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Saudi General Investment Authority Launches Venture Capital Platform

Guests at the Financial Sector Conference in Riyadh. (SPA)
Guests at the Financial Sector Conference in Riyadh. (SPA)
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Saudi General Investment Authority Launches Venture Capital Platform

Guests at the Financial Sector Conference in Riyadh. (SPA)
Guests at the Financial Sector Conference in Riyadh. (SPA)

The Saudi Arabian General Investment Authority (SAGIA) launched on Wednesday VENTURE by Invest Saudi, a new initiative aimed at attracting global venture capital firms to the Kingdom, reported the Saudi Press Agency.

Sultan Mofti, SAGIA’s Deputy Governor of Investment Attraction and Development, said: “The economic and social transformation of Saudi Arabia is taking place at a rapid pace, guided by Vision 2030. The continued prosperity of the Kingdom depends on fostering innovation, attracting foreign investment and enabling private sector growth.”

“Across the globe, venture capital firms are key to nurturing entrepreneurship, promoting innovation, and unlocking value.”

Launched at the Financial Sector Conference taking place in Riyadh, the VENTURE by Invest Saudi platform will also provide streamlined licensing procedures for venture capital portfolio companies.

Offering an “instant license” in under three hours, VENTURE by Invest Saudi will enable companies to more easily tap into the Saudi market. So far, more than 20 venture capital firms have signed agreements under the VENTURE by Invest Saudi platform, representing the United States, the United Kingdom, China, Singapore, Kuwait and a number of other countries.

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Cityscape Global in Saudi Arabia to Introduce Over 100,000 Housing Units

Photo from the second edition of the Cityscape Global Exhibition in Riyadh (SPA)
Photo from the second edition of the Cityscape Global Exhibition in Riyadh (SPA)
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Cityscape Global in Saudi Arabia to Introduce Over 100,000 Housing Units

Photo from the second edition of the Cityscape Global Exhibition in Riyadh (SPA)
Photo from the second edition of the Cityscape Global Exhibition in Riyadh (SPA)

The Cityscape Global exhibition, set to open on Monday in Riyadh, is expected to introduce more than 100,000 housing units, financing options with interest rates starting at 2.59%, and discounts of up to SAR 100,000 (around $26,600) on various projects. The event will also feature one of the largest real estate auctions in the Middle East, with an estimated value exceeding SAR 1 billion ($266.6 million).
This announcement was made by Abdullah Al-Hammad, CEO of the General Real Estate Authority, during the Cityscape Global introductory meeting held on Thursday in the Saudi capital.
Al-Hammad emphasized that Saudi Arabia’s hosting of this major real estate event reflects the economic momentum the Kingdom is experiencing under Vision 2030.
He explained that the exhibition will play a key role in showcasing investment opportunities by providing comprehensive insights into real estate market trends, noting that the Kingdom is witnessing unprecedented growth in real estate and economic projects.
The exhibition will primarily focus on the Kingdom’s mega-projects, with participation from over 400 exhibitors, 100 institutional investors, and more than 500 leaders from the global real estate sector.
He added that this major gathering will facilitate access to diverse investment opportunities within Saudi Arabia’s real estate market, thus boosting foreign investment, diversifying the national economy, and supporting sustainable development.
Al-Hammad highlighted that the previous Cityscape exhibition attracted over 160,000 visitors and secured investment projects and agreements valued at over SAR 110 billion ($29 billion), including $19 billion in foreign investments. This year, the second edition is expected to see a 50% increase in transactions, projects, and agreements.
Abdulrahman Altawil, the Deputy Minister for Residential Supply Stimulus and Real Estate Development, told Asharq Al-Awsat that this major real estate event will host leading global names from various areas of the real estate industry, including development, design, and operations.
“A large number of international real estate developers are expected to participate in the event, with over 10 developers already launching projects in Saudi Arabia. The aim is to attract even more developers in partnership with local counterparts”, Altawil said.
Altawil noted that Saudi Arabia’s real estate and investment environment is highly attractive, providing promising and accessible opportunities for investors. He mentioned that the ministry is working to create a diversified landscape focused on attracting global companies to invest in the Kingdom.
The exhibition will feature a selection of experts and CEOs and will include a Real Estate Investors Forum, hosting 150 investors from 22 countries. This event aims to strengthen collaboration on investment projects, establishing itself as a key center for opportunities and investment.