Saudi PIF investing $400 mln in augmented reality startup Magic Leap

Thursday, 8 March 2018

Saudi Arabia’s Public Investment Fund (PIF) announced that it has participated in the Series D equity funding by Magic Leap, Inc. (Magic Leap), investing $400 million, joining a number of prominent global investors in the company.Magic Leap is developing world-leading technologies around head-mounted virtual retinal displays and expected to launch its first generation product in 2018.This investment forms part of PIF’s International Investments and is in line with PIF’s ...

Saudi Public Investment Fund to launch ‘Rou’a Al Madinah’ Company

Monday, 2 October 2017

Saudi Arabia’s Public Investment Fund (PIF) has announced the establishment of the “Rou’a Al Madinah” company, which will deliver projects designed to increase capacity for pilgrims and visitors to the Prophet’s Mosque, while also enriching spiritual and cultural experiences across the holy city of Al Madinah.The company’s establishment is in line with Saudi Arabia’s Vision 2030, which aims to provide an opportunity for the largest possible number of ...

SAR 18 billion facelift for downtown Jeddah planned

Wednesday, 27 September 2017

The Saudi Public Investment Fund has announced it will lead the renovation of Jeddah’s waterfront walkway - creating a residential, touristic and commercial hub, to become the “New Jeddah Downtown.” The project, which will contribute SAR 18 billion of investment over 10 years as well as 36,000 new jobs, aims to create a distinctive and attractive environment to support Jeddah’s ambition of becoming one of the world’s top 100 cities. The project will include spaces ...

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