Saudi Arabia to establish first private equity fund for $26m dedicated to tourism investing

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Updated 11 January 2022
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Saudi Arabia to establish first private equity fund for $26m dedicated to tourism investing

RIYADH: Saudi Arabia's Tourism Development Fund, signed an agreement with investment solutions firm Derayah Financial to establish a SR100 million ($26 million) private close-ended equity fund.

It will be the first fund in the Kingdom to participate in the capital of small to medium-sized companies operating in the tourism sector, the Saudi Press Agency reported. The equity fund will target promising business opportunities in selective tourism areas across the Kingdom.

Derayah Financial will manage the new fund as it possesses wide expertise in assets and funds management in both the Kingdom and Gulf markets, according to a statement by Qusai Al-Fakhri, CEO of the TDF.

Aligning with the Kingdom’s economic growth, the fund is part of TDF’s efforts to promote tourism investment, Al-Fakhri added.

It is expected that the fund will increase investment diversity within the tourism sector through introducing new products and services and enhancing tourists’ experience in the Kingdom.


Closing Bell: Saudi main index closes in green at 11,382 

Updated 27 January 2026
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Closing Bell: Saudi main index closes in green at 11,382 

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Tuesday, gaining 111.21 points, or 0.99 percent, to close at 11,381.83. 

The total trading turnover of the benchmark index was SR6.37 billion ($1.70 billion), as 204 of the listed stocks advanced, while 56 retreated. 

The MSCI Tadawul Index also rose, adding 13.85 points, or 0.91 percent, to close at 1,533.33. 

The Kingdom’s parallel market Nomu gained 8.39 points, or 0.04 percent, to close at 23,749.38. This came as 30 of the listed stocks advanced, while 45 retreated. 

The best-performing stock was East Pipes Integrated Co. for Industry, with its share price surging 9.94 percent to SR146. 

Other top performers included Tourism Enterprise Co., which saw its share price rise by 9.93 percent to SR14.17, and Thob Al Aseel Co., which saw a 7.84 percent increase to SR3.99. 

On the downside, Saudi Arabian Mining Co. was among the weaker performers, with its share price falling 2.64 percent to SR77.40. 

Saudi Paper Manufacturing Co. saw its shares fall 2.54 percent to SR57.50, while Yamama Cement Co. declined 2.07 percent to SR27.40. 

On the announcements front, Future Vision for Health Training Co. signed a two-year cooperation agreement with King Saud University aimed at strengthening links between academia and professional readiness. 

According to a Tadawul statement, the partnership focuses on the joint development and execution of specialized training programs for university students, aiming to enhance their practical skills and employability. 

The initiative includes coordinated efforts in training design, academic supervision, and program evaluation, with the goal of better preparing graduates for the labor market. 

The agreement, which is renewable by mutual consent, is expected to start generating a positive financial impact in the second half of 2026. The company said no related parties are involved in the deal. 

The company’s share price closed at SR7.30 on Nomu, marking a 1.39 percent decrease.