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Latest Signals
Short observations on markets, growth, technology, and decision-making.
$13 million a megawatt
S&P Global put the average cost of building a data centre in Saudi Arabia at $13 million per megawatt as of August, the same as North America, against $12 million in Europe and $11 million in the UAE. Consultancy Currie & Brown says data centre build costs in the Middle East could rise 10% this year as shipping disruption raises freight and insurance costs.
Build costs are now as high as those in the most expensive markets. If you’re a hyperscaler sales lead working with Saudi clients, focus your pitch on latency and data residency instead of cost.
Now the burger chain discloses
The 2027 electricity tariff disclosures have reached consumer-facing companies. Burgerizzr expects about a 1% rise in annual cost of revenue. National Gypsum expects annual production costs to rise about 1%. Watani Steel expects total cost of sales to rise 1.12%. National Building & Marketing expects its subsidiary Ajeej Steel's energy costs to rise about SAR 3.5 million from 2027.
When a restaurant chain reports the same 1% as a gypsum plant, it shows that the tariff change is affecting every part of the economy that uses power, not just heavy industry.
Ten banks, SAR 73.58 billion
Combined nine-month net profit at the 10 banks listed on the main market rose 6.84% to SAR 73.58 billion, from SAR 68.87 billion a year earlier. Al Rajhi led with SAR 20.87 billion, up 13.3%, ahead of SNB at SAR 19.48 billion, up 4.57%. Q3 profit alone rose 4.8% to SAR 24.75 billion, and SNB's Q3 was down 0.29%.
Nine-month growth of 6.84% has slowed to 4.8% in Q3. The sector is still growing, but momentum is fading. If you manage strategy at a mid-sized Saudi bank, focus on leading in a specific segment instead of trying to match Al Rajhi's balance sheet.
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0.58% → 1.8%
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