Investment

Siemens Energy has been awarded a significant contract worth $1.5 billion to supply key components for two state-of-the-art gas-fired power plants in Saudi Arabia. The agreement also encompasses a 25-year service period for maintenance, indicating a robust commitment to strengthening the kingdom's power generation capabilities. The power facilities in question, named Taiba 2 and Qassim 2, are poised to become...

Saudi Arabia is on track to clinch the title of the leading construction market worldwide, with substantial financial investments channeled into initiatives designed to revolutionize and broaden the scope of its economy. This development has been identified by Knight Frank, a global real estate consultancy firm.The nation's overall value of construction output is projected to soar to $181.5 billion by...

The Kingdom of Saudi Arabia's Minister of Investment, Khalid Al Falih, shared promising updates at a gathering in London, revealing significant headway in the country's ambitious Vision 2030 development strategy. Not only is the plan well underway, but it is also progressing faster than anticipated.During his address at the UK-Saudi Sustainable Infrastructure Forum, Al Falih expressed satisfaction with the current...

In the aftermath of the global pandemic, Saudi Arabia has emerged as a leading destination for foreign direct investment (FDI) in the region of West Asia, with an impressive influx of $65.1 billion over a span of three years, up to and including 2023. This achievement places the Kingdom prominently among the top FDI recipients in the area. Based on...

In a significant move to enhance its operational efficiency, King Abdulaziz Port in Dammam has acquired three quay cranes (QC) with automated operation capabilities and three rubber-tired gantry cranes (RTG). This acquisition, facilitated by the port's strategic partner Saudi Global Ports (SGP), the two container terminals' operator, marks a considerable advancement in the port's infrastructure. The addition of these state-of-the-art...

The cornerstone of Saudi Vision 2030 is the expansion and fortification of the kingdom's financial sector, with a prominent aim to heighten the role of international investors in Saudi capital markets.This discourse delves into the transformative journey of Saudi Arabia's equity market over the past five years following its integration into the MSCI Emerging Markets (EM) Index, exploring the potential...

China has given the green light to its maiden exchange-traded funds (ETFs) that will focus on Saudi Arabian equities, indicating a strategic expansion of its ties with the Middle East amidst escalating frictions with Western nations. This approval was granted on Friday, June 14, as reported by fund managers.The new financial products, managed independently by Huatai-Pinebridge Investments and Southern Asset...

In an effort to reduce its dependency on petroleum, the Kingdom of Saudi Arabia (KSA) is now setting its sights on the metals sector, which is anticipated to elevate domestic nickel usage and underwrite global mining ventures. This move aligns with substantial investments in industries that are intensive users of nickel.Recognizing mining as a critical sector for its future, Saudi...

China has marked a significant shift in its investment strategy by authorizing its inaugural exchange-traded funds (ETFs) that focus on Saudi Arabian equities. Fund managers have indicated that this move is an extension of China's efforts to strengthen relations with Middle Eastern nations amid a backdrop of increasing tension with Western countries.Managed by Huatai-Pinebridge Investments and Southern Asset Management, these...

Renowned Swiss banking institution Edmond de Rothschild Group is poised to broaden its reach within Saudi Arabia by inaugurating a new office and establishing a funding platform dedicated to infrastructure projects, as announced by the bank.The initiative is anticipated to contribute to Saudi Arabia's ambitious Vision 2030 blueprint, which is designed to diversify the nation's economy beyond its traditional reliance...

In a warm appeal to global investors, the Tourism Minister of Saudi Arabia, Ahmed Al-Khateeb, has made a compelling case for investment in the Kingdom's rapidly expanding tourism industry. Addressing attendees at the Future Investment Initiative Institute's Priority Rio de Janeiro Summit, Al-Khateeb shed light on the significant growth prospects powered by the nation's strategic economic reform program, Vision 2030.While...

The Saudi Arabia’s Public Investment Fund (PIF) is in the midst of negotiations with significant figures in the boxing industry to set up a league, which could significantly alter the competitive dynamics of the sport.What Happened: Discussions are being held between the PIF and a number of influential boxing promoters, such as Matchroom Boxing and Golden Boy Promotions, with the...

Investment Spotlight on Saudi Aramco’s Latest Share OfferingSaudi Arabia has made a striking move in the global investment scene by releasing a new batch of shares for its oil giant, Aramco, which garnered considerable international capital. This recent development marks a stark contrast to the tepid interest observed five years prior.International Investors Jump on Aramco SharesInvestors from a diverse array...

Separated by vast distances, the arid landscape of Saudi Arabia and the verdant expanses of Brazil are drawing closer on the economic front. Their evolving partnership, originating from poultry trade in the 1970s, is now a strategic move to diversify trade relations and buffer against geopolitical volatility.While the US and China remain major trading partners for both nations, Saudi-Brazilian trade...

Patria Investments Ltd., a prominent player in the alternative asset management space within Latin America, is actively pursuing the expansion of its portfolio companies into Saudi Arabia. This strategic move is aimed at capitalizing on the business-friendly initiatives of the kingdom, particularly those encapsulated in the ambitious Vision 2030 strategy.Key enterprises under Patria's umbrella, such as the fitness chain Smartfit...

