Tony Hallside, CEO of STP Partners, emphasized the potential for private credit in the GCC, particularly in addressing real financing gaps for small and medium-sized enterprises. He noted that growth should prioritize quality over speed, ensuring that private credit complements the traditional banking system. Hallside highlighted the importance of maintaining strong assessment and underwriting standards for sustainable expansion in this young market.
“Private credit can make a useful contribution where it addresses genuine financing gaps, particularly among SMEs and mid-sized businesses, or provides borrowers with structures that banks are less suited to offer.”
— Tony Hallside, CEO of STP Partners
Riyadh has made a remarkable leap into the top 50 of the Oxford Economics Global Cities Index, reaching 50th place due to its strong human capital and economic growth. Tony Hallside, CEO of STP Partners, highlighted the significance of this transformation, noting the diverse areas of development that have led to new opportunities in the city. As Riyadh continues to evolve, it is increasingly recognized as a key regional business hub.
“What is particularly significant is the breadth of that growth, spanning infrastructure, tourism, technology and new industries, and the opportunities this is creating for businesses, investors and talent.”
— Tony Hallside, CEO of STP Partners
STP Partners' CEO, Tony Hallside, highlighted the rising outbound greenfield investment from Saudi Arabia as a significant indicator of the Kingdom's evolving economic landscape. This shift demonstrates that Saudi companies are transitioning from being mere capital importers to confident exporters of expertise and business ventures, particularly in renewable energy. The trend signals positive momentum towards achieving the goals outlined in Vision 2030.
“The Kingdom is increasingly producing companies with the capital, expertise and ambition to build businesses and infrastructure overseas, particularly in renewable energy.”
— Tony Hallside, CEO of STP Partners
Tony Hallside, CEO of STP Partners, emphasized that the record profits in the Gulf Cooperation Council (GCC) not only reflect higher oil prices but also the resilience and growth of various sectors. He pointed out that corporate activity continues to thrive despite geopolitical challenges. Hallside believes that this diverse growth is essential for investors to consider beyond just the headline profit figures.
“For investors, that breadth is arguably more important than the record number itself.”
— Tony Hallside, CEO of STP Partners
Tony Hallside, CEO of STP Partners, highlighted the unique situation where both gold and Bitcoin have risen simultaneously, indicating investor anxiety about currency values. He emphasized that while both assets are sought after during economic uncertainty, they serve different roles in a portfolio. Hallside cautioned against equating Bitcoin with gold due to their differing histories and stability.
“Investors were using different assets to express their concern about purchasing power of money and sustainability of government finances.”
— Tony Hallside, CEO of STP Partners
