Riyadh, Saudi Arabia – The value of assets under Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF) assets—both domestic and foreign—in the Saudi financial market recorded an annual growth of 37 percent (by nearly SAR 43 billion or $11.44bn) by the end of the third quarter (Q3) of 2024. This...

With 93% of Saudi workers considering generative AI essential, alongside 95% in the Middle East and 79% globally, the region's prioritization of AI is evident.

Equipped with cutting-edge sporting technology, the stadium will offer an immersive and personalized experience for fans. Additionally, it will act as a vibrant community hub

Riyadh, Saudi Arabia -- Saudi Arabia's Public Investment Fund (PIF)on Monday launched the Neo Space Group to work on the kingdom's nascent satellite and space industry, its first investment in the sector. One of the world's largest sovereign wealth funds, the PIF has already invested heavily in sports, gaming and so-called...

New York, United States -- The women's tennis tour (WTA) on Monday announced "a multi-year partnership" with the Saudi Arabian sovereign wealth fund (PIF), emulating a deal made by the men's tour (ATP) in February. The WTA said in a statement that it shared with PIF an "ambition to grow women's...

Riyadh, Saudi Arabia - Saudi Arabia is considering transferring ownership of its national carrier, Saudia, to the sovereign wealth fund, the Public Investment Fund (PIF). Reports said that this transfer would encompass other assets under Saudia's umbrella, such as its low-cost unit, Flyadeal. Bloomberg initially reported the discussions regarding PIF's...

Riyadh, Saudi Arabia -- Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF) rose to the fifth position among the world’s largest sovereign wealth funds (SWFs), after its net assets rose to $940.26 billion. PIF's assets rose by $163.6 billion, compared to $776.7 billion at the end of December 2023, according to the...

Saudi Arabia said it transferred an additional eight percent stake from oil giant Aramco to firms owned by the kingdom's PIF sovereign wealth fund, according to state media. Aramco is the main source of revenue for Crown Prince and Prime Minister Mohammed bin Salman's ambitious economic and social reform program...

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...

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...

The pacts were signed at the PIF’s Private Sector Forum.

Riyadh, Saudi Arabia - Red Sea Global, a company wholly owned by the Public Investment Fund (PIF) of Saudi Arabia, has unveiled a state-of-the-art robot designed specifically for beach cleanup in Red Sea and Amaala destinations.  The electric-powered robot is engineered to enhance the visual appeal of the sandy shores...

Makkah, Saudi Arabia — Global halal market is projected to reach an estimated $7.7 trillion by 2025. Leading the expansion is the Islamic finance sector, followed by the food and beverage industry, pharmaceuticals, medical and health products, cosmetics, as well as travel and tourism. In education and health sectors, recent...

RIYADH, SAUDI ARABIA - ASFAR, the Saudi tourism investment company wholly owned by the Public Investment Fund of Saudi Arabia, and the Municipality of Al-Ahsa signed an Memorandum of Understanding (MoU). The MoU aims to develop a major tourism attraction in the Eastern Province of the Kingdom of Saudi Arabia,...

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...

RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) announced on Monday the establishment of Dan Company, specializing in agritourism and ecotourism, according to a PIF press release. The company plans to develop unique tourism projects around cities across Saudi Arabia with attractive natural and farmed landscapes, the release said....

Saudi Arabia's 2024 budget hikes military spending to $71 billion for industry localization and modernization, targeting 50% equipment spending localization by 2030.

The aim is to stimulate the growth of the halal industry.

Saudi Arabia's sovereign wealth fund is to buy 10 percent of London's Heathrow airport from Spanish infrastructure giant Ferrovial, whose departure from the hub leaves Qatar as its biggest shareholder. Ferrovial said it was offloading its 25 percent stake for nearly US$3 billion, with the other 15 percent going to...

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...

PIF, SEC JV's brand name for EV infrastructure is EVIQ.

Despite summer temperatures touching 50 degrees Celsius (122 Fahrenheit) in the major cities, Saudi Arabian Football Federation president Yasser al-Misehal did not rule out playing the tournament in the hottest months. "Of course, we are ready for all possibilities," Misehal said late on Tuesday at the Asian Football Confederation awards...

