Dubai – Mubasher: Shuaa Capital Saudi Arabia, a fully owned subsidiary of Shuaa Capital, has signed a memorandum of understanding (MoU) with Gate Capital Financial Services to co-launch the first Saudi fuel retail investment fund.
The strategic partnership intends to develop a leading national fuel retail operator with a network of more than 500 service stations nationwide, according to a press release.
The Saudi fuel retail sector, comprising over 10,000 stations, is undergoing a period of dynamic transformation.
As part of the shift, the Ministry of Energy is raising operational, safety, and service standards across the industry, creating a strong foundation for long-term growth and enhanced consumer experiences.
Shuaa Capital and Gate Capital will join forces to capitalize on this momentum through a disciplined “buy-and-build” strategy.
The joint platform will start with the acquisition of an established and qualified fuel retail operator in Saudi Arabia, and then it will integrate more operators to create a large-scale, nationally recognized player.
In line with Vision 2030, the platform will be managed by specialized teams and designed to deliver a high-quality customer experience, diversify the economy, and generate strong returns for investors.
Nabil Al Rantisi, Group CEO of Shuaa Capital, commented: “With the continued growth in domestic tourism, landmark national events, and significant infrastructure investments under Vision 2030, we see a clear opportunity to build a market-leading platform that delivers both scale and service excellence while delivering strong shareholder returns.”
Munther Hilal, CEO of Gate Capital, said: “This partnership reflects our shared conviction in the structural evolution of Saudi Arabia’s fuel retail sector. Gate Capital’s longstanding deep regional expertise and strong market reach in Saudi Arabia, combined with Shuaa Capital’s investment capabilities, creates a powerful platform to drive consolidation and innovation.”
In 2025, Shuaa Capital generated net profits attributable to the owners valued at AED 156.48 million.
