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Future Investment Initiative: From ‘Davos in the Desert’ to a Platform for Untangling Global Crises

A view of the audience during one of the sessions at the eighth edition of the Future Investment Initiative conference (Asharq Al-Awsat). 
A view of the audience during one of the sessions at the eighth edition of the Future Investment Initiative conference (Asharq Al-Awsat). 
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Future Investment Initiative: From ‘Davos in the Desert’ to a Platform for Untangling Global Crises

A view of the audience during one of the sessions at the eighth edition of the Future Investment Initiative conference (Asharq Al-Awsat). 
A view of the audience during one of the sessions at the eighth edition of the Future Investment Initiative conference (Asharq Al-Awsat). 

The annual Future Investment Initiative (FII) is evolving from an investment forum into a powerful geoeconomic and diplomatic platform. In the midst of unprecedented geopolitical and economic transformations, Riyadh is consolidating its status as an indispensable global hub, a place where future-shaping decisions are made and urgent diplomatic solutions take form.

As the Saudi capital hosts the ninth edition of the FII - bringing together some of the world’s most influential figures in finance and technology to chart a roadmap for sustainable growth and artificial intelligence - it is simultaneously witnessing an intense wave of diplomatic activity, including high-level coordination meetings on the two-state solution.

Riyadh is positioning itself as a bridge between global capital, development imperatives, and the requirements of regional stability and peace.

The ninth edition of the forum opened with closed sessions on Monday, with the official launch scheduled for Tuesday under the theme “The New Compass: Unlocking New Frontiers for Growth.” More than 8,000 participants and 650 prominent speakers are taking part in 250 discussions.

What began years ago as an investment gathering with a local lens - dubbed “Davos in the Desert” - has now matured into a global geoeconomic platform designed to navigate and address complex crises.

This transformation comes at a critical time for the world economy. Trade tensions, including US tariffs, and geopolitical instability in Europe and the Middle East have created high levels of uncertainty. Global growth faces mounting risks.

By contrast, Saudi Arabia has charted a different course, demonstrating strong resilience against external shocks and an ability to adapt quickly to changing conditions. This strength is supported by the steady expansion of its non-oil sectors, a cornerstone of its economic diversification strategy, making the Kingdom a reliable anchor for global capital in an increasingly fragmented world.

The initiative also functions as a bridge for global capital and a key platform for investors interested in the Middle East. Globally, discussions on artificial intelligence, sustainable energy, and innovation are already shaping capital flows and influencing the valuations of major companies.

For Saudi Exchange (Tadawul), the event acts as a significant catalyst. Direct engagement between the Public Investment Fund (PIF) and global investment banks enhances awareness of the Saudi market’s depth and liquidity, aligning with the Kingdom’s goal of increasing its weight in global indices and paving the way for large upcoming IPOs.

This year, the forum carries unprecedented geopolitical weight. It takes place at a moment when regional focus is shifting from conflict to reconstruction and development. High-level diplomatic attendance, coordination meetings on the two-state solution, and discussions addressing global conflicts all underscore Riyadh’s emerging role as a mediator capable of linking political stability with economic investment.

One of the forum’s headline sessions explores three key themes: progress, innovation, and fragmentation. It addresses questions of market efficiency, the environmental cost of economic expansion, the responsible use of AI, technological entrepreneurship, climate resilience, and how to secure global supply chains in a world defined by economic competition and digital transformation.

Yasir Al-Rumayyan, Governor of the PIF and Chairman of the Future Investment Initiative Institute, will officially open the forum, presenting the fourth edition of the “Priority Compass.” This extensive survey draws on the views of tens of thousands of participants from 32 countries, representing 66 percent of the world’s population. Its aim is to guide decision-makers toward citizen-centered solutions.

The final day of the event, known as Investment Day, will be devoted to signing deals, presenting high-growth projects and emerging technologies, and fostering connections between founders and global investors. Asset managers overseeing more than $100 trillion in assets are expected to participate.

Among the prominent speakers are Laurence D. Fink of BlackRock, Jamie Dimon of JPMorgan Chase, David Solomon of Goldman Sachs, Bruce Flatt of Brookfield Asset Management, Bill Winters of Standard Chartered, Jane Fraser of Citigroup, Jenny Johnson of Franklin Templeton Investments, Ray Dalio of Bridgewater Associates, Stephen A. Schwarzman of Blackstone, Cathie Wood of ARK Invest, and Alex Clavel of SoftBank Vision Fund. Also attending are CEOs from Barclays, Nasdaq, Temasek Holdings, and China Investment Corporation.

Behind closed doors, Monday’s sessions delved into cutting-edge technological and economic shifts, from quantum computing breakthroughs to digital currencies and carbon accounting. One session, “Can We Win the Quantum Computing Race and Turn It into Profit?”, examined rapid developments in quantum hardware and software and noted that governments worldwide have committed more than $40 billion to research and development in this field.

