Riyadh, Saudi Arabia -- ROSHN Group, the PIF-owned giga-project and real estate developer, has signed a memorandum of understanding (MoU) with the Saudi Federation for Cybersecurity, Programming and Drones during LEAP, the Riyadh-based annual technology event, that aims to further national capabilities in the areas of cybersecurity, programming, and drone...

Riyadh, Saudi Arabia -- The Public Investment Fund (PIF) and Mumtalakat Holding Company, the sovereign wealth fund of the Kingdom of Bahrain, Tuesday signed a memorandum of understanding (MoU) to expand cooperation and enable investment opportunities in Bahrain, PIF said. PIF said in a statement that the MoU provides multiple...

In a joint statement, the two bodies said the partnership marked "a significant shared commitment to enhancing global tennis". The statement did not give details of the amount of the investment which will see PIF become the official naming partner of the ATP rankings.

Riyadh, Saudi Arabia -- The Public Investment Fund (PIF) intends to acquire a stake in Saudi Binladin Group (SBG), Bloomberg reported, citing sources with knowledge of the matter.  The fund is working with Morgan Stanley on the potential deal to buy into SBG, Argaam reported, citing reports.  The PIF is...

Riyadh, Saudi Arabia - Governor of Saudi Public Investment Fund (PIF) Governor Yasir Al-Rumayyan on Thursday positioned Saudi Arabia as a potential global hub for AI and related industries, citing its competitive advantages, leadership in clean energy resources, political commitment, robust funding capabilities, and developing human talent. Delivering a speech...

Riyadh, Saudi Arabia - Alat Company, a subsidiary of the Saudi Public Investment Fund (PIF), has announced four global partnerships aimed at advancing its plans for sustainable manufacturing. Amit Midha, global CEO of Alat, revealed on Tuesday collaborations with Softbank, Carrier Corporation, Tahakoum, and Dahua Technology, Saudi Gazette reported. The...

Zamil is one of the largest offshore support vessel operators.

SSG includes a number of high-powered sports owners including the Fenway Sports Group, owners of English Premier League club Liverpool, MLB's Boston Red Sox and the NHL's Pittsburgh Penguins. The deal would see players collectively access more than $1.5 billion in grants that vest over time with SSG investing an initial...

Riyadh, Saudi Arabia — Saudi Crown Prince Mohammed bin Salman on Thursday launched a new company called Alat geared to make Saudi Arabia a global hub for electronics and advanced industries. The new company aims to create 39,000 direct jobs and achieve a direct non-oil GDP contribution of $9.3 billion...

From sports and gaming to pharmaceuticals and aviation, the Saudi Public Investment Fund's strategic initiatives are shaping a dynamic future for the the Kingdom's economy.

Riyadh, Saudi Arabia - Public Investment Fund (PIF) Governor Yasir Al-Rumayyan on Wednesday said that the Kingdom’s mineral wealth currently stands at $1.3 trillion, with a target to increase it to $1.5 trillion.Speaking at the third annual Future Minerals Forum (FMF) held in Riyadh on January 10-11, Al-Rumayyan said the...

The sovereign wealth fund acquired 23% stake in the firm.

The agreement was extended by an additional $1.54 billion.

The MoU will expand SDH Wings' portfolio of aircraft.

It will be used to test a range of EV chargers and software.

Riyadh, Saudi Arabia -- Crown Prince Mohammad bin Salman, Prime Minister and Chairman of the board of directors of the Qiddiya Investment Co. (QIC) launched the urban design for the city of Qiddiya and Qiddiya’s brand, Saudi Press Agency reported. Qiddiya city will become, in the near future, the foremost...

Riyadh, Saudi Arabia -- The Public Investment Fund (PIF) and Korea Trade Insurance Corporation (K-SURE) have announced the signing of a financing agreement through which PIF has raised a term loan from a syndicate of nine top international lenders that will be covered by K-SURE. The financing carries a door-to-door...

