Saudi Arabia’s General Organization for Social Insurance (GOSI), which administers the kingdom’s national insurance scheme, said the market value of its investments across 71 Tadawul-listed firms stood at SAR 113.3 billion by the end of 2015.
Banks dominated the largest share of GOSI’s investments, with 45 percent or SAR 51 billion.
Petrochemical industries came second, accounting for 23.8 percent, or SAR 26.9 billion of total investments.
The state-owned organization added that it had invested in 11 banks, led by Riyad Bank, in which it held a 16.73 percent stake.
It also owned a 16.25 percent stake in National Petrochemical Co. (Petrochem), along with other investments in various sectors including cement, retail, energy and telecommunication.
Meanwhile, GOSI invested in 17 residential and commercial complexes, in addition to investment projects in the country worth a combined SAR 5 billion.
The organization has invested to build the Hilton Riyadh Hotel and the Al-Rimal residential development at an estimate cost of SAR 1.9 billion for each project.
|
GOSI’s Investments by Sector |
||
|
Sector |
Market value (SAR bln) |
Percentage/Total |
|
Banks |
50.98 |
45.0% |
|
Petrochemicals |
26.94 |
23.8% |
|
Telecommunication |
12.14 |
10.7% |
|
Real Estate Development |
5.76 |
5.1% |
|
Cement |
5.35 |
4.7% |
|
Agriculture |
3.77 |
3.3% |
|
Industrial Investment |
2.88 |
2.5% |
|
Insurance |
2.15 |
1.9% |
|
Retail |
1.86 |
1.6% |
|
Hotels & Tourism |
0.85 |
0.8% |
|
Building & Construction |
0.50 |
0.4% |
|
Energy |
0.13 |
0.1% |
|
Total |
113.32 |
100.0% |
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