{"id":106825,"date":"2026-07-01T13:19:05","date_gmt":"2026-07-01T10:19:05","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=106825"},"modified":"2026-07-01T13:19:06","modified_gmt":"2026-07-01T10:19:06","slug":"%d8%a7%d9%84%d9%85%d8%ad%d9%81%d8%b8%d8%a9-%d8%a7%d9%84%d8%b9%d9%82%d8%a7%d8%b1%d9%8a%d8%a9-%d9%84%d8%b5%d9%86%d8%af%d9%88%d9%82-%d8%a7%d9%84%d8%a7%d8%b3%d8%aa%d8%ab%d9%85%d8%a7%d8%b1%d8%a7%d8%aa","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/106825\/","title":{"rendered":"The Public Investment Fund's real estate portfolio is expected to exceed 300 billion riyals by 2025"},"content":{"rendered":"<p class=\"wp-block-paragraph\">The consolidated financial statements showed <strong><a href=\"https:\/\/www.pif.gov.sa\/ar\/\">For the Public Investment Fund <\/a><\/strong>The book value of investment properties rose to 80.49 billion riyals by the end of 2025, compared with 65.47 billion riyals in 2024, marking a year-over-year growth rate of 23%.<br>The portfolio is divided between land valued at 29.77 billion riyals, properties valued at 33.97 billion riyals, and real estate projects under development valued at 16.75 billion riyals, reflecting the diversity of assets between existing properties generating operating income and others being developed to drive future growth.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Market capitalization exceeds 300 billion riyals<\/strong><br>The financial statements highlight the significant difference between the book value and the fair value of the real estate portfolio, with the fair value of investment properties reaching approximately 300.81 billion riyals by the end of 2025, compared to 250.82 billion riyals in the previous year\u2014an increase of nearly 50 billion riyals in a single year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As a result, the portfolio\u2019s market value exceeds its book value by more than 220 billion riyals, reflecting the significant economic value of real estate assets, particularly land located in strategic areas where major development projects are underway.<br>Land accounts for the largest share of the portfolio\u2019s fair value, at 234.38 billion riyals, compared with 45.40 billion riyals for buildings and 21.03 billion riyals <strong><a href=\"https:\/\/amlak.net.sa\/en\/1665\/\">For Real Estate Projects <\/a><\/strong>Under development, which confirms that the land serves as the foundation for long-term urban, tourism, and economic projects.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Diversification of Real Estate Investment Strategy<\/strong><br>The financial disclosures reveal the diversity of the fund's strategy in managing<strong><a href=\"https:\/\/amlak.net.sa\/en\/106684\/\"> Real Estate Assets<\/a><\/strong>The value of real estate held to generate rental income amounted to approximately 46 billion riyals, while the value of real estate held to generate capital gains reached 10.9 billion riyals. The fund also owns real estate valued at 23.5 billion riyals for which the final use has not yet been determined; it is expected to be utilized in future development projects, providing the fund with flexibility in balancing the generation of current revenue with capitalizing on future increases in asset values.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Rise in Real Estate Revenue<\/strong><br>The performance of the real estate portfolio is not limited to asset value growth but also extends to generating increasing operating revenues. Direct revenues from real estate activities reached approximately 5.72 billion riyals in 2025.<br>Rental income from investment properties also rose to 2.96 billion riyals, compared with 2.20 billion riyals in 2024, marking growth of approximately 35%.<br>In contrast, the cost of sales of land and real estate units totaled approximately 2.07 billion riyals, reflecting the Fund\u2019s diversified activities, which include development, sales, leasing, and real estate asset management.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Expansion of Development Projects<\/strong><br>In addition to investment properties, the fund continued to increase its investments in development projects, with the value of properties under development classified as inventory rising to 17.57 billion riyals by the end of 2025, compared to 9.57 billion riyals the previous year.<br>The value of completed development properties also reached approximately 6.1 billion riyals, reflecting the accelerated pace of project implementation and the conversion of land into real estate, tourism, and investment products that represent future sources of income.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>A real estate portfolio worth more than 300 billion riyals<\/strong><br>Although the fair value of the real estate portfolio exceeded 300 billion riyals, the financial statements indicated that this figure does not include all of the strategic land parcels owned by the fund.<br>She noted that the fair value of some land parcels included in major national projects\u2014most notably Neom, the Red Sea, and Qiddiya\u2014has not been reliably assessed, given their vast size and the phased nature of their development.