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RIYADH: UAE-based conglomerate Al-Futtaim has committed SR10 billion ($2.6 billion) in new investments over the next three years in ����ֱ��, reinforcing its long-term partnership with the Kingdom. 

The announcement, made at the Future Investment Initiative conference in Riyadh, highlights the group’s focus on localization, talent development, and diversified economic growth, the company said in a press release. 

The new commitment builds on Al-Futtaim’s existing SR5 billion investments in ����ֱ�� and is projected to create more than 1,000 jobs. 

The conglomerate’s commitment is part of the broader wave of strategic investments being unveiled at the FII, a platform that has facilitated more than $250 billion in deals since its inception less than a decade ago. 

Marwan Shehahdeh, group director, corporate development at Al-Futtaim, said: “����ֱ��’s Vision 2030 demands an approach that goes beyond mere deployment of capital. It requires partners who bring operational expertise, regional experience, and a genuine commitment to building from within.” 

He added: “Our SR10 billion pledge is a tangible expression of our confidence in the Kingdom’s potential and our readiness to actively contribute to its economic diversification and innovation agenda.”  

In September, Al-Futtaim acquired a 49.95 percent stake in ����ֱ��’s Cenomi Retail in a $689 million deal. 

The partnership aims to develop omnichannel, AI-driven, and customer-centric retail experiences, expanding access to international brands and elevating the consumer landscape in ����ֱ��. 

Through its insurance arm, Orient Insurance, the group is supporting financial sector resilience and economic inclusion by offering customer-focused insurance and financing solutions. 

Al-Futtaim is also expanding its real estate portfolio to contribute to ����ֱ��’s urban transformation, creating integrated developments that foster community connectivity and enhance quality of life. 

“Our strategic investments are a commitment to fostering a dynamic ecosystem where innovation flourishes, local talent excels, and ����ֱ��’s Vision 2030 is realized through collaborative effort,” Shehahdeh added. 

RIYADH: Saudi Minister of Investment Khalid Al-Falih said the number of companies that have relocated their regional headquarters to Riyadh has exceeded 780, underscoring the Kingdom’s growing appeal as a global business hub, . 

Speaking during a panel session at the Future Investment Initiative in Riyadh, Al-Falih noted that investors in the Saudi Stock Exchange, or Tadawul, have achieved an annual compound return of 11 percent since the 1980s, calling it a key indicator for those seeking long-term investment opportunities in the Kingdom. 

Private sector contribution 

Al-Falih said ����ֱ�� aims to increase the private sector’s contribution to gross domestic product to 65 percent, highlighting a decline in the economy’s reliance on oil activities — from more than 90 percent in 2015 to 68 percent in 2024. 

He emphasized that family businesses account for about 95 percent of the Saudi economy, adding that the Kingdom welcomes global family enterprises not only for their capital, but also for their innovative investment ideas and international networks. 

On small and medium-sized enterprises, the minister said they currently contribute 20 percent to the Saudi economy, with a goal of reaching 35 percent, adding: “We have solutions to finance these companies.” 

FDI growth and mega projects 

Al-Falih reiterated that ����ֱ��’s mega-projects are progressing rapidly, adding that foreign investment in the Kingdom has quadrupled since the launch of Vision 2030.  

He said the Kingdom’s economic trajectory has become clearer under the Vision framework, with 90 percent of foreign investments now flowing into non-oil sectors, reflecting a decoupling of the economy from oil prices.