PIF-led group to acquire $807m stake in Zain KSA

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Updated 15 February 2022
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PIF-led group to acquire $807m stake in Zain KSA

RIYADH: Saudi Arabia’s Public Investment Fund, has joined up with Prince Saud bin Fahad and Sultan Holding Co. to acquire an $807 million stake in Zain KSA’s tower infrastructure.

The company, formally known as Mobile Telecommunication Co., will transfer 80 percent of its share capital to the acquirers, according to a bourse filing.

 As per the offer with the PIF, the company will grant the sovereign wealth fund the right to buy the remaining 20 percent stake at a certain amount.

The three deals will see the telecom firm sell its towers infrastructure comprising 8,069 towers while retaining wireless communication antennas, software, technology, and intellectual property.

In a statement to the stock exchange, Zain KSA noted that the execution of the offers is subject to obtaining necessary regulatory approvals.

 


King Abdulaziz Airport among world’s busiest after record-breaking 2025

Updated 02 January 2026
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King Abdulaziz Airport among world’s busiest after record-breaking 2025

RIYADH: King Abdulaziz International Airport has achieved a new historical milestone, reaching 53.4 million passengers in a single year.

This is the highest number ever recorded at a Saudi airport since the beginning of air travel in the Kingdom, placing it among the world’s mega airports in terms of passenger traffic, according to the Saudi Press Agency.

The airport handled a total of 310,000 flights and 60.4 million bags, representing a 12 percent increase compared to 2024. It also handled 9.57 million Zamzam water containers and 2,968 cargo flights. 

This achievement reflects the airport’s qualitative transformation and its position as a regional hub and national gateway connecting the Kingdom to the world. It also highlights its role in facilitating the movement of visitors and pilgrims, promoting tourism in line with the goals of Vision 2030, diversifying the economy, and providing a distinguished travel experience. 

For his part, CEO of Jeddah Airports Co. Mazen Johar, affirmed that reaching 53.4 million passengers confirms the airport’s high operational readiness and represents a pivotal milestone for moving to the next phase, in preparation for doubling this number, God willing, in the coming years. 

He pointed out that this national achievement would not have been possible without the grace of God Almighty, followed by the directives of the wise leadership and the continuous follow-up from the minister of transport and logistics, the president of the General Authority of Civil Aviation, and the CEO of Airports Holding Co. 

He explained that King Abdulaziz International Airport is strengthening its position as a major aviation hub in the region through expansions, increased capacity, and improved services, supporting the objectives of the aviation program and aligning with the goals of the Kingdom’s Vision 2030. 

The CEO of Jeddah Airports Co. expressed his gratitude to the partners in success from various government and private sectors for their fruitful cooperation through a collaborative work system that contributed to providing the best services.