Saudi Arabia’s PIF invests $200 million in Norway’s State Oil Company
April 9, 2020 (Saudi Arabia) Gulf Business has reported that Saudi Arabia’s sovereign wealth fund, the Public Investment Fund of Saudi Arabia (PIF), invested $200 million in Norway’s Equinor ASA amid the coronavirus pandemic and plummeting crude prices. The article further notes that the Equinor investment is a continuation of PIF’s active interest in European oil firms. PIF had also…
Saudi Arabia’s PIF invests in cruise operator Carnival
April 6, 2020 Reuters has reported that Saudi Arabia’s sovereign wealth fund, PIF, purchased an estimated 30% stake in cruise operator Carnival. The article further notes that the shares acquired by PIF are estimated to be valued at $369.3 million as of Friday's close, making PIF the second-largest investor in the world's most prominent cruise operator. Read the original article…
GCC UHNWIs population expected to boom by 2024
March 5, 2020 (Dubai) In an article published by Banker Middle East, Knight Frank, a leading global property advisory firm has said that according to its projections, the number of UHNWIs in the GCC is expected to grow by 26% to reach a total of 9,100 by 2024, given the expansion of wealth and strong growth in many asset classes…
ADIA and QIA eyeing investment in India-based real estate developers
March 2, 2020 (Singapore) A recent article on Deal Street Asia has reported that the Abu Dhabi Investment Authority (ADIA), Qatar Investment Authority (QIA), and Singapore-based GIC are in talks to invest approximately $400 million in Prestige Estates. The India-based real estate developer is said to be looking to monetize some of its retail mall and office assets before it…
UAE Islamic financial institution expands US real estate portfolio
March 1, 2020 (United Arab Emirates) The National has reported that Gulf Islamic Investments (GII) added New York office property to its $230 million real estate portfolio. Looking to grow their real estate portfolio further, GII is also eyeing opportunities in Paris as many companies are relocating from the UK in the aftermath of Brexit. The article also notes that…