First Global Family Office Investment Summit in Saudi Arabia was a huge success for the Organisator and all participants

Saudi Arabia is the largest economy in MENA (Middle East and North Africa) with more than 34 million inhabitants, whereas 58% of the population is under 35 years old. The country was changing extremely fast in the last few years. For example, in 2016 exactly 258 investment licenses were granted whereas in 2020 a total of 1278 licenses were granted, which is five times more than five years ago.

Also, Saudi Arabia is investing large amounts in world-class mega (1bn USD or more) and even 3 giga projects (10bn USD or more) and representing some of the most ambitious construction around the world.

Here are some impressive numbers concerning Saudi Arabia:

  • Saudia Arabia is in 8th place in the world for police service reliability
  • 96% internet usage penetration, compared to 53% penetration worldwide
  • 56 towers will be built in the King Abdullah Financial District
  • 54% of women in the workforce have a university degree

Very impressive are also some of the latest business reforms in Saudi Arabia. For example, it only takes 24 hours to issue a business visa. Furthermore, Saudi Arabia is modernizing its whole economy and is welcoming foreign investments across untapped sectors. Many top multinational companies are already in Saudi Arabia and the world’s largest company, aramco, is actually from Saudi Arabia with 1 billion USD revenue per day.

Recently the first-ever Ritossa Family Office Conference took place for the first time in Riyadh, Saudi Arabia with more than 350 family offices, business owners, Sheikhs, and many more who are representing over 4.5 trillion USD wealth. Our principal and founder, Markus Lehner, was part of the conference. He spoke about several topics such as co-investment opportunities, Cryptocurrency funds managed with AI, and how LEHNER INVESTMENTS is using their Artificial Intelligence in the investment process.

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