Chinese group Shanghai Lujiazui Financial City Authority (SLFCA) is gearing up to inaugurate its first regional office at the King Abdullah Financial District (KAFD) in Riyadh, Saudi Arabia. This strategic move marks SLFCA’s second international unit, following the successful launch of its London office in 2016.
Renowned as the sole national-level development zone in China dedicated to finance and trade industries, Lujiazui Finance & Trade Zone has gained prominence in the dynamic landscape of the Pudong New Area. This area is also home to the China (Shanghai) Pilot Free Trade Zone, attracting investors, talents, and innovators from various sectors.
In collaboration with eWTP Arabia Capital (eWTPA), the SLFCA’s Riyadh office is poised to serve as a pivotal conduit, fostering cross-border collaborations and synergies between Shanghai and Saudi Arabia. Supported by eWTPA, this office stands as Shanghai’s gateway to the Saudi Arabian market, offering an official platform for seamless connectivity and partnership development across commerce, technology, finance, and other sectors.
The formal announcement of this strategic move took place at a significant event hosted by eWTPA in Riyadh. During the occasion, eWTPA solidified its partnership with SLFCA through the signing of a strategic agreement aimed at establishing an investment cooperation platform.
This collaboration between eWTPA and SLFCA is focused on nurturing comprehensive connectivity encompassing finance, trade, innovation, technology, and more. The objective is to foster robust exchanges in business, capital, and talent, effectively bridging the realms of China and Saudi Arabia.
Furthermore, an essential Memorandum of Understanding (MoU) was inked among eWTPA, SLFCA, and the King Abdullah Financial District Management & Development Company (KAFD DMC). This MoU signifies a commitment to enhanced cooperation between Riyadh and Shanghai, strengthening the bond between these major financial hubs.
Gautam Sashittal, Chief Executive Officer of KAFD DMC, underscored the significance of cross-border partnerships in fostering business growth and expansion. He emphasized that collaborations like eWTPA, in conjunction with the influential financial hubs of KAFD and SLFCA, play a pivotal role in creating new avenues for companies to thrive and explore untapped markets.
KAFD, being a driving force behind Riyadh’s economic aspirations, is hailed as the world’s largest LEED-certified mixed-use business district. Managed by King Abdullah Financial District Management & Development Company, KAFD offers an impressive array of 95 buildings, designed by 25 leading architectural firms. With 1.6 million sq m of cutting-edge office space, state-of-the-art facilities, and luxurious residences, KAFD represents a transformative urban community in the heart of Riyadh.
Jerry Li, Founder and Managing Partner of eWTPA, highlighted the immense value of the partnership between Riyadh and Shanghai. He emphasized that this collaboration allows Shanghai to lend its expertise in supporting Saudi Arabia’s Vision 2030. In turn, Saudi Arabia gains access to China’s thriving industries, such as commerce, technology, and finance, through its newly established Riyadh office. This bilateral synergy is poised to generate significant value and further strengthen ties between these dynamic cities.