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Saudi Arabia's sovereign wealth fund and five regional counterparts are projected to manage $18 trillion in assets by 2030, a 50% increase from 2024. The Gulf region, home to six of the world's largest sovereign funds, is focusing on investments in Asia and Africa, particularly in high-growth economies and the mining sector. As competition intensifies, these funds are enhancing internal capabilities and seeking experienced talent to drive innovation and performance.
Saudi Arabia's Zakat, Tax and Customs Authority (ZATCA) has set a deadline of March 31, 2025, for businesses with annual revenues exceeding SAR 40 million to file their February VAT returns. Late submissions may incur penalties ranging from 5% to 25% of the tax due. ZATCA urges timely filing through its official website or smartphone app to avoid these fines.
The Saudi Central Bank (SAMA) has issued a finance aggregation licence to Alannaya Al-Yatmania, making it the fifth company authorized to provide such services in the Kingdom. This initiative is part of SAMA's strategy to enhance financial sector efficiency and promote innovative solutions for greater financial inclusion. SAMA encourages the public to engage only with licensed financial institutions, with a complete list available on its official website.
Fore Coffee has filed for an IPO amid a temporary trading halt on the local exchange due to a market dip. The company plans to use the funds for expansion, targeting 60 new stores this year, including a second location in Singapore.In other news, Grab is expanding its grocery segment in Malaysia, which has outpaced its food delivery growth for two consecutive quarters. The company is acquiring Everrise to enhance its presence in the grocery market, despite challenges in profit margins.
Telr, a Dubai-based digital payments company, has obtained a Retail Payment Services license from the UAE Central Bank, allowing it to enhance its merchant acquiring and payment aggregation services. This milestone reinforces Telr's position in the digital payments sector and supports its mission to drive innovation in a cashless economy. The company offers a range of payment solutions across the UAE, Saudi Arabia, Bahrain, and Jordan, ensuring secure transactions through PCI-certified gateways.
Government-related entities in the Gulf are transforming project finance, driven by large-scale infrastructure and energy transition goals. This approach allows for long-term funding while minimizing public budget burdens, enhancing sustainability, and attracting private investment through public-private partnerships. Key projects in renewable energy and digital infrastructure reflect the region's commitment to economic diversification and technological advancement, supported by strong government involvement and risk mitigation strategies.
The Middle East's commercial airline fleet is projected to grow at a 5.1% annual rate from 2025 to 2035, surpassing the global average, with 2,557 aircraft expected. Saudi Arabia and the UAE will drive this expansion, focusing on narrow-body aircraft for domestic and short-haul flights, while maintenance spending is set to rise significantly. The region's aviation market is poised for substantial growth, supported by increasing passenger demand and strategic investments aligned with broader economic goals.
Riyadh has announced 20 new investment opportunities for 2025, spanning commercial, residential, retail, industrial, and leisure sectors, covering over 175,000 sq. meters across various districts. The initiative aims to enhance private sector participation in urban development, aligning with Saudi Arabia’s Vision 2030. Additionally, 87 new parks have been inaugurated, increasing the total to over 700, promoting community engagement and improving the quality of urban life.
Nayla Finance, a Saudi fintech firm, has raised $4 million in seed funding led by Sanabil Venture Studio by Stryber. The investment will enhance its data-driven lending platform and support micro-businesses across the Kingdom, with plans to allocate $2.7 million for debt financing to build its loan portfolio.
Saudi Nayla Finance has raised $4 million to support micro-enterprises, while Paysky, a digital fintech leader, has been recognized among Forbes Middle East’s Top 50 Fintech Companies for the third consecutive year. Founded in 2017, Paysky operates in 18 countries, offering innovative digital payment solutions, including the Yalla Super App, which has processed over 17 million transactions since its 2022 launch. The company continues to focus on expanding financial inclusion and driving digital transformation across emerging markets.
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gulf sovereign wealth funds poised for significant growth and strategic expansion
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