Saudi Arabia is on the brink of a bold new era, where innovation meets ambition and opportunity knows no bounds. Across the kingdom, businesses are redefining industries, and technology is reshaping the way we live, work, and connect. From visionary entrepreneurs to cutting-edge startups, the story of Saudi’s transformation is one of relentless progress, daring ideas, and a future built to inspire. In this feature, we explore the forces driving this change and the people turning possibility into reality.
Building the future through vision and venture
When Sultan Ghaznawi speaks about entrepreneurship, it’s clear he sees it as more than business, it’s nation-building. As Chairman and Managing Director of Scene Holding, the Saudi venture builder and investment firm, his journey reflects the Kingdom’s own transformation: from asset-backed real estate growth to fintech, AI, and advanced defense technologies that position Saudi Arabia at the forefront of innovation.
“Scene Holding’s journey mirrors Saudi Arabia’s transformation,” he explains. “We began in real estate, learning discipline and timing. Later, we expanded into media and culture, contributing to the creative economy. About seven years ago, we pivoted to fintech and AI, building platforms that now serve millions.”
An Entrepreneurial Mindset
For Sultan Ghaznawi, entrepreneurship has always been about action. “Instead of waiting for perfect conditions, I acted,” he recalls of his early ventures. From launching a creative agency in his twenties to backing founders before they had traction, he embodied a mindset defined by three principles:
- Seeing opportunity before consensus – entering fintech and AI long before they became mainstream in Saudi Arabia.
- Resilience in execution – treating setbacks as pivots, not failures.
- Value creation beyond capital – actively helping founders scale.
That mindset remains at the heart of Scene Holding’s philosophy today.
Lessons From Setbacks and Mentors
Every investor has scars, and Ghaznawi sees his as lessons. “I see setbacks as tuition fees in the school of business,” he says, noting that earlier investments in biotech and non-core sectors taught him the importance of focus and strategic fit.
He credits Saudi family offices and international venture partners as mentors who helped him balance patience with speed. But he also points to tough investments as role models in themselves, the failures that sharpened his discipline.
Pioneering With Awaed
One of Ghaznawi’s most ambitious projects was Awaed, Saudi Arabia’s first retail fundraising platform. “It was pioneering work,” he says. Working closely with regulators, Scene helped set new standards for an emerging asset class, while also educating investors by simplifying complex products into accessible offerings.
Today, Awaed processes billions in trading value and is trusted by both retail and institutional investors. It also marked a milestone moment for Sultan Ghaznawi personally: ringing the Nasdaq bell in New York to celebrate a partnership that brought U.S. stock trading to Saudi Arabia.
Betting on the Future
Scene Holding’s portfolio reflects a sharp focus on where the Kingdom’s economy is headed. In fintech, the company backed BARQ, which scaled to over seven million users in its first year.
In AI, investments span debt collection to defense, with QUDRA Holding pioneering drones and AI-powered defense systems. In real estate, Scene is investing in operators that will support Saudi Arabia’s mega-events like the World Cup, Asian Games, and Expo 2030. Projects include Mabaat, a licensed short-term rental operator; Blue Limits, a leading hospitality group with luxury resorts such as Oia and Boho; and The Space | Vibes, one of the largest coworking platforms in the region, designed as a hub for international firms entering the Saudi market.
A Disciplined Framework
Leading multiple ventures requires focus, and Sultan Ghaznawi follows what he calls the 50-30-10-10 rule:
50% on fintech and AI
30% on strategic initiatives such as defense and real estate operators
10% on ecosystem building
10% on operations
“Flexibility comes from structure and empowering strong teams,” he notes.
Vision 2030 and the Role of Private Capital
For Sultan Ghaznawi, Saudi Arabia’s Vision 2030 is a guiding compass, and private investment plays a critical role. “The government sets the vision, but private investors bring agility, innovation, and risk-taking,” he explains. “Over the next decade, private capital aligned with national priorities will define Saudi’s competitiveness.”
Looking Ahead
When asked what excites him most about the next five years, Sultan Ghaznawi points to the convergence of AI and fintech. “That intersection is where Saudi can leapfrog,” he says. Platforms like BARQ are already layering AI into payments, lending, and eventually digital banking.
For young Saudi entrepreneurs, his advice is simple but sharp: focus. “Don’t chase every opportunity, pick one problem you can solve better than anyone else, and execute relentlessly. Capital follows clarity.”
Beyond Milestones
While milestones like Nasdaq remain memorable, Sultan Ghaznawi insists the real achievement is impact. “Whether it’s fintech giving millions access to tools, AI making services more efficient, or real estate operators preparing for global events, our companies are solving problems that make life genuinely better.”
That, he says, is Scene Holding’s proudest accomplishment: contributing to Saudi Arabia’s transformation while creating value for its people.
Planning a trip to Riyadh?
There’s always something happening across Saudi cities, and if you’re a fan of books, you’re in for a treat. Riyadh is getting ready to host its annual International Book Fair, a major cultural event filled with stories, ideas, and discovery. Here’s your guide to what’s ahead.
