MUST-READS

• Jadwa Investment Awarded Asset Manager of the Year at Saudi Capital Market Forum

  Jadwa Investment, a leading investment management and advisory firm in the Middle East, was awarded Asset Manager of the Year for 2024 as part of the Saudi Capital Market Awards announced at the Saudi Capital Market Forum last week. The award was presented by Eng. Khalid Abdullah Al-Hussan, CEO of Saudi Tadawul Group and Fahad Kordi, President of CFA Society Saudi Arabia, and received by Faisal Al-Rayes, Chief Investment Officer and Head of Asset Management at Jadwa Investment.

• Renewables Targets Boost Electricity Investment Growth in GCC

  Saudi Arabia’s Vision 2030 and Green Finance Framework set out targets for private and foreign investment in green energy generation, aiming for renewables to comprise 50% of output by 2030 (about 130GW), with about 60% of new capacity coming from solar and 40% from wind. Saudi Arabia also aims to replace inefficient oil-fired power stations with combined cycle gas turbines that can operate at over 60% efficiency. Abu Dhabi also plans to build 18GW of solar photovoltaic capacity by 2035. Both Saudi Arabia and Abu Dhabi are currently using a model where 60% of power project ownership is through companies directly or indirectly held by the government – for example, via government-related entities like the Public Investment Fund and Abu Dhabi Developmental Holding Company – with the remaining 40% owned by international energy or construction companies.

• Miami Chosen by Saudi Arabia for Second USA Investment Office

  Saudi Arabia will open an investment office in Miami, after the kingdom’s de-facto ruler pledged to boost US investment. In addition to US investments, Saudi Arabia will use Miami as a “gateway” to South America, Minister of Investment Khalid Bin Abdulaziz Al-Falih said Thursday at the Future Investment Initiative Institute’s summit in Miami Beach. The Invest Saudi outpost in the Florida city will be the second in the US after Washington. Miami has been raising its economic and political profile in recent years, as a string of investment and banking firms have boosted their presence there. Financial conglomerate Citadel is relocating to Miami while Goldman Sachs Group Inc. and Dan Sundheim’s D1 Capital Partners are among those that have expanded there.

• Saudi PIF Eyes More US Investment in Second Trump Term, Governor Says

  40% of the fund’s international investments go to the US, Yasir Al-Rumayyan said on Friday at the Saudi-sponsored Future Investment Initiative Priority summit in Miami. “And it could be much more,” he added, but “unfortunately sometimes when you want to procure more from the US or invest more there are certain restrictions. I hope with the current administration these restrictions will be out and it will attract more investment.” Al-Rumayyan said PIF, which counts Newcastle United and LIV Golf among its holdings, remains focused on sports and e-sports investments. He said that its portfolio company Savvy’s mandate is to “not only to invest in other companies in e- or video games, but to create esports activities.” Savvy-owned Scopely is in talks to acquire Niantic’s video-game business, Bloomberg News reported earlier this week.

• Saudi Arabia tops MENA for venture capital investment in 2024

  Saudi Arabia maintained for the second year its top position across MENA region in terms of the amount of venture capital (VC) funding. The Kingdom held more than 40% of VC investments in the region, or $750 million, in 2024, according to venture data platform MAGNiTT. The United Arab Emirates (UAE) came second with $613 million. The value of venture investments in Saudi Arabia was down 44% in 2024, driven by an 85% year-on-year (YoY) decline in the value of mega deals (deals exceeding $100 million). According to the Saudi VC Report for 2024, VC deals hit a record high during the period, reaching 178, up 16% YoY, driven by increased early-stage activity.

• Trump hails Saudi Arabia at investment event in Miami

  This was the first time a US president has spoken at the Miami event. Elon Musk, who co-heads Trump’s newly created Department of Government Efficiency, was also there. As part of an increasingly high-profile relationship with the United States under President Trump, earlier this week Saudi Arabia hosted talks between the US and Russian foreign ministers aimed at paving the way for a resolution to the Ukraine war. In late January, during the first phone call Trump held with a foreign leader after returning to the White House, the Saudi crown prince, Mohammed Bin Salman, pledged $600 billion of trade and investment in the US over Trump’s four-year term.

• Full Donald Trump speech at Miami FII investment summit hosted by Saudi Public Investment Fund

  President Donald Trump spoke at an investment summit in Miami on Wednesday, Feb. 19, 2025. Saudi Arabia's sovereign wealth fund hosted the conference, which brought together global financiers and tech executives, including Elon Musk.

• DAZN Sells Minority Stake to Saudi Arabia’s Surj Sports Investment in Landmark $1 Billion Deal

  The long-gestating deal — widely believed to involve PIF paying $1 billion in exchange for 10 per cent of DAZN — gives Saudi Arabia a piece of DAZN, which in the Middle East and North Africa (MENA) region rivals powerhouse beIN Sports, from neighboring Qatar. Qatar, incidentally, hosted the FIFA soccer World Cup in 2022, while Saudi Arabia will be hosting the 2034 edition of that event.  Founded in 2007, London-based DAZN, which has been dubbed the “Netflix of sports,” is now operating in more than 200 markets, having gone on a systematic sports rights’ buying spree that caused the streamer to report a £1.2 billion ($1.51 billion) loss for 2023. The deal with Surj Sports will certainly help shore up DAZN’s finances.

• Saudi Arabia’s PIF Expands Tourism Investments Beyond Riyadh

  In July 2023, PIF established the Saudi Tourism Investment Company, known as Asfar, to spearhead the development of new tourism projects across various cities. Asfar’s mandate includes creating attractive destinations featuring hospitality venues, tourist attractions, retail outlets, and food and beverage establishments throughout the country. Furthering this initiative, PIF launched Adeera in December 2024, a hotel management company dedicated to developing indigenous Saudi hotel brands. Adeera’s goal is to construct new hotels and implement training programs for Saudi nationals, contributing to the Kingdom’s ambition of attracting 150 million tourists annually.

• Saudi economy surpasses key milestone in diversification: Investment Minister

  Saudi Investment Minister Khalid Al-Falih said the kingdom's economy has passed a major milestone in its diversification process, with non-oil activities now accounting for 52% of total economic activity. Speaking at the PIF Private Sector Forum 2025, Al-Falih noted that Saudi Arabia’s economy stood at SAR 4 trillion ($1.1 trillion) by the end of 2024. He revealed that private sector investments are expected to reach SAR 1.2 trillion in 2024, based on preliminary fourth-quarter estimates. This marks a sharp increase from SAR 600 billion before Vision 2030, bringing the country closer to its goal of raising fixed capital formation to 30% of GDP.

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