Saudi Arabia’s Cultural Development Fund (CDF) announced agreements and initiatives valued at over $933 million at the inaugural Cultural Investment Conference in Riyadh, highlighting the Kingdom’s push to grow its cultural economy and attract private-sector investment.

Organized by the Ministry of Culture under the patronage of Crown Prince Mohammed bin Salman, the event featured the launch of three new investment funds, along with a range of financing products and partnerships aimed at supporting the sector’s long-term development.

The announced funds include the $100 million Saudi Film Fund, anchored by CDF in partnership with BSF Capital, aimed at financing high-quality productions and expanding film infrastructure; the $80 million Fashion Investment Fund, launched with Merak Capital to support local and regional brands; and the $227 million Cultural Assets Group Fund, backed by $53 million from CDF, which will invest in visual arts, digital content, fashion, and emerging technologies.

On the financing side, CDF introduced the Co-Lending Product with five banks—the first of its kind for the cultural sector—alongside tools such as receivable financing, revolving loans, bridge loans, medium- and long-term loans, and micro-lending. Agreements with three local banks will extend these products to cultural MSMEs.

The conference also marked the release of CDF’s first investment report, Saudi Arabia Cultural Market Outlook 2025, identifying 36 ready-to-invest opportunities. A new digital investment platform was launched to help entrepreneurs and investors access market prospects.

Several strategic partnerships were signed, including agreements with the Royal Commission for AlUla, MBC Group, Rotana Studios, and the Saudi Coffee Company, as well as MoUs with the Ministry of Culture, Ministry of Investment, Sparklabs, and Asyad Holdings.

Majed Alhugail, CEO of CDF, said the initiatives underscore the Fund’s role in enabling private investment and fostering public–private partnerships to develop a globally competitive cultural sector in line with Vision 2030, which aims to increase the sector’s GDP contribution to 3% and boost private-sector participation to 65%.