Investment

The Saudi Ministry of Tourism recently took part in the 46th Annual NYU International Hospitality Investment Conference, where it cast a spotlight on the Kingdom's outstanding advances and the vast investment potentials within its burgeoning tourism sector.The conference served as an ideal platform for Saudi Arabia to exhibit its transformative aspirations to become a top-tier global tourism hub while diversifying...

The Saudi Ministry of Tourism has made a significant appearance at the 46th Annual NYU International Hospitality Investment Conference, showcasing the substantial growth and investment prospects within its rapidly advancing tourism sector. The event serves as an exceptional stage for Saudi Arabia to exhibit its ambitious drive to emerge as a dominant global tourism destination while broadening its economic horizons.In...

The General Secretary of the Gulf Cooperation Council (GCC), Jasem Mohamed Albudaiwi, welcomed the GCC Railways Authority's Director General, Eng. Mohammad Al Shabrami, at the General Secretariat's Riyadh headquarters for a pivotal discussion. At this encounter, the Director General provided a detailed update on the recent milestones, current statuses, and the strides taken toward the railway project that is set...

The realm of international investments witnessed a notable dialogue as high-profile officials from Saudi Arabia and Honduras convened to explore collaborative investment opportunities. The Saudi Minister of Foreign Affairs, Prince Faisal bin Farhan bin Abdullah, welcomed José Manuel Zelaya, the Economic Advisor at the Presidential Office of Honduras, along with the Honduran Minister of Investment, Miguel Medina.At the heart of...

The NEOM Board of Directors has announced the creation of Magna, a high-end coastal destination designed to elevate the standards of sustainable luxury travel. Nestled along the pristine Gulf of Aqaba, Magna is part of NEOM's initiative to foster regional sustainable tourism and includes the debut of twelve premier destinations: Leyja, Epicon, Siranna, Utamo, Norlana, Aquellum, Zardun, Xaynor, Elanan, Gidori,...

NEOM, Kingdom of Saudi Arabia – The NEOM Board of Directors has announced the creation of Magna, a new benchmark in the arena of luxury lifestyle destinations. Nestled along the Gulf of Aqaba, Magna is part of NEOM's commitment to environmentally friendly tourism and includes the previously introduced high-end destinations such as Leyja, Epicon, Siranna, Utamo, Norlana, Aquellum, Zardun, Xaynor,...

Boosting foreign direct investment (FDI) is crucial for Saudi Arabia's diversification from an oil-based economy, as outlined in Vision 2030, which aims to increase FDI to $100 billion or 5.9% of GDP by 2030. FDI inflows were $29 billion in 2016 when the initiative was launched. The anticipated growth in FDI is expected to propel new industries such as artificial...

The Public Investment Fund (PIF) has effectively completed its first-ever offering of sterling-denominated bonds, amassing 650 million pounds (GBP) under its Euro Medium-Term Note program. This initiative aligns with PIF's strategy to expand and diversify its financial backing sources. The bond offering witnessed an overwhelming interest, attracting subscriptions more than six times the announced amount, and was divided into two...

A Brazilian investment firm, with support from the prominent investor Marcelo Claure, is negotiating with Saudi financiers to establish a substantial $600 million investment vehicle. The fund is specifically focused on advancing projects within Brazil's climate and energy domains.EB Capital Gestao de Recursos Ltda, the company behind the initiative, aims to introduce this fund in the latter part of the...

In a significant move to bolster trade relations, a coalition of Saudi investors has formalized an agreement to establish the Saudi Logistics City within Djibouti's free zone, adjacent to the bustling Djibouti Port. Encompassing a vast 120,000 square meters in its initial phase, the facility is poised to operate under a 92-year contract. Its conception is not only a testament...

The sovereign wealth fund of Saudi Arabia, known as the Public Investment Fund (PIF), has established a new enterprise aimed at propelling the growth of the nation's satellite and space industry through the development of local expertise. Named Neo Space Group (NSG), this new venture will channel investments into domestic and international assets and capabilities, as well as venture capital...

The Kingdom of Saudi Arabia is setting the stage for a significant share sale in its state-owned energy behemoth, Aramco. Anticipated to occur as early as June, the sale is poised to be one of the largest equity offerings in the region, according to informed sources.An estimated $10 billion could be raised through the sale, a figure based on initial...

Two significant wind energy initiatives are set to bolster the Saudi Arabian national grid with an additional 1.1 GW of clean power. Marubeni Corporation, a prominent Japanese entity in trading and investment, has finalized terms with the Saudi Power Procurement Company (SPPC) to erect these substantial wind power installations in the Kingdom.The development of these projects is a collaboration effort...

In a significant stride for renewable energy in the Middle East, Marubeni Corporation, a prominent Japanese trading and investment entity, has finalized an agreement with the Saudi Power Procurement Company (SPPC) to establish two substantial wind power ventures within the Kingdom of Saudi Arabia. This initiative marks a substantial collaboration with the local firm Abdulaziz Alajlan Sons for Commercial &...

Anticipated to expand at an impressive rate, Saudi Arabia's electric vehicle (EV) market is on track to achieve a valuation of US$ 53,639.1 million by 2032. This projection is a result of the Kingdom's environmental policies, increasing consumer interest in EVs, and advancements in infrastructure. However, the region faces obstacles such as securing investments and addressing high-temperature charging issues.The Kingdom's...

