The Fund’s complete revenues surged by 25 per cent, reaching SR413bn ($110bn) in comparison with SR331bn ($88.3bn) within the earlier 12 months, in keeping with its newly launched annual efficiency abstract.
The expansion was largely pushed by sturdy earnings from main portfolio firms together with Savvy Video games Group, Ma’aden, STC, NCB, AviLease, and Gulf Worldwide Financial institution, together with dividends from Aramco and rising returns from new and maturing investments.
Saudi PIF monetary highlights 2024
- Whole property: SR4.32tn ($1.15tn), up 18 per cent
- Whole revenues: SR413bn ($110bn), up 25 per cent
- Web revenue: SR26bn ($6.93bn)
- Money reserves: SR316bn ($84.2bn)
- Debt: SR570bn ($151.8bn)
- Debt-to-asset ratio: 13 per cent
Regardless of headwinds corresponding to world inflation, rate of interest hikes, and minor impairment losses (lower than 2 per cent of complete property), PIF maintained sturdy liquidity and a steady debt profile, reflecting resilient monetary administration and diversified income streams.
The Fund additionally highlighted its profitable efforts to diversify funding sources, finishing a number of main financing transactions in 2024, together with a $2bn Sukuk issuance, £650m ($820m) debut bond in GBP and $15bn revolving credit score facility refinancing.
These strikes sign sturdy investor confidence in PIF’s creditworthiness and long-term technique.
PIF continues to play a central position in Saudi Arabia’s Imaginative and prescient 2030, with important progress throughout core sectors:
- Tourism and Hospitality: Openings of The St. Regis Pink Sea Resort, Nujuma Resort, and Ritz-Carlton Reserve and the launch of Adeera, a Saudi resort administration model
- Tradition and Heritage: Growth of latest cultural districts in Diriyah, reinforcing Saudi Arabia’s heritage tourism efforts
- Housing: Launch of a number of branded residential communities according to rising home demand
PIF famous that its ecosystem of firms is producing sturdy retained earnings and stays dedicated to launching new investments to assist financial diversification and long-term development.
