Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), plans to invest $24 billion in Middle Eastern and North African countries, including in the real estate sector, according to Bloomberg. Reuters reported in August that Saudi Arabia has registered a budget surplus of nearly $21 billion in Q2-2022—an almost 50 percent increase from a year earlier. Since 2015, the PIF has grown assets under management from about $150 billion to $620 billion, according to Bloomberg.

This month, Saudi Arabia hosted the sixth Future Investment Initiative (FII) conference in Riyadh. The Initiative seeks to attract investment in Saudi Arabia. Attendees included Jamie Dimon of J.P. Morgan Chase, David Solomon of Goldman Sachs, Stephen Schwarzman of The Blackstone Group, Jared Kushner and former Treasury Secretary Steven Mnuchin.

Last Updated on October 28, 2022 by Ramin Seddiq