Saudi entrepreneurs are exploring investment opportunities in Portugal’s housing and tourism sectors, viewing the country as “a great place to invest,” according to Alwalid Albaltan, President of the Saudi Arabia–Portugal Business Council.
“Most municipalities have opportunities in housing, and there is a housing shortage in Portugal. Tourism also presents potential, particularly in hotels and related infrastructure,” Albaltan said at the conclusion of a seven-day business mission.
The 15-member delegation, which included public officials, business leaders and investors, met with Portuguese Government representatives, local authorities, associations and companies to strengthen investment and economic cooperation.
Sport emerged as a key sector for collaboration. Saudi Arabia will host the 2034 Football World Cup, four years after the joint Portugal–Spain–Morocco tournament. Albaltan highlighted opportunities for knowledge transfer in sports and event management.
The delegation aims to explore opportunities nationwide rather than focusing on a single region. “Portugal is a great place to invest, and this is the right time. We see potential in cities of all sizes,” he said, calling for improved access to information on municipal and government-led projects.
Albaltan also proposed creating a platform to centralise all investment opportunities in Portugal, similar to one already provided by Saudi Arabia, which allows investors to review projects remotely.
During the visit, Albaltan’s Strategic Deals Company for Investment (SDCI) signed an agreement with the National Association of Young Entrepreneurs (ANJE) to support the organisation’s expansion in Saudi Arabia. “The Saudi ANJE will serve as an accelerator and hub for Portuguese and Saudi SMEs, transferring know-how and building bridges between the two countries,” he explained.
Portugal, he added, “is the diamond of Europe and an SME hub, offering a model that will benefit Saudi entrepreneurs.” Albaltan also plans to establish two companies in Vila Nova de Gaia: SDCI, focusing on investment opportunities, and Prestige, specialising in urban solutions and municipal projects.