New board of directors for Saudi Arabia’s Qiddiya Investment Co.

Crown Prince Mohammed bin Salman will head the new Qiddiya board. (SPA/File photo)
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Updated 14 December 2019
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New board of directors for Saudi Arabia’s Qiddiya Investment Co.

  • The PIF launched the Qiddiya project as an entertainment, sports and arts destination with more than 300 facilities

RIYADH: The Saudi Public Investment Fund (PIF) has approved a new board of directors for Qiddiya Investment Co. (QIC).

Crown Prince Mohammed bin Salman will head the new board. 

It consists of Prince Abdul Aziz bin Turki Al-Faisal, Prince Turki bin Hathloul bin Abdul Aziz, Prince Badr bin Abdullah bin Farhan, Majid bin Abdullah Al-Hogail, Ahmed bin Aqeel Al-Khatib, Eng. Ibrahim bin Mohammed Al-Sultan, Fahd bin Abdulmohsen Al-Rasheed, Eng. Faisal Bafarat, and Dr. Rakan Al-Harthy.

The PIF launched the Qiddiya project as an entertainment, sports and arts destination with more than 300 facilities particularly aimed at Saudi youth. 

It will occupy an area of 334 square kilometers west of Riyadh. 

The PIF hopes it will contribute to diversifying the Saudi economy, in line with Saudi Vision 2030.

In 2017, the PIF announced its 2018-2020 program —  one of 12 programs designed to help achieve Saudi Vision 2030 —  outlining its plans to contribute to the diversification of the economy and transform the Kingdom into a hub for international investment by next year. 

The goal was to raise the value of its managed assets to over $400 billion by 2020.

The PIF is the Kingdom’s main investment arm, and its goal is to become one of the largest and most influential sovereign wealth funds in the world. 

To achieve that, it is, according to a statement, “working to establish a diversified portfolio in accordance with the highest international standards by investing in attractive and long-term opportunities in various sectors and assets locally and internationally.”

It invests in four main areas: Saudi companies, real estate, Saudi mega-projects, and “promising sectors.”


Celestial spectacle in KSA’s north on first day of Ramadan

Updated 19 February 2026
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Celestial spectacle in KSA’s north on first day of Ramadan

  • Venus-crescent moon alignment visible in Northern Borders
  • Meteorology center issuing swift weather alerts for pilgrims

ARAR/JEDDAH: The holy month of Ramadan has commenced in the Kingdom with a striking astronomical display in the Northern Borders Region, setting a serene tone for the month, the Saudi Press Agency reported.

In addition, the National Center for Meteorology has confirmed its readiness to support pilgrims in Makkah and Madinah.

On Tuesday evening in Arar there was a rare alignment of the planet Venus with the slender crescent moon marking the first day of Ramadan.

Appearing shortly after sunset, the crescent shimmered low on the western horizon above Venus — one of the brightest celestial bodies — in a display enhanced by clear skies.

While the conjunction is a recurring astronomical phenomenon caused by the apparent proximity of the two bodies as viewed from Earth, its coincidence with the start of the holy month added a special aesthetic and spiritual dimension to the atmosphere in the north, the SPA said.

The plan includes heightened performance levels at observatories in the Kingdom’s airports to manage increased flight traffic and aviation safety. (SPA)

Meanwhile, as the faithful began fasting, the NMC announced the readiness of its observatories at the Kingdom’s airports to manage increased flight traffic and ensure aviation safety.

The NCM’s CEO Dr. Ayman bin Salem Ghulam said there would be round-the-clock weather monitoring for Makkah, Madinah, and the roads leading to the two holy mosques.

To ensure pilgrims have real-time access to information, the NCM has integrated its data with the Nusuk and Tawakkalna smart applications. Ten-day forecasts and alerts will also be available via the Anwaa app and on guidance boards along highways.

The center has 14 media platforms to deliver swift weather alerts, ensuring high standards of security and logistical support throughout the season, the SPA reported.