Skip to content Skip to Search
Skip navigation

PIF seeks $5bn investments in Oman

By Chris Hamill-Stewart
Saudi Crown Prince Mohammed bin Salman with Oman's deputy prime minister Assad bin Tariq Al Said. The two countries plan to increase investment and cooperation Saudi Press Agency via Reuters
Saudi Crown Prince Mohammed bin Salman with Oman's deputy prime minister Assad bin Tariq Al Said. The two countries plan to increase investment and cooperation
  • Saudi wealth fund and Oman Investment Authority sign MoU
  • Agreement will enable ‘new and promising investments’
  • Expanded cooperation via PIF’s Saudi Omani Investment Company

Saudi Arabia’s sovereign wealth fund, PIF, has signed a memorandum of understanding with its Omani counterpart to seek out investments in Oman worth $5 billion.

The agreement aims to support the expansion of investment and cooperation between PIF and its portfolio companies with the Oman Investment Authority (OIA), said a PIF announcement on Thursday. 

The MoU builds on the recently established Saudi Omani Investment Company (SOIC), which is expected to invest up to $5 billion in the sultanate.

SOIC in February closed its first investment: a 20 percent stake in Oman’s Abraj Energy Service during an IPO of the company, which is a subsidiary of Oman’s integrated energy group OQ.

OIA is one of the Gulf’s smaller sovereign investment funds but plays a leading role in Oman’s efforts to diversify its economy and foster sustainable development. 

It was reported last November that OIA manages $41 billion in assets.

Most of its investments, 61.5 percent, are in Oman. North America accounts for 17 percent, Western Europe makes up 9.3 percent, and Asia Pacific is 4.7 percent. 

As of this year, PIF, one of the region’s largest funds, manages $700 billion in assets, according to governor Yasir Al-Rumayyan. It mainly invests in Saudi Arabia but holds assets globally across its various areas of business.

Latest articles

Members of the crew of the Bahamas-flagged vessel Galaxy Leader following their release by Yemen's Iran-aligned Houthis

Shipping giants not yet ready to resume Red Sea route

Two shipping giants said on Friday that they are in no rush to resume routes through the Suez Canal after a Yemeni militia announced earlier this week it will scale back hostilities against vessels transiting through the Gulf of Aden and Red Sea if the ceasefire in Gaza holds. Danish shipper Maersk and Abu Dhabi […]

Electronics, Hardware, Computer Under planned regulations, data centres will be 'fully protected, like embassies,' Saudi Arabia says

Foreign data centres will be secure, promises Saudi minister

A regulatory framework to protect foreign-owned data centres set up in Saudi Arabia is being planned that will treat them in a similar way to embassies, as the kingdom seeks to become a global destination for the industry. The Saudi finance minister, Mohammed Al-Jadaan, speaking at the World Economic Forum in Davos, outlined the country’s […]

With the acquisition of the Oman business, Americana operates 450 Pizza Hut restaurants across the Mena region

Americana acquires Pizza Hut business in Oman

Americana Restaurants, the largest food service business in the Mena region, has acquired the Pizza Hut brand in Oman from the Khimji Ramdas Group.  The restaurant operator said the acquisition includes 46 Pizza Hut restaurants which had an annual revenue of approximately $11 million in 2024.  The additional outlets increase its Pizza Hut restaurants across […]