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Kingdom Holding invests SAR 12.8bn in 2-year programme

Kingdom Holding invests SAR 12.8bn in 2-year programme
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Riyadh – Mubasher: Kingdom Holding Company has concluded its multi-sector investment programme under which it injected  SAR 12.80 billion ($3.40 billion) over the past two years, according to a press release on Thursday.

The programme, which occurred between the second quarter (Q2) of 2020 and Q2-22, covered investments in the fields of integrated communication, alternative financing, mobility services, energy, in addition to digital media and entertainment.

Kingdom Holding’s programme also invested in artificial intelligence (AI), electronic commerce (e-commerce), insurance and asset management, as well as commodities and funds.

The new investments will endorse the listed company’s existing portfolio of banking, real estate, healthcare, education, petrochemicals, hotel management, social media, mining, and commercial aviation.

In the first three months (3M) of 2022, Kingdom Holding logged net profits after Zakat and tax worth SAR 5.92 million, lower by 6,407.37% than SAR 91.06 million in Q1-21.