The Public Investment Fund (PIF) closed 2024 with its strongest financial performance to date:
▪️Total assets rose by 18% to 4.321 trillion riyals ($977 billion).
▪️Annual revenues grew by 25% to 413 billion riyals ($88.3 billion).
▪️Net profit reached 26 billion riyals ($6.9 billion), despite inflation and rising interest rates.
Losses from asset revaluations remained below 2% of total assets.
Financial Resilience
▪️Loans and credit facilities totaled 570 billion riyals ($84.3 billion).
▪️Successful debt activities included $2 billion in USD-denominated sukuk and £650 million in GBP-denominated bonds ($820 million).
▪️Renewed $15 billion in revolving credit facilities.
Portfolio Company Growth
▪️AviLease recorded a 382% increase in net profit and over 350% in revenue, expanding its fleet to 189 aircraft.
▪️Roshn launched thousands of housing units in Mecca, Jeddah, and Dhahran.
▪️Alat invested 401 million riyals ($107 million) in a robotics manufacturing facility with SoftBank.
Tourism & Entertainment Expansion
▪️Opened premium resorts such as St. Regis Red Sea, Nujuma, and Ritz-Carlton Reserve in the Red Sea and Diriyah.
▪️Launched Ad Diriyah Hospitality to manage a new generation of Saudi hotel brands.
▪️Began operations of Aroya Cruises.
▪️Riyadh Air remains on track for commercial launch in 2025 with several strategic global partnerships.
Infrastructure & Telecom
▪️Established SARK to provide integrated housing solutions for workers.
▪️Signed a strategic agreement with STC to merge telecom tower assets—establishing the region's largest tower company.
Industrial & Tech Transformation
▪️Launched Alat to advance manufacturing in semiconductors, smart devices, robotics, and AI infrastructure.
▪️Established NEO Space Group to lead Saudi Arabia's satellite and geospatial data sector.
▪️Partnered with Google Cloud to open a global AI center in Dammam.
▪️Deployed an AI-powered investment evaluation platform.
▪️Launched PIF's proprietary large language model to enhance analysis and investment reporting.
The real message? PIF is not just growing in numbers—it's reshaping the Saudi economy sector by sector, strategy by strategy.
PublicInvestmentFund PIF Vision2030 SaudiArabia Investments GlobalMarkets ArtificialIntelligence Manufacturing Tourism Aviation SovereignWealthFund Roshn AviLease Alat NEOSpace RiyadhAir GoogleCloud STC BlackRock
▪️Total assets rose by 18% to 4.321 trillion riyals ($977 billion).
▪️Annual revenues grew by 25% to 413 billion riyals ($88.3 billion).
▪️Net profit reached 26 billion riyals ($6.9 billion), despite inflation and rising interest rates.
Losses from asset revaluations remained below 2% of total assets.
Financial Resilience
▪️Loans and credit facilities totaled 570 billion riyals ($84.3 billion).
▪️Successful debt activities included $2 billion in USD-denominated sukuk and £650 million in GBP-denominated bonds ($820 million).
▪️Renewed $15 billion in revolving credit facilities.
Portfolio Company Growth
▪️AviLease recorded a 382% increase in net profit and over 350% in revenue, expanding its fleet to 189 aircraft.
▪️Roshn launched thousands of housing units in Mecca, Jeddah, and Dhahran.
▪️Alat invested 401 million riyals ($107 million) in a robotics manufacturing facility with SoftBank.
Tourism & Entertainment Expansion
▪️Opened premium resorts such as St. Regis Red Sea, Nujuma, and Ritz-Carlton Reserve in the Red Sea and Diriyah.
▪️Launched Ad Diriyah Hospitality to manage a new generation of Saudi hotel brands.
▪️Began operations of Aroya Cruises.
▪️Riyadh Air remains on track for commercial launch in 2025 with several strategic global partnerships.
Infrastructure & Telecom
▪️Established SARK to provide integrated housing solutions for workers.
▪️Signed a strategic agreement with STC to merge telecom tower assets—establishing the region's largest tower company.
Industrial & Tech Transformation
▪️Launched Alat to advance manufacturing in semiconductors, smart devices, robotics, and AI infrastructure.
▪️Established NEO Space Group to lead Saudi Arabia's satellite and geospatial data sector.
▪️Partnered with Google Cloud to open a global AI center in Dammam.
▪️Deployed an AI-powered investment evaluation platform.
▪️Launched PIF's proprietary large language model to enhance analysis and investment reporting.
The real message? PIF is not just growing in numbers—it's reshaping the Saudi economy sector by sector, strategy by strategy.
PublicInvestmentFund PIF Vision2030 SaudiArabia Investments GlobalMarkets ArtificialIntelligence Manufacturing Tourism Aviation SovereignWealthFund Roshn AviLease Alat NEOSpace RiyadhAir GoogleCloud STC BlackRock
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