With schemes such as Neom, Amaala, and Qiddiya, Crown Prince HRH Mohammed Bin Salman, also known as MBS, has driven Saudi Arabia’s sovereign wealth vehicle, Public Investment Fund (PIF), to new heights in 2018, but what comes next for one of the most powerful investment houses in the Gulf?
Construction Week's video on PIF investments in 2018 will be published at 9am Dubai time on 18 December, 2018. Click on the video below to set a YouTube reminder for yourself and to receive an early notification to watch the report:
As Saudi Arabia drives forward with its Vision 2030 economic diversification mandate, it is important to understand the role played by the Crown Prince, as chairman of PIF, towards achieving these goals.
The centrepiece of PIF’s work in 2018 has undoubtedly been Neom, the mega city that was launched at the Future Investment Initiative conference held in Riyadh in 2017. At the second iteration of the conference in October 2018, Neom’s team revealed that the $500-billion (SAR $1.9 trillion) project’s construction was progressing as planned.
Not far behind are the Amaala and Qiddiya gigaprojects, both aimed at attracting millions of riyals through tourism in Saudi Arabia, and PIF is leading both these programmes.
In this video, Neha Bhatia and Oscar Rousseau, editor and deputy editor of Construction Week, explore the achievements recorded by Saudi Arabia's PIF in 2018.
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