• About Us
    • Overview
    • Board of Directors
    • Team Members
    • Careers & Internships
    • Contact Us
  • Membership
    • Member Directory
    • Member Benefits
    • Meet Our Members
    • Inquire Now
    • Apply Now
  • Services
  • Events
    • View All Events
    • USSBC Webinars
  • Reports
  • Resources
  • My Dashboard
  • Log In
USSBCUSSBC
  • About Us
    • Overview
    • Board of Directors
    • Team Members
    • Careers & Internships
    • Contact Us
  • Membership
    • Member Directory
    • Member Benefits
    • Meet Our Members
    • Inquire Now
    • Apply Now
  • Services
  • Events
    • View All Events
    • USSBC Webinars
  • Reports
  • Resources
  • My Dashboard
  • Log In

PIF Undertakes Multi-Billion Dollar Investments in Diversified Saudi Sectors

October 23, 2017 News Bulletin

 

The Public Investment Fund (PIF) invested $506 million (SR1.9 billion) to establish Super Esco, a new company that aims to increase energy efficiency across government and other public buildings. According to the announcement, Super Esco, in partnership with various ministries, will create new investment opportunities through partnerships with the private sector. The PIF also invested in the Saudi dairy and farm operator Almarai, becoming the third largest shareholder with a $2.4 billion (SR9 billion) stake. In line with Vision 2030 goals to improve performance of the real estate market, the PIF announced that it would set up a mortgage company, the Saudi Real Estate Refinance Company (SRC), with the objectives of serving as an intermediary access point for investors and injecting liquidity into the real estate market. Reportedly, SRC will refinance $20 billion (SR75 billion) in mortgages in five years and $45 billion (SR170 billion) by 2026. The company’s activities will also include issuance of mortgage-backed securities, acquisition of mortgage portfolios, and refinancing to increase home ownership.

Tags: ArabArabiaBusinessbusiness councilbusiness developmentDiversifiedeconomicGCCGulfKSAMENAmiddle eastSaudiSaudi ArabiaU.S.U.S. Saudi Arabian Business CouncilUSUS Saudi Arabian Business CouncilUSSABCvision 2030
Share
0

You also might be interested in

Aramco Launches Possibly Largest IPO in Financial Markets History

Aramco Launches Possibly Largest IPO in Financial Markets History

Nov 4, 2019

November 4, 2019 – Saudi Aramco launched its long-anticipated initial[...]

Cove Capital’s Strategic Investments: Supplying Critical Minerals for Saudi Arabia’s Vision 2030 Goals

Cove Capital’s Strategic Investments: Supplying Critical Minerals for Saudi Arabia’s Vision 2030 Goals

Jan 4, 2024

In this Member Spotlight, the U.S.-Saudi Business Council (USSBC) spoke[...]

Monthly Review: U.S.-Saudi Business Deals (July 2024)

Monthly Review: U.S.-Saudi Business Deals (July 2024)

Jul 31, 2024

The following is a summary of all announcements from the[...]

  • News & Media
    • Featured Articles
      • | All Articles
    • News Bulletins
      • | All Bulletins
    • Social Media
    • Press Releases
      • | Archived Press Releases
    • Resource Links
      • | Saudi Links
      • | U.S. Links
      • | Other Links

Contact Us

Please feel free to send us a quick message and we'll get back to you, as soon as possible!

Send Message

United States Office

U.S.-Saudi Business Council
8000 Towers Crescent Drive Suite: 1275
Box # 1729
Vienna, Virginia 22182

703-962-9300

info@ussaudi.org

Saudi Arabian Office

Riyadh, Olaya Towers, Tower B – 18th Floor Kingdom of Saudi Arabia

966-11-476-2697
966-11-474-2555
966-11-474-3555

ussaudibc@us-sabc.org

Follow USSBC

Stay informed on the latest trends, opportunities, and key developments in the U.S. and Saudi markets, including government reforms and trade insights.

SUBSCRIBE

© 2025 — U.S.-Saudi Arabian Business Council | Web Design by Advanced Technical Solutions

  • Home
  • Contact Us
  • Become a Member
  • Privacy Policy
Prev Next