The number of investment funds in Saudi Arabia has reached a new record high, indicating growing confidence in the country’s economic potential, according to the Capital Market Authority.

In the first quarter of this year, the number of investment funds surged by 35.3% compared to the same period in 2022, with a total of 1,076 funds now operating in Saudi Arabia. The increase was seen in both public and private funds, with 260 public funds and 816 private funds. This growth aligns with the Vision 2030 initiative, which aims to attract more investment and diversify the economy. The number of subscribers in these funds also rose by 53.2%, reaching 792,824 subscribers in Q1 2023. The real estate sector attracted the largest number of participants. The Saudi primary stock market, known as Tadawul, saw the number of listed firms rise by 4.2% compared to the previous year, while the parallel market (Nomu) experienced a significant increase of 116% in the number of listed companies. The Capital Market Authority approved several firms for listing during the period and received multiple proposals for offerings and listings. The ownership value of eligible foreign investors in the stock market also increased, reaching SR273.54 billion ($73 billion). Institutional investors dominated the primary market, with a 96.18% ownership percentage.

The CMA’s quarterly bulletin aims to provide transparent statistical information and market data to enhance the financial market’s transparency and promote further investment development.