Another session, supported by Saudi Aramco, reviewed new methods to measure product-level carbon emissions, aiming to bring greater transparency to corporate climate performance. A third session explored how digital currency infrastructure could redefine global finance, with discussions on stablecoins, central bank digital currencies, and the role of major institutions such as Bank of America, PayPal, and Stripe in driving cross-border payment solutions.

 

 

 

 

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Business

Saudi Vacant Properties Face Fees as Market Awaits Supply Increase

One of the projects of the National Housing Company in Jeddah (the company)
One of the projects of the National Housing Company in Jeddah (the company)
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Saudi Vacant Properties Face Fees as Market Awaits Supply Increase

One of the projects of the National Housing Company in Jeddah (the company)
One of the projects of the National Housing Company in Jeddah (the company)

Following the adoption on Wednesday of the executive regulations governing fees on vacant properties, the Saudi real estate market is awaiting a new phase aimed at increasing residential and commercial supply by encouraging owners of unused units to put them into use or offer them for rent or sale, in a regulatory move intended to curb hoarding and achieve greater balance between supply and demand in major cities.

The step comes as part of a package of real estate reforms led by the government to enhance the efficiency of real estate assets and improve the housing environment, in line with directives from Crown Prince and Prime Minister Mohammed bin Salman, under the goals of Vision 2030 aimed at building a more sustainable and better regulated real estate market.

On Wednesday, the Ministry of Municipalities and Housing announced the adoption of the executive regulations for fees on vacant properties as a regulatory instrument to be activated when vacancy criteria are met, with the cities and geographic areas subject to implementation to be announced later in accordance with approved standards.

Real Estate Assets

The regulations aim to improve the efficiency of real estate asset utilization, stimulate the use of vacant properties, increase supply, and strengthen balance in the local market. The annual fee on vacant properties was set as a percentage of fair rental value, not exceeding 5 percent of the building’s value.

The fees will be determined within a specific geographic area of a city by ministerial decision, based on indicators including vacancy rates, rising property prices, housing costs, and supply and demand dynamics.

Vacant properties are defined as buildings located within the urban boundary that remain unused for an extended period without acceptable justification, in a manner that affects the availability of sufficient supply in the real estate market.

As for the “vacancy period,” the regulations apply to occupiable buildings within geographic areas subject to implementation if they remain vacant for six months during the reference year, whether continuously or intermittently.

Bringing Units Back Into Circulation

Real estate specialists told Asharq Al-Awsat that the adoption of the executive regulations for vacant property fees represents a qualitative shift in regulating the Saudi market by pushing owners of unused assets to put them into use instead of leaving them closed for long periods.

They noted that the new fees would help bring residential and commercial units back into circulation and improve the efficiency of utilizing real estate inventory, particularly in major cities witnessing growing demand for rentals and housing.

The specialists said the next stage could witness a gradual increase in real estate supply as more owners move toward leasing or selling to avoid annual fees, which would help ease the pace of price increases and achieve a better balance between supply and demand.

They added that the Saudi real estate market is “entering a more mature phase based on operational efficiency and the actual investment of assets, supported by new legislation and ongoing reforms aimed at limiting monopolistic practices and enhancing sustainability in the real estate sector.”

Encouraging Property Owners

Abdul Nasser Al-Abdullatif, chief executive of Raoud Real Estate, told Asharq Al-Awsat that the adoption of the executive regulations for vacant property fees “represents an important regulatory step toward enhancing the efficiency of the real estate market, particularly given the presence of a number of unused residential and commercial units despite growing demand for rentals.”

He said the objective of the fees “is not limited to the financial aspect, but is primarily aimed at encouraging property owners to invest in unused assets and reintroduce them into the market instead of leaving them closed for long periods.”

He expected the regulations to contribute to “increasing rental supply in the coming period, as continued vacancy of units will impose direct financial burdens on owners, pushing a segment of investors to offer their properties for rent or sale, which could gradually help ease pressure on rental prices, particularly in major cities with high demand.”

Identifying Vacancies

Al-Abdullatif said the effects of the decision would not appear immediately “because the real estate market responds gradually to new regulations, in addition to the fact that the extent of the impact will depend on the efficiency of implementation mechanisms, the accuracy of identifying vacant units, and the extent of owners’ compliance with the regulations.”

He added that the Saudi real estate market is moving toward a more mature and better regulated phase, supported by modern legislation, housing programs, and urban transformation initiatives. He expects the coming years to witness greater focus on improving the operational efficiency of real estate assets and maximizing their economic benefit, which would positively contribute to increasing supply and achieving better market balance.

Additional Supply

For his part, real estate specialist Ahmed Omar Basodan told Asharq Al-Awsat that the adoption of the new regulations reflects a clear direction toward improving the efficiency of real estate assets and revitalizing the rental market by injecting more idle supply within urban areas in cities.

Basodan said property owners would come under pressure under the new regulations and would have no option but to lease at reasonable prices appropriate to each area and neighborhood, rather than waiting for higher prices using the same previous approach. He stressed that real estate investment would increasingly move toward utilization rather than hoarding.

