Saudi Arabia's massive wealth fund sees $8 billion writedown in megaprojects

Saudi wealth fund loses $8 billion, but megaprojects continuing

Saudi Arabia's megaprojects appear to have taken a multi-billion-dollar hit, amid low oil prices, cost overruns, and investor uncertainty. The Public Investment Fund (PIF) slashed the value of its investments in massive domestic infrastructures by $8 billion, with its holdings in energy giant Saudi Aramco also suffering this year. Saudi Arabia's sovereign wealth fund, which oversees mega-projects such as NEOM, put the value of domestic infrastru…

Saudi Arabia's massive wealth fund sees $8 billion writedown in megaprojects

The PIF's assets under management climbed 19% from the end of 2023 to $913 billion, making it one of the largest sovereign wealth funds on the planet.

Saudi Wealth Fund Slashes $8 Billion in Megaproject Values Amid Oil Price Woes

The Saudi Private Investment Fund has written down $8 billion from the value of the Saudi state’s megaprojects over the past year as they struggle to move forward amid budget overruns combined with weaker oil prices. According to a Financial Times report that cited an unnamed source, Saudi Arabia’s sovereign wealth fund’s investments in projects, including the smart city Neom, at the end of 2024 were worth the equivalent of $56 billion. This was…

Saudi -Arabia PIF -Fonds sees $ 8 billion Writown in MegaProjects

Digital Render of Neom's The Line Project in Saudi -Arabia