#PIF

PIF launches ALAT a tech firm getty images

Alat: PIF’s new advanced tech firm to drive economic shift

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

cycling - Tour de France 2020

Saudi Arabia’s PIF closes in on deal to create new cycling league

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

PIF Launches Electric 360 Image PIF

PIF unveils ‘Electric 360’ partnership, announces new brand revamp

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

PIF-owned SRC extends refinancing deal with Alrajhi Bank - GettyImages-1667969985

PIF’s SRC extends refinancing deal with Alrajhi Bank, total value hits SAR10.8bn

The extension of this agreement is aimed at advancing the goals of the Vision 2030 Housing Program

Saudi Arabia’s PIF invests $31.6bn in 2023

Saudi wealth fund PIF splashes $31.6bn in 2023

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 airport road sign

Heathrow stake sale to PIF opens door for a resurgence in airport deals

Heathrow’s sale valued the airport at 14.3 times EBITDA, according to JP Morgan analysis

PIF to acquire 49% stake in Rocco Forte

Saudi wealth fund PIF to acquire 49% stake in Rocco Forte Hotels

The wealth fund’s investment will include an element of primary equity, and the completion of the deal is subject to regulatory approval

Heathrow airport road sign

Saudi’s PIF to pick up 10% stake in London’s Heathrow airport

The transaction is subject to regulatory conditions and must comply with the right of first offer

PIF-owned SRC successfully wraps up SAR3.5bn sukuk GettyImages

Saudi Real Estate Refinance Company wraps up SAR3.5bn sukuk issuance

The issuance was offered in five and seven-year dual tenors, marking the final two tranches under its SAR20bn government-guaranteed sukuk programme

The Helicopter Company and GIB sign loan facility deal_Image Supplied

PIF’s The Helicopter Company, GIB-Saudi Arabia ink SAR800m Murabaha loan facility deal

The funds from this loan facility will support The Helicopter Company’s ongoing investments in cutting-edge aircraft and infrastructure

Saudi Arabia - Riyadh Image Getty Images

Saudi Arabia to enforce January deadline to move regional HQs to Riyadh

Some companies have raised concerns over the regulatory framework, including taxation

Hyundai, PIF JV

PIF, Hyundai to build $500m high-tech car manufacturing plant in Saudi Arabia

Hyundai will act as a strategic technology partner, offering technical and commercial expertise to support the plant’s development

Saudi PIF and Saudi ELectricity Company set up electric vehicle infrastructure company GettyImages-1464744716-1

PIF, Saudi Electricity Company launch Electric Vehicle Infrastructure Company

The Public Investment Fund (PIF) of Saudi Arabia and Saudi Electricity Company (SEC) have launched…

Saudi Arabia’s PIF, SEC set up EV infrastructure company

Saudi Arabia’s PIF, SEC set up EV infrastructure company

The wealth fund will hold a 75 per cent shareholding in the company, while the SEC will own the remaining 25 per cent stake

PIF launches Al Balad Development Company to develop Jeddha Historic District Image courtesy PIF X

Saudi’s PIF sets up Al Balad Development Company to transform Jeddah’s historic district

The company will follow leading urban planning and environmental sustainability standards to preserve the area’s unique heritage

SOUDAH PEAKS

Soudah Peaks: Saudi Arabia launches new luxury destination masterplan

The masterplan is designed to offer unparalleled living experience while safeguarding the region’s ecological and cultural treasures

ADES Holding announces share price on IPO Image courtesy Ades Group

PIF-backed ADES Holding gets $76.5bn in orders for Riyadh IPO

ADES set the final offer price for the offering at SAR13.50 per share, implying a market capitalisation of SAR15.2bn at listing

PIF-SABIC

Saudi’s PIF to create steel giant with $3.3bn Sabic deal

The deal is expected to close before the end of the first quarter of 2024

ROSHN MARAFY

Roshn unveils Marafy, to redefine urban living in Jeddah

The development aims to offer an exceptional living experience and represents Roshn’s inaugural fully mixed-use endeavour

GCC wealth funds are new bankers to the world

GCC wealth funds are new bankers to the world: Here’s why

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

Oman Investment Authority

Saudi Arabia’s PIF to expand investment in Oman

The fund has signed an agreement with Oman Investment Authority aiming to invest in a wide range of asset classes and target industries

Saudi Arabia’s PIF launches firm to promote date industry

Saudi Arabia’s PIF sets up company to promote Ajwa dates

The company will play a key role in improving the quality and​ production capacity of Ajwa dates in the Madinah region

PIF and Engie sign Mou to build hydrogen projects in Saudi Arabia

Saudi Arabia: PIF, ENGIE to jointly develop hydrogen projects

The two parties will jointly formulate a strategy to best approach the international market and secure offtake arrangements

Aramco, PIF and China’s Baosteel steel JV

Saudi Arabia’s sovereign wealth fund PIF reports $11bn loss for 2022

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

PIF sets up Lifera to boost biopharma industry growth

Saudi Arabia’s PIF sets up Lifera to boost biopharma industry growth

The biopharma investment firm seeks to advance formulation development, medicine development and manufacturing

IMF trims Saudi Arabia growth forecast

IMF trims Saudi Arabia growth forecast to 2.1% in 2023

The fund projected that Saudi Arabia would swing to a deficit in 2023 on lower oil revenue

Tamimi markets sells 30% stake to PIF

Saudi wealth fund PIF to acquire 30% stake in Tamimi Markets

The deal is aimed at supporting Tamimi Markets’ growth plans including a potential initial public offering

Saudi-backed Lucid Air sedan

Saudi-backed electric car maker Lucid plans to raise $3bn

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

PIF has launched a new company Badeal

Saudi wealth fund PIF launches Badael to make tobacco-free products

The new company will make tobacco-free nicotine delivery products available across Saudi Arabia by the end of 2023

Aramco, PIF and China’s Baosteel steel JV

Aramco and PIF set up JV to build steel plant with China’s Baosteel

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