Saudi Arabia witnessed a notable increase in investment funds during the first quarter of 2023, reaching a milestone of 1,076. This reflects the confidence displayed by institutions and individuals in supporting the kingdom’s economic potential.

According to the recent bulletin by the Capital Market Authority, there was a notable surge of 35.5% in the number of investment funds during the first quarter of 2023 compared to the same period in the previous year. The private funds experienced a substantial increase, jumping from 542 last year to 816 this year, while the public funds witnessed a slight rise from 253 in 2022 to 260 this year.

Crown Prince Mohammed bin Salman of Saudi Arabia previously emphasized the nation’s robust investment capabilities, highlighting the need to leverage them to stimulate economic growth and diversify revenue sources. Saudi Arabia’s Vision 2030 also underscores the significance of attracting additional funds as a crucial aspect of the nation’s development.

The CMA reported a substantial increase of 53.2% in subscribers to public and private funds during the first quarter of 2023. The total number of subscribers reached 792,824, compared to 517,346 subscribers in the corresponding period of the previous year. Notably, real estate sector funds garnered the highest number of subscribers across both public and private funds.

At the end of March, the number of listed companies on the Tadawul, Saudi Arabia’s primary stock market, witnessed a 4.2% increase, reaching 244 firms. Additionally, the number of companies listed in Nomu experienced significant growth, with the number of listed companies rising from 25 last year to 54 by the end of the first quarter, reflecting a 16% increase.

According to the CMA bulletin, there was a 1% rise in the ownership value of foreign investors eligible to participate in the stock market. The ownership value increased from approximately $72.26 billion last year to $73 billion in 2023.