Saudi Arabia’s National Infrastructure Fund (NIF) backed by the world’s largest fund manager BlackRock, is said to advice the kingdom on how to support up to $53bn in project-investments over the next 10 years.
NIF is part of the National Development Fund (NDF) that was created in 2017 with the aim of linking several economic development funds. BlackRock was hired by the NDF. According to the kingdom’s state news agency, the fund’s priority aim is to contribute to the development of the financial sector by finding alternative solutions to finance infrastructure projects and encourage the private sector to invest in these projects.
How practical has this been?
NIF’s project director Abdullah Abobakr has on a previous occasion stated that “the fund will play a key role in broadening infrastructure investment opportunities and in deepening infrastructure capital markets in the kingdom”.
Additionally, Knight Frank’s analysis of Saudi Arabia’s Vision 2030 revealed that nearly $300bn is dedicated to new infra projects, including rail networks and a $147bn Riyadh airport. Saudi Arabia is recreating itself and Vision 2030 is the roadmap towards it, with infrastructure developments and new business opportunities driving economic growth and diversification in the kingdom.
To discuss this and more, the team at Construction Week Middle East is excited to announce the first panel of the KSA Infrastructure Summit 2022 titled “How is the burgeoning infrastructure sector in Saudi Arabia supporting the Vision 2030 Agenda?”
The summit will highlight several infra-related developments that are creating an environment that enables the public, private and non-profit sectors to achieve the kingdom’s Vision 2030.
What is KSA Infrastructure Summit?
Construction Week Middle East has been closely following the growth of the construction and infrastructure sector in the kingdom and will continue to support its ambitious journey in this sector through our numerous events and conferences in the country.
Scheduled for 29 March 2022, the KSA Infrastructure Summit 2022 will take place at the Hilton Riyadh Hotel & Residences, starting at 10:00 AM. We have an exciting line up of panellists as well as presentations from industry experts for our summit, now in its second year.
To find out more information about the conference, please visit the event’s microsite, or reach out to our Conference Production Manager, Sherdil Babar, at sherdil.babar@itp.com for any further assistance on the event.
For sponsorship opportunities, you can get in touch with our Commercial Director, Anup Nagpurkar, at anup.nagpurkar@itp.com or our Senior Sales Manager, Moutaz Gadelhak at moutaz.gadelhak@itp.com.
The event is supported by our Gold Sponsor Khatib & Alami, an international multidisciplinary consultancy firm actively involved in the kingdom and the Middle East.
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