The Future Investment Initiative Institute has moved its 10th flagship conference, originally scheduled for Oct. 26–29 in Riyadh, to 2027. The organizer has not announced a replacement date.
The official notice says the delay is intended to preserve the scale and quality of the milestone event. It does not mention Saudi Arabia's security situation. Reuters reported that organizers confirmed the move after recent deadly attacks disrupted business across the kingdom.
The announcement ends several days of uncertainty over the conference. The Financial Times reported earlier Monday that the in-person gathering would not proceed as planned and that organizers were considering either a virtual event or a postponement. The Wall Street Journal later reported that attendees were told the conference would be delayed until next year.
Security concerns reshape the event
Reuters linked the postponement to an escalating conflict with Yemen's Iran-aligned Houthis, whose recent strikes have hit Saudi military, energy and civilian infrastructure, including Riyadh's international airport. The outlet said attacks at the airport killed at least 18 people and wounded hundreds this month.
Safety concerns were also building among expected attendees. Semafor reported that major banks and private-equity firms privately raised concerns with Yasir Al-Rumayyan, governor of Saudi Arabia's Public Investment Fund, which backs the conference.
A showcase for Saudi investment
Often called “Davos in the Desert,” the state-backed conference has become a prominent meeting for global financiers and a showcase for Saudi Arabia's effort to attract investment beyond hydrocarbons. A draft program listed Goldman Sachs CEO David Solomon, Standard Chartered CEO Bill Winters and Citi CEO Jane Fraser among the expected speakers, according to Reuters.
The FII Institute says only that the event will return in 2027. Organizers told Reuters that a new date would be announced soon.
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