The Norwegian fund invested about $ 987 million in the UAE and Saudi markets by the end of last year.


According to Arabnet, the Norwegian sovereign fund invested about $ 194 million, 729 million riyals in 24 Saudi companies by the end of last year 2020, according to data from the fund, which owns stakes in 9200 companies and owns 1.5% of the global market capital.


The National Commercial Bank and Samba, the largest Saudi companies or banks, in which the Norwegian sovereign fund invests by the end of 2020 in terms of market value, issued 120 million riyals 0.09% from Al-Ahly and 71.8 million riyals 0.12% from Samba, respectively.


They were followed by Al-Rajhi Bank and Bank Al-Jazira with a value of 62.2 million riyals, 0.03% of the bank, and 56.1 million riyals, 0.5% of the bank, respectively.


Behind them came the Seera company, with a value of 50.6 million riyals, 0.89% of the company, and Leejam (Fitness Time), 50.5 million riyals, 1.25% of the company.


According to the largest shares, Malath Company topped with 1.9% ownership, then Leejam Company with 1.23% ownership, then Walaa Company with 1.23% ownership, and Al Hammadi Company with 1.04% ownership, according to Al-Eqtisadiah.


UAE stocks


Investments of the Norwegian Sovereign Fund have arrived; The largest sovereign funds in the world to 2.91 billion dirhams ($ 793 million) by the end of last year, despite the repercussions of the pandemic, and Emirates NBD came in the forefront of shares with a value of 488.37 million dirhams with 0.7% ownership, Abu Dhabi first with 470.4 million dirhams, then Emaar Malls 315.3 million Dirhams and Aldar Properties 287.1 million dirhams, and ADNOC Distribution 261.27 million dirhams.


Then came Emaar Properties, with 251.8 million dirhams, followed by Aramex 218.94 million dirhams, then Tabreed 128.67 million dirhams 1.79%, followed by Dubai Islamic of 115.3 million dirhams.


It is followed by Etisalat 84.7 million dirhams, Food 63.4 million dirhams, Abu Dhabi Commercial 58.7 million dirhams, ICDC 48.1 million dirhams and Air Arabia 38.9 million dirhams.


This was followed by Ras Al Khaimah National 35.1 million dirhams, Abu Dhabi Islamic 19 million dirhams, Emaar Development 11.8 million dirhams, Yalla Group 10.52 million dirhams and Diba 3.3 million dirhams, according to Al-Bayan newspaper.


The fund said that it achieved a return on investment of 10.9% in 2020, or the equivalent of 1.07 trillion Norwegian kroner ($ 122.7 billion).


The governor of Norway's $ 1.3 billion central bank, Oystein Olsen, said in a statement that although the pandemic had made its mark on 2020, it was another good year for the fund. A unit of the central bank manages the fund.


"But the high return also reminds us that the market value of the fund may vary greatly in the future," Olsen added