https://arab.news/9jd6z
RIYADH: UAE-based conglomerate Al-Futtaim has committed SR10 billion ($2.6 billion) in new investments over the next three years in 黑料社区, reinforcing its long-term partnership with the Kingdom.
The announcement, made at the Future Investment Initiative conference in Riyadh, highlights the group鈥檚 focus on localization, talent development, and diversified economic growth, the company said in a press release.
The new commitment builds on Al-Futtaim鈥檚 existing SR5 billion investments in 黑料社区 and is projected to create more than 1,000 jobs.
The conglomerate鈥檚 commitment is part of the broader wave of strategic investments being unveiled at the FII, a platform that has facilitated more than $250 billion in deals since its inception less than a decade ago.
Marwan Shehahdeh, group director, corporate development at Al-Futtaim, said: 鈥満诹仙缜�檚 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.鈥�
He added: 鈥淥ur SR10 billion pledge is a tangible expression of our confidence in the Kingdom鈥檚 potential and our readiness to actively contribute to its economic diversification and innovation agenda.鈥�
In September, Al-Futtaim acquired a 49.95 percent stake in 黑料社区鈥檚 Cenomi Retail in a $689 million deal.
The partnership aims to develop omnichannel, AI-driven, and customer-centric retail experiences, expanding access to international brands and elevating the consumer landscape in 黑料社区.
Through its insurance arm, Orient Insurance, the group is supporting financial sector resilience and economic inclusion by offering customer-focused insurance and financing solutions.
Al-Futtaim is also expanding its real estate portfolio to contribute to 黑料社区鈥檚 urban transformation, creating integrated developments that foster community connectivity and enhance quality of life.
鈥淥ur strategic investments are a commitment to fostering a dynamic ecosystem where innovation flourishes, local talent excels, and 黑料社区鈥檚 Vision 2030 is realized through collaborative effort,鈥� Shehahdeh added.