Houthi rebels struck a landmark building in the Riyadh Financial District
(KAFD), disrupting Riyadh’s plan to return to normal roughly a month after a
deadly strike on Riyadh airport that halted travel and forced event
cancellations. KAFD houses the Public Investment Fund (PIF), the Saudi stock
exchange and global consultancies and asset managers including Goldman Sachs and
Brookfield, raising confidence risks for international firms already hit by
months of regional conflict. The attack occurred during a remote-working period,
limiting immediate operational impact. The escalation could further increase
political pressure on Crown Prince Mohammed bin Salman as he seeks to advance a
multi-trillion-dollar economic diversification program. Saudi authorities have
delayed or canceled major events in the past month, including the AFC Asian Cup
and the Future Investment Initiative, which had been expected to support the
economy and attract foreign investment.
