The Saudi government-owned Istedamah Holding was set up in late 2017, seven weeks after hundreds of senior figures were arrested in an anti-corruption sweep in early November and held at the Ritz-Carlton hotel Riyadh.
Istedamah is now emerging as an important institution in Riyadh’s reshaping of the kingdom’s business environment. The full extent of its portfolio is still unclear
but more details are emerging.
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