An investment seminar was held in Jeddah last week to follow up on the interest shown by Saudi businesses, during the visit by Crown Prince Mohammed bin Salman to India in February this year, in investing more than $100 billion in the country.
The event was hosted by Invest India, which is part of India’s Ministry of Commerce and Industry, in collaboration with the Consulate General of India in Jeddah, Saudi Arabian General Investment Authority and the Jeddah Chamber of Commerce and Industry (JCCI).
Mohammed Noor Rahman Sheikh, the consul general of India, highlighted the tremendous improvements in bilateral trade between India and Saudi Arabia since the visit of Indian Prime Minister Narendra Modi to Saudi Arabia in 2016 and the visit of the crown prince to India.
He also assured the Saudi business representatives that they would receive all possible assistance from the consulate to help them connect and work with Invest India and other authorities to ensure the process of investing in the country is as easy as possible, and that Indian companies would similarly receive the help they need to work with Saudi partners.
Hasan Ibrahim Dahlan, the secretary-general of JCCI, said his organization will do all it can to connect Indian businesses with Saudi investors.
The Invest India delegation, which included Varun Sood, senior assistant vice president, Astha Tyagi, senior manager, and Achal Walia, manager, highlighted the transformation that India has undergone in the past five years and the improvements across most economic, business and regulatory frameworks. As a result, they said, India’s ability to absorb large investments improved substantially, backed by a game-changing regulatory overhaul of the economy. Consequently, the country has been among the highest recipients of foreign direct investments over the past five years.
Invest India is the national investment promotion and facilitation agency of the government of India. Its team of domain and functional experts provides sector- and state-specific inputs, along with support to investors throughout the entire investment cycle.
Invest India hosts seminar for Saudi businesses
Invest India hosts seminar for Saudi businesses
Sulaiman Al-Rajhi Endowment projects worth SR8bn launched in Makkah
Sulaiman Al-Rajhi Real Estate Company has announced the launch of several real estate projects belonging to the Sulaiman Al-Rajhi Endowment system in Makkah, with a total investment exceeding SR8 billion ($2.1 billion). These projects include commercial, residential, and hospitality developments, as well as strategic land plots, as part of the company’s commitment to supporting the Kingdom’s real estate sector and enhancing the quality of life in the holy city.
The announcement was made during a field tour by a delegation of high-level officials including Saleh Al-Rasheed, CEO of the Royal Commission for Makkah City and Holy Sites; Ihsan Bafakih, chairman of the board of directors of Sulaiman bin Abdulaziz Al-Rajhi Holding Company; Haitham Al-Fayez, chairman of Sulaiman Al-Rajhi Real Estate Company and CEO of Sulaiman Al-Rajhi Holding Company; Moath Al-Mukhudub, managing director and CEO of Sulaiman Al-Rajhi Real Estate Company; and Anas Mansour Abadi, CEO of real estate at Sulaiman Al-Rajhi Holding Company and representative of the Sulaiman Al-Rajhi Endowment, alongside members of the board of directors of both the holding and real estate companies and the executive team.
The tour included the launch of the Tilal Towers project, with an investment value of SR2 billion, featuring more than 2,500 hotel rooms, strengthening the hospitality sector in Makkah.
The delegation also visited the Tilal Village project, valued at SR2.8 billion. It is one of the prominent qualitative projects within the hospitality ecosystem in Makkah.
Furthermore, the visit covered the residential buildings within Tilal Village, comprising 828 units, with an investment of SR800 million. The delegation inspected the specialized hospital, medical complex housing, and the office and commercial plazas.
During the tour, a contract was signed for the Al-Rajhi Center project, valued at SR250 million, as part of a comprehensive rehabilitation plan.
The inspection also included the Al-Ukayshiyyah land, spanning 4 million square meters, and the Al-Ghazzawi project land, valued at SR250 million.
The tour concluded with prayers at the Aisha Al-Rajhi Mosque, the second-largest mosque in Makkah after the Grand Mosque, with a capacity for 50,000 worshippers.
This visit underscores the importance of these investments, which represent a clear direction toward enhancing the management of the endowment’s assets through diversification, redevelopment, and strategic expansion, in line with the development goals of the Makkah city and Saudi Vision 2030.
Sulaiman Al-Rajhi Real Estate, a subsidiary of Sulaiman bin Abdulaziz Al-Rajhi Holding Company, continues to provide innovative solutions to elevate the real estate sector to international standards.
