BlackRock chief hails Saudi Arabia as best investment destination

By bnm Gulf bureau February 24, 2025

BlackRock Chairman Robert Kapito has described Saudi Arabia as the best investment opportunity he has seen in his professional career, Argaam reported on February 24.

"If Saudi Arabia were a company and I was looking to invest my money, I would invest with complete confidence," Kapito said, highlighting unprecedented potential returns through novel investment channels.

The kingdom has shifted its focus from oil to energy and technology sectors as the foundation of its current Vision 2030 programme, Kapito noted.

He said that the task now lies in identifying viable companies and sectors for investment.

BlackRock is establishing a major office in Saudi Arabia, positioning itself ahead of competitors.

"Visiting Saudi Arabia is what makes you a true investor. It allows you to see the enthusiasm, positive energy and ambition of the officials," Kapito said.

The firm sees strong long-term return potential in the Saudi market, according to the BlackRock chairman, who spoke during a panel discussion at the Miami summit.

Related Articles

Saudi Import-Export bank signs 3 agreements with global insurers to boost trade finance

Saudi Export-Import Bank has signed three reinsurance agreements with Allianz Trade, French export credit agency BpiFrance, and American International Group (AIG), SPA reported on February 25. ... more

Saudi ACWA Power signs $2.3bn agreement to build 2GW wind power plant in Egypt

Saudi Arabia renewable energy firm ACWA Power has signed a 25-year power purchase agreement (PPA) with Egyptian Electricity Transmission Company (EETC) to develop, build, own, and operate a 2GW wind ... more

Saudi capital unveils first citywide infrastructure coordination plan

Riyadh has launched its first comprehensive master plan to coordinate all infrastructure projects across the Saudi capital in 2025, aimed at reducing congestion and optimising development efficiency. ... more

Dismiss