RIYADH: Saudi Arabia’s closed deals more than tripled to reach a total of 101 in the first quarter of 2022 against the same period last year, with investments estimated at SR15.2 billion ($4 billion).
This represents a 225 percent increase from 31 deals in the same period last year, according to statistics by the Ministry of Investment of Saudi Arabia.
The newly closed deals are expected to provide nearly 6,000 job opportunities.
MISA’s figures revealed a significant rise in the number of new investors in the Kingdom, with the entrepreneurship and innovation sector attracting the strongest interest and contributing to 71 deals out of the total.
Financial services came second with 10 deals, whereas sport and petrochemicals recorded four and three deals, respectively. The rest of the deals were distributed almost equally to other sectors.
In terms of source of investment, the UAE was the top investor in Saudi Arabia during the first quarter with 12 deals, followed by Egypt with 11 deals, the UK with eight deals, and the US with five deals.
