we nevertheless see material opportunities for Saudi real
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justified by the market’s higher ROE’s (Saudi’s long term P/B premium
Saudi trades on 12mth FWD EV/EBITDA multiples of 9x
GEM funds allocation to Saudi Arabia remains relatively
we use MSCI’s standalone Saudi market index as a template
Saudi Arabia would be the thirteenth largest constituent of the MSCI EM
Saudi would be 2.8% of the MSCI and could
(2) Saudi Arabia (according to local press and the
Saudi Arabia would be the seventh largest constituent of
and the small size of existing Saudi hospital groups limits
we anticipate 1) job creation for Saudi nationals in the private
2) to reinforce the Saudi independence to
and Saudi Royal Guard Regiment could be heavily supported from elsewhere
a new government-to-government (UK/Saudi Arabia)
000 employees based locally. The UK and Saudi have