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Saudi state fund plans stake in big industrial zone: source

The Public Investment Fund to inject capital into the King Abdullah Economic City near Jeddah

Published Mon, Sep 5, 2016 · 09:50 PM
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Dubai

SAUDI Arabia's top sovereign wealth fund is negotiating to buy a stake in one of the kingdom's most ambitious real estate projects as Riyadh restructures the economy to cope with low oil prices, a source familiar with the plan said.

The Public Investment Fund aims to invest in King Abdullah Economic City (KAEC) on the Red Sea coast near Jeddah, the source said.

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