Liverpool star Mohamed Salah tops the SPL's shopping list this year.
Al Lazeez told the Financial Times' Business of Football Summit: "This is a long-term investment. We are not in it for a season.
Advertisement
Advertisement
"We are pleased with what has been achieved so far. In fact, I think we are a bit ahead of schedule."
He also underlined Saudi Arabia's entry into football is part of "a broader strategy to diversify the economy".
On former Liverpool captain Jordan Henderson leaving Al-Ettifaq for Ajax last month, Al Lazeez added: "You don't expect all of them to stay.
"He's a great guy. It did just not work out. That's life." He added Henderson would remain "one of the best signings that we made for the Saudi Pro League."