Brexit: Saudi investments in Britain face hard times

Economists expect hard times for Saudi investments in Britain in the light of the fact that the UK is set to pull out of the European Union. 
They say British pullout will negatively affect its economy in the short and medium terms.
The UK is considered one of the main countries for Saudi foreign investments in shares, special bonds, and both commercial and residential real estate that tops around SR684 billion. 
Economists say Saudi Arabia is the largest commercial partner for Britain in the Middle East and there are 200 joint projects between the two countries with investments of SR66 billion. They said it is difficult to predict how these will be affected once Britain pulls out. 
Economist and lecturer Mohammad Al-Qahtani said all countries of the world are concerned by a Britain pull out in the short and medium term, and said action must be taken to create stability in the financial markets. “The Saudi and Gulf economies are strong and beneficial to investors, and the effect will be limited,” he added.
But Mohammad Jafar said investors now need to act with maximum caution and not lessen the importance of a UK pullout because the impending situation is not what it is expected to be on the surface. 
Financial consultant Nasser Almir said a UK pullout is now a reality and the available options are limited. Saudi investments are expected to face hard days ahead, according to Al-Hayat.

Source: Arab News