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Sovereign Wealth Funds

City, Architecture, Building Abu Dhabi alternative investment fund Lunate and Saudi Arabia-based Olayan will each own 24.5 percent equity interest in ICDBP ICD Brookfield Place Dubai

Lunate and Olayan buy into Dubai’s ICD Brookfield Place

Dubai’s sovereign wealth fund Investment Corporation of Dubai and Brookfield Corporation have sold a 49 percent stake in ICD Brookfield Place (ICDBP), the emirates’ largest office tower. Abu Dhabi alternative investment fund Lunate and Saudi Arabia-based Olayan will each own 24.5 percent equity interest in ICDBP. It is the largest institutional third-party single-asset real estate […]

The UAE and Saudi Arabia in particular are investing heavily in life sciences and longevity

Abu Dhabi puts together global life sciences contender

A new company to help establish Abu Dhabi as a major global player in life sciences has been announced by the emirate’s sovereign wealth fund ADQ. The new concern, called Arcera, will act as an umbrella entity for ADQ’s shareholdings in the Swiss pharmaceutical company Acino, Birgi Mefar Group of Turkey and Egypt’s Amoun. Arcera […]

A cashier rings up products at a Walmart store in San Marcos, Texas. Gulf wealth funds invest in US household names such as Walmart and Starbucks

UAE invests $2.5 trillion overseas, with US the top recipient

The UAE has invested an estimated $2.5 trillion overseas as of early 2024, with the United States the prime destination.  “The UAE has strengthened its position in the global economy,” Jamal bin Saif Al Jarwan, secretary-general of the UAE International Investors Council, was quoted as saying by the state-owned Wam news agency. “It ranked first […]

The Ivy outlet in London

Gulf SWFs named as potential suitors of The Ivy

Gulf sovereign wealth funds are among a host of buyers said to be interested in taking charge of the group behind the UK’s prestigious Ivy restaurant. A £1 billion ($1.26 billion) sale is expected to be complete by the end of June. Troia, the company that owns the Ivy and some 50 other restaurants, is […]

Eurasian Resources Group is testing its Nomad mining robot – based on Mars rover tech – in Saudi Arabia

Demand for Saudi mining licences rises sharply

Incentives and legislation are fuelling growth in Saudi Arabia’s mining industry as the government seeks to stimulate investment under Vision 2030. The Ministry of Industry and Mineral Resources said demand for Saudi mining licences had surged since a mining investment law came into force in 2021. The number of building material quarry licences jumped to […]

People, Person, Adult Formula One F1 - Saudi Arabian Grand Prix - Jeddah Corniche Circuit, Jeddah, Saudi Arabia - March 9, 2024 Chairman of Aramco's Board of Directors HE Yasir O. Al-Rumayyan is pictured on the grid before the race REUTERS/Hamad I Mohammed

Saudi Arabia to create $40bn AI fund

Saudi Arabia plans to create a $40 billion fund to invest in artificial intelligence, The New York Times reported on March 19, citing three sources briefed on the plans. Officials of the kingdom’s sovereign wealth fund – the Public Investment Fund – have discussed a potential partnership with US venture capital firm Andreessen Horowitz and […]

Adult, Female, Person

Work underway on cube at centre of New Murabba giga-project

The company building New Murabba, one of Saudi Arabia’s biggest giga-projects, said this week that construction was underway on the development’s centrepiece: a cubic structure being marketed as “large enough to hold 20 Empire State Buildings”.  The New Murabba Development Company, which is owned by the Saudi Public Investment Fund, is charged with creating a […]

Tourists walk on the road next to the beach in Paphos, Cyprus. Gulf funds are 'looking at all of Cyprus', particularly in real estate

Gulf funds investing in Cyprus ‘only a question of time’

Three sovereign wealth funds from the Gulf are in discussions to invest in real estate projects in Cyprus, according to one of the island’s biggest developers. “It’s only a question of time that it is going to happen,” said Pantelis Leptos, co-president of the developer Leptos Estates, without giving further details on the wealth funds […]


Saudi PIF ‘interested’ in buying stake in UK Selfridges

Saudi Arabia’s Public Investment Fund (PIF) is looking to buy a stake in British luxury department store Selfridges after the collapse of one of its owners, as it seeks ways to improve funding flows to Saudi giga-projects.  Austrian company Signa faces insolvency, opening up its 50 percent share in Selfridges to acquisition. The other owner […]

