As Saudi Arabia accelerates its Vision 2030 transformation, Al-Futtaim has announced a SR10bn ($2.72bn) investment plan — one of its largest yet in the Kingdom — reaffirming regional confidence in Riyadh’s economic diversification agenda.
The Dubai-based conglomerate said the investment will be deployed over the next three years, doubling its existing commitments of more than SR5bn ($1.33bn) in Saudi Arabia.
The pledge underscores Al-Futtaim’s role as a strategic partner in supporting the Kingdom’s drive toward sustainable growth and industrial transformation.
Al-Futtaim announced the investment on the opening day of the Future Investment Initiative (FII9) in Riyadh while participating in high-level discussions with global investors and government leaders.
Al-Futtaim creating 1,000 jobs in Saudi Arabia
Al-Futtaim’s SR10bn commitment will create more than 1,000 jobs across key industries and support the development and leadership of local talent.
Al-Futtaim said the strategy aligns with Saudi Arabia’s localisation agenda through a focus on knowledge transfer, robust local supply chains, and building a skilled Saudi workforce positioned to lead the industries of the future.
Marwan Shehahdeh, Group Director, Corporate Development at Al-Futtaim, said: “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 SR10bn 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.”
Four sectors powering the Vision 2030 agenda
Throughout FII9, Al-Futtaim is showcasing an integrated investment strategy directed into sectors critical to Vision 2030’s goals.
- 1. Mobility transformation: The group is accelerating e-mobility and the democratisation of the automotive sector through partnerships with leading electric-vehicle brands, including BYD. It aims to introduce advanced EV technologies and sustainable commercial transport solutions to the Saudi market
- 2. Retail experiences: Through a landmark partnership with Cenomi Retail — including the acquisition of a 49.95 per cent stake — Al-Futtaim is expanding omnichannel, AI-enabled, and customer-centric retail experiences. The collaboration brings leading global brands and lifestyle offerings to Saudi consumers, reshaping the national retail ecosystem
- 3. Insurance and financial services: Through its subsidiary Orient Insurance, Al-Futtaim is reinforcing confidence in Saudi Arabia’s financial sector by promoting resilience and supporting economic inclusion with customer-focused insurance and financing solutions
- 4. Real estate development: Al-Futtaim is broadening its footprint in real estate to support the Kingdom’s rapid urban transformation, developing modern, integrated communities designed to connect people and enhance quality of life
Gulf investment wave
The commitment adds to a series of regional capital announcements unveiled at FII9 in Riyadh, as Gulf conglomerates align their long-term investment strategies with Vision 2030.
The national agenda aims to diversify the economy beyond oil, strengthen industrial capacity, and attract private sector partnerships worth trillions of riyals by 2030.
As global attention turns to Riyadh during FII, Shehahdeh said: “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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