Riyadh Postpones FII Forum to 2027 After Houthi Attacks

Organizers of the Future Investment Initiative (FII) investment forum announced late on Monday, October 19, that the tenth edition of the gathering in Riyadh, scheduled for October 26 to 29, is being moved to 2027. The decision was made public a week before the opening, and it follows a series of Houthi missile and drone attacks on Saudi Arabia from Yemen, including strikes on King Khalid International Airport in Riyadh.

The news was posted on X by the FII Institute’s chief executive, Princess Maha bint Mishari al Saud. New dates will be announced later, and all existing registrations and partnerships remain valid.

What did the institute say, and what did it leave out?

Princess Maha explained the decision as an obligation to participants: “This decision stems from a deep commitment to our partners, members, speakers and delegates.” She went on to say:

“As this is our landmark tenth edition, we want to make sure it delivers the full scale, exceptional quality and unforgettable impact that our community expects and truly deserves.”

She added: “A decade of partnership and shared vision deserves nothing less than our absolute best.” Addressing the community around the forum, she said: “We are deeply grateful to our community for the continued trust, patience and friendship.” She closed with the message: “We can’t wait to welcome you home in Riyadh in 2027 for a truly special and unforgettable FII10.”

Security is not mentioned as a reason in the institute’s statement, as Gulf News pointed out. The link to the attacks is drawn by the media, and The National reports that one participant, whose company had stayed ready to attend despite the strikes on the airport, described his mood as “calm and sober”.

What is happening on the ground?

According to the Xinhua news agency, the Houthis claimed responsibility on Monday for six attacks in the previous 48 hours on oil, aviation and military targets. Military spokesman Yahya Saree said the targets were Aramco facilities in Yanbu on the Red Sea and the Shaybah oil field, then the airports in Riyadh and Abha, King Khalid Air Base near Khamis Mushait, radar installations and a camp of a Saudi naval group. He says the attacks are a response to more than 200 Saudi air and missile strikes on Sanaa and other areas under Houthi control. Saudi Arabia and the coalition it leads did not immediately comment on these claims.

Reports on the consequences of the attack on the Riyadh airport differ. Gulf News writes that civilians were killed and hundreds of people were injured, while other reports speak of several dead and a large number of injured. Operations at the airport are being restored gradually, but many airlines are still avoiding the Saudi capital. We described the effect of the attacks on oil prices earlier, when Brent reached $111.75 after the Houthi attacks, the highest since May.

Which other events have been moved?

On the same day, the Intersec Saudi Arabia security equipment fair was postponed from November 16 to 18 to October 2027, and the Saudi Retail Forum from November 19 to March 2027. The fair’s organizer, Messe Frankfurt Saudi Arabia, said the decision “follows careful monitoring of recent developments in Saudi Arabia and was made in coordination with the venue, local government partners and local and international participants of the event”.

Earlier, the summit of the European Union and the Gulf Cooperation Council, the Misk youth forum, the Red Sea Film Festival and several sporting events were moved.

Why does FII carry weight?

The forum, often called “Davos in the desert”, has existed since 2017 and is the main platform of Crown Prince Mohammed bin Salman for promoting Vision 2030, the program through which the kingdom seeks to reduce its dependence on oil and attract foreign capital. Last year’s edition drew more than 8,000 participants, and this year BlackRock chief executive Larry Fink and JPMorgan Chase chief executive Jamie Dimon were among those expected.