KFH gets official approval to start investing in Saudi Arabia

The Acting Assistant General Manager for Investment Sector at KFH Abdul Nasser Al-Subeih said that the official approval that the CMA has announced on the Stock Exchange Market came as a complement to the final approval.

In addition, he stated that KFH is prepared to equip the offices of the corporation to operate.

He added that the Saudi market is one of the promising markets, and that KFH has invested in it recently.

Most of the investments focused on real estate, since KFH has accumulative experience in that sector.

The residential sector in Saudi needs 1.5 million residential units.

This has led to the establishing of a real estate company with a SR2.5bn, and entered several projects, whether alone or with partners.

Furthermore, he mentioned that KFH hopes to contribute in supporting several development projects that Saudi Arabia will witness in the future, especially after KFH succeeded in the global markets like Turkey, Malaysia, Bahrain, in addition to entering the Jordanian and Singaporean markets this year.

Al-Subeih stressed that this role will be a part of KFH's efforts to expand in the GCC area and probe investment opportunities in the UAE, Oman, and Qatar; thus making it one of the most important corporations in the region through its business in various sectors.

Moreover, he stated that KFH's experience in the Gulf that started in Bahrain was a bridge that linked KFH to the Gulf region.

KFH prefers the Gulf area since it is the least affected by crises, in addition to the money surplus in that area, since it is rich with oil, which is a product that is constantly demanded to meet needs in various fields.