#King Abdullah Economic City

Lucid Group secures $1bn from Saudi PIF affiliate

Saudi-backed Lucid Group to raise $1bn from PIF affiliate

The automaker plans to use the proceeds for general corporate purposes including capital expenditures and working capital

Saudi sovereign wealth fund acquires 25% stake in Emaar the Economic City

The transaction is in line with Public Investment Fund’s Strategy 2021-2025, which focuses on building strategic economic partnerships