Investment

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...

Initiating a New ETF to Link Hong Kong and Saudi Stock Indices Efforts are in motion to establish an exchange-traded fund (ETF) that will mirror the performance of Hong Kong's stock indices, in collaboration with Saudi Arabian entities. A recent announcement during the first-ever 'Capital Markets Forum' in Hong Kong by Deputy Financial Secretary Michael Wong highlighted the city's engagement...

Riyadh is gearing up to host a landmark event in the aviation sector, the Future Aviation Forum, where it will reveal investment opportunities exceeding $100 billion. This initiative is part of the Saudi Aviation Strategy, aimed at expanding the nation's aviation industry. The forum will serve as a platform to showcase various projects and incentives designed to draw investment into...

The Saudi Arabian employment firm SMASCO announced its intention to raise up to 900 million riyals (approximately $240 million) through an Initial Public Offering (IPO) on the Riyadh stock exchange.The company has indicated that the share price range for the IPO is expected to be between 7 and 7.5 riyals per share, which would value the company at about 2.8...

Abyan Capital, a pioneering firm in Saudi Arabia's robo-advisory domain, has successfully garnered an $18 million Series A investment. The funding round was spearheaded by STV with contributions from Wa'ed Ventures and RZM Investment. This milestone underscores the burgeoning potential of automated financial advice in the region. Launching in 2022, Abyan Capital has been at the forefront, innovating within the...

Lucid Motors remains unprofitable in the initial quarter, forecasting a substantial rise in investment expenses to reach $1.5 billion for the current fiscal year. The Saudi sovereign wealth fund PIF, already a backer of Lucid, has infused an added billion dollars into the company.Lucid Motors reported a revenue of $172.7 million from January to March, with 1,967 electric vehicles delivered....

Saudi Arabia's Robust Asset Position Upheld by Prudent Fiscal Measures The steadfast commitment of the Saudi government to diversify its economy and reduce reliance on oil is expected to maintain the nation's robust asset base. Credit agency S&P Global anticipates that while funding for Vision 2030 initiatives may impact Saudi Arabia's net asset position, the Kingdom's judicious fiscal policies will...

Artal Capital, an investment firm based in Riyadh with expertise in multiple asset classes, has achieved the initial close of its private equity fund that is dedicated to nurturing high-growth, technology-driven startups in Saudi Arabia and the broader Gulf Cooperation Council (GCC) area.With over $600 million in managed assets, Artal Capital, which garnered commitments from the PIF-backed Jada Fund-of-Funds among...

In a landmark deal, Saudi Arabia's Public Investment Fund (PIF) is set to acquire a majority stake in the kingdom's leading telecommunications infrastructure provider, Tawal, effectively paving the way for the formation of the largest telecom tower company in the Gulf region. The sovereign wealth fund has struck an agreement to purchase a 51% share of Tawal from its parent...

Saudi Arabia's Public Investment Fund (PIF) has reached an agreement to purchase a 51 percent share in the kingdom's largest telecommunications infrastructure provider, Telecommunication Towers Company Limited (Tawal), from the Saudi Telecommunications Company (STC Group).The deal assigns Tawal an enterprise value of $5.85 billion and is a strategic move in the consolidation of telecom infrastructure assets within the country.In an...

Saudi Arabia's state-owned Public Investment Fund (PIF) has made a significant move in the telecommunications sector by acquiring a principal shareholding in Saudi Telecom Co.'s tower unit, amounting to $2.3 billion. This strategic purchase is intended to spearhead the formation of the largest telecom tower company within the region.The PIF now controls a commanding 51 percent stake in Telecommunication Towers...

In a significant move within the business media landscape, the Saudi Public Investment Fund (PIF) has secured a controlling interest in Telecommunication Towers Company Ltd (TAWAL), procuring a 51% stake from the STC Group. This strategic acquisition is set to establish the preeminent telecom tower company across the region, as announced by both PIF and STC.The terms of the deal...

The Public Investment Fund (PIF) alongside the Saudi Telecommunications Company (stc Group) has disclosed the completion of a definitive agreement that will see PIF take control of a 51% share in Telecommunication Towers Company Limited (TAWAL), previously held by stc Group. TAWAL, a leader in the telecommunications infrastructure market in Saudi Arabia and the region, is valued at an impressive...