While Saudi Arabia has been hoping for years to open its market up to foreign investment, it has only recently seen the optimal time to do so as the Gulf region’s regulation has relaxed and nations look to diversify their economies.
According to reports, the latest sign of new competition entering the market is an exception to Dubai’s IPO rules; authorities will allow real estate conglomerate Emaar Properties to pursue a $2.45 billion acquisition offer, according to reports.
Reports say Saudi Arabia is now taking the plunge to encourage even more foreign investment, especially in the financial services market as governments look to expand their economies beyond oil.
Full content: Reuters
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