US Emerges as Largest Greenfield Investor in Saudi Arabia in H1 2025

Riyadh, Saudi Arabia – August 21, 2025 - The United States has emerged as the leading source of greenfield foreign direct investment (FDI) in Saudi Arabia during the first half of 2025, according to the latest Emirates NBD report.

American investors accounted for 61 projects valued at USD 2.7 billion (SAR 10.1 billion), representing nearly one-third of both project count and capital investment in the Kingdom during the six-month period.

Rising Greenfield Activity

Overall, greenfield projects rose by 30.1% year-on-year to 203 in H1 2025. Total investment inflows climbed modestly, up 1.7% YoY to USD 9.34 billion (SAR 35 billion), underscoring Saudi Arabia’s growing position as a hub for international capital inflows.

Key Investor Countries

Following the United States, several other countries played pivotal roles:

• Egypt ranked second in capital investment with USD 1.81 billion (SAR 6.8 billion) from 11 projects, largely driven by major real estate developments.
• China contributed USD 858.3 million (SAR 3.2 billion) through 11 projects.
• France invested USD 771.7 million (SAR 2.9 billion) across six projects.
• The UAE expanded its regional footprint with 25 ventures worth USD 205.3 million (AED 754 million).

Leading Cities

Saudi Arabia’s capital, Riyadh, consolidated its status as the primary destination for foreign direct investment, attracting:

• 100 projects worth USD 2.3 billion (SAR 8.6 billion).

Other major cities also saw strong inflows:

• Dammam secured 21 projects valued at USD 1.28 billion (SAR 4.8 billion).
• Jeddah recorded 13 projects with investments totaling USD 1.22 billion (SAR 4.6 billion).

Sectors Driving Investment

The business services sector led in terms of project count, accounting for 55 projects, or 27% of the total.

By value, however, communications attracted the highest investment inflows, reaching USD 1.92 billion (SAR 7.2 billion) from just 11 projects. This was primarily driven by Equinix’s USD 1 billion data centre investment, announced during LEAP 2025.

The real estate sector ranked second in terms of investment volume, drawing USD 1.79 billion (SAR 6.7 billion) from only nine projects, highlighting its continued appeal for large-scale developments.

This surge in greenfield investment illustrates not only Saudi Arabia’s diversification strategy under Vision 2030, but also the global appetite for participation in its expanding real estate, communications, and services sectors.