SHUAA Capital, Gate Capital to launch Saudi fuel retail platform

Logo of Shuaa Capital

SHUAA Capital said its wholly owned unit, SHUAA Capital Saudi Arabia, has signed a memorandum of understanding with Gate Capital to launch an alternative investment fund aimed at consolidating the fuel retail sector in Saudi Arabia.

The Dubai-listed firm said the partnership seeks to build a leading national platform by acquiring and integrating fuel station operators, with plans to develop a network of more than 500 service stations across the Kingdom.

The platform will pursue an acquisition-led strategy, beginning with the purchase of an established fuel retailer, followed by further acquisitions and integration to create a large-scale national operator with broad market presence.

It will be managed by specialized teams focusing on delivering a high-quality, integrated customer experience aligned with Saudi Vision 2030, while generating attractive returns for shareholders.

SHUAA said the fund comes as Saudi Arabia’s fuel retail sector, which includes more than 10,000 stations, undergoes transformation driven by regulatory changes that have improved operational standards, safety, and service quality, creating growth opportunities.