Saudi Arabia: PIF plans SR3.4tn assets by 2025, outlines 2026-2030 strategy
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Saudi Arabia’s Public Investment Fund (PIF) has approved a new strategy for 2026 to 2030, setting out plans to expand its economic role while targeting assets of more than SR3.4 trillion by the end of 2025.
Governor Yasir Al-Rumayyan said the fund invested about SR750 billion in the domestic economy between 2021 and 2025, accounting for nearly 70 per cent of its total spending during that period. The figures were announced during a government briefing following approval of the strategy by the PIF board, chaired by Crown Prince Mohammed bin Salman.
Al-Rumayyan said the fund has delivered annual shareholder returns exceeding 7 per cent since 2017, while also supporting national development goals.
He pointed to 2015 as a key point in the fund’s expansion, when it was linked to the Council of Economic and Development Affairs. Since then, PIF’s assets under management have increased six-fold and are expected to surpass SR3.4 trillion by the end of this year.
Between 2021 and 2024, the fund contributed about one-third of Saudi Arabia’s real non-oil GDP growth. Its direct share of the economy rose from 4 per cent to 10 per cent, while spending on local content reached SR207 billion in 2024, equal to 44 per cent of non-oil government revenue.
The new strategy shifts focus towards long-term economic impact through six main sectors. In tourism and leisure, the fund plans to develop 100,000 hotel rooms, introduce 70 tourism projects and prepare three stadiums for the 2034 World Cup.
Urban development plans include building 190,000 housing units, to raise home ownership among Saudi citizens to 70 per cent, including projects led by ROSHN.
In advanced industries, PIF aims to expand data centre capacity to 1,800 megawatts and support annual production of 285,000 vehicles by 2030.
Clean energy targets include reaching 44.5 gigawatts of renewable capacity. NEOM will continue as a separate focus area, with the next phase centred on developing Oxagon as an industrial and logistics hub.
Al-Rumayyan said the fund has also attracted more than SR75 billion in foreign investment into Saudi Arabia between 2021 and 2025 through partnerships with global asset managers.
To support its international operations, PIF has opened offices in Asia, Europe and the United States, along with regional branches in Egypt, Bahrain, Jordan and Oman.
He said the fund remains focused on governance and transparency, noting strong credit ratings from Moody’s, Fitch and S&P as indicators of its financial position.