UK-Saudi Announce $483 Million Joint Investment

The UK’s Business Secretary Jonathan Reynolds said that more than 180 new jobs are set to be created in the UK and Saudi Arabia from more than $483.62 million of new joint investment.

Confirming the new investment at the GREAT FUTURES Summit held in London on Wednesday, he welcomed Saudi Arabia as a key partner for the government’s modern Industrial Strategy. The event was attended by hundreds of C-suite executives to boost trade and investment in each other’s countries and unlock new growth.

The new investments will create 187 jobs in both nations, of which 97 will be in the UK – backing the clean energies and professional and financial services sectors. The GREAT FUTURES campaign has provided the opportunity for both nations to focus on areas of collaboration, under the UK’s modern Industrial Strategy and Saudi Arabia’s Vision 2030.

New investments worth over $201.51 million into the UK include Alfanar launching its new UK Headquarters in London to establish a global hub for its transport decarbonisation business, which will deliver £94 million of investment, creating 80 skilled jobs to support the $2.69 billion Lighthouse Green Fuels project in Teesside – which is set to become the world’s largest Sustainable Aviation Fuels facility.

This builds on over $4.97 billion worth of deals secured since the launch of GREAT FUTURES in May 2024, which is creating more than 4,100 jobs in the UK – demonstrating the UK’s thriving partnership with Saudi Arabia in trade and investment.

Thriving Partnership

Jonathan Reynolds said that Britain has been a thriving business hub, and the new investment announcements are not only a major vote of confidence in the UK’s economy but demonstrate their thriving partnership with Saudi Arabia.

“Our modern Industrial Strategy is giving investors the confidence they need to plan not just for the next year, but for the next 10 years and beyond – helping to create economic growth as part of our Plan for Change,” he added.

During the summit, the Business Secretary took part in a fireside chat with Saudi Arabia Minister of Commerce Dr Majid Al-Kassabi, and co-chaired the Fifth meeting of the Economic and Social Committee of the Saudi Arabia-UK Strategic Partnership Council.

Dr Majid Al-Kassabi said that under the leadership of H R H Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister of Saudi Arabia, the Vision 2030 has driven profound economic transformation in the Kingdom. The Saudi-British Strategic Partnership Council stands as a key platform for deepening economic ties between the two friendly nations.

“Over the past year we have witnessed the transformation of ambitious plans into tangible results in promising sectors that position our nations at the forefront of global innovation. As we advance our Strategic Partnership, we are not just building economic ties but forging lasting bonds that will define the future of UK-Saudi relationship,” Al-Kassabi added.

New UK-Saudi investments

The other new investments include Lexham Partners and ANB Capital launching the first institutional $200 million Middle East and North Africa (MENA) Growth Fund focused on the second round of investors to back the region’s most promising growth-stage tech companies.

International Investment Gate (IIG) will open its European HQ in London and it will oversee $738.87 million of UK assets under management, alongside a new $80.6 million UK property fund.

Global insurance intermediary group Howden launching a reinsurance business in Saudi Arabia, in what will become a multi-million-pound investment that will potentially create up to 30 jobs – as the company continues to expand its global footprint to 56 countries.

London-based venture capital firm Salica Investments launched the $50 million Salica Oryx Fund I in 2021, with the objective of deploying 50% of the fund’s capital in Saudi Arabia – aimed exclusively at investing in the best early-stage technology companies.

As of today, 13 of the fund’s portfolio companies have commercial registration and operations in Saudi Arabia. Later this year, Salica Oryx will launch a second $75 million fund to continue the success and regional impact of its predecessor focused on MENA.

Since the GREAT FUTURES campaign was launched, Saudi Arabia has raised $39.2 billion via the London Stock Exchange in 2025 YTD and Saudi sovereign wealth fund PIF completing a 15% acquisition of Heathrow Airport.