Saudi Arabia on Monday postponed its big annual investor conference until 2027 as Iran-backed Houthi militants have escalated missile and drone attacks on the kingdom in recent weeks.
The Future Investment Initiative was originally scheduled to take place in the Saudi capital Riyadh from Oct. 26 to Oct. 29. “We will announce the new 2027 dates very soon,” the conference organizers said in a statement.
The decision to postpone the conference comes after the Houthis attacked King Khalid International Airport in Riyadh on Oct. 10, leaving at least 12 people dead and more than 300 injured.
Some of the biggest names in business and finance were listed as speakers for the conference. They included JPMorgan Chase’s Jamie Dimon, Goldman Sachs’ David Solomon, Blackstone’s Stephen Schwarzman, BlackRock’s Larry Fink and Citigroup’s Jane Fraser.
CNBC was told some participants and speakers had planned to travel to Saudi Arabia by flying first to Bahrain and then driving five hours to Riyadh.
This screen grab taken from CCTV footage played on a screen during a press conference by the Saudi-led coalition in Riyadh on October 15, 2026, and made available via AFPTV, shows what the coalition says was a Houthi attack on Abha International Airport on October 7, 2026.
– | Afp | Getty Images
Saudi Arabia’s sovereign wealth fund launched the Future Investment Initiative in 2017. The conference has played a key part in Riyadh’s plans to diversify its oil-dependent economy. Crown Prince Mohammed bin Salman unveiled the ambitious megaproject NEOM at the first conference in 2017.
The decision to postpone the conference underscores the deteriorating security situation in the Middle East as the U.S-Iran war spreads across the region. Houthi militants have launched repeated waves of missile and drone strikes at Saudi Arabia since the deadly airport attack earlier this month.
The Saudi military intercepted and destroyed several drones launched at the Riyadh region on Friday and Saturday, a spokesperson from the kingdom’s armed forces said.
Missiles launched over the Red Sea were also intercepted on Friday including one heading toward the port city and oil terminal Yanbu, the spokesperson said.
