The FII9 is off to a strong start: The summit’s Day One is already seeing announcements of big-ticket investments and partnerships, although we expect the flow to rise dramatically by the end of the week as the summit culminates in its aptly named “dealday” on Thursday.

#1- Aramco closed the USD 11 bn lease and leaseback agreement for its Jafurah gas processing facilities with a consortium led by BlackRock’s Global Infrastructure Partners (GIP), it said in a press release yesterday. The finalized agreements — which includes heavyweights like the PIF, its Hassana pension fund, and the Arab Energy Fund, along with other investors from Asia and the Middle East — will see Jafurah starting production by year-end.

IN CONTEXT- The agreement — signed originally in August — covers the Jafurah field gas plant and the Riyas NGL fractionation facility, which is leased to the newly created subsidiary, Jafurah Midstream Gas Company (JMGC), and leased back to Aramco for 20 years. Aramco holds a 51% stake in JMGC, while the GIP-led consortium owns the remaining 49%. The consortium reportedly raised a financing package of nearly USD 10 bn last month to fund the investment.

ALSO- Aramco plans to invest USD 2 bn in Aramco Digital over the next two to three years to expand its technology capabilities, President and CEO Amin Nasser said. The company has invested a total of USD 6 bn in technology over the past two years and is also planning a 60% expansion of its gas business over the next five years, alongside continued growth in renewable energy and oil-to-chemicals projects, he added.

#2- Saudi and Britain strengthen investment ties: Britain secured a GBP 6.4 bn in two-way trade and investment agreements with Saudi during UK Chancellor Rachel Reeves’ visit to Riyadh, according to a statement. The visit included leading the largest-ever UK delegation to the FII conference.

The details: A refreshed MoU between UK Export Finance and the Public Investment Fund will seel provide up to GBP 5.1 bn in export credit support to PIF and its portfolio companies to help British suppliers land contracts in Saudi, as well as support purchases from UK-based businesses.

The package also includes:

  • Six Flags Qiddiya City is partnering with UK Export Finance for GBP 90 mn murabaha financing designed for UK creative, architectural, security and construction businesses;
  • Digital Bank Vemi will receive a GBP 75 mn investment from a consortium of unnamed Saudi investors and banking executives;
  • Saudi’s cybersecurity firm Cipherwill invest GBP 37 mn to launch a European office in London;
  • British climate‑tech firm Levidian is partnering with Kanoo Energy on regional decarbonization projects for up to GBP 7.5 mn in commercial opportunities over the next five years;
  • Barclays is establishing an RHQ in Riyadh to support capital flows and advisory services;
  • HSBC Saudi Arabia is relocating its headquarters to the King Abdullah Financial District in Riyadh;
  • UK-Bahraini Aberdeen Investcorp will advance infrastructure investments in the Gulf;
  • Analytics firm Quantexa is launching its Quantexa AI platform in the region.

INSIGHTS FROM THE SUMMIT-

Officials, investors, and global business leaders continued discussions on Day One, covering economic transformation, capital markets development, and the impact of new technologies. The agenda focused on the progress of Vision 2030 reforms, the private sector’s evolving role, and the challenges of rapid technological change.

Policymakers emphasized that the Kingdom’s diversification strategy is delivering results. 90% of foreign investment in Saudi Arabia now goes to non-oil sectors, Investment Minister Khalid Al Falih said, noting that while global FDI fell 10%, inflows to the Kingdom have quadrupled since Vision 2030’s launch, Asharq Business reported. He added that Saudi Arabia’s economy no longer fundamentally relies on oil revenues, with non-oil income now accounting for 40% of the government budget and the non-oil GDP expanding 4-5%.

Al Falih called on the private sector to increase its participation, arguing it is time for sovereign wealth funds including the PIF to scale back on their spending as projects reach mature stages to allow room for the private sector, according to Al Arabiya. He pointed to growing opportunities in advanced manufacturing, tourism, entrepreneurship, and venture capital, where startups have attracted over USD 1 bn, 60% from Middle Eastern investors.

ALSO- Financial institutions used the conference to highlight expansion plans in the Kingdom. Goldman Sachs will triple its staff in Riyadh to about 60, CEO David Solomon told Bloomberg, as it looks to grow in the private credit market and builds its onshore wealth management services. The bank sees potential in the Kingdom’s growing focus on AI and ongoing capital market reforms designed to attract more foreign investors. “I think you’re going to continue to see an influx of capital markets transactions,” he said.

Deutsche Bank is also moving to deepen its presence, as it has applied for a license to set up its regional headquarters in the Kingdom, Middle East and Africa CEO Jamal Al Kishi said. He cited the Kingdom’s emerging private credit market and growth in M&A activity as key opportunities.

AND- Private capital is expected to remain a major financing driver. Brookfield Asset Management’s head of private equity Anuj Ranjan said private equity and private credit will continue expanding “side by side,” rather than displacing the other, Bloomberg reported. He added that reduced government funding opens up huge potential for private capital to support companies seeking growth, following recent concerns triggered by bankruptcies at Tricolor Holdings and First Brands Group.

Other global capital leaders focused on broader market challenges. KKR Co-CEO Scott Nuttall said that infrastructure and real estate investment are currently challenging, although he stressed infrastructure remains “essential” for long-term economic growth, Al Arabiya reported. HSBC Group CEO Georges Elhedery said banks face increasing complexity as they manage differing national economic priorities while enabling global supply-chain connectivity.

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