Riyadh, Saudi Arabia -- As global banking elites attend the Future Investment Initiative forum in Riyadh, a focal point of Saudi Arabia's economic reforms, AFP takes a look at the vehicle that is bankrolling the transition: the Public Investment Fund. From world-class footballers to a new national airline and even a...

RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) on Thursday successfully priced its first dollar-denominated Shariah-compliant trust certificates (sukuk). The total amount of the issuance is $3.5 billion, consisting of two tranches - a $2.25 billion, 5 years sukuk maturing in 2028 and a $1.25 billion, 10 years sukuk...

The firm will drive strategic investments and partnerships

PIF will own 75% in the Electric Vehicle Infrastructure Company.

Riyadh, Saudi Arabia - Saudi Arabia is among the top 10 countries in the world in coffee consumption, leading the government to adopt various initiatives and programs to foster the beverage's cultivation. The Kingdom currently produces more than 400,000 Arabica coffee trees, yielding over 800 tons annually, from the regions...

RIYADH, SAUDI ARABIA - ROSHN Group, one of the Public Investment Fund (PIF) subsidiaries, announced on Sunday the opening of sales for the latest phase of SEDRA, the group’s flagship integrated community development here. According to a ROSHN Group press release, SEDRA phase 3 will add 3,438 more houses to...

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.

New firm will help Kingdom’s steel-making capacity.

Combining elements of everything from boxing to judo and Muay Thai, mixed martial arts (MMA) had a limited following in Saudi Arabia just a decade ago, but that started to change when the kingdom hosted the popular regional Desert Force competition in 2014.

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...

Saudi Arabia's employment figures received a significant boost in 2022, thanks to the efforts of the Public Investment Fund (PIF), which set up 25 companies and created 181,000 jobs during the year, latest official data has pointed out. The 2022 annual report of the PIF highlighted the establishment of a...

The investments are expected to localize partnerships.

The Kingdom's exports of dates and their derivatives increased by 5.4 percent annually in 2022, reaching a value of US$ 340 million.

Firm Saudi Tourism Investment Company has been set up.

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 - The Public Investment Fund (PIF) announced the establishment of Sawani Company to enable the growth of the camel farming industry in the Kingdom and actively contribute to its sustainable development. The company aims to be a leading producer of camel dairy products, supporting Saudi Arabia’s wider...

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.

The deal is worth US$266 million (SAR1.27 billion).

Lifera is a development and manufacturing company.

MENA region boasts one of the highest shares of gaming mobile app downloads, accounting for 50 percent compared to the global average of 40 percent, says a latest BCG report.

Riyadh, Saudi Arabia -- The King Abdullah Financial District Development and Management Company (KAFD DMC), a company wholly-owned by Public Investment Fund,  has become the Platinum Sponsor of Al Nassr Football Club (FC) for the next three years,  its first foray into the sporting world. The partnership is set to...

RIYADH, SAUDI ARABIA- The Public Investment Fund (PIF) announced the establishment of Badael Company, which aims to develop, manufacture and distribute innovative products targeted to reduce smoking prevalence and promote healthier lifestyles by offering tobacco-free and less harmful alternatives.   The initiative, in the run-up to the World Health Organization...

Riyadh, Saudi Arabia ‒ The Public Investment Fund (PIF) owned Water and Electricity Holding Company (Badeel) and ACWA Power are investing $3 billion into three new solar projects in Saudi Arabia. To this end, the companies announced the signing of power purchase agreements (PPAs) with the Saudi Power Procurement Company (SPPC). The...

Prince Mohammed said the latest transfer will "solidify PIF's strong financial position". Authorities did not give a value for the latest shares, which have been moved from the world's biggest oil exporter to Sanabil Investments, a firm controlled by the Public Investment Fund (PIF) that is led by Crown Prince...

Riyadh, Saudi Arabia -- Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), has announced three key initiatives aimed at supporting and enabling the private sector. These initiatives include the Local Content Growth Program, called MUSAHAMA, which seeks to increase the share of local content spend in PIF's domestic...

The farms will have a capacity of 1.1m kg of crops per year.

The deal follows the acquisition of 30% stake in Daawat

Public Investment Fund’s stake purchase in Kingdom Holding is part of the Saudi Arabia’s Vision 2030, Arun Leslie John, Chief Market Analyst, Century Financial, tells TRENDS