Derayah committed SAR 244 million to a fund investing in artificial intelligence, enterprise software and advanced technologies, paying 40%, SAR 97.5 million, on 28 August, with the remaining 60% due over 24 months. The fund targets SAR 4.5 billion and is capped at SAR 5.62 billion, with roughly 15 portfolio companies expected.
SAR 244 million has been committed to a SAR 4.5 billion fund that will support approximately 15 companies. The selection of the Saudi AI cohort is currently underway.
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Two and a half billion for megawatts
HUMAIN is seeking a fund with an initial target of $2.5 billion to finance 250-megawatt data centres being built with Al Moammar Information Systems, with capacity that could eventually rise to 1 gigawatt. BSF Capital manages the fund, Saudi Investment Bank is soliciting investors, and Capital Market Authority approval is expected to take 2 to 3 months, with financing structured as a mix of debt and equity.
Raising a dedicated fund, instead of using the balance sheet, positions data centre capacity as an investable asset class, with debt and equity allocated to external investors.
This year cut, next year doubled
A Bloomberg survey of 15 economists at major international banks, conducted between 11 and 16 September, put average expected Saudi GDP growth for this year at about 0.6%, down from 1.6% in the previous survey, with individual estimates ranging from growth of close to 3% to a contraction of 2.5%. The same economists expect the Saudi economy to grow about 6.1% in 2027, and the survey period coincided with the attack that temporarily halted the East-West pipeline.
The difference between this year and next reflects a disruption rather than a trend. Investors considering Saudi exposure should view the 6.1% figure as a rebound estimate that requires separate stress testing.
License Number 77
SAMA approved Credit Line for micro consumer finance, taking licensed finance companies to 77 against a Vision 2030 target of 525, with fintech micro-lending capped at SR25,000 per borrower
The takeaway: As license numbers grow toward the 2030 target, the real advantage lies in owning distribution and the customer's daily habit, which are key to winning in the lending market.
