The King Street hedge wants to get a license to work in Saudi Arabia

King Street Capital Management intends to improve its presence in Saudi Arabia, to join a growing wave of world investors trying to take advantage of the economic transformation plan of a trillion dollar in the kingdom. Alternative asset management company, which amounts to $ 28.5 billion, seeks to obtain a License from the Saudi Capital Market Authority, enables it to carry out its activities and manage customer money in the kingdom, according to well -known people who asked not to reveal their identity because of the confidentiality of information. King Street invests in debt tools, real estate and guaranteed loan obligations, and it also has hedging boxes and gradual capital clouds. You may also be interested in: Saudi Arabia offers new incentives to attract local headquarters for international businesses. The company has signed a memorandum of understanding with the ‘Saudi Real Estate Re -Finance Company’, which is affiliated with the ‘Public Investment Fund’, which has a value of $ 940 billion, to enable banks to sell real estate mortgages to individuals. The agreement aims to attract foreign capital to the Saudi market and support the goals of the Saudi Vision 2030 in the housing sector. King Street and the Public Investment Fund refused to comment on the matter, while the Saudi property financing business did not respond to suspension requests. The encouragement of world investors in Saudi Arabia comes this step at a time when the Kingdom continues to encourage world investors to establish a real presence within the country, or run the risk of losing the handling with government agencies. In May 2024, Goldman Sachs became the first US Bank of Wall Street to have a local headquarters license in the kingdom. In the same context, Black Rock announced that it will finance up to $ 5 billion of the ‘Public Investment Fund’ for investment in the Middle East, and the establishment of an investment team in Riyadh. The company was also approved to establish a regional headquarters in the Saudi capital, and it was assigned to contribute to the development of the mortgage market in the kingdom. King Street is currently in a local presence in Dubai, where Reda Zabdi runs the company’s operations in the Middle East. The emirate, and its neighbor, Abu Dhabi, have attracted a number of prominent investment companies, including Andurand Capital Management and Brevan Asset Management, over the past few years. The Dubai International Financial Center currently offers more than 70 hedge funds, mostly one billion dollars.