Saudi Arabia attracted USD 9.3 bn in greenfield FDI across 203 projects in 1H 2025, up 1.7% y-o-y in value and 30.1% in project count, according to an Emirates NBD report (pdf). The Kingdom attracted USD 22 bn in greenfield FDI last year, its third-highest level on record.

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Where the money went: Riyadh topped the list, drawing USD 2.3 bn across 100 projects, while Dammam secured USD 1.3 bn from 21 projects and Jeddah attracted USD 1.2 bn across 13 projects.

Who’s investing: The US was the top source of FDI, with USD 2.7 bn in investments across 61 projects accounting for 30% of all projects and 29% of total capital investment. Egypt came second (USD 1.8 bn, 11 projects), driven by major real estate developments. China contributed USD 858.3 mn through 11 projects, France invested USD 771.7 mn across 6 projects, and the UAE injected USD 205.3 mn across 25 projects.

Sector breakdown: Business services topped the project count with 55 projects, while software & IT ranked second with 35, followed by transportation and industrial equipment with 14 projects each, and financial services with 11 projects. In value terms, communications led with USD 1.9 bn (21% of inflows), driven by Equinix’s USD 1 bn cloud and data center in Riyadh. Real estate followed at USD 1.8 bn, with notable inflows also into electronic components (USD 879 mn), transportation & warehousing (USD 779 mn), and chemicals (USD 765 mn). Manufacturing was the most active sector in value terms, attracting USD 3.5 bn across 26 projects (38% of total inflows).

Big ticket investments: Equinix committed USD 1 bn to build a new cloud and data center in Riyadh, while an Egyptian consortium unveiled over USD 1.7 bn in mixed-use real estate projects across Riyadh and Jeddah. In the water sector, Spain’s Lantania and India’s L&T secured a USD 500 mn contract to develop the Ras Mohaisen desalination plant, according to a press release.

The big picture: The Kingdom is targeting USD 100 bn in annual FDI by 2030, compared to an annual average of USD 17 bn (2017–2022) and USD 19 bn in 2023.

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