Saudi Arabia’s Cultural Development Fund (CDF), the Kingdom’s key financial enabler of the cultural sector, unveiled 28 agreements and announcements exceeding SR3bn ($933m) during the inaugural Cultural Investment Conference (CIC) in Riyadh.
The conference, organised by the Ministry of Culture under the patronage of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, highlights Saudi Arabia’s ambition to further develop its cultural economy and attract private-sector participation.
Majed Abdulmohsen Alhugail, CEO of the Cultural Development Fund, said: “As a centre of excellence and financial enabler for the cultural sector, the Cultural Development Fund works to strengthen integration across the cultural ecosystem and deepen strategic partnerships with the private sector—driving the sector’s sustainability and long-term growth.
Saudi culture investments
“The agreements signed during the Cultural Investment Conference reflect our commitment to advancing public–private partnerships through risk-sharing mechanisms and co-financing models that channel new capital flows into the cultural economy.
“These commitments mark a pivotal step toward building a thriving cultural sector that is globally competitive, generates investment and employment opportunities, and contributes to sustainable development.
“These efforts align with the National Culture Strategy and Vision 2030, which aim to raise the cultural sector’s contribution to GDP to 3 per cent, while increasing the private sector’s share to 65 per cent and diversifying the Kingdom’s economy.”
The announcements covered both investment and financing initiatives, including the establishment of three new investment funds, with CDF acting as an anchor investor for two of them.
The first, the SR375m ($100m) Saudi Film Fund, sees CDF partner with BSF Capital as anchor investor. The SR300m ($80m) Fashion Investment Fund, launched in collaboration with Merak Capital, is the Kingdom’s first dedicated fashion fund.
Kingdom invests in cultural assets
The third fund, valued at SR850m ($227m), was launched by the Cultural Assets Group and financed with SR200m ($53m) from CDF as part of its mission to enable growth in the cultural sector.
The Cultural Assets Group Fund will invest across visual arts, fashion, digital content, experience design, and emerging technologies — integrating public and private capital to localise intellectual property, attract international companies, and sustain the long-term expansion of the cultural economy.
The Saudi Film Fund, managed by BSF Capital, will invest in high-quality film projects and studio facilities both in Saudi Arabia and abroad.
It aims to develop the Kingdom’s film infrastructure and expand its international reach in collaboration with a leading global production company.
The Fashion Investment Fund, managed by Merak Capital, will support local and regional fashion companies and supply chains, nurturing Saudi brands with global potential while enhancing the sector’s sustainability.
Financing film and fashion
On the financing side, CDF launched the Co-Lending Product, the first of its kind in the cultural sector, in partnership with five leading financial institutions.
At the same time, it introduced five new financing products under “Cultural Finance”:
- Receivable financing
- Revolving loans
- Bridge loans
- Medium- and long-term loans
- Micro-lending
The Fund also signed cooperation agreements with three local banks to expand the reach of “Cultural Finance”, providing cultural MSMEs with flexible financing options tailored to their needs and enabling growth across the value chain.
Beyond investment and finance, CDF released its inaugural investment report, Saudi Arabia Cultural Market Outlook 2025: Vision, Impact, and Opportunities, mapping the cultural economy and highlighting 36 ready-to-invest opportunities introduced by the Ministry of Investment, Invest in Saudi, and CDF.
It also launched a digital investment platform to help local and international entrepreneurs explore opportunities in Saudi Arabia’s cultural market.
These initiatives were underpinned by new public and private partnerships. CDF signed Memoranda of Understanding with the Ministry of Culture, Ministry of Investment, Sparklabs, and Asyad Holdings to advance sector development.
It also signed cooperation agreements with the Royal Commission for AlUla, MBC Group, Rotana Studios, and the Saudi Coffee Company to drive sustainable growth and expand the cultural sector’s economic and social impact.
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