Riyadh, Saudi Arabia -- Saudi Entertainment Ventures (SEVEN), a PIF subsidiary, has announced the fifth entertainment destination in the Kingdom, in Aseer region, that will be developed with an investment of SAR 1.3 billion ($347 million). The destination is strategically located between the cities of Abha and Khamis Mushait, near...

Riyadh, Saudi Arabia -- Ibrahim Sarhan, the Chairman and Managing Director of e-Finance for Digital & Financial Investments based in Egypt, has disclosed that Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), has submitted an application to the Egyptian Financial Regulatory Authority (FRA) seeking to boost its ownership...

Riyadh, Saudi Arabia - Global credit agency Fitch Ratings has reaffirmed Saudi Arabia’s Public Investment Fund's (PIF) long-term foreign- and local-currency issuer default ratings at "A+" with a stable outlook. In its assessment, Fitch highlighted the PIF’s robust financial autonomy and its critical role in bolstering Saudi Arabia’s non-oil gross...

Riyadh, Saudi Arabia — The Public Investment Fund (PIF) has formally announced the signing of a share subscription agreement to infuse capital into Alkhorayef Petroleum, a subsidiary of Alkhorayef Group. Through this agreement, PIF secures a 25 percent shareholding in the oil and gas production optimization solutions provider, with Alkhorayef...

Riyadh, Saudi Arabia - Saudi Arabia has revealed plans for a remarkable megacity project named Marafy, following in the footsteps of its visionary project, Neom. Marafy is set to become a vibrant urban center located to the north of Jeddah, offering a stunning waterfront reminiscent of London's iconic landscape. This...

The company had posted a net profit of $4.32bn in 9M 2022.

Six Senses AlUla will open in Saudi Arabia in 2027.

The profit growth was driven by 27% revenue increase.

Riyadh, Saudi Arabia -- The Public Investment Fund will soon announce complementary projects for the automobile industry, mainly batteries, said Muhammad AlShiha, Head of Automotive and Mobility Sector at PIF. The fund has entered into the second phase of the automobile industry, AlShiha told Asharq News, explaining that the current...

Riyadh, Saudi Arabia--The Public Investment Fund (PIF) and Hyundai Motor Company (Hyundai) have signed a joint-venture agreement to establish an automated vehicle manufacturing plant in Saudi Arabia. PIF will hold a 70% stake in the new joint venture with Hyundai holding the remaining 30%. Hyundai will also act as a...

Riyadh, Saudi Arabia -- Saudi Arabia's Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud Monday announced the launch of Ardara, which will develop AlWadi in Aseer Region in the southwest of the kingdom. This will be Ardara’s first development and will become a vibrant urban center and tourist destination...

They will create a joint company to upgrade organic waste recycling.

The kingdom's finance ministry estimated expenditures for 2024 to be at US$333.5 billion. According to the ministry, the projection is based on the government's fiscal objectives to expand strategic spending at the sectoral and regional levels, broaden and diversify the economic base, as well as improve public services, among others.

TRENDS digs into Saudi Arabia's booming real estate sector and ambitious projects to find how they offers investors lucrative, long-term, and sustainable growth opportunities.

The MENA region's gaming revenue is set to hit $7.2bn in 2023, representing 17% of global gamers, while Saudi Arabia's market may hit $1bn mark this year and triple by 2030.

Jeddah, Saudi Arabia -- Cruise Saudi, a wholly owned subsidiary of the Public Investment Fund that specializes in developing the cruise sector in the Kingdom, has announced cooperation with top-notch companies in the sector, MJM Marine and DE Wave, for the new premium owned cruise line AROYA Cruise.This cooperation aims...

The book-building process starts Sunday and run through Sept. 14.

The MENA region's gaming revenue is set to hit $7.2bn in 2023, representing 17% of global gamers, while Saudi Arabia's market may hit $1bn mark this year and triple by 2030.

The $3.6bn deal will see AviLease acquire a portfolio of 100 aircraft.

