstones and jewelry.

Kolthody emphasized that the project supports both industry growth and talent development, helping Saudi Arabia build expertise in refining, manufacturing, and retail services. The exhibition also serves as a platform for knowledge exchange, allowing local businesses to engage with international experts and showcase the latest designs and technologies in the sector.

With sustained investment and strategic expansion, the Saudi jewelry market is poised to attract global attention while creating new opportunities for professionals and entrepreneurs across the kingdom.