More than £360m of new UK-Saudi investment has been announced, with the UK government saying the package will create 187 jobs across both countries, including 97 in the UK.
The UK Department for Business and Trade said new UK-bound commitments worth more than £150m include two London headquarters openings.
Alfanar, one of the the largest privately owned manufacturers of electrical and electronic products in Saudi Arabia, will establish a UK HQ to act as a global hub for its transport decarbonisation business, tied to a £94m investment and the creation of 80 skilled roles.
The office will support the £2bn Lighthouse Green Fuels project in Teesside, which is set to become the world’s largest sustainable aviation fuel (SAF) facility.
International Investment Gate (IIG) will open a European HQ in the capital with a 17-strong team to oversee £550m of UK assets under management and a new £60m UK property fund.
Further announcements span financial services, risk advisory and fintech in Saudi Arabia. Howden will launch a reinsurance business in the Kingdom in a multi-million-pound expansion that could create up to 30 jobs.
Control Risks will open a regional HQ in Riyadh employing more than 50 people, with a focus on developing Saudi talent.
Paymentology plans to establish a Riyadh presence, committing US$7.5m through local hiring and cloud infrastructure.
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In growth capital, Lexham Partners and ANB Capital are launching a US$200m MENA Growth Fund focused on backing the region’s growth-stage tech companies.
London-based Salica Investments, which launched the US$50m Salica Oryx Fund I in 2021 with half its capital allocated to Saudi Arabia, said 13 portfolio companies now have commercial registration and operations in the Kingdom and that it will launch a second US$75m fund later this year targeting MENA.
The government also highlighted more than 10 new partnerships in education and skills, including Cambridge University Press and Assessment opening an office in Riyadh that will employ nine people.
According to the UK Department for Business and Trade, the announcements build on more than £3.7bn of deals secured since May 2024, and has created more than 4,100 UK jobs.
Wider UK-Saudi developments cited by the government in recent months include Saudi Arabia raising US$39.2bn via the London Stock Exchange year-to-date in 2025 and the Public Investment Fund’s 15% acquisition of Heathrow Airport.
UK business and trade secretary Jonathan Reynolds described the latest commitments as a “major vote of confidence” in the UK economy and the government’s Industrial Strategy.
The UK continues to negotiate a trade agreement with the Gulf Cooperation Council; government estimates suggest a deal could increase UK-GCC trade by 16%, add £1.6bn a year to UK GDP and lift UK workers’ wages by £600m in the long term.
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