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More than 100 Speakers for Future Investment Initiative 2018 in Riyadh

More than 100 Speakers for Future Investment Initiative 2018 in Riyadh
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More than 100 Speakers for Future Investment Initiative 2018 in Riyadh

More than 100 Speakers for Future Investment Initiative 2018 in Riyadh

The Saudi Public Investment Fund (PIF) on Thursday announced more than 100 global investors, CEOs and disruptive innovators who will speak at the Future Investment Initiative (FII) 2018, which begins in Riyadh on Oct. 23.

Focusing on three core themes — investing in transformation, technology as opportunity, and advancing human potential — the three-day event will explore a number of subjects, including how leaders from business and government can develop a collective vision for the future, how venture capital is changing the future of innovation, and how immersive technology is changing the way we live, work and create.

FII is a global platform focused on identifying future trends and opportunities, defining the future of industries and discussing how investment can contribute to overall global prosperity and development. FII speakers will shed light on the most pertinent trends shaping the global investment landscape.

Speakers announced so far include David Bonderman, Chairman and Founding Partner of TPG Capital; Jamie Dimon, CEO of JPMorgan Chase; Larry Fink, Chairman and CEO of BlackRock, Inc.; John M. Flint, Executive Director and Group Chief Executive of HSBC Holdings PLC; Dara Khosrowshahi, CEO of Uber Technologies Inc.; Christine Lagarde, President of the International Monetary Fund; Kai-Fu Lee, Chairman and CEO of Sinovation Ventures; Tong Li, CEO of Bank of China International; Rob Lloyd, CEO of Hyperloop One; Jean Lemierre, Chairman of BNP Paribas; Kanetsugu Mike, President and CEO of MUFG Bank LTD; Zanny Minton-Beddoes, Editor-in-Chief of The Economist; Rajeev Misra, CEO of Softbank Vision Fund, SB Investment Advisers; Steven Mnuchin, United States Secretary of the Treasury; Lubna S. Olayan, CEO and Deputy Chairperson of Olayan Financing Company; General David Petraeus, Chairman of KKR; Jeremy Weir, Executive Chairman and CEO of Trafigura Group Pte Ltd; and Stephen Schwarzman, CEO of Blackstone.

Commenting on the announcement, Jamie Dimon said, “I am looking forward to attending the Future Investment Initiative in Riyadh to discuss innovation in technology and what it means to all of us. Overall, technology is the greatest thing that has ever happened to mankind. Artificial intelligence, big data and machine learning are helping JPMorgan Chase reduce risk and fraud, upgrade service, improve underwriting and enhance marketing across the firm. We know technology has been a great force, and for the benefit of all of us, that force should not be left unleashed.”

“Political, economic and technological changes pose individual challenges for all businesses and governments, but the most intractable problems require a truly global response,” said John M. Flint. “The public and private sectors have no choice but to work together to maximize the benefits of human ingenuity while managing its disruptive impacts. Sharing ideas and sharpening our focus on the problems we have in common are essential steps toward building a sustainable economy for all.”

Rajeev Misra said: “FII is a unique event that brings together visionaries across business, government and technology who are collectively shaping the future of global investment. We share a common ambition to create an ecosystem that harnesses the world’s most transformative technologies, to the benefit of humanity. Through the Vision Fund, we are striving to bring many of these businesses to the Middle East, which we believe will support innovation, job creation and unlock new economic opportunities. We look forward to sharing our insights with the FII community.”

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Saudi Real Estate Market Maintains Investment Momentum Despite War Fallout

Residential developments in Saudi Arabia (Ministry of Municipalities and Housing)
Residential developments in Saudi Arabia (Ministry of Municipalities and Housing)
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Saudi Real Estate Market Maintains Investment Momentum Despite War Fallout

Residential developments in Saudi Arabia (Ministry of Municipalities and Housing)
Residential developments in Saudi Arabia (Ministry of Municipalities and Housing)

Saudi Arabia's real estate market continues to attract investment despite geopolitical challenges weighing on economic activity worldwide, supported by new housing developments and efforts to expand residential supply.

The Ministry of Municipalities and Housing announced that more than 15,000 residential land plots had been made available through the Sakani platform across the Kingdom between the beginning of 2026 and the end of October, alongside additional projects launched by private-sector developers.

The developments underscore the sector's continued momentum and its importance to the Saudi economy.

Government initiatives and private-sector projects aim to expand housing supply and meet growing demand, reinforcing real estate's position as a key driver of economic growth and diversification.

Strong domestic demand and ongoing urban development projects continue to underpin the market's appeal, attracting investment from both Saudi and international investors.

Against a backdrop of geopolitical uncertainty and war-related disruptions to trade, supply chains, financing costs and construction expenses, the real estate sector has gained importance as an industry driven largely by domestic demand and capable of sustaining economic activity.

Private-Sector Investment

Despite mounting global economic volatility and geopolitical tensions, Saudi Arabia's real estate market continues to attract international investment, supported by clear economic policies, expanding development opportunities and strong housing demand.

Real estate developer Arada recently announced its entry into the Saudi market through a partnership with local company XTOPIA, backed by a SAR 50 billion ($13.3 billion) portfolio of land and development opportunities.

The partnership's first project is a SAR 14 billion residential development in Riyadh's Al Rimal district.

Riyadh Region Municipality, the Ministry of Municipalities and Housing, and the National Center for Privatization & PPP also recently announced the launch of the expression of interest, prequalification and proposal submission stages for a joint land investment project.

