Saudi prince’s big challenge on US visit: Calming crackdown fears

The market should not expect a gold rush into Saudi Arabia, according to Stephen Schwarzman, chairman as well as CEO of Blackstone, the globe’s largest private equity firm.

“I think This particular’s going to take a while for the international community to watch what’s going on in Saudi as well as then engage as well as then invest. which’s pretty logical. Whenever you see a major change, you want to see how’s This particular going to work,” said Schwarzman, referring to overall reform during the Saudi panel in Davos.

Still, Schwarzman was upbeat about the prospects for brand new industries, particularly entertainment as well as leisure, as Salman eases strict social regulations.

“Everybody likes to either go to the movies or go to a theme park or do things which everyone inside the globe does which the Saudis haven’t done,” he said. “How is actually which going to fail?”

The Alshaya Group, a Kuwait-based operator of retail franchises, has plans to invest billions in shopping centers in Saudi Arabia, Executive Chairman Mohammed Alshaya told the panel. He claimed banks are more interested This particular year than last year in funding Saudi projects.

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