Economic
Saudi Investment Fund Assets Reach 3.47 Trillion Riyals
Sudan Events – Agencies
The Saudi Public Investment Fund (PIF) has achieved a 21% growth in total assets compared to the end of 2023.
According to the annual report released on Monday, the total assets under management by the Public Investment Fund currently stand at 3.47 trillion riyals, up from 2.87 trillion riyals at the end of 2023.
The fund is nearing its target of reaching 4 trillion riyals in assets under management by the end of 2025, noting that the baseline for these figures was 1.5 trillion riyals recorded in 2020.
According to the fund’s report, by the end of 2023, the net cash return from both the promising sector development investment portfolio and the investment portfolio in Saudi companies amounted to 42 billion riyals, nearly double the set target of 20 billion riyals.
The size of the assets in the real estate investments and infrastructure development projects portfolio grew by 15% compared to the end of 2022, reaching 233 billion riyals.
The total size of assets in the international investment portfolio reached 586 billion riyals, growing by more than 14% compared to the previous year.
It is worth mentioning that the Saudi Public Investment Fund (PIF) achieved more than a 100% growth in total revenue during 2023, jumping to 331 billion riyals ($88.5 billion), up from 165 billion riyals ($44 billion) in 2022.