Saudi Arabia’s Public Investment Fund (PIF) has exceeded $1 trillion in assets, but its strategy is evolving from rapid expansion to disciplined, sustainable growth. According to Global SWF, the sovereign wealth fund’s assets surged 18 percent in 2024 to SR4.32 trillion ($1.15 trillion). Yet despite a 25 percent jump in revenues to SR413 billion, net profit fell 60 percent to SR26 billion due to rising rates, impairments, and project delays.
PIF is now prioritizing solvency, performance, and mature assets, pivoting away from sheer scale. Strategic shifts include tighter management, increased use of sukuk and commercial paper, and a renewed focus on resilient holdings—like Uber overtaking Lucid in its U.S. portfolio. AviLease profits soared 350 percent.
PIF’s geopolitical role has also expanded, securing partnerships with BlackRock, Goldman Sachs, and key nations including China and India. India’s proposed tax breaks could unlock over $100 billion in PIF-led investments.
Globally, PIF’s governance earned a perfect 100% score from Global SWF in 2025, ranking it the highest in EMEA. Its 100-year green bond and the launch of HUMAIN, a national AI firm, highlight PIF’s ESG and digital ambitions.
Meanwhile, foreign direct investment inflows rose 24 percent year-on-year to SR24 billion in Q1 2025, underscoring Saudi Arabia’s investment momentum—even as major projects like NEOM’s “The Line” scale back to realistic targets.