Saudi Entrepreneurs Eye Investment in Portugal
Saudi Arabian business leaders are identifying investment prospects in Portugal’s housing and tourism sectors, with one president noting it’s “the best place to invest.” This sentiment was shared during discussions with the Saudi-Portuguese Business Council.
“Many municipalities offer housing opportunities, and there’s a significant housing issue in Portugal. I believe this area is ripe for investment. Additionally, tourism, especially in hotels and related infrastructure, represents a good opportunity,” remarked Saudi businessman Alwalid Albartan after a business mission in Portugal.
The 15-member Saudi delegation, which included officials, entrepreneurs, and investors, spent a week engaging with Portuguese government representatives, local authorities, and businesses. Their goal was to enhance investment and economic collaborations.
Sports also emerged as an important focus, with the Kingdom pointing out potential cooperation avenues, especially with Saudi Arabia preparing to host the 2034 World Cup, following Portugal, Spain, and Morocco.
“We anticipate significant cooperation and knowledge transfer in sports and event management,” Albartan added.
He emphasized the delegation’s intent to explore investment opportunities across all regions of Portugal, not just in specific areas. “Portugal is a fantastic place for investment and, honestly, the timing couldn’t be better. We see value in everything from small towns to major cities,” he noted, highlighting the need for improved access to information through local authorities and government initiatives.
“What we’re looking for is a streamlined approach to access the right channels, and that will pave the way for many Saudi private sector investors,” he pointed out, proposing the creation of a centralized “platform” to showcase all investment options in Portugal.
He provided an example of how Saudi Arabia could develop a similar platform to present various investment opportunities without necessitating visits.
During the visit, a partnership agreement was finalized with the National Association of Young Entrepreneurs. Albartan’s Strategic Deals Company for Investment (SDCI) will aid in expanding Portuguese organizations in Saudi Arabia.
“Saudi ANJE will function as an accelerator and a center for Portuguese and Saudi small and medium-sized enterprises (SMEs),” he stated. The aim is to share knowledge and establish a connection between the two nations.
He emphasized Portugal’s status as the “Diamond of Europe,” describing it as a “hub for SMEs,” which serves as a noteworthy model for how Saudi entrepreneurs could benefit.
Furthermore, Albartan announced plans to set up a company in Vila Nova de Gaia, named SDCI, focusing on investment opportunities, alongside Prestige, which aims to tackle urban solutions and municipal projects.