Stake, a frontrunner in the digital real estate investment sphere, has recently secured a substantial $14 million in a funding endeavor.Leading the investment round was Middle East Venture Partners (MEVP), with notable contributions from entities such as Aramco’s Wa’ed Ventures, Mubadala Investment Company, Al Jomaih Holding, and Republic, a prominent private investing firm in the United States.Over the past three...

The Kingdom of Saudi Arabia's mining sector has garnered international recognition for its investment-friendly climate, as indicated in a recent assessment of mining investment risks by MineHutte and Mining Journal Intelligence. The comprehensive database by MineHutte, which evaluates over 100 mining codes, positions the country as a top performer in de-risking mining investments.The World Risk Report 2023 underscores the Kingdom's...

Following the announcement of a secondary share offering poised to garner upwards of $11.2 billion, the value of Saudi Aramco's shares witnessed a notable uptick on the first day of trading thereafter.Opening at SAR27.95 per share, a slight dip from the previous session's close at SAR28.3, the shares quickly rebounded, reaching SAR28.35 by mid-morning. The offering itself was priced at...

The prominent oil company Saudi Arabian Oil Co, known as Saudi Aramco, has recently reported that a substantial portion of its newest share offering has been acquired by international investors, amassing an impressive US$11.2 billion.According to Aramco, The majority of the shares constituting the institutional tranche of the offering was allocated to investors located outside of the Kingdom, with trading...

Saudi Arabia is poised for a major expansion in entertainment amenities, as the Ministry of Investment has partnered with Nowaar Entertainment to establish a series of new entertainment and water-themed parks, with the first anticipated to welcome visitors in Riyadh by 2025.Together with the General Entertainment Authority, the Ministry of Investment (MISA) formalized an arrangement on a recent Sunday with...

In a recent announcement, it was disclosed that Saudi Arabian Oil Company, commonly known as Saudi Aramco, has completed the final allocation of its 1.545 billion shares that were fully marketed. International institutions, which form a part of the institutional tranche, were significant recipients, garnering a stake outside of Saudi Arabia's borders.As it stands, the breakdown of Saudi Aramco's public...

International investors have played a significant role in Saudi Aramco's recent secondary share offering, which is poised to infuse $11.2 billion into the oil behemoth's coffers. This influx of capital is expected to catalyze the funding of expansive projects within Saudi Arabia, such as the construction of resorts and stadiums, which are integral to the country's transformation plan aimed at...

In a recent development from Riyadh, the prominent oil company Saudi Aramco has announced the successful sale of shares, with a substantial portion being acquired by investors beyond Saudi Arabia's borders, amounting to an impressive $11.2 billion capital raise.Before the commencement of trading on the Saudi exchange, Aramco revealed that the institutional tranche of the share offering was predominantly secured...

The Saudi Ministry of Tourism has made a notable appearance at the 46th Annual NYU International Hospitality Investment Conference, where it cast a spotlight on the Kingdom's rapid development and the vast investment opportunities within its burgeoning tourism sector. This gathering served as an ideal backdrop for Saudi Arabia to exhibit its transformative aspirations of becoming a world-leading tourism hub,...

The recent disposition of shares by Saudi Arabia's state-owned oil behemoth, Saudi Aramco, culminated in an $11.2 billion capital influx, though falling short of the potential maximum. The sale's intent to captivate a global investment audience was evident in the international promotional efforts spearheaded by CEO Amin Nasser, which encompassed major financial hubs such as London and New York.Following the...

The 46th Annual NYU International Hospitality Investment Conference recently became the stage for Saudi Arabia’s Ministry of Tourism to highlight the significant progress in its tourism sector and the enticing investment openings this growth presents. As Saudi Arabia endeavors to transition into a premier global tourism destination, the conference was a prime opportunity to demonstrate its advancements and commitment to...

Recent funding rounds in the Middle East and Africa have bolstered the growth of several promising startups in the agritech and fintech sectors. These investments aim to address pressing issues such as food security and financial management.Iyris, a Saudi Arabian agritech firm, has garnered a significant $16 million in Series A funding to tackle food insecurity through innovative SecondSky greenhouse...

Saudi Aramco, the kingdom's oil behemoth, has finalized a colossal stock offering that will inject a minimum of $11.2 billion into Riyadh's coffers. This landmark deal stands as the largest of its kind worldwide in nearly three years and is poised to underpin a comprehensive multi-trillion-dollar plan aimed at overhauling the nation's economy.The government has announced it will offload close...

The world is on the brink of channeling an unprecedented sum exceeding $3 trillion into the energy sector by 2024, as per the International Energy Agency's latest projections outlined in their 'World Energy Investment 2024' analysis. Clean energy initiatives are poised to receive $2 trillion, whereas fossil fuel ventures, encompassing oil, gas, and coal, are expected to secure the remaining...

Saudi Arabia's fintech landscape is witnessing significant growth as Simplified Financial Solutions Co., a B2B spend management platform, has successfully garnered a $10 million seed investment. The capital injection was spearheaded by Sanabil Investments, a Public Investment Fund subsidiary, and RAED Ventures, with contributions from a consortium of investors including anb seed, Rua Ventures, Byld, and KBW Ventures. Existing backers...