Saudi deposits could be converted into new investments in real estate among other sectors

More Saudi investments incoming? The Central Bank of Egypt (CBE) is working alongside the finance and investment ministries to finalize a swap agreement involving Saudi Arabia’s deposits, which would convert some of the Kingdom’s outstanding deposits into new investments in real estate and other sectors, a government source told EnterpriseAM.

The details: The source didn’t disclose the nature of the proposed projects but noted that several agreements are currently under review, which are expected to significantly boost FDI. Half of the proceeds will be directed to the public treasury to help meet the growing financial needs of the upcoming fiscal year, with the financing gap set to amount to EGP 3.6 tn.

Saudi deposits at the CBE currently stand at around USD 10.3 bn — USD 5 bn in short-term deposits renewed annually, and USD 5.3 bn in medium-term deposits maturing in October 2026, according to the CBE data.

REMEMBER- Egypt is targeting USD 42 bn in net FDI in the upcoming fiscal year, with plans to increase that figure to USD 55 bn in FY 2028-2029. The FDI growth is expected to be driven by increased interest from foreign investors in Egypt — particularly from Gulf countries like the UAE, Saudi Arabia, and Qatar.

Net FDI inflows reached USD 6 bn in 1H 2024-2025, compared to USD 5.5 bn during the same period a year prior, driven by a strong performance in the non-oil sectors, including greenfield investments, real estate purchases by non-residents and reinvested earnings.