Since 2023, Mubadala’s investments jumped 67% while PIF’s dropped 37%
Public Investment Fund
Latest in Public Investment Fund
entertainment destinations
Saudi Arabia’s SEVEN announces new $346mn entertainment destination
Set to be located in Jazan, the flagship destination will span over 60,000 square metres with entertainment and recreational facilities
PIF
Saudi Arabia’s PIF sells 2% stake in stc for over $1bn
PIF maintains ownership of 3.1 billion shares, equivalent to 62 percent of stc’s issued share capital, following the transaction
Public Investment Fund
ANALYSIS: Inside Saudi Arabia’s sprint to hit SAR1.2tn non-oil GDP by 2025
Saudi Arabia’s ambitious target of SAR1.2tn in non-oil GDP by next year is testing both its resolve and resources
PIF
PIF-backed Roshn in talks with banks to raise $667mn in early 2025: Report
In the shorter term, the Saudi developer expects to raise SAR 18 billion in total from local banks by the end of 2024
Abu Dhabi
New UAE laws; Petrol price increase; Dubai’s ‘viral chocolate’; Visa amnesty extended; Tax rules updated – 10 things you missed this week
UAE visa amnesty, new laws announced, petrol prices increased, Dubai real estate strategy and more of the top news stories this week
Future Investment Initiative
Saudi Arabia’s PIF pivots to domestic focus, eyes AI revolution, says Al-Rumayyan
The fund is reportedly in early discussions about a potential AI partnership worth up to $40 billion with venture capital giant Andreessen Horowitz
golf tournament
LIV Golf to offer one season-long card through Promotions event in Riyadh
The winner of the tournament gets into the 54-man roster of the PIF-backed League in 2025; Top-10 get exemption to International Series
PIF
Saudi Arabia’s PIF forms new property developer to construct staff accommodation complexes
PIF creates new developer to build and operate staff accommodation for major real estate project construction projects in Saudi Arabia
Crown Prince Mohammed bin Salman
Saudi Crown Prince promises $5bn investment in Egypt through PIF
The pledge comes after crown prince meets Egyptian Prime Minister in Riyadh; Details of the investment not known as yet
Folk Maritime
Saudi Arabia’s Folk Maritime launches new liner service connecting Jeddah to major Indian ports
The new route represents the growth in ‘friend-sourcing’ between Saudi Arabia and India and builds on the strong bilateral ties between the two countries
economic diversification
Saudi Vision 2030: PIF creates over 730,000 new jobs
PIF-backed projects like Riyadh Air and Qiddiya City are set to boost non-oil GDP and create over 525,000 jobs and drive non-oil economic growth
PIF
Saudi’s PIF, Vision Industries ink major renewables deal with Envision Energy
This collaboration aligns with Saudi Arabia’s ambitious goal of localising 75 percent of renewable energy components by 2030
financial sustainability
Saudi Arabia’s PIF improves to second in Global SWF’s GSR ranking
The Saudi sovereign fund improves its Governance, Sustainability and Resilience score from 92% to 96%
Airports
Saudi Arabia and Ardian strike deals to buy 38% stake in Heathrow Airport
Saudi wealth fund to take a 15 per cent share in London’s Heathrow Airport
Asset Management
Saudi Arabia’s PIF ranks as world’s most valuable sovereign wealth fund
With a brand value of $1.1 billion, PIF topped the sovereign wealth fund category, driven by its strong investment strategy, brand awareness, perceived trustworthiness, and role as a catalyst for economic advancement in Saudi Arabia
PIF
PIF signs agreement to become women’s tennis ranking’s naming partner
This follows the recent announcement that the season-ending WTA Finals will be hosted in Riyadh for the next three years