Shanghai Lujiazui Financial City Authority opens new office in Saudi Arabia’s KAFD

In a momentous event that marks a significant milestone in Sino-Arab relations, Shanghai Lujiazui Financial City Authority (SLFCA) visited the King Abdullah Financial District (KAFD) in Riyadh, announcing the establishment of its first office in the Middle East. This marks the opening of its second global office following the launch of the London office in 2016.

The event organized by eWTP Arabia Capital (eWTPA), an investment platform in KSA and China, was held at eWTPA’s Riyadh office.

Lujiazui Finance & Trade Zone is the only national-level development zone in China that specifies in finance and trade industries. Lujiazui is situated in Pudong New Area, home to the China (Shanghai) Pilot Free Trade Zone and the premier destination in Shanghai for investors, talents, and innovators.

At the event, eWTPA signed a strategic agreement with SLFCA on developing an investment cooperation platform. The two sides aim to synergize an all-round connectivity from finance, trade, innovation and technology, among others, and promote more robust exchanges in business, capital and talents linking China and Saudi Arabia.

An MoU was also signed by eWTPA, SLFCA and the King Abdullah Financial District Management & Development Company (KAFD DMC) to strengthen collaborations between the two countries’ major financial hubs, Riyadh and Shanghai.

Supported by eWTPA, the Riyadh office of SLFCA will serve as Shanghai’s primary gateway to the Kingdom of Saudi Arabia. It will operate as an official platform, connecting all market participants from both regions and fostering cross-border partnerships in commerce, technology and finance and other industries.

Highlighting the importance of cross-border collaborations, the CEO of KAFD DMC, Gautam Sashittal, explained, “Partnerships like eWTPA, along with financial hubs like KAFD and SLFCA, act as catalysts in fostering businesses across borders, creating new avenues for companies to grow and tap into new markets. This strategic agreement will pave the way for meaningful engagement in the days ahead and ensure smooth working relationships for individuals and businesses alike.”

KAFD is a key driver of Riyadh’s economic ambitions and is the largest LEED certified mixed-use business district in the world. It is owned and managed by the KAFD DMC. Set in the heart of the Saudi capital Riyadh and home of 95 buildings designed by 25 world-leading architectural firms, KAFD features 1.6 million square meters of state-of-the-art office space, world-class facilities, and iconic luxury residences, designed to transform the way urban communities live, work, and play.

Jerry Li, Founder and Managing Partner of eWTPA, emphasized the robust Saudi-China relations “The partnership holds immense importance for Riyadh and Shanghai, offering the potential to generate significant value. Shanghai aims to utilize its expertise to support Saudi Arabia in achieving its Vision 2030. In return, Saudi Arabia will view this newly established office as an entryway to gain insights into and further tap into China’s thriving industries, including commerce, technology, and finance.”

He added that “eWTPA hopes to continue contributing to the collaborative innovation and growth between China and Saudi Arabia.”

 About eWTP Arabia Capital:

Founded in 2019, eWTP Arabia Capital (“eWTPA”) is an investment firm based in Saudi Arabia and China. Backed by marquee investors, Public Investment Fund (PIF) and eWTP Capital, eWTPA helps create robust local digital ecosystems in the MENA region by partnering with market-leading Chinese businesses and providing a gateway for these companies to establish a strong and sustainable presence in the region. To date, eWTPA has invested in over 18 companies in the cloud and digital sector, 13 of which have already established themselves successfully in KSA, and 4 of which are expected to be listed soon; more have emerged as industry leaders or regional unicorns since its initial US$400 million Fund I.

 About KAFD:

 Situated in Riyadh, KAFD is an iconic business and lifestyle destination with state-of-the-art physical and digital infrastructure. The destination is owned and managed by King Abdullah Financial District Development and Management Company (KAFD DMC), which was established in 2018 and is a wholly-owned subsidiary of the Public Investment Fund (PIF), the sovereign wealth fund of the Kingdom of Saudi Arabia. KAFD’s 95 towers, designed by 25 world-leading architectural firms, have reshaped the skyline of Riyadh. The vibrant mixed-use district offers a range of experiences across its area of 1.6 million square meters and is the largest development globally to achieve LEED Platinum certification, the highest accreditation from USGBC (U.S. Green Building Council), which recognizes KAFD as a global leader in sustainability.