Saudi and UAE Push MENA M&A Activity Up 7% to $92.3B
Momentum in Saudi M&A Activities accelerated in 2024, with the Kingdom securing 202 approvals—its highest on record—amid a broader surge in regional mergers and acquisitions. Across MENA, total deal value climbed to $92.3 billion, reflecting a 7% increase from the previous year. Deal flow gained traction, with 701 transactions, signaling increasing confidence among investors navigating policy-driven market shifts.
The UAE and Saudi Arabia spearheaded the region’s deal-making push, together driving 318 transactions worth $29.6 billion. Their dominance reflects a broader movement toward economic diversification, accelerated by reforms that encourage capital inflows and strategic partnerships.
Saudi and UAE Cement Lead With Landmark Transactions
The GCC’s grip on regional M&A remained firm, securing 580 deals, equivalent to 52% of total transactions and 74% of overall deal value. Saudi Arabia’s energy sector made waves, with Saudi Aramco’s $8.9 billion stake acquisition in Rabigh Refining and Petrochemical Co. marking one of the largest transactions of the year.
The UAE followed suit, locking in Truist Insurance’s $12.4 billion takeover by Clayton Dubilier & Rice, Stone Point Capital, and Mubadala Investment—the single biggest deal in 2024. This trend of high-value acquisitions signals a growing appetite for cross-border expansion and consolidation.
Outbound Deals Make Up 61% of M&A Transaction Value
Cross-border M&A fueled Saudi M&A activities, with outbound transactions accounting for 61% of total value, amounting to $56.6 billion across 199 deals. International players leaned into Saudi Arabia’s evolving regulatory landscape, capitalizing on structural policy shifts designed to attract foreign investment.
The U.S. emerged as the region’s top foreign acquirer, driving 48 deals worth $4.6 billion. Sectoral preferences pointed to insurance, asset management, real estate, hospitality, power and utilities, and technology, as investors placed long-term bets on scalable growth opportunities.
Saudi Arabia Clears Record 202 M&A Requests in 2024
Regulatory approvals hit new highs as Saudi Arabia’s General Authority for Competition (GAC) greenlit 202 economic concentration requests, the highest on record, reflecting a 17.4% year-on-year surge. An additional 10 applications remain under review, underscoring the Kingdom’s commitment to streamlining investment channels.
The surge aligns with Saudi Arabia’s push to curb monopolistic practices, refine competition policies, and deepen investor confidence. With Vision 2030 as a driving force, businesses are actively reshaping their portfolios, leveraging M&A as a vehicle for expansion and sectoral transformation.
Technology and Manufacturing Fuel Saudi Arabia’s M&A Momentum
Saudi Arabia’s M&A landscape is evolving, with technology and consumer products seeing a 10% year-on-year rise in deal volume, collectively contributing 35% of the Kingdom’s total transactions.
Manufacturing emerged as the dominant sector, securing 67 approvals, followed by information and communications (39 requests) and wholesale and retail trade (22 requests). Strong foreign participation—28% of all concentration requests—reflects growing confidence in Saudi Arabia’s industrial and technological potential.
Saudi Arabia Poised to Lead Regional Investment Amid Global Slowdown
While global M&A activities dipped—dropping 8.7% year-on-year—Saudi Arabia’s deal-making pace remained resilient. The Kingdom’s pro-business policies continue to attract foreign capital, create diversification pathways, and reinforce its standing as a regional economic hub.
With record-breaking M&A approvals and cross-border transactions, Saudi Arabia is positioning itself as a powerhouse for investment, where Vision 2030-driven expansion meets sustained deal momentum.
Also Read: Market Consolidation Soars: 17.4% Rise in Saudi M&A Growth
