Saudi’s Events Investment Fund acquires stake in Tahaluf, aims to boost events sector

Saudi Arabia has become an influential international hub in recent years thanks to visionary initiatives and strategic partnerships.

Efforts are being made to diversify the economy, increase the efficiency of key sectors, enabling the nation to play a central role in the global landscape, attracting investments and opportunities.

In what is a milestone acquisition, Events Investment Fund (EIF), a multibillion-dollar government sponsored fund, has acquired a significant stake in Tahaluf, a Saudi-Arabia-based large-scale live events company. EIF is joined in the acquisition by SELA, the Public Investment Fund-owned event production company renowned for its creation of spectacular event experiences.

Tahaluf was created through a strategic joint venture between international Academic Markets, B2B Markets and Digital Services Group Informa and the Saudi Federation for Cybersecurity, Programming and Drones (SAFCSP). The partnership aims to bolster the events industry in the kingdom.

An official signing ceremony was held at Informa’s London headquarters on July 26.

Meanwhile, under the leadership of Crown Prince Mohammed bin Salman bin Abdulaziz Al-Saud, EIF aims to develop a sustainable infrastructure for the culture, tourism, entertainment and sports sectors across the kingdom, by deploying a $3.7bn fund to build 35 venues.

EIF-Tahaluf partnership

An anchor tenant in EIF’s flagship exhibition centre, Tahaluf, which means ‘alliance’ in Arabic, will play a crucial role. Leveraging Informa’s expertise, the events company will spearhead the launch of B2B live events, digital experiences and services, with a keen focus on industries such as technology, real estate, pharmaceuticals, food, health, beauty, tourism and hospitality.

By entering into this joint venture, Tahaluf is promoting high-value employment opportunities for Saudi citizens and contributing to the kingdom’s Vision 2030 initiative to diversify its economy.

Furthermore, drawing from Informa’s portfolio of events, Tahaluf is set to introduce global brands such as Cityscape, CPHI and Cosmoprof to Saudi Arabia, catering to the real estate, pharmaceutical and beauty industries, respectively.

The founding partners of Tahaluf, SAFCSP and Informa, in collaboration with the Ministry of Communications and IT, have already achieved an incredible feat by transforming LEAP, a tech event, into the world’s most attended gathering, attracting 172,000 attendees in just three years. Tahaluf aims to replicate this success with other launch events, aiming for equally impressive participation rates.

Read: Saudi’s LEAP23 bags honour of world’s largest tech event based on visits

“In three years, Tahaluf, with its government partners, has created the most attended tech event in the world, LEAP, and the most attended cybersecurity event in the world, Black Hat MEA. Soon, more world-class events with record-breaking stats will emerge across real estate, beauty, tourism, pharma, health, fintech, artificial intelligence and many more sectors,” stated Mike Champion, CEO of Tahaluf.

As the EIF-Tahaluf partnership kicks off, it promises to redefine Saudi Arabia’s event sector, ushering in a new era of innovation and growth.

Together, they stand poised to shape the future of the kingdom’s culture, tourism, entertainment, technology and sports sectors, making strides towards a more diversified economic landscape as envisioned by Vision 2030.

“Tahaluf has a clear and simple mission. To bring world-class events to Saudi Arabia and to help contribute to the kingdom becoming a global events hub,” concluded Champion.

Read: How LEAP is positioning Saudi Arabia as a technology hub