Boosting Strategic Partnership and Diversified Growth under Vision 2030 Initiative.
Al-Futtaim, one of the region’s most diversified conglomerates, today announced a strategic commitment of SAR 10 billion (approximately USD 2.72 billion) in investments over the next three years in Saudi Arabia.
The pledge builds on existing investments exceeding SAR 5 billion in Saudi Arabia, and underscores Al-Futtaim’s deep conviction in the Kingdom’s Vision 2030 and its role as a key strategic partner in fostering economic diversification and sustainable growth.
The announcement was made on the first day of the Future Investment Initiative (FII) in Riyadh, where Al Futtaim is actively participating.
This comprehensive investment strategy is projected to create over 1,000 new jobs in Saudi Arabia to support local talent development and leadership across key sectors. Al-Futtaim’s approach aims to support the Kingdom’s emphasis on localisation, with a strong focus on knowledge transfer, building robust local supply chains, and empowering a skilled Saudi workforce poised to lead future industries.
Marwan Shehahdeh, Group Director, Corporate Development at Al-Futtaim highlighted the strategic rationale behind the commitment, stating, “Saudi Arabia’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. Our SAR 10 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. We view ourselves not merely as investors, but as committed collaborators in nation-building.”
Throughout FII9, the company will highlight its integrated approach to contributing to the Kingdom’s transformative agenda. Al-Futtaim’s investments in Saudi Arabia are strategically directed into sectors critical to Vision 2030’s objectives:
• Mobility transformation: Al-Futtaim is actively supporting the democratisation of the automotive sector and accelerating e-mobility. This includes introducing advanced electric-vehicle technologies through global partnerships, such as BYD, and a range of commercial vehicle brands, contributing to sustainable transport solutions in the Saudi market.
• Retail experiences: Through landmark investments, including a significant partnership with Cenomi Retail, Al-Futtaim is enhancing the consumer landscape. This involves the acquisition of a 49.95% stake in Cenomi Retail. As part of this strategic transaction, Al-Futtaim will also a shareholder and bank loans facility. This collaboration focuses on expanding omnichannel, AI-enabled, and customer-centric retail experiences, bringing leading global brands and lifestyle offerings to Saudi consumers and elevating the broader retail ecosystem.
• Insurance and financial services: Through Orient Insurance, Al-Futtaim is reinforcing confidence in the Kingdom’s financial sector, promoting resilience and supporting economic inclusion with customer-centric insurance and financing solutions.
• Real estate development: Al-Futtaim is expanding its footprint to support Saudi Arabia’s vibrant urban transformation, developing modern, integrated spaces that connect communities and enhance quality of life.
As the world’s attention converges on Riyadh during FII, Al-Futtaim reaffirms its unwavering commitment to Saudi Arabia,” added Marwan Shehadeh. “Our strategic investments are a commitment to fostering a dynamic ecosystem where innovation flourishes, local talent excels, and Saudi Arabia’s Vision 2030 is realised through collaborative effort.”
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