How will BlackRock's investments contribute to Saudi Arabia's economic diversification efforts

BlackRock’s investments are poised to significantly contribute to Saudi Arabia’s economic diversification efforts, particularly in alignment with the Kingdom’s Vision 2030 initiative:

Real Estate and Housing Sector Development

• BlackRock is partnering with the Saudi Real Estate Refinance Company (SRC) to develop the real estate finance market.

• The collaboration aims to support the growth of the mortgage market, which has quadrupled in size over the last five years and is expected to reach nearly $200 billion.

• This aligns with Saudi Arabia’s goal of increasing homeownership to 70% by 2030.

Infrastructure Investment

• BlackRock and the Public Investment Fund (PIF) are exploring infrastructure projects across various sectors, including:

• Energy

• Power and utilities

• Water and environment

• Transportation

• Telecommunications

• Social infrastructure

Capital Markets Enhancement

• BlackRock Riyadh Investment Management (BRIM) will launch investment strategies across multiple asset classes in the Saudi market, including both public and private markets.

• This initiative is expected to broaden local capital markets and drive investor diversification across asset classes.

Support for Vision 2030 Goals

• BRIM, launched with an initial investment mandate of up to $5 billion from PIF, aims to support foreign institutional investment into Saudi Arabia.

• The partnership will focus on sectors aligned with Vision 2030, such as technology, tourism, manufacturing, and renewable energy.

Knowledge Transfer and Skill Development

• BlackRock plans to establish the BRIM Graduate Development Program and partner with PIF Academy.

• This initiative aims to enhance local investment capabilities and develop Saudi-based asset management talent.

Attracting Foreign Investment

• BlackRock’s presence and investment strategies are expected to attract more foreign institutional investors to the Saudi market.

• This increased foreign interest could provide local businesses with access to a broader pool of capital and potential international partnerships.

By focusing on these key areas, BlackRock’s investments are strategically aligned with Saudi Arabia’s efforts to diversify its economy beyond oil, develop its financial markets, and foster growth in non-oil sectors as outlined in Vision 2030.