Lucid said last month it was raising $1bn in capital from Ayar Third Investment Co, an affiliate of Saudi Arabia’s Public Investment Fund
Alat aims to create 39,000 direct jobs in Saudi Arabia by 2030, and achieve a direct non-oil GDP contribution of $9.3bn by the same year
The venture, which may amalgamate new and existing races, is being led by a handful of teams including Visma-Lease a Bike and billionaire businessman Jim Ratcliffe’s Ineos Grenadiers
The partnership with Formula E, Extreme E and E1 will promote educational opportunities tied to electric motorsports, as well as community, social programmes and environmental stewardship
The extension of this agreement is aimed at advancing the goals of the Vision 2030 Housing Program
Big-ticket purchases included $4.9bn for US gaming company Scopely, $3.6bn to buy Standard Chartered’s aircraft leasing division and $3.3bn for steelmaker Hadeed
Heathrow’s sale valued the airport at 14.3 times EBITDA, according to JP Morgan analysis
The wealth fund’s investment will include an element of primary equity, and the completion of the deal is subject to regulatory approval
The transaction is subject to regulatory conditions and must comply with the right of first offer
The issuance was offered in five and seven-year dual tenors, marking the final two tranches under its SAR20bn government-guaranteed sukuk programme
The funds from this loan facility will support The Helicopter Company’s ongoing investments in cutting-edge aircraft and infrastructure
Some companies have raised concerns over the regulatory framework, including taxation
Hyundai will act as a strategic technology partner, offering technical and commercial expertise to support the plant’s development
The wealth fund will hold a 75 per cent shareholding in the company, while the SEC will own the remaining 25 per cent stake
The company will follow leading urban planning and environmental sustainability standards to preserve the area’s unique heritage
The masterplan is designed to offer unparalleled living experience while safeguarding the region’s ecological and cultural treasures
ADES set the final offer price for the offering at SAR13.50 per share, implying a market capitalisation of SAR15.2bn at listing
The deal is expected to close before the end of the first quarter of 2024
The development aims to offer an exceptional living experience and represents Roshn’s inaugural fully mixed-use endeavour
The sovereign wealth funds from Saudi Arabia, Qatar and the UAE appear to have become go-to investors in difficult times for the global markets
The fund has signed an agreement with Oman Investment Authority aiming to invest in a wide range of asset classes and target industries
The company will play a key role in improving the quality and production capacity of Ajwa dates in the Madinah region
The two parties will jointly formulate a strategy to best approach the international market and secure offtake arrangements
The PIF is in the midst of a global investment spree after it was transformed from a domestically-focused holding company into a sovereign fund in 2016
The biopharma investment firm seeks to advance formulation development, medicine development and manufacturing
The fund projected that Saudi Arabia would swing to a deficit in 2023 on lower oil revenue
The deal is aimed at supporting Tamimi Markets’ growth plans including a potential initial public offering
The automaker plans to use the proceeds for general corporate purposes including capital expenditures and working capital
The new company will make tobacco-free nicotine delivery products available across Saudi Arabia by the end of 2023
The steel manufacturing base has a designed annual capacity of 2.5 million tonnes of direct reduced iron and 1.5 million tonnes of steel plate