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This study investigates the link between the economic diversification policies and regional investment strategies of Saudi Arabia and the United Arab Emirates, focusing on these countries’ investment trends in Egypt as a case study. It explores how these investments serve as instruments of economic statecraft for Saudi and Emirati leaders, designed to bolster diversification objectives and address political, economic, and environmental risks. The findings uncover a notable increase in Saudi and Emirati investment in Egypt since the early 2000s. These investments not only prioritize sectors highlighted in their diversification blueprints, such as real estate, finance, and tourism but also extend into agricultural and renewable energy sectors, offering avenues to mitigate climate and environmental challenges. Ultimately, the study concludes that while these regional investments may support domestic diversification endeavors and promote economic integration within the region, they are also underpinned by the geo-economic agendas of Saudi and Emirati leaders, aiming to hedge against political and economic uncertainties.