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Saudi primed to attract investors with new $500bn NEOM development

Atlas Merchant Capital CEO Bob Diamond discusses where he sees opportunity in Saudi Arabia at the Future Investment Initiative conference in Riyadh.

He said following a visit to an exhibit on NEOM, the $500bn new Saudi development on the Red Sea, that Saudi has become a more important destination for international investors.

Read: The Red Sea appeal grows with a $500bn Saudi non-oil idea

Diamond’s company invests in financial services, particularly capital intensive businesses. “”Now we are looking at opportunities to partner with some of the financial institutions in Saudi, many of which have a large percentage of investment from the PIF,” he said.

Saudi public investment fund aims to manage $2trn assets by 2030

The Kingdom’s sovereign fund (PIF), aims to have at least $2trn of assets under management by 2030 targeting investment returns of 8 to 9 per cent.