The Public Investment Fund seeks to become one of the largest sovereign wealth funds in the world. To achieve this, the Fund is building a world-class, diversified portfolio through investments in attractive, long-term opportunities at both the domestic and international levels. In addition to making select investments in a range of companies and assets domestically and internationally, the Fund has contributed to the establishment of numerous Saudi Arabian companies, supporting innovation, diversification and non-oil sector development in the Kingdom.
The Red Sea Development Company was established in 2018 as a closed joint stock company wholly owned by the Public Investment Fund of Saudi Arabia to spearhead the development of The Red Sea Project, one of three giga-projects announced by HRH Crown Prince Mohammad bin Salman bin Abdulaziz Al-Saud in 2017.