He added that the real estate market would gradually add further supply in the coming period and that owners “will reconsider holding vacant properties, which means a balance between supply and demand and lower prices, which is what the government is seeking in the next phase.”

Business

IEA: Global Oil Supply to Fall by Around 3.9 Million bpd this Year

The IEA slashed its previous forecast, which had projected a 1.5 million bpd drop in global oil supply (X)
The IEA slashed its previous forecast, which had projected a 1.5 million bpd drop in global oil supply (X)
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IEA: Global Oil Supply to Fall by Around 3.9 Million bpd this Year

The IEA slashed its previous forecast, which had projected a 1.5 million bpd drop in global oil supply (X)
The IEA slashed its previous forecast, which had projected a 1.5 million bpd drop in global oil supply (X)

Global oil supply will not meet total demand this year as the Iran war wreaks havoc on Middle East oil production, the International Energy Agency said in its monthly oil market report on Wednesday.

The US and Israel's war with Iran, subsequent damage to Iran and its Gulf neighbors' oil infrastructure and the effective closure of the Strait of Hormuz have caused the largest oil supply crisis in history, sending oil prices skyrocketing.

"With Hormuz tanker traffic still restricted, cumulative supply losses from Middle East Gulf producers already exceed 1 billion barrels with more than 14 million (barrels per day) of oil now shut in, ⁠an unprecedented supply ⁠shock," said the agency, which advises industrialized countries.

The IEA forecasts imply that supply will come in 1.78 million bpd below total demand in 2026, erasing a 410,000 bpd surplus projected in last month's report and a close to 4 million bpd surplus in its December report.

"Our latest supply and demand estimates imply that the market will remain severely undersupplied through the end of 3Q26, even assuming the conflict ends by early June," the Paris-based agency said, adding that the ⁠second-quarter deficit will be as stark as 6 million bpd.

The IEA's base-case forecast is for a gradual resumption of traffic through the strait from the third quarter onwards, it said, which could see the market return to a "modest surplus" by the fourth quarter, allowing depleted stocks to begin to rebuild.

Supply losses led to a 246 million barrel drawdown in global oil inventories in March and April, Reuters quoted the IEA as saying, which could increase price volatility ahead of the peak summer demand period.

The 32-member IEA coordinated the largest-ever release of 400 million barrels of oil from strategic reserves in March in a bid to calm markets. It said around 164 million barrels of that total has already been released.

Overall global oil supply will fall by around 3.9 million barrels per day ⁠across 2026 due to ⁠the war, the agency said, slashing its previous forecast, which had projected a 1.5 million bpd drop.

The IEA now sees demand falling by 420,000 bpd this year, compared to a previous forecast of an 80,000 bpd drop.

Consumption is also under pressure due to the war as price spikes lead to demand destruction and slower economic growth, it said.

Business

Iraq Resumes Condensate Exports after Shipping Disruption

Tankers load oil cargoes at an offshore facility linked to Iraq’s Basra oil field. (Reuters)
Tankers load oil cargoes at an offshore facility linked to Iraq’s Basra oil field. (Reuters)
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Iraq Resumes Condensate Exports after Shipping Disruption

Tankers load oil cargoes at an offshore facility linked to Iraq’s Basra oil field. (Reuters)
Tankers load oil cargoes at an offshore facility linked to Iraq’s Basra oil field. (Reuters)

Iraq resumed condensate exports on Tuesday after a suspension caused by the Iran conflict and disruptions to regional shipping operations, the oil ministry said.

Deputy Oil Minister for Gas Affairs Izzat Saber Ismail announced that Basra Gas Company had loaded 50,000 cubic meters of condensate onto the tanker Dakosh, adding that the cargo was shipped in line with technical and commercial standards.

The tanker departed on Tuesday after completing technical and logistical procedures, he said in a statement.

“This achievement was made possible through coordination between the ministry, Basra Gas Company and related entities to overcome challenges and ensure smooth export operations,” Ismail stated.

He added that Iraq was working to maintain normal tanker traffic and loading operations in the coming days to stabilize exports and meet contractual commitments.

Separately, Deputy Oil Minister Bassem Mohammed Khudair said Iraq could restore more than 3 million barrels per day of crude exports to global markets within 168 hours if navigation restrictions in the Strait of Hormuz were lifted.

“This is not merely a technical figure, but a message of confidence to global markets reflecting the resilience of export infrastructure at Basra’s ports and offshore loading terminals in the northern Gulf,” Khudair told press agencies.

He added that Iraq continued to rely on infrastructure at its southern ports and emergency plans prepared by the oil ministry to maintain exports.

Khudair noted that Iraq was still exporting around 200,000 barrels per day from the Kirkuk fields to Turkey’s port of Ceyhan, while efforts were underway to ship additional Basra crude through Syrian ports.

Iraq had previously cut crude production to 1.5 million barrels per day from more than 4.2 million bpd after declaring force majeure following the outbreak of the US-Iran conflict on Feb. 28. Exports also fell to 200,000 bpd from 3.6 million bpd before the conflict.