Milestones with a human perspective.
The projects, partnerships and people moving Saudi business forward.
Riyadh Air receives its first Boeing Dreamliners in fleet milestone ↗Riyadh Air receives its first Boeing Dreamliners in fleet milestone
PIF reported on 9 June 2026 that Riyadh Air had received its first three Boeing 787-9 Dreamliners. The aircraft arrived on 5 and 7 June and represent the beginning of a planned Dreamliner fleet of 72.
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Original summaries curated from official company announcements. Source dates, publisher links and image credits accompany every story.
Riyadh Air receives its first Boeing Dreamliners in fleet milestone
PIF reported on 9 June 2026 that Riyadh Air had received its first three Boeing 787-9 Dreamliners. The aircraft arrived on 5 and 7 June and represent the beginning of a planned Dreamliner fleet of 72.
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ASFAR opens Gamra Mountain Resort in Al Baha
PIF-owned ASFAR inaugurated Gamra Mountain Resort in Al Baha, according to an announcement dated 20 September 2026. The destination occupies more than 21,000 square metres and includes 30 mountain-inspired rooms and suites.
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CEER reveals EXOBOT electric vehicles as Saudi automotive plans advance
CEER’s flagship EXOBOT electric sedan and SUV were revealed on 21 September 2026, according to PIF’s newswire. The vehicles form part of Saudi Arabia’s effort to develop a domestic automotive industry and a wider manufacturing supply chain.
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PIF signs cooperation agreements with IFC and MIGA worth up to $9.5 billion
PIF announced two memoranda of understanding with World Bank Group institutions IFC and MIGA on 24 July 2026. The agreements cover potential cooperation totaling up to $9.5 billion.
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PIF and US EXIM establish export credit cooperation framework
PIF and the Export Import Bank of the United States announced a memorandum of understanding on 24 July 2026. The framework provides for exploring up to $15 billion in long-term financing for eligible PIF portfolio companies procuring US goods and services.
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Brookfield reaches first close on PIF anchored Middle East fund
Brookfield announced approximately $2 billion at the first close of Brookfield Middle East Partners on 27 July 2026. PIF is an anchor investor in the private equity fund, alongside other global and regional institutional partners.
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PIF and Formula E expand digital STEM learning through Driving Force
PIF and Formula E announced an expanded online learning platform for Driving Force on 14 August 2026. The initiative combines science, technology, engineering and mathematics with sustainability and electric mobility content for young people.
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PIF reports stronger revenue and profit in its 2025 annual results
PIF published its 2025 annual report on 17 August 2026, reporting revenue of $120 billion, up 9 percent, and net profit of $17 billion, more than double the previous year. Assets under management exceeded $900 billion.
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PIF introduces Gulf Coast Development Company for Al Khafji destination
PIF announced Gulf Coast Development Company on 7 September 2026 to develop a coastal residential and tourism destination in Al Khafji. The project is planned to cover around 20 square kilometres, including a waterfront extending approximately 10 kilometres.
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PIF launches Tawrid to strengthen Saudi supply chain financing
PIF announced Tawrid Company for Financing Solutions on 20 September 2026. The digital platform is designed to connect buyers, suppliers and funders, with products intended to support working capital and liquidity management in Saudi Arabia.
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Desert Rock: design and hospitality earn global recognition
Red Sea Global reported Three MICHELIN Keys for Desert Rock and the 2026 Architecture & Design Award. Shebara retained Two Keys.
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The Red Sea Hospital: care becomes part of destination readiness
Red Sea Global and Dr. Sulaiman Al Habib Medical Group inaugurated a hospital serving employees, residents, communities and guests.
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AMAALA Yacht Club: a new chapter for Saudi marine tourism
The club began operations at AMAALA Marina Village, bringing marine services and hospitality together on the Saudi Red Sea.
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Aramco and Pasqal: building quantum capability in Dhahran
The partners inaugurated a quantum computer and a cloud access platform, with training and research supporting Saudi technical expertise.
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Four Seasons at Shura: partnership becomes an operating destination
RSG announced that its first joint venture-developed resort would welcome guests from 20 May 2026, alongside Kingdom Holding Company.
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Samref: partners explore the next phase of an industrial venture
A framework agreement sets out evaluation of a potential Yanbu refinery upgrade and petrochemical expansion, subject to approvals and investment decisions.
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Riyadh Air: an aircraft order supports the next stage of growth
Airbus announced a firm order for 25 A350-1000 aircraft at the Paris Air Show. The accompanying image is an Airbus rendering.
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Red Sea Global and Oracle: digital skills for Saudi talent
A March 2025 initiative aimed to train 5,000 Saudi nationals through Oracle’s Mostaqbali platform, connecting digital capability with hospitality.
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