Company Insights Public Investment Fund (PIF) Finance Public Investment Fund (PIF) News Leisure & Hospitality New Red Sea private island to propel Saudi cruise sector Saudi Arabia is developing a private island in the Red Sea to boost its cruise tourism sector. Cruise Saudi, a subsidiary of the Public Investment Fund, has awarded a contract to Jeddah-based PC Marine Services to carry out the project. The island will be exclusive to cruise passengers and have facilities such as a welcome centre, […] October 10, 2024 Retail Cenomi Centers sets up fund to complete Qassim mall Saudi mall operator Cenomi Centers has partnered with GIB Capital to set up a SAR1 billion ($270 million) real estate development fund that will manage a Cenomi land sale in Qassim and allow a mall project there to go ahead. Bahrain’s Gulf International Bank (GIB), the third-largest lender in the country, is almost wholly owned […] October 8, 2024 Opinion Agriculture Vertical farms have failed to live up to the hype If its success relies on heavily subsidised fossil fuels, can it really claim to be sustainable? October 8, 2024 Transport Lucid beats latest delivery expectations Saudi-backed US luxury electric vehicle maker Lucid has exceeded market expectations for its third quarter, delivering 24 percent more cars than had been forecast. Analysts cited discounts and more favourable finance options as reasons for the sharp increase. Lucid delivered 2,781 vehicles in Q3, ahead of estimates of 2,242, according to analysts polled by Visible […] October 8, 2024 Analysis Giga-projects World Cup and Expo wins divert funding to Riyadh Saudi Arabia’s giga-projects have slowed down because of financing constraints – and now the government’s unexpected success in bidding for global events is redirecting even more resources towards Riyadh. Even prestigious developments such as Neom, the $500 billion futuristic city in north-west Saudi Arabia, are taking second place. The priority is turning the capital into […] October 8, 2024 Banking and Finance ADIA’s new office in India to fast-track investments Abu Dhabi Investment Authority (ADIA), the UAE’s largest sovereign wealth fund, is accelerating its India investment plans after starting operations from the special economic zone in Prime Minister Narendra Modi’s Gujarat home state. “India is one of the world’s fastest growing economies and has been a key focus for our investment activities for a number […] October 8, 2024 Retail Saudi Arabia buys 40% stake in UK retailer Selfridges Saudi Arabia’s Public Investment Fund (PIF) has acquired a stake in British luxury department store Selfridges, committing more investment to support its European expansion. The wealth fund has purchased Austria’s Signa Group’s interest in the retailer, subject to regulatory approvals. No financial details were disclosed. Through a partnership with Central Group, Thailand’s largest department store […] October 8, 2024 Renewable Energy PIF’s new venture to invest $10bn in green hydrogen Saudi Arabia’s Public Investment Fund (PIF) has established a new entity to invest an estimated $10 billion into the production of green hydrogen. The new subsidiary, Energy Solutions Company, will focus on funding the development of low-carbon fuel, Bloomberg reported, quoting unnamed sources. The investment is estimated to grow significantly in the coming years, driven […] October 8, 2024 Analysis Tourism Interest builds in mid-range Saudi hotels after luxury focus Saudi Arabia’s emphasis on luxury hotels has provided openings for investors in the mid-range segment, industry specialists said. “Look at the size of the country and what you can do. I work in all 13 regions and you’d be shocked at the untouched areas. It’s not Dubai where it’s all glitzy. They have a culture,” […] October 7, 2024 Leisure & Hospitality PIF explores raising stakes in Japanese gaming companies Saudi Arabia’s Public Investment Fund is exploring increasing its stakes in Japanese gaming companies to develop the kingdom as a global centre for gaming. “There are always opportunities,” Prince Faisal bin Bandar Al Saud, vice chairman of Savvy Games Group told Kyodo News, a Japanese news agency. PIF now owns 8.6 percent of Nintendo, after […] October 6, 2024 Posts navigation Previous 1 … 26 27 28 … 95 Next