The initiative involves developing a municipal land plot in northern Riyadh through a 50-year partnership with the private sector, marking the municipality's first project under the joint investment model.

Real estate specialists described the initiative as an important step toward enabling private investors to develop property assets into sustainable projects with significant economic value.

They said the extended investment period would encourage developers to improve construction quality and services, strengthen project feasibility, diversify real estate offerings and increase supply in one of the capital's most expensive neighborhoods.

Balancing the Real Estate Market

The importance of releasing more residential land lies in achieving greater balance in the property market, a government objective outlined by Crown Prince and Prime Minister Mohammed bin Salman.

The strategy seeks to increase housing supply by making more land available, broadening the options accessible to Saudi citizens and enabling more households to move from searching for a home to building and owning one.

Increasing the availability of residential land, particularly in cities and governorates experiencing rising demand, could ease pressure on land prices over the medium term, provided that plot locations and sizes correspond to actual market needs.

The release of additional land also creates opportunities for real estate developers, contractors, engineering firms and building materials suppliers to benefit from anticipated demand for construction projects.

As a result, businesses across the real estate and construction supply chain could see stronger activity despite the impact of the geopolitical crisis on other economic sectors in the region.

The initiative also expands housing choices, supports efforts to increase homeownership rates and improve quality of life, and encourages urban development beyond major metropolitan centers.

Lowering Prices

Real estate developer Ahmed Omar Basoudan believes the main challenge facing Saudi Arabia's property market in the coming period will not simply be increasing the number of land plots and housing units available.

Rather, he said, the priority must be ensuring that homes reach buyers at prices they can afford, while providing adequate infrastructure and services and keeping development and construction costs under control.

Speaking to Asharq Al-Awsat, Basoudan explained that genuine balance in the real estate market depends on the availability of housing that meets buyers' needs in terms of price, location and quality, rather than simply increasing overall supply.

He said the release of more than 15,000 residential land plots during the first 10 months of the year, together with recently announced private-sector projects, reflected the government's continued commitment to expanding housing supply and providing more residential options.

Basoudan stressed that the latest real estate developments represent an important step toward addressing one of the market's most pressing challenges: achieving a sustainable balance between supply and demand, particularly amid the Kingdom's population growth and continued urban expansion.

Business

Saudi Stocks Rebound 0.9%, Recouping Previous Session's Losses

An investor monitors stock market data on a screen at the Saudi Exchange (Tadawul) in Riyadh (Reuters)
An investor monitors stock market data on a screen at the Saudi Exchange (Tadawul) in Riyadh (Reuters)
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Saudi Stocks Rebound 0.9%, Recouping Previous Session's Losses

An investor monitors stock market data on a screen at the Saudi Exchange (Tadawul) in Riyadh (Reuters)
An investor monitors stock market data on a screen at the Saudi Exchange (Tadawul) in Riyadh (Reuters)

Saudi stocks closed higher on Monday, recovering some of the losses sustained in the previous session as heavyweight shares strengthened and the banking sector advanced.

The benchmark Tadawul All Share Index (TASI) rose 0.90% to close at 10,106 points, gaining 90 points. Total trading value reached approximately SAR 3.5 billion ($933 million).

The index had fallen 0.8% on Sunday amid selling pressure on heavyweight stocks.

Anaam International Holding Group, Fitaihi Holding Group and Raoom were among the session's top gainers, rising between 7% and 9% to close at SAR 11.93, SAR 2.11 and SAR 72.30, respectively.

On the losing side, Almunajem Foods led the declines, shedding 9.20% to SAR 49.94, followed by Saudi Paper Manufacturing Co., which fell 6.18% to SAR 48.88, and Alamar Foods, which dropped 4.63% to SAR 44.06.

At the sector level, banks led the gains, advancing 1.60%, supported by a 2.06% rise in Bank AlJazira shares, which closed at SAR 10.89.

Business

Tesla to Refund Many Cybertruck Deposits as Demand Exceeds Production, Musk Says

Tesla Cybertruck electric vehicles sit parked in a storage lot in San Diego, California on April 11, 2025. (AFP)
Tesla Cybertruck electric vehicles sit parked in a storage lot in San Diego, California on April 11, 2025. (AFP)
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Tesla to Refund Many Cybertruck Deposits as Demand Exceeds Production, Musk Says

Tesla Cybertruck electric vehicles sit parked in a storage lot in San Diego, California on April 11, 2025. (AFP)
Tesla Cybertruck electric vehicles sit parked in a storage lot in San Diego, California on April 11, 2025. (AFP)

Tesla will have to refund Cybertruck deposits for many customers as orders far exceed production capacity, CEO Elon Musk said, following last week's announcement that the electric vehicle maker is winding down the pickup truck's production at its Texas factory.

"We will try ‌to make ‌as many as ‌possible ⁠before shutting down the ⁠line in about 8 months, but will have to return deposits for a lot of people," the billionaire said in a post on X on Monday.

The comments ⁠come after Musk said ‌Tesla would ‌add an extra production shift to fulfill outstanding ‌Cybertruck orders before dismantling the production ‌line next year to expand output of its Cybercab robotaxi.

The production winddown is slated for mid-2027, Musk announced on ‌Friday, with the resources being redirected to the Cybercab, a vehicle ⁠central ⁠to the automaker's autonomous-driving ambitions.

Tesla began delivering the Cybertruck in late 2023, but demand has fallen far short of Musk's expectations. US sales fell 48% to 20,237 units last year, according to Kelley Blue Book, well below Musk's earlier projection that annual Cybertruck sales could reach 250,000 vehicles.