PIF establishes its first commercial paper program

PIF is one of the world’s most impactful investors, enabling the creation of key sectors and opportunities that help shape the global economy.
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Updated 28 June 2025
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PIF establishes its first commercial paper program

Saudi Arabia’s Public Investment Fund has announced the establishment of its commercial paper program, adding a new source of funding to its existing instruments.

The program, which allows CP issuance through offshore special purpose vehicles, comprises two sub-programs, a US CP program and a Euro CP program. The program is rated P-1 by Moody’s and F1+ by Fitch, the highest possible ratings for such an initiative.

CP issuances enhance PIF’s short-term financing flexibility and complement its long-term capital raising efforts. CP is a common cash management tool in global financial markets, and the establishment of this program by PIF reflects its agile capital raising strategy.

Fahad AlSaif, PIF’s head of global capital finance and investment strategy and economic insights, said: “The establishment of our CP program reflects the continued strength and depth of PIF’s capital raising strategy, one that is dynamic, resilient, and fit for purpose, aligning funding solutions with our long-term investment priorities.”

PIF’s medium-term capital-raising strategy is built on diversified funding solutions that include a range of instruments, such as bonds, sukuk and loans. In October 2022, PIF became the first sovereign wealth fund globally to issue a green bond including the world’s first century green bond. This was later followed by PIF’s inaugural sukuk issuance priced at $3.5 billion. PIF is rated Aa3 by Moody’s with a stable outlook, and A+ by Fitch, also with a stable outlook.

PIF is one of the world’s most impactful investors, enabling the creation of key sectors and opportunities that help shape the global economy, while driving the economic transformation of Saudi Arabia.


Dhahran Mall celebrates community through Sharqiyah International Race, launches Al-Tajdeed initiative

Updated 20 December 2025
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Dhahran Mall celebrates community through Sharqiyah International Race, launches Al-Tajdeed initiative

For nearly two decades, Dhahran Mall has served as a gathering place where families create memories, communities come together, and generations celebrate life’s milestones in the Eastern Province. This commitment to community was reaffirmed this past weekend as Dhahran Mall served as the golden sponsor of the 27th Sharqiyah International Race, continuing the community engagement that has always defined the mall’s identity.

Held along Alkhobar Corniche on Dec. 13, under the patronage of Eastern Province Gov. Prince Saud bin Nayef, the race brought together approximately 10,000 participants from across the Kingdom and beyond. In the days leading up to the event, Dhahran Mall hosted the official race kit distribution, welcoming an average of 2,000 runners daily over three days.

Demonstrating its commitment to inclusivity, Dhahran Mall partnered with Swaed Association for Physical Disability in the Eastern Province for a meaningful activation on Dec. 11. The event invited community members to experience wheelchair mobility firsthand, developing empathy and understanding. Persons with disabilities participated in a symbolic race from Gate 1 to Gate 3, joined by one of Saudi Arabia’s handball champions, reinforcing the message that sports and wellness unite everyone. Participants shared powerful reflections on accessibility and the importance of physical activity for all community members.

These initiatives embody what Dhahran Mall has always stood for: creating moments that resonate beyond the transaction, developing connections that endure, and serving as a cornerstone where every member of the community is welcomed and celebrated. Through programs that champion inclusivity, health, and social well-being, Dhahran Mall continues to demonstrate that meaningful engagement and authentic relationships are at the heart of everything it does.

Al-Tajdeed: Elevating guests’ experiences

This spirit of renewal and recommitment extends to Al-Tajdeed, Dhahran Mall’s comprehensive refresh initiative that began in December and will continue throughout 2026. Al-Tajdeed, meaning “renewal” in Arabic, honors the mall’s legacy while preparing for its future. This initiative will enhance guest experiences, elevate the aesthetic environment, and reinforce Dhahran Mall’s role as the Eastern Province’s premier destination for meaningful retail and lifestyle experiences. Looking ahead, the planned Dhahran Boulevard expansion will further enrich the mixed-use environment, creating new dimensions of hospitality, community, and connection.

“At Dhahran Mall, we believe that true success is measured in the memories we help create and the communities we serve,” said Majed Algothmi, acting CEO. “Our sponsorship of the Sharqiyah International Race and our partnership with Swaed Association reflect our unwavering commitment to inclusivity and community engagement. For nearly 20 years, families from all walks of life have trusted us with their celebrations, their everyday moments, and their special occasions. Al-Tajdeed is our promise to honor that trust by renewing our spaces while staying true to the values that have made Dhahran Mall a beloved institution in the Eastern Province.”

Since opening its doors in 2005, Dhahran Mall has been woven into the fabric of the Eastern Province. It has witnessed first steps in its corridors, celebrated countless Eid celebrations, hosted family traditions, and served as a backdrop for the everyday moments that define a community. Al-Tajdeed honors this rich legacy, built on genuine relationships and meaningful connections that span generations.

Dhahran Mall’s enduring strength lies in authentic connection. It’s the warmth of familiar spaces, the trust built over the years, and the understanding that a mall’s true value lives in how deeply it integrates into the lives of the people it serves. As the Eastern Province continues to grow and transform, Dhahran Mall remains committed to being the destination where community comes first, where memories are made, and where every visit feels like coming home.