Inaugural Cultural Investment Conference Saudia Arabia Yields Art Fund, Creative Support & More

The first Cultural Investment Conference took place at the King Fahad Cultural Center in Riyadh, Saudi Arabia, Sept. 29-30. Here’s a summary of the main points that came out of it.

The launch of the first regulated art investment fund in Saudi Arabia and the borader MENA region by Saudi-based financial institution Audi Capital. The goal is to expand access to regional art markets, and supporting the long-term growth of the region’s cultural ecosystem.

“The Fund will primarily invest in modern and contemporary works from established and blue-chip artists from Saudi Arabia and the broader MENA region, with a majority allocation for regional art and the remaining for global art,” according to a press release from the conference.

The inaugural Cultural Investment Conference also brought forth a cultural patronage agreement between Deutsche Bank and Saudi Arabia’s Ministry of Culture with the goal of “strengthening bilateral relations and signaling new private-sector investment in the arts.”

As part of the agreement, the Ministry of Culture will host an international cultural delegation annually in Riyadh, Jeddah, or another culturally significant Saudi destination, while Deutsche Bank will organize an annual cultural delegation from the Kingdom to Frankfurt, Berlin, or London.

Also during the Cultural Investment Conference, Colnaghi, one of the world’s oldest commercial art galleries founded in London in 1760, signed an agreement with Sarat Investment Holding to open a Colnaghi gallery in Riyadh, which will be its first branch in the Middle East, located in Riyadh’s JAX District. The investment amounts to SAR 10 million ($2.7 million).

A memorandum was also signed between the Ministry of Culture and the Royal Commission for AlUla, a region in Saudi Arabia that blends diverse natural landscapes with authentic heritage and thousands of years of history.

The agreement outlines broad areas of cooperation, underscoring the joint development of cultural infrastructure in AlUla. It also supports the coordination of cultural events, festivals and initiatives across a wide spectrum of disciplines, including heritage, cinema, music, museums, culinary arts, visual arts, architecture, design and libraries.

There are also plans by the Ministry of Culture and the Royal Commission for AlUla to support the development of community-focused, educational and professional programs aimed at nurturing talent and enabling broader participation in the cultural sector at local, national and international levels.

“The agreement also seeks to stimulate the cultural economy, attract investment into creative industries, and support cultural entrepreneurs in establishing ventures in AlUla, driving inclusive economic growth and generating high-value employment anchored in creativity and knowledge,” according to a press release sent out after the inaugural Cultural Investment Conference.

The lineup of speakers featured investors, consultants and advisors, as well as many individuals from the world of art and art galleries, not so much the performing arts. One of the prominent representative for the live entertainment industry was 2025 Pollstar Women of Live honoree Nada Alhelabi, general manager of the MDLBEAST Foundation.

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