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Saudi ‘Jada’ Plans Attractive Investment Funds in NEOM

Part of the ‘Catalyze Saudi’ initiative activities in Riyadh (Asharq Al-Awsat)
Part of the ‘Catalyze Saudi’ initiative activities in Riyadh (Asharq Al-Awsat)
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Saudi ‘Jada’ Plans Attractive Investment Funds in NEOM

Part of the ‘Catalyze Saudi’ initiative activities in Riyadh (Asharq Al-Awsat)
Part of the ‘Catalyze Saudi’ initiative activities in Riyadh (Asharq Al-Awsat)

Saudi Arabia’s Jada Fund of Funds plans launching funds to attract investments in favor of NEOM, revealed Jada CEO Adel Al-Ateeq.

“We are looking to increase the volume of Jada’s investment by more than SAR 4 billion ($1.06 billion),” Al-Ateeq told Asharq Al-Awsat.

“Since the beginning of Jada’s launch, we have invested in more than 20 investment funds,” said Al-Ateeq.

“The volume of investment in these funds exceeded SAR2 billion ($533.3 million), distributed among a number of venture capital and private equity funds in the Kingdom,” revealed the CEO.

Al-Ateeq stressed that Jada will continue to invest in venture capital and private equity in the Kingdom. He reaffirmed that the fund would carry on with the momentum it started with three years ago.

He pointed out that Jada’s capital initially amounted to SAR 4 billion ($1.06 billion) but hoped to increase its value in the future.

“We invested SAR 2 billion in 3 years... and I expect to continue at the same level during the next three years... We invested in 20 funds in several companies,” said Al-Ateeq, adding that Jada has capitalized in 350 local and regional companies.

“NEOM is still in the process of being established, and it is working to establish many targeted projects... Therefore, we are looking forward to launching investment funds that will give NEOM a share of its investments when its projects are launched,” revealed Al-Ateeq.

Saudi Arabia’s Ministry of Investment (MISA) and Jada had formed a partnership to bolster the Kingdom’s start-up and innovation sector and support economic diversification under the ‘Catalyze Saudi’ initiative.

Jada, owned by the Public Investment fund (PIF), provides funding to start-ups in the Kingdom through commercially sustainable investments in venture capital and private equity funds.

MISA and Jada aim to connect leaders from government agencies, start-up entrepreneurs, investors and leading family business representatives from the Kingdom to participate in roundtable discussions and reinforce the private sector’s impact on the local economy.

The ‘Catalyze Saudi’ initiative is in line with the Kingdom’s Vision 2030 which aims to raise small and medium sized enterprises’ (SMEs) contribution to GDP from 21% to 35% by 2030.

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World Bank Warns of Long-Term Fallout from Regional Conflict

 A man walks carrying shopping bags in a local market in downtown Riyadh (AFP). 
 A man walks carrying shopping bags in a local market in downtown Riyadh (AFP). 
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World Bank Warns of Long-Term Fallout from Regional Conflict

 A man walks carrying shopping bags in a local market in downtown Riyadh (AFP). 
 A man walks carrying shopping bags in a local market in downtown Riyadh (AFP). 

Amid mounting geopolitical tensions and growing economic uncertainty, the World Bank has warned that any conflict in the Middle East, particularly between Israel and Iran, could have far-reaching and negative consequences for the region and beyond.

Speaking to Asharq Al-Awsat on the sidelines of the launch of the World Bank’s latest economic update for the Gulf Cooperation Council (GCC), Safaa El Tayeb El-Kogali, the Bank’s Regional Director for the GCC, stated: “Any conflict, especially in this region, can have long-lasting and adverse effects.” She noted that the fallout is not limited to energy markets alone, but also includes rising shipping costs, heightened inflationary pressures, and increased investor uncertainty.

While the World Bank’s latest report, which was released on June 1, does not reflect the most recent escalation in the region, El-Kogali emphasized that it is “still too early to fully assess the impact of the ongoing conflict.” She warned, however, that in such volatile conditions, investors tend to adopt a “wait-and-see” approach, delaying decisions until clarity and stability return.

Despite challenges in the energy market, El-Kogali highlighted the resilience of the Gulf economies, thanks to sustained efforts toward economic diversification. In 2024, while the oil sector contracted by 3% due to OPEC+ production cuts, non-oil sectors grew by 3.7%, helping drive overall GDP growth to 1.8% — a notable recovery from 0.3% in 2023.

The World Bank projects the GCC economies will grow by 3.2% in 2025 and 4.5% in 2026, supported by easing oil production cuts and continued strength in non-oil sectors. However, El-Kogali stressed that these projections remain vulnerable to global trade volatility, oil price swings, and the evolving regional security landscape.

To mitigate risks, she urged Gulf countries to accelerate structural reforms, reduce dependency on oil, and boost intra-regional trade. Growth, she added, will also benefit from steady contributions from exports, investment, and domestic consumption.

El-Kogali emphasized that short-term risks include reduced export demand, oil market fluctuations, and regional instability affecting tourism and investor sentiment. Over the long term, threats such as low productivity growth, slow economic transformation, and over-reliance on fossil fuels could hinder progress.

She concluded by recommending fiscal diversification, tax reforms, and stronger regional trade links to create more resilient and adaptive Gulf economies.