Economy & Energy
Saudi Arabia: the “Davos in the Desert” investment forum is postponed to 2027 amid Houthi attacks on Riyadh
Saudi Arabia’s Future Investment Initiative, known as the “Davos in the Desert”, planned for October 26-29 in Riyadh, has been postponed to 2027 as Houthi attacks target the Saudi capital.
The 10th Future Investment Initiative (FII10), the investment forum known as the “Davos in the Desert”, has been postponed to 2027. The event, titled “The Power of Legacy”, was scheduled for October 26-29 in Riyadh. The postponement was announced on Monday, October 19 by FII Institute chief executive Princess Maha bint Mishari Al Saud, and the news was also carried by the official Saudi Press Agency.
“The decision stems from our deep commitment to our partners, members, speakers and delegates,” the statement says. Because it is the “milestone” tenth edition, the Institute wants to ensure it has “the full scale, the exceptional quality and the unforgettable impact” participants expect. The new dates for 2027 will be announced “very soon”, while all registrations and partnerships remain valid. The statement gives only the quality of the event as the reason.
Riyadh in the Houthis’ sights
The decision comes as Riyadh is in the Houthis’ crosshairs. Their attacks have hit military, energy and political infrastructure in the country, including King Khalid International Airport, where a missile caused 12 deaths and 309 injuries. State bodies in Riyadh asked their employees to work from home from Monday to Thursday this week, while the Kingdom Centre skyscraper and companies in the KAFD financial district also asked staff to stay away. The EU–GCC summit planned in Riyadh for October 24 was also postponed.
On Monday the Houthis claimed responsibility for six operations within 48 hours against targets in Saudi Arabia, among them Aramco facilities at Yanbu, the Shaybah oil field and Riyadh airport. On October 13 a missile hit an Aramco administrative building in Dhahran, causing a limited fire with no injuries, as the Saudi energy ministry had announced. The foreign ministers of Saudi Arabia, the UAE and Turkey on Monday condemned the continuing attacks.
What the FII is
The FII began in 2017 on the initiative of Saudi Arabia’s Public Investment Fund (PIF) and is hosted at the King Abdulaziz International Conference Center in Riyadh. The Institute says the platform has facilitated investments of more than $250 billion and has more than 45 strategic partners. Speakers expected this year included Ruth Porat of Alphabet, David Solomon of Goldman Sachs and Larry Fink of BlackRock.