The Minister of Transport for Saudi Arabia, Saleh Al-Jaser, recently highlighted the significant potential for investment within the nation's burgeoning aviation industry. Addressing attendees at the commencement of the 2024 Future Aviation Forum, Al-Jaser emphasized the imperative for entrepreneurs to harness the opportunities presented by the expansion and modernization of airports across the Kingdom.Al-Jaser underscored the impressive figure of 111...

The Saudia Group, encompassing both the national carrier Saudia and its budget-friendly counterpart flyadeal, has confirmed a substantial procurement of 105 additional aircraft from the A320neo Family, produced by Airbus. This acquisition includes 12 A320neo and 93 A321neo planes, which brings the total number of Airbus aircraft on order for the Saudia Group to 144 from the A320neo series.The announcement...

In a significant stride forward, Merit, a company specializing in customer and engagement technologies, has announced that it has raised $12 million, far surpassing its $5 million target in a pre-Series B funding round. This round was spearheaded by Alistithmar Capital i-Cap, with participation from previous Series A investors Tech Invest Com and Hambro Perks Oryx Fund.Building on a successful...

The Saudi Venture Capital Company (SVC), under the umbrella of the Small and Medium Enterprises Bank (SME), has disclosed a sizeable injection of SAR112.5 million into a private equity fund overseen by General Atlantic, renowned for its prowess in the private equity space. This development was shared by the Saudi Press Agency.This infusion of capital is designed to invigorate the...

RIYADH, Saudi Arabia - The eWTP Arabia Capital Technology Fund I, managed by the prominent Middle Eastern private equity firm eWTP Arabia Capital, has been celebrated for its exceptional performance, taking the fifth place among top-performing VC funds in the $250 million to $499 million category. This ranking is based on the net Internal Rate of Return (IRR) for funds...

Ukraine is actively engaging with Saudi Arabian entities to secure financial collaborations aimed at diversifying its economy. The sectors under consideration include clean technology, agriculture, and energy. Maxim Timchenko, the CEO of DTEK, a leading Ukrainian energy firm, disclosed ongoing high-level discussions with the Public Investment Fund (PIF) and other Saudi organizations about investing in Ukraine. The main area of...

The venture capital ecosystem in Saudi Arabia is experiencing a significant expansion, with its influence extending globally. International venture capital entities are leveraging opportunities presented by the Kingdom's comprehensive growth strategy, as manifested by the Saudi Venture Capital Company's (SVC) $30 million investment in an American investment firm.SVC's considerable commitment to a private equity fund managed by the acclaimed investment...

In a major announcement, Saudi Arabia is poised to present a comprehensive strategy that aims to expand its aviation sector to a massive $2 billion industry. This strategic vision will be revealed at a prominent event slated for May. The strategy encompasses the expansion of the business jet sphere, which includes charter, private, and corporate aircraft, and will bolster Saudi...

Exploring the Saudi Defense Manufacturing LandscapeUnder the expansive economic agenda detailed in Vision 2030, Saudi Arabia has made a concerted effort to diversify and develop a knowledge-intensive economy. A cornerstone of this strategic vision is the establishment of a robust local defense sector intended to bolster national security, generate skilled employment, and fuel economic progression.Central to this initiative is the...

Saudi Arabia is set to showcase a massive investment initiative in its aviation industry, with plans to present opportunities totaling USD 100 billion at the upcoming Third Future Aviation Forum (FAF), scheduled for May 20-22. More than half of this investment, upwards of USD 50 billion, is allocated for upgrading Saudi airports. Additionally, there is an anticipation for new aircraft...

The Kingdom of Saudi Arabia has revealed ambitious strategies to harness the vast agricultural potential of Nigeria, with intentions to invest significantly. This move is aimed at both supplying the Nigerian market and exporting food to neighboring nations.During a visit to the Nigerian Minister of Agriculture and Food Security, Senator Abubakar Kyari, the Saudi Minister of Environment, Water and Agriculture,...

The Kingdom of Saudi Arabia is making a bold leap into the future of technology with a substantial $100 billion investment in the sector. This strategic move is placing the country at the pinnacle of global innovation and talent cultivation, according to a top-level Microsoft Arabia representative.Recently, Saudi Arabia announced the creation of Alat, a tech enterprise supported by the...

The Kingdom of Saudi Arabia is channeling a vast investment of $266 billion into its energy infrastructure over the next six years, with a focus on catering to the global transition towards clean energy. Despite this ambitious effort, the capacity of the power grid to sustain daily Artificial Intelligence (AI) operations remains significantly lacking, a challenge that is becoming increasingly...

Saudi Arabia is placing a significant emphasis on enhancing investments from the private sector within its manufacturing industry, riding on the wave of rapid national growth, as stated by a senior government official.In a speech at the Riyadh International Industry Week 2024, Deputy Minister of Industry and Mineral Resources for Industrial Affairs Khalil bin Salamah highlighted the critical role of...

Hong Kong is planning to launch an exchange-traded fund (ETF) in partnership with Saudi Arabia, aimed at mirroring the stock indices of the Asian financial hub, as disclosed by a top-ranking official. At the Capital Market Forum held in Hong Kong, Michael Wong, the region's deputy financial secretary, announced intentions to establish a trading hub in Riyadh to strengthen economic...