2004 News Story

GOSI expands investment base

The General Organization for Social Insurance (GOSI), which administers the Kingdom's national insurance scheme, covering over 92,000 establishments, is expanding its investment, according to its governor Sulaiman bin Saad Al-Humaid. During a recent meeting with businessmen at the Eastern Province Chamber of Commerce and Industry (EPCCI), Al-Humaid reported that as part of a long-term plan, GOSI has invested SR19 billion [U.S. $ 5.07 billion] in 48 companies, mainly in the banking sector, but also including projects such as the SR2.3 billion [$0.61  billion] Gharnatah real estate venture in Riyadh, now 80 percent complete.