PIF-owned SAMI will be partnering with the Ministry of Defense.

Riyadh, Saudi Arabia -- ADES International Holding, an oil and gas driller backed by Saudi Arabia’s sovereign wealth fund, PIF, has announced its intention to go public and list its shares on Saudi stock exchange (Tadawul), with the planned Initial Public Offering expected to reportedly fetch more than $1 billion....

Riyadh, Saudi Arabia -- A consortium of ACWA Power and subsidiaries of Saudi sovereign wealth fund, Public Investment Fund, and energy giant Aramco, have announced financial close of Al Shuaibah 1 and Al Shuaibah 2 solar PV projects in Makkah. The projects will generate an aggregate capacity of over 2.6GW...

Saudi Arabia's football clubs continue to win over global stars with Serbian forward Aleksandar Mitrovic becoming the latest player to join Al Hilal. The club is reported to have negotiated a $64 million deal for the 28-year-old. The Premier League club confirmed the Serbian's departure following Saturday's 3-0 Premier home...

Riyadh, Saudi Arabia--Neymar was greeted with much fanfare Friday as he arrived in Saudi Arabia where he joins a growing list of big names lured to the oil-rich kingdom. The 31-year-old Brazil forward who will be unveiled as an Al-Hilal player on Saturday after six seasons with French champions Paris Saint-Germain...

From Cristiano Ronaldo to Neymar, the kingdom is offering eye-watering salaries to international football stars to bring them over from clubs across Europe.

Riyadh, Saudi Arabia -- The Saudi Tourism Investment Company (ASFAR), a Public Investment Fund (PIF) portfolio company, has announced a sponsorship agreement with Al-Hilal Saudi Club, one of Saudi Arabia's premier football clubs.  The sponsorship deal will run for three seasons.  Under the terms of the agreement, ASFAR will serve...

Riyadh, Saudi Arabia -- Saudi Arabia's sovereign wealth fund, the Public Investment Fund, Monday announced the establishment of the Kayanee Company, a unique lifestyle integrated concept designed to inspire and enhance women’s well-being in Saudi Arabia. Kayanee will focus on women’s health and lifestyle of future generations through six offerings,...

Dubai, UAE -- Nesma & Partners, a contracting company funded by Saudi sovereign wealth fund, the Public Invesment Fund, has signed an agreement to acquire Kent, a global energy services provider. The acquisition is expected to close by the end of the calendar year, subject to regulatory approvals and satisfaction...

Riyadh, Saudi Arabia – Saudi Entertainment Ventures (SEVEN), a wholly owned subsidiary of the Kingdom's sovereign wealth fund, the Public Investment Fund (PIF), has announced the start of construction on its new entertainment destination in Almadinah. The $346-million project, which is expected to be completed in 2025, is being developed...

Riyadh, Saudi Arabia - The Public Investment Fund (PIF) announced on Thursday that it has signed a Memorandum of Understanding (MoU) with the Oman Investment Authority (OIA) to expand cooperation and investment between the two entities, enabling new investments in Oman’s rapidly growing economy. The MoU provides incentives for PIF...

Riyadh, Saudi Arabia -- Saudi Arabia's sovereign wealth fund, the Public Investment Fund, announced Sunday it has established Al Madinah Heritage Company to improve the quality and production capacity of Ajwa dates in the Madinah region. The launch of the Company will help further develop the Saudi Food and Agriculture...

Fueling this ambition is an intricate web of travel companies, including tour operators, airlines, accommodation providers, cruise lines, and destination management companies. These firms are crucial cogs in the grand tourism machine, each contributing in unique ways towards marketing Saudi tourism and wooing tourists.

Abu Dhabi Investment Authority ($853 billion) and Kuwait Investment Authority ($803 billion) ranked fourth and fifth respectively, while Saudi Arabia's PIF was sixth in terms of assets. ADIA invests, on behalf of the government of Abu Dhabi, in equities, bonds, real estate and infrastructure., with most of its investments concentrated...