Saudi Arabian General Investment Authority (SAGIA) granted today an investment license to the Global Business Ventures Company to invest in the Saudi market, where it will bring up to 25,000 residential units, with an area of one million square feet of commercial areas in three locations north of Riyadh. This came in conjunction with the visit of His Royal Highness Mohammed bin Salman bin Abdulaziz, Crown Prince, Vice President of Council of Ministers and Minister of Defense to the United States. Governor of Saudi Arabian General Investment Authority Ibrahim Al-Omar said that license granting comes within the framework of the reforms taking place in the Kingdom, which contributed to offering opportunities to investors in the largest economy in the Middle East, in line with the vision of the Kingdom 2030, pointing out that the Authority works to eliminate all difficulties facing the investor, through the extension of the license of foreign investments to 5 years renewable and give the investor the option to reduce the period to one year at a minimum.
