Saudi entrepreneurs have identified investment opportunities in Portugal’s housing and tourism sectors, which they consider “a great place to invest,” the president of the Saudi Arabia-Portugal Business Council told Lusa.
“Most municipalities have opportunities in housing, and there is a housing problem in Portugal. I think this is a very good area to invest in Portugal. And also tourism, with investments in hotels, hotel infrastructure,” exemplified Saudi businessman Alwalid Albaltan, at the end of a business mission to Portugal.
The Saudi delegation, composed of 15 members, including public decision-makers, business leaders, and investors, held meetings over seven days with members of the Portuguese government, municipalities, associations, and companies, aiming to “strengthen investment and economic cooperation.”
The Saudis also found opportunities for cooperation, highlighting sport as a key sector. Saudi Arabia will host the 2034 World Cup, four years after Portugal, Spain, and Morocco.
“We will see a lot of collaboration, transfer of ‘know-how’ in sports and event management,” said the businessman.
Albaltan highlighted that the delegation came to Portugal “to explore opportunities to invest throughout the country and not just in a specific area.”
Portugal is a great place to invest, and this is the right time. We see potential in small towns, big cities, everywhere, considered the businessman, who calls for easier access to information, both from municipalities and from projects launched by the Government.
“We just want accessibility through the right channels, and we will see many Saudi investors from the private sector emerging,” he assured, suggesting the creation of “a platform” that brings together “all investment opportunities in Portugal.”
Saudi Arabia, he exemplified, provides “a platform where you can see all investment opportunities without having to go to the country.”
During the visit, an agreement was signed between the National Association of Young Entrepreneurs (ANJE) and the Strategic Deals Company for Investment (SDCI), an Albaltan company, to support the expansion and activities of the Portuguese organisation in Saudi Arabia.
“The Saudi ANJE will be an accelerator, a centre for Portuguese and Saudi SMEs [small and medium-sized enterprises], to transfer know-how and build bridges between the two countries,” explained the official.
He stressed that Portugal “is the diamond of Europe” and “a hub for SMEs,” serving as “a great example that will benefit Saudi entrepreneurs.”
In addition, the businessman decided to establish companies in Vila Nova de Gaia: SDCI, focused on investment opportunities, and Prestige, focused on urban solutions and municipal projects.