Leisure & Hospitality New Red Sea private island to propel Saudi cruise sector Saudi Arabia is developing a private island in the Red Sea to boost its cruise tourism sector. Cruise Saudi, a subsidiary of the Public Investment Fund, has awarded a contract to Jeddah-based PC Marine Services to carry out the project. The island will be exclusive to cruise passengers and have facilities such as a welcome centre, […] October 10, 2024
Retail Cenomi Centers sets up fund to complete Qassim mall Saudi mall operator Cenomi Centers has partnered with GIB Capital to set up a SAR1 billion ($270 million) real estate development fund that will manage a Cenomi land sale in Qassim and allow a mall project there to go ahead. Bahrain’s Gulf International Bank (GIB), the third-largest lender in the country, is almost wholly owned […] October 8, 2024
Opinion Agriculture Vertical farms have failed to live up to the hype If its success relies on heavily subsidised fossil fuels, can it really claim to be sustainable? October 8, 2024
Transport Lucid beats latest delivery expectations Saudi-backed US luxury electric vehicle maker Lucid has exceeded market expectations for its third quarter, delivering 24 percent more cars than had been forecast. Analysts cited discounts and more favourable finance options as reasons for the sharp increase. Lucid delivered 2,781 vehicles in Q3, ahead of estimates of 2,242, according to analysts polled by Visible […] October 8, 2024
Analysis Giga-projects World Cup and Expo wins divert funding to Riyadh Saudi Arabia’s giga-projects have slowed down because of financing constraints – and now the government’s unexpected success in bidding for global events is redirecting even more resources towards Riyadh. Even prestigious developments such as Neom, the $500 billion futuristic city in north-west Saudi Arabia, are taking second place. The priority is turning the capital into […] October 8, 2024
Banking and Finance ADIA’s new office in India to fast-track investments Abu Dhabi Investment Authority (ADIA), the UAE’s largest sovereign wealth fund, is accelerating its India investment plans after starting operations from the special economic zone in Prime Minister Narendra Modi’s Gujarat home state. “India is one of the world’s fastest growing economies and has been a key focus for our investment activities for a number […] October 8, 2024
Retail Saudi Arabia buys 40% stake in UK retailer Selfridges Saudi Arabia’s Public Investment Fund (PIF) has acquired a stake in British luxury department store Selfridges, committing more investment to support its European expansion. The wealth fund has purchased Austria’s Signa Group’s interest in the retailer, subject to regulatory approvals. No financial details were disclosed. Through a partnership with Central Group, Thailand’s largest department store […] October 8, 2024
Renewable Energy PIF’s new venture to invest $10bn in green hydrogen Saudi Arabia’s Public Investment Fund (PIF) has established a new entity to invest an estimated $10 billion into the production of green hydrogen. The new subsidiary, Energy Solutions Company, will focus on funding the development of low-carbon fuel, Bloomberg reported, quoting unnamed sources. The investment is estimated to grow significantly in the coming years, driven […] October 8, 2024
Analysis Tourism Interest builds in mid-range Saudi hotels after luxury focus Saudi Arabia’s emphasis on luxury hotels has provided openings for investors in the mid-range segment, industry specialists said. “Look at the size of the country and what you can do. I work in all 13 regions and you’d be shocked at the untouched areas. It’s not Dubai where it’s all glitzy. They have a culture,” […] October 7, 2024
Leisure & Hospitality PIF explores raising stakes in Japanese gaming companies Saudi Arabia’s Public Investment Fund is exploring increasing its stakes in Japanese gaming companies to develop the kingdom as a global centre for gaming. “There are always opportunities,” Prince Faisal bin Bandar Al Saud, vice chairman of Savvy Games Group told Kyodo News, a Japanese news agency. PIF now owns 8.6 percent of Nintendo, after […] October 6, 2024
