PIF's AUM rise to SAR 3.53T in 2024
The Public Investment Fund (PIF) had assets under management (AUMs) worth approximately SAR 3.53 trillion in 2024, compared to nearly SAR 2.87 trillion a year earlier.
The fund has embarked on an ambitious transformational journey, significantly strengthening its impact at both the local and global levels. This was achieved by expanding investments across high-potential sectors, establishing new companies, and attracting global capital. As a result, the Fund's assets under management have grown at an accelerated pace, driving the creation of numerous direct and indirect employment opportunities through the establishment of companies in various strategic sectors.
According to the Saudi Vision 2030 Annual Report for 2024, PIF has exceeded its 2024 target, surpassing the originally set goal of SAR 3.30 trillion in assets under management.
PIF's AUM (SAR tln)
Year
AUM
2018
0.97
2019
1.20
2020
1.54
2021
1.98
2022
2.23
2023
2.87
2024
3.53
The PIF and its companies contributed to the creation of 1.1 million direct and indirect job opportunities by the end of 2024. Additionally, it established 93 companies across 13 strategic sectors in which it invests.
More than 200 opportunities were offered through the Private Sector, with a total value exceeding SAR 40 billion.
Over 300 Saudi companies were qualified through the PIF's Pre-Qualification Program (PQP) to work with the fund's portfolio companies. In addition, more than 200 small and medium-sized enterprises (SMEs) benefited from training and qualification programs to enable them to collaborate with the Fund's companies.
The private sector's contribution to the gross domestic product (GDP) reached 47% by the third quarter of 2024, surpassing the 2024 target of 46%. This increase is attributed to several factors, including the role of the PIF in stimulating private investment.
The fund and its portfolio companies also made significant contributions to developing and supporting local content by engaging the private sector across all stages of project implementation.
PIF and its portfolio companies are expected to achieve a local content contribution of 48% in 2024, with projections indicating it will rise to 60% in 2025.
*Forecasts
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