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  • Saudi PIF-backed developer Roshn launches 30,000 home Saudi community

    Roshn, the community developer backed by Saudi Arabia’s Public Investment Fund, has launched its first project in the Kingdom. Sedra will be a 30,000-home development spread across an area of 20 million square meters north of Riyadh, south of King Khalid Airport, Roshn said in a statement.

  • Saudi’s PIF participates in India-based Healthifyme’s $75 million Series C round

    Saudi Arabia's Public Investment Fund has invested in India-based healthtech Healthifyme's $75 million Series C funding round, led by Khosla Ventures and LeapFrog Investment.

  • Saudi PIF, COSCO buy 21.2% stake in Red Sea Gateway Terminal

    Saudi Industrial Services Company SISCO raised SR556.5 million ($148.2 million) from the sale of its minority stake in the Red Sea Gateway Terminal. It sold the 21.2 percent stake to the Public Investment Fund and COSCO SHIPPING Ports Limited, it said in a stock exchange filing.

  • PIF’s Sanabil Investments increases share capital by 50% to $8bn

    The Saudi Arabian Investment Company (Sanabil Investments) on Wednesday announced that its parent company, the Public Investment Fund, had approved increasing its share capital by 50 percent to SR30 billion ($8 billion). The Saudi Cabinet approved the establishment of Sanabil Investments in 2008. A closed joint-stock company, it originally had a paid-up capital of SR20 billion.

  • Saudi Arabia’s PIF eyes $1 trillion assets by end of 2025, says deputy governor

    Saudi Arabia’s Public Investment Fund (PIF) assets have grown to about SR1.6 trillion ($426.6 billion) and it aims to expand this to SR4 trillion ($1 trillion) by the end of 2025, said Deputy Governor Yazeed Al-Hamid. The sovereign wealth fund aims to boost its local investments to account for 75-80 percent of its total investments, Al-Hamid told Al Riyadh paper.

  • Saudi Arabia’s PIF considers buying Dubai design firm Depa, sources say

    Saudi Arabia's Public Investment Fund (PIF) is considering buying Dubai-listed interior design and speciality contractor Depa Plc (DEPA.DI) to fit-out hotels under construction in the kingdom, three sources with knowledge of the matter said. Should a deal be reached, an offer would be made to Depa's biggest shareholders and the firm would be taken private, said one of the sources, declining to be identified as the matter is not public.

  • Saudi PIF-owned SRC cuts home mortgage rates by 10bps

    The company, wholly-owned by the Saudi wealth fund, Public Investment Fund (PIF), buys home financing portfolio from local banks and non-bank lenders, and currently has a portfolio of 6.5 billion riyals ($1.6 billion) as at the end of 2020, up from 2.2 billion riyals in 2019.

  • Saudi PIF names ex-Samba CEO Nashar as head of compliance and governance

    The Public Investment Fund (PIF), Saudi Arabia's $430 billion sovereign wealth fund, has appointed Rania Nashar, a former chief executive of Samba Financial Group, as its head of compliance and governance, the fund said on Thursday. Nashar joined the PIF as a senior advisor to its governor Yasir al-Rumayyan in January this year, drawing on more than two decades of banking industry experience.

  • PIF-backed Noon hires more Saudi youth as it expands KSA operations

    Top regional e-commerce platform Noon said it was expanding its customer service operations in Saudi Arabia, creating hundreds of jobs for Saudi youth.

  • Sovereign fund PIF considers Saudi Telecom stake sale, sources say

    Saudi Arabia's Public Investment Fund (PIF) is considering divesting part of its stake in Saudi Telecom, sources close to the matter told Reuters, as the sovereign wealth fund seeks to monetize some of its assets. The fund, which holds $430 billion of assets, has hired Goldman Sachs and Saudi National Bank's investment banking arm to arrange a transaction, three sources said, declining to be named because the matter was not public.