Sovereign wealth fund tracker Global SWF has identified 35 RPOs in the GCC, with the UAE home to a vast majority of these offices
Public Investment Fund
Latest in Public Investment Fund
PIF
Saudi PIF-backed SURJ Sports Investment acquires minority stake in DAZN
The partnership aims to strengthen Saudi Arabia as a leading market for sports investments, while capitalising on the significant growth in demand for high-quality sports broadcasting.
Abu Dhabi business
New tax in the UAE; Blue Visa launched; Saudi megaproject guide; Dubai Loop announced – 10 things you missed this week
New taxes and visa in the UAE, Elon Musk reveals Dubai Loop plan; Saudi megaprojects revealed, expected Ramadan dates and more top stories this week
Boutique Group
Saudi’s Boutique Group plans to triple luxury palace hotel portfolio, eyes global expansion
The company could also be looking to explore opportunities to export its palace-to-hotel conversion expertise to other markets
Private sector
Private sector acceleration is key to economic diversification and growth
PIF’s example shows how the right ecosystem enables transformation
Boutique Group
EXCLUSIVE: Saudi’s Red Palace hotel hits 60% construction milestone, says Boutique Group CEO
Since 2022, Boutique Group has been tasked with transforming historic Saudi palaces into ultra-luxury hotels
NEOM
Saudi Arabia megaprojects: 19 major developments transforming the kingdom
Saudi Arabia’s multi-billion-dollar projects to diversify its economy, generate jobs, and establish itself as a global commercial hub
Abu Dhabi
Abu Dhabi’s Mubadala overtakes Saudi’s PIF as world’s top sovereign fund investor with over $29bn in 2024
Since 2023, Mubadala’s investments jumped 67% while PIF’s dropped 37%
entertainment destinations
Saudi Arabia’s SEVEN announces new $346mn entertainment destination
Set to be located in Jazan, the flagship destination will span over 60,000 square metres with entertainment and recreational facilities
PIF
Saudi Arabia’s PIF sells 2% stake in stc for over $1bn
PIF maintains ownership of 3.1 billion shares, equivalent to 62 percent of stc’s issued share capital, following the transaction
Public Investment Fund
ANALYSIS: Inside Saudi Arabia’s sprint to hit SAR1.2tn non-oil GDP by 2025
Saudi Arabia’s ambitious target of SAR1.2tn in non-oil GDP by next year is testing both its resolve and resources
PIF
PIF-backed Roshn in talks with banks to raise $667mn in early 2025: Report
In the shorter term, the Saudi developer expects to raise SAR 18 billion in total from local banks by the end of 2024
Abu Dhabi
New UAE laws; Petrol price increase; Dubai’s ‘viral chocolate’; Visa amnesty extended; Tax rules updated – 10 things you missed this week
UAE visa amnesty, new laws announced, petrol prices increased, Dubai real estate strategy and more of the top news stories this week
Future Investment Initiative
Saudi Arabia’s PIF pivots to domestic focus, eyes AI revolution, says Al-Rumayyan
The fund is reportedly in early discussions about a potential AI partnership worth up to $40 billion with venture capital giant Andreessen Horowitz
golf tournament
LIV Golf to offer one season-long card through Promotions event in Riyadh
The winner of the tournament gets into the 54-man roster of the PIF-backed League in 2025; Top-10 get exemption to International Series
PIF
Saudi Arabia’s PIF forms new property developer to construct staff accommodation complexes
PIF creates new developer to build and operate staff accommodation for major real estate project construction projects in Saudi Arabia
Crown Prince Mohammed bin Salman
Saudi Crown Prince promises $5bn investment in Egypt through PIF
The pledge comes after crown prince meets Egyptian Prime Minister in Riyadh; Details of the investment not known as yet