LONDON: Saudi Arabia’s investment momentum across energy, healthcare and culture continues to grow, even as renewed tensions in Iran and the Arabian Gulf continue to cloud the regional outlook.
That was the message from business leaders and investors at the 18th edition of the BMG Economic Forum held at the London Stock Exchange on July 8, with attendees arguing that despite geopolitical uncertainty long-term capital flows into the Kingdom remain intact.
Jerry Inzerillo, CEO of Diriyah Company, told Arab News the project has continued to attract strong interest despite recent geopolitical disruptions.
“The subject of foreign direct investment is very important right now,” Inzerillo said, adding that “we haven’t lost any of our progress” over the past few months.
He pointed to the recent SR2.7 billion ($727 million) main construction contract for the Waldorf Astoria hotel, residences and mixed-use superblock, awarded to a joint venture between Hassan Allam Construction Saudi and UCC Saudi, as evidence of continued momentum around Diriyah.
