RIYADH: Saudi Arabia’s Public Investment Fund (PIF) assets have grown to about SR1.6 trillion ($426.6 billion) and it aims to expand this to SR4 trillion ($1 trillion) by the end of 2025, said Deputy Governor Yazeed Al-Hamid.
The sovereign wealth fund aims to boost its local investments to account for 75-80 percent of its total investments, Al-Hamid told Al Riyadh paper.
The PIF contributed about SR311 billion in the Saudi economy, and contributed to generating 331,000 direct and indirect jobs in the local market between 2016 and 2020. It aims to generate about 1.8 million direct and indirect jobs by the year 2025, he said.
The PIF also hopes to pave the way for more local stock exchange flotations by becoming an active participant in the Kingdom’s financial markets, through the listing of some of its Saudi units.
It is focusing on 13 strategic sectors including service utilities, renewable energy, aviation and defense, vehicles, transport and logistics, minerals and mining, financial services, health care, communications, media and technology, food and agriculture, and others, Al-Hamid said.
He emphasized the role of the fund’s investments in promoting the renewable energy sector in the Kingdom amid the pressing global challenge of climate change.
He said that the ‘fund of funds’ company (Jada) was established to stimulate investment in private equity and venture capital funds.
It has invested SR1.4 billion in 18 investment funds so far, Al-Hamid said.
Among its investments is a 50 percent stake in Americana, a leading restaurant and food company in the MENA region.
Saudi Arabia's PIF eyes $1 trillion assets by end of 2025, says deputy governor
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Saudi Arabia's PIF eyes $1 trillion assets by end of 2025, says deputy governor
Closing Bell: Saudi benchmark index edged up to close at 10,549
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Thursday, gaining 58.39 points, or 0.56 percent, to close at 10,549.08.
Total trading turnover reached SR1.59 billion ($425 million), with 218 stocks advancing and 37 declining.
The parallel market, Nomu, added 222.72 points, or 0.96 percent, to finish at 23,519.01, as 43 stocks rose and 21 retreated. Meanwhile, the MSCI Tadawul Index increased by 6.11 points, or 0.44 percent, to close at 1,393.42.
Leading the day’s gains was Alkhaleej Training and Education Co., whose shares jumped 7.63 percent to SR20.45. Other strong performers included Consolidated Grunenfelder Saady Holding Co., up 6.60 percent to SR9.69, and Abdullah Saad Mohammed Abo Moati for Bookstores Co., which rose 6.48 percent to SR48.98.
On the downside, Naseej International Trading Co. recorded the largest decline, falling 2.44 percent to SR34.44, while National Gas and Industrialization Co. dropped 1.79 percent to SR93.10 and Nama Chemicals Co. slipped 1.32 percent to SR23.99.
Saudi Aramco Base Oil Co., or Luberef announced the signing of a memorandum of understanding with Saudi Aramco for a GIII+ production facility in Jazan.
The 18-month agreement, which may be renewed, is a key step in the Group III+ Project aimed at enhancing production capacity. The MoU is non-binding, and any future approvals, formal agreements, or financial impacts will be disclosed in line with regulatory guidelines. Luberef ended the session at SR96.10, down 0.26 percent.
Meanwhile, the Power and Water Utility Co. for Jubail and Yanbu, or Marafiq, reported receiving official notice of higher energy product prices used in production. The company estimated the financial impact for 2026 at 5.6 percent of total cost of sales, based on its most recent audited 2024 statements.
The effect is expected to appear in the first quarter of the 2026 fiscal year. Marafiq said it is working to mitigate the impact through improved production efficiency, enhanced plant reliability, optimized asset utilization, and cost reductions. The stock closed at SR36.80, up 1.03 percent.
