Riyadh – Sharikat Mubasher: Saudi Arabia’s Public Investment Fund (PIF) plans to double its investments in Europe to $170 billion, according to Governor Yasir Al-Rumayyan. The fund has already committed $85 billion to the region since 2017.

As reported by Asharq Business, Al-Rumayyan emphasized Europe’s strategic importance during the Future Investment Initiative (FII) Priority Summit held in Tirana, Albania, highlighting regulatory clarity as a key driver for long-term investment.

As part of its growing European portfolio, the PIF acquired a 15% stake in FGP TopCo, the holding company of Heathrow Airport, last December. The fund has also contributed significantly to the region’s economy, with its current impact on Europe’s GDP estimated at $52 billion—a figure expected to double within five years.

The PIF has created approximately 254,000 direct and indirect jobs in Europe and is viewed as a rising force in international dealmaking, particularly beyond the United States, which has traditionally been a focal point.

On a separate note, Al-Rumayyan addressed board members at a PIF governance forum in Riyadh, stressing the importance of clear boundaries between governance and execution to foster creativity and ensure accountability. The fund, with assets of SAR 3.53 trillion, invests around SAR 150 billion annually in Saudi Arabia and has launched over 103 companies since 2017.