Saudi Arabia postpones FII 'Davos in the Desert' to 2027 after Houthi attacks
The 10th Future Investment Initiative, due in Riyadh on October 26–29, has been pushed into next year. Other conferences and an EU–Gulf summit have also been delayed as Houthi missiles and drones target the kingdom.
At a glance
- Saudi Arabia has postponed the 10th Future Investment Initiative (FII), planned for October 26–29, 2026, in Riyadh, to 2027; new dates will be announced 'very soon'.
- The move follows a surge in Houthi missile and drone attacks, including strikes on Riyadh's King Khalid International Airport that killed 13 people.
- Intersec Saudi Arabia moves to October 2027, the Saudi Retail Forum to March 2027, and an EU–Gulf summit has been postponed.
- The Houthis say they carried out six attacks on Saudi oil, aviation and military targets in 48 hours, in response to what they call more than 200 Saudi strikes on Yemen.
Saudi Arabia has postponed its flagship investment conference. The 10th Future Investment Initiative (FII) — known as "Davos in the Desert" and scheduled for October 26–29, 2026, in Riyadh — will now be held in 2027, organisers said, after a wave of Houthi missile and drone attacks on the kingdom.
What has been postponed
| Event | Was due | Now |
|---|---|---|
| Future Investment Initiative (10th edition), Riyadh | October 26–29, 2026 | 2027 — dates "very soon" |
| Intersec Saudi Arabia (security trade show) | November 16–18, 2026 | October 2027 |
| Saudi Retail Forum | November 19, 2026 | March 2027 |
| EU–Gulf summit in Riyadh | Planned | Postponed |
| Saudi Pro League matches, Six Kings Slam tennis | October 2026 | Moved to December or later |
What organisers said
FII Institute chief executive Princess Dr Maha bint Mishari Al Saud called the 10th edition a "landmark" event and said new dates would be announced very soon. The institute said the delay would make sure the milestone edition meets its standards for scale, quality and impact. It did not mention security directly, but the decision came days after deadly strikes on the capital.
Heads of the world's biggest financial firms — including BlackRock's Larry Fink and JPMorgan Chase's Jamie Dimon — had been expected to attend.
The attacks behind it
Yemen's Houthis have sharply escalated attacks on Saudi Arabia in recent weeks:
- strikes on King Khalid International Airport in Riyadh killed 13 people and shut the airport for days;
- the group claims attacks on Saudi Aramco's Yanbu facility, the Shaybah oilfield and Abha airport, which Saudi Arabia has not confirmed;
- a projectile hit a residential area in Najran on Sunday, injuring six people;
- the Houthis now say they carried out six attacks on Saudi oil, aviation and military targets in 48 hours, in response to what they describe as more than 200 Saudi strikes on Yemen. Saudi Arabia did not comment immediately.
Inside Yemen, a Houthi missile strike on Monday killed at least 53 government recruits in Shabwa province.
Background: what FII means for Saudi Arabia
FII was launched in 2017 as a showcase for Crown Prince Mohammed bin Salman's Vision 2030 plan to diversify the economy away from oil and attract foreign investment. Each October it brings thousands of investors, bankers and government leaders to Riyadh, and deals worth billions of dollars are typically announced on the sidelines.
Why it matters
- For Saudi Arabia: postponing its showcase event is a setback to its image as a safe, stable destination for business, tourism and global events — including the 2034 FIFA World Cup.
- For investors: security concerns may slow some deals and projects linked to Vision 2030.
- For Pakistan: Saudi Arabia is one of Pakistan's biggest financial backers and home to millions of Pakistani workers. Pakistan's military says it is providing Saudi Arabia with military support under the new Makkah defence pact with Türkiye.
- For oil markets: attacks near Saudi energy sites, together with disruption in the Strait of Hormuz, are keeping Brent crude near $110 a barrel.
What happens next
New FII dates are expected soon. Whether more events are postponed will depend on whether the Houthi attacks continue — and on diplomatic efforts to stop the wider regional conflict from spreading.
Questions people are asking
What is the FII conference?
The Future Investment Initiative, often called 'Davos in the Desert', is Saudi Arabia's flagship investment conference in Riyadh. Launched in 2017, it showcases Crown Prince Mohammed bin Salman's Vision 2030 plan and draws top global bankers, investors and CEOs.
When will FII 2026 now take place?
It has been postponed to 2027. FII Institute chief executive Princess Maha bint Mishari Al Saud said new dates will be announced very soon.
Why did Saudi Arabia postpone FII?
The postponement followed a sharp rise in Houthi missile and drone attacks on the kingdom, including strikes on Riyadh's main airport, which disrupted air travel and raised security concerns among international executives.
