BlackRock's report puts Saudi Arabia at 359 of the 590 private-capital funds closed in the Middle East since 2015, or about 61%, against 143 in the UAE and 88 across other regional markets. Middle East sovereign wealth funds allocate 43.2% of assets to private capital against 35% for peers elsewhere, regional venture capital averaged $2.4 billion of deal value a year between 2021 and 2025 with a peak of $3.5 billion in 2022, and the GCC is entering an estimated $2.1 trillion investment cycle through 2030.
Holding 359 of 590 regional funds is not just a fundraising advantage; it is a gravitational force. Managers must now be in Riyadh to participate in the market.
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Spending cooled by 1.7 billion
Point-of-sale transactions fell to SR14.6 billion in the week to 8 August from SR16.31 billion the week before, with transaction count down to 253.4 million from 267.1 million, Riyadh accounted for SR4.88 billion of it, or 33.4%. Food and beverages led at SR2.28 billion across 58.41 million transactions, ahead of restaurants and cafes at SR1.9 billion.
The data shows that average spending has gone down. In reality, it's still the same people going out just as often, but now they pick cheaper options when they get there.
Where the Gulf's e-commerce money goes
Saudi Arabia accounted for approximately 93% of e-commerce investments across the GCC countries by 2025, up from 46% in 2021. E-commerce penetration in the Gulf retail sector stands at 11%.
Saudi Arabia has about 93% of the region's e-commerce investment, but with only 11% market penetration, it is receiving funding for online shopping that has not happened yet.
Four forecasts, all above 5%
Four international institutions expect Saudi growth above 5% in 2027: S&P at 8%, the IMF and World Bank at 7.9%, and Moody's at 5.1%. S&P cites exports through Yanbu on the East–West pipeline and the Kingdom's fiscal position; Moody's assumes a gradual recovery in oil output and Brent averaging $90 a barrel in 2027.
Forecasts between 5.1% and 8% all expect a recovery, but they differ on oil. The real question is how quickly exports through Yanbu will get back to normal.
