Saudi Arabia’s foreign investments rise by 947 per cent
Saudi Arabia sees a surge in foreign investments of around $1.02 billion
Dubai: Saudi Arabia sees a surge in foreign investments of around $1.02 billion (Dh3.7 billion) in stocks on the Saudi Exchange in September, a remarkable 947 per cent increase compared to the same month last year.
Attracting foreign investment is a key goal of Vision 2030, as Saudi Arabia aims to establish itself as a global business hub. A recent Statista report, a business platform, noted the expansion of the Saudi market, highlighting that the country’s stock exchange, with a market capitalisation of $2.93 trillion (Dh10.7 trillion), ranks as the third largest in the Europe, Middle East, and Africa region.
According to Tadawul, net foreign purchases for the first nine months of this year totalled $4.3 billion (Dh15.7 billion), representing a 36 per cent increase from the previous year.
The total value of foreign ownership in Saudi stocks reached $110.5 billion (Dh405 billion) in September, reflecting a year-on-year increase of 13.39 per cent.
In contrast, Saudi individuals held stocks valued at $252 billion (Dh925 billion) in the main market, a rise of 18.71 per cent from the same period last year.
By the end of September, GCC investors owned stocks worth $20.7 billion (Dh76 billion) in the country’s main market, marking a 36.85 per cent increase compared to the previous year.