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  • Saudi Arabia’s net foreign direct investment rises 5.6% in first quarter

    Net foreign direct investment (FDI) inflows to Saudi Arabia rose 5.6% to 9.5 billion riyals ($2.53 billion) in the first quarter of 2024, government data showed on Sunday. Inflows were up 0.6% to 17 billion riyals in the first three months compared with a year earlier, while outflows fell by 5.1% to about 7.5 billion riyals.
    The kingdom hopes to attract $100 billion in FDI by 2030 to boost non-oil gross domestic product as part of a wider strategy by de facto ruler Crown Prince Mohammed bin Salman to diversify the economy away from its reliance on crude oil exports.

  • Saudi developer Dar Global eyes $300 million investment in US expansion

    "We are really focusing on closing the first project in the United States before the end of the year," El Chaar said in an interview from Dubai. He said Dar Global is ready to raise debt in and outside the United States to help finance its U.S. projects, and that its $300 million investment will be in the form of equity.

  • Saudi developer Dar Global eyes US$300 million investment in US expansion

    SAUDI Arabia’s property developer Dar Global plans to invest US$300 million in New York, Miami and Los Angeles in the coming months as it seeks partners to develop luxury homes in the United States.

    London-listed Dar Global hopes to announce its latest development in the United States before the year end, said Ziad El Chaar, Dar Global’s chief executive officer.

  • Kuwait Finance House Explores Bid for Stake in Saudi Investment Bank

    Kuwait Finance House KSCP has been exploring the purchase of a significant stake in Saudi Investment Bank as dealmaking activity heats up in the Middle East, according to people familiar with the matter. The Kuwaiti lender has been studying a potential investment to help bolster its regional presence, the people said, asking not to be identified as the information is private. Shares of Saudi Investment Bank jumped as much as 4.9% in Riyadh trading Tuesday. They were up 0.2% at 1:23 p.m. local time, giving the company a market value of about $4.3 billion.

  • Saudi Arabia’s Vision 2030 is ‘more than halfway’ done, investment minister says

    Saudi Arabia's Minister of Investment, Khalid Al Falih, has told an event in London that the kingdom's development plan is on its way to implementation and ahead of schedule. “We're more than halfway through the implementation of Vision 2030, and I'm glad to report that we're ahead of schedule on all aspects of the implementation,” he told the UK-Saudi Sustainable Infrastructure Summit. Vision 2030, Saudi Arabia's plan to transform the country from heavy reliance on oil and gas revenue to a technologically-advanced economy powered by renewable energy through a series of giga-projects involving trillion of dollars.

  • Saudi delegation in US to explore expanding trade and investment opportunities

    A Saudi delegation, headed by the Saudi General Authority of Foreign Trade under the chairmanship of Deputy Governor of the Authority for International Relations Abdulaziz Alsakran, is participating in the 8th Saudi-US Trade and Investment Council Meeting (TIFA), which began in Washington, D.C., on Sunday. Officials from 20 government entities are participating in the event, which will conclude on June 28. The Council aims to monitor trade and investment relations to identify opportunities to further expand trade and investment, as well as to work to remove barriers to trade and investment flows, foster a promising trade and investment environment, and promote economic development between the two countries.

  • Saudi Wants Family Offices to Help Build Americas Investment

    That figure jumped sevenfold to $4 billion through 2023, and should keep growing, said Abdulrahman Bakir, managing director of the Americas for the Saudi Investment Ministry. Key to increasing the two-way flows of money between Brazil and Saudi Arabia — as well as with the rest of Latin America — is connecting institutional investors, private companies and especially family offices, which are multiplying globally and becoming a bigger source of capital, Bakir said.

  • Saudi Arabia’s US$10 billion investment to tackle food security

    The Saudi Agricultural Development Fund plays a crucial role by supporting local farmers with substantial loans, focusing on staple crops such as barley, maize, and soybeans. These efforts are integral to reducing reliance on imports and ensuring a steady supply of essential commodities.

  • Saudi Arabia holds investment summit in Brazil, plans to invest $15B

    Brazil’s energy minister, Alexandre Silveira, told reporters at the FII Institute summit on Wednesday that the Saudi Public Investment Fund (PIF) plans to invest around $15 billion in Brazil. The investments will be made in sectors including green hydrogen, infrastructure and renewable energy, he said, according to Reuters. The sovereign wealth fund did not immediately comment.

  • Over a year in making, Aramco stake sale brings rare foreign investment to Saudi

    Saudi Arabia began preparing more than a year ago to sell a new chunk of state oil giant Aramco (2222.SE), opens new tab, targeting foreign investment that has lagged goals for years and is needed for an ambitious economic transformation.
    The preparations led by CEO Amin Nasser paid off.
    Over half of the $11.2 billion Aramco shares were sold to foreign investors, a far cry from five years ago, when they largely shunned its $29.4 billion initial public offering, citing concerns about risks around governance, regional geopolitics and the environment.