The Saudi Public Investment Fund’s assets under management increased in 2024 to SAR 3.42 trillion, equivalent to approximately $913 billion, marking a 19% increase compared to the previous year, according to the fund’s annual report.
The report indicated that the fund has achieved a total shareholder return of 7.2% annually since 2017, while its revenues increased by 25% in 2024. The report confirmed that the fund continues to maintain liquidity levels and cash holdings without significant changes year-on-year, with significant progress in achieving the fund’s investment strategy targets, strengthening its position as one of the largest and fastest-growing sovereign wealth funds globally. According to the report, the Public Investment Fund’s contribution to the Kingdom’s non-oil GDP amounted to approximately SAR 910 billion ($242.5 billion) over the cumulative period from 2021 to 2024. In this context, Yasser bin Abdullah Al-Salman, Head of the General Department of Finance at the Fund, stated that 2024 saw SAR 213 billion ($56.76 billion) allocated to priority sectors, bringing the total investments directed to these sectors since 2021 to more than SAR 642 billion ($171.1 billion).
For her part, Maram Al-Jahni, Acting Chief Executive Officer and Secretary-General of the Fund’s Board of Directors, stated that the Fund contributed up to 10% of the Kingdom’s non-oil GDP during the period from 2021 to 2024, stressing that the Fund’s portfolio reflects the Kingdom’s economic diversification strategy, with the number of companies within the portfolio reaching 225 by the end of 2024, including 103 companies established directly by the Fund. The report indicated that the fund has moved towards digital leadership in its operations, integrating artificial intelligence and automation technologies into operations. During 2024, 58 digital projects were implemented, 15 new applications were launched, and more than 477 processes were automated. This contributes to enhancing cognitive and strategic capabilities and achieving added economic value.
The report also noted the fund’s efforts to diversify funding sources during the past year, with total public loans amounting to approximately 36.85 billion riyals ($9.82 billion), in addition to private loans worth approximately 26 billion riyals ($7 billion).
This performance reflects the Saudi Public Investment Fund’s continued role as a key catalyst for economic development, with a focus on strategic investments, economic diversification, and digital leadership.