UAE president Sheikh Mohamed bin Zayed Al Nahyan with Indian prime minister Narendra Modi during his visit to the Gulf region in February

India is top Asian target for Middle East investors

India is more than twice as important as China as a target for Middle East investment, an industry report has revealed. Since 2020, private capital deal value from the Middle East into Asia has soared more than sixfold, from $14 billion between 2016 and 2019 to $83 billion since 2020, data from the Global Private […]

Gulf wealth funds put investing in US well ahead of China

Most sovereign wealth funds in the Gulf remain heavily invested in the US, while China represents a much smaller part of their portfolios, data from the consultancy Global SWF shows.  The data also shows that the portfolios of Gulf sovereign wealth funds vary widely in terms of their geographical distribution. This is partly a result […]

Crowd, Person, Adult ATP chief executive officer Massimo Calvelli and PIF head of corporate affairs Kevin Foster sign the sponsorship agreement

Saudi wealth fund becomes sponsor for ATP Tour  

Saudi Arabia’s sovereign wealth fund has become the official naming partner of the ATP rankings, part of its wider sponsorship of men’s tennis governing body. The Public Investment Fund will partner with ATP Tour events in Indian Wells, Miami, Madrid, Beijing and the Nitto ATP Finals, in addition to the Next Gen ATP Finals, hosted […]

Khaldoon Khalifa Al Mubarak, group chief executive officer of Mubadala

Sovereign funds must be ‘enablers of progress’ says Mubadala chief

Sovereign wealth funds have a responsibility to transform from asset investors to enablers of global progress, the CEO of Abu Dhabi’s Mubadala Investment Company, Khaldoon Al Mubarak, has announced. Al Mubarak told an investor conference in Abu Dhabi: “We are in the business of driving progress and investing in solutions to global challenges.” The government-controlled fund was […]

Abdullah Binghannam, deputy head of financing and investment at the Capital Market Authority, spoke on the second day of the forum in Riyadh

Saudi Arabia prods blue chips to list more shares

Saudi Arabia is prodding blue-chip companies on its stock exchange to offer more shares to the public as part of a drive to become a global financial centre.  Abdullah Binghannam, deputy head of financing and investment at the kingdom’s Capital Market Authority, told a markets forum in Riyadh on Tuesday that a regulatory framework was […]

There are many steps from mining iron ore to a car rolling off the production line but Saudi Arabia plans to cover them all car being made manufacturing car EV electric vehicle

Saudi Arabia joins the dots from minerals to manufacturing

Consider for a moment how many different steps there are between digging a lump of iron ore out of the ground in Mauritania and pressing the starter button on a new electric vehicle (EV) in Riyadh. The ore must be mined, concentrated, combined with other elements, put through a furnace, a casting machine, cold- or […]

Turkey's stall at the India International Trade Fair in New Delhi: trade and investment opportunities between India and the region are increasing, says HSBC

$112bn of trade with India ‘ready to be tapped’

Untapped trade opportunities between India and the Middle East, North Africa and Turkey could be worth more than $112 billion, research has found. An HSBC report, which analyses data from the UN/WTO International Trade Centre, estimates that there is a $61 billion export gap for Indian companies in the key markets of the UAE, Saudi […]

Electric vehicles on display in London at the launch of a partnership between PIF and Formula E, Extreme E and E1 this week

PIF’s new deal to spark surge in e-motorsports

Saudi Arabia’s Public Investment Fund (PIF) has announced a multi-year partnership with Formula E, Extreme E and E1 powerboat racing to boost the profile of sustainable electric motorsports in the kingdom. The Electric 360 programme is part of the sovereign fund’s carbon reduction initiatives.  PIF ranks first in the Middle East for sustainability among the […]

US treasury secretary Janet Yellen. The department issues the treasury instruments that are seen as low-risk investment opportunities

Saudi US treasuries holdings hit two-year high 

Saudi holdings of US treasuries surged to a two-year high of $128.1 billion in November from a six-year low of $108.7 billion in June, according to newly released data from the US Department of the Treasury.  Treasuries are government debt instruments issued by the Treasury and auctioned by the US Federal Reserve, and are considered […]