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New Murabba Revival; Tadawul Bags Big Money; MGX Part of $40B Takeover
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Wednesday, July 22, 2026
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Saudi Arabia is attracting global investors, with foreign buyers pouring $1.6 billion into Tadawul in the second quarter as confidence in the kingdom’s markets grows. Meanwhile, PIF-backed New Murabba is opening investment opportunities inside its $50 billion Riyadh downtown project, bringing private capital into one of the region’s biggest urban developments. In AI infrastructure, Abu Dhabi’s MGX has joined BlackRock’s GIP and AIP in completing a $40 billion acquisition of Aligned Data Centers, marking one of the largest digital infrastructure investments to date.
Markets
EGX30 | 53,059.60 | 0.95% |
DFMGI | 5,775.91 | 0.654% |
ADX | 9,748.64 | 0.337% |
Tadawul | 10,716.90 | 0.001% |
PIF-Backed New Murabba Opens New Investment Opportunities In $50 Billion Mega Project
What Is It About
Saudi Arabia's New Murabba has launched a request for proposals (RFP) for three investment opportunities within its mixed-use development in Riyadh. The offering includes two land-sale opportunities and one joint venture development opportunity, as the Public Investment Fund (PIF)-backed developer looks to attract private-sector participation in the kingdom's flagship downtown megaproject.
Why It Matters
The move signals that New Murabba is entering a new phase, shifting from early construction and infrastructure works to bringing in private developers and investors. It also aligns with Saudi Arabia's broader Vision 2030 strategy of using private capital alongside government funding to accelerate the delivery of large-scale real estate and infrastructure projects.
What’s Next
The investment push comes after New Murabba resumed procurement earlier this year for The Mukaab, the project's iconic 400-meter cube-shaped landmark. Contractor proposals for the centerpiece of the $50 billion development are expected in 2027, marking another major milestone as construction advances and more private-sector opportunities are expected to follow.
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Saudi Arabia Attracts $1.6 Billion In Foreign Investment As Global Investors Double Down On Tadawul
What Is It About
Overseas investors bought a net $1.6 billion worth of Saudi stocks during the second quarter of 2026, making the kingdom the only Gulf market to record an increase in foreign buying, according to Kamco Invest. The surge follows Saudi Arabia's decision to fully open its stock market to all foreign investors from February 1, helping boost net foreign inflows by 75% year-on-year in the first half of the year.
Why It Matters
The strong inflows highlight growing international confidence in Saudi Arabia's capital markets and broader economic outlook. While regional markets faced pressure from geopolitical tensions, Saudi Arabia proved more resilient during the recent US-Iran conflict. Investors are also betting on the kingdom's economic diversification plans and continued growth, making Tadawul one of the region's most attractive equity markets.
What’s Next
Investor interest could climb even further if Saudi regulators follow through on plans to increase foreign ownership limits, which are currently capped at 49% for listed companies. A higher ownership threshold would make the market more accessible to global institutions, potentially attracting billions more in international capital and strengthening Saudi Arabia's position as the Middle East's largest financial market.
Abu Dhabi’s MGX Joins $40 Billion Deal To Acquire AI Data Center Giant Aligned
What Is It About
Abu Dhabi's MGX, alongside the Artificial Intelligence Infrastructure Partnership (AIP) and BlackRock's Global Infrastructure Partners (GIP), has completed the acquisition of Aligned Data Centers in a deal valuing the company at around $40 billion. The transaction is one of the largest private investments ever made in digital infrastructure and marks the first investment by AIP.
Why It Matters
The acquisition underscores the race to build AI infrastructure as demand for high-performance data centers surges. Aligned operates 51 campuses with more than 6.4GW of operational and planned capacity across the US and Latin America. The consortium has also committed an additional $5 billion to expand AI-ready facilities, reinforcing the strategic importance of computing infrastructure in the AI era.
What’s Next
Aligned's existing management team will continue leading the company as it expands its footprint and develops next-generation, energy-efficient AI data centers. Meanwhile, AIP aims to deploy $30 billion in equity capital, with the potential to support up to $100 billion in total AI infrastructure investments, positioning the partnership as a major force in financing the next wave of global AI growth.
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Smashi Business Exclusive: Al Haboob Racing Founders On Turning Camel Racing Into A Global Franchise Model
Ahmed Al Haboob and Safwan Modir, founders of Al Haboob Racing, spoke on Smashi Business about building the world’s first professional camel racing team in Saudi Arabia. They explained how they are transforming a traditional, individual sport into a structured, franchise-style model inspired by Formula 1, with teams, sponsorships and long-term commercial value.
The founders discussed leaving corporate careers during the pandemic to pursue entrepreneurship in a “virgin” sports market, despite high operational risks tied to livestock performance. They also highlighted media ventures like their Netflix series Camel Quest, partnerships including Paul Pogba, and their vision to modernize the sport using data and technology.
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