<br>These projects include the NEOM project, which covers an area of approximately 26,387 square kilometers, the Red Sea Project, which covers an area of approximately 37,493 square kilometers, and the Qiddiya Project, which covers an area of approximately 367 square kilometers.<br>This means that the true economic value of real estate assets may exceed the reported figures as development progresses and the end uses of these properties become clear.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Companies Leading Urban Transformation<\/strong><br>The Public Investment Fund continues to strengthen its presence in the real estate development market through an extensive network of subsidiaries.<br>During 2025, the fund increased its stake in Emaar Economic City to 55.55%, making it a subsidiary, and retained its majority stake of 64.58% in Saudi Real Estate Company.<br>The fund wholly owns a number of the Kingdom\u2019s largest real estate development companies, including NEOM, Red Sea Global, Al-Qiddiya Investment Company, Roshen Group, Al-Dir\u2019iya Company, Downtown Jeddah Development Company, New Square Development Company, King Abdullah Financial District Management and Development Company, and Al-Soudah Development Company.<br>It also continues to diversify its real estate investments outside the Kingdom by owning a number of real estate companies in the United States.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Flexible Financial Management<\/strong><br>As part of the portfolio\u2019s financial management, the fund recorded impairment losses of 20.72 billion riyals during the year under the \u201cProperty, Plant, and Equipment\u201d line item for the hospitality and real estate sector\u2019s cash-generating unit.<br>Conversely, the fund used investment properties with a book value of 4.18 billion riyals as collateral to secure long-term Islamic financing, reflecting the use of assets to enhance financial flexibility.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading time: <\/span> <span class=\"rt-time\"> 3<\/span> <span class=\"rt-label rt-postfix\">Minutes<\/span><\/span>The Public Investment Fund\u2019s consolidated financial statements showed that the book value of investment properties rose to 80.49 billion riyals by the end of 2025, compared to 65.47 billion riyals in 2024, marking an annual growth rate of 23%.The portfolio is divided between land valued at 29.77 billion riyals, buildings valued at 33.97 billion riyals, and real estate projects under development valued at 16.75 billion riyals, \u2026 <a title=\"The Public Investment Fund&#039;s real estate portfolio is expected to exceed 300 billion riyals by 2025\" class=\"read-more\" href=\"https:\/\/amlak.net.sa\/en\/106825\/\" aria-label=\"Read more about the Public Investment Fund\u2019s real estate portfolio exceeding 300 billion riyals in 2025\">Read more<\/a><\/p>","protected":false},"author":27,"featured_media":17296,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"amlak_video_sent":"","footnotes":""},"categories":[107],"tags":[],"class_list":["post-106825","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-funds-reits"],"acf":{"amlak_post_excerpt":"\u0627\u0644\u0642\u064a\u0645\u0629 \u0627\u0644\u0639\u0627\u062f\u0644\u0629 \u0644\u0645\u062d\u0641\u0638\u0629 \u0627\u0644\u0639\u0642\u0627\u0631\u0627\u062a \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631\u064a\u0629 \u0644\u0644\u0635\u0646\u062f\u0648\u0642 \u062a\u0631\u062a\u0641\u0639 \u0625\u0644\u0649 300.8 \u0645\u0644\u064a\u0627\u0631 \u0631\u064a\u0627\u0644 \u0641\u064a 2025 \u0628\u0646\u0645\u0648 \u0633\u0646\u0648\u064a \u064a\u0642\u0627\u0631\u0628 20%","amlak_post_excerpt_source":{"label":"Amlak post excerpt","type":"text","formatted_value":"\u0627\u0644\u0642\u064a\u0645\u0629 \u0627\u0644\u0639\u0627\u062f\u0644\u0629 \u0644\u0645\u062d\u0641\u0638\u0629 \u0627\u0644\u0639\u0642\u0627\u0631\u0627\u062a \u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631\u064a\u0629 \u0644\u0644\u0635\u0646\u062f\u0648\u0642 \u062a\u0631\u062a\u0641\u0639 \u0625\u0644\u0649 300.8 \u0645\u0644\u064a\u0627\u0631 \u0631\u064a\u0627\u0644 \u0641\u064a 2025 \u0628\u0646\u0645\u0648 \u0633\u0646\u0648\u064a \u064a\u0642\u0627\u0631\u0628 20%"}},"featured_image_urls":{"full":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2017\/09\/\u0634\u0639\u0627\u0631-\u0635\u0646\u062f\u0648\u0642-\u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631\u0627\u062a-\u0627\u0644\u0639\u0627\u0645\u0629.jpg",1280,1277,false],"thumbnail":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2017\/09\/\u0634\u0639\u0627\u0631-\u0635\u0646\u062f\u0648\u0642-\u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631\u0627\u062a-\u0627\u0644\u0639\u0627\u0645\u0629-150x150.jpg",150,150,true],"medium":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2017\/09\/\u0634\u0639\u0627\u0631-\u0635\u0646\u062f\u0648\u0642-\u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631\u0627\u062a-\u0627\u0644\u0639\u0627\u0645\u0629-300x300.jpg",300,300,true],"medium_large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2017\/09\/\u0634\u0639\u0627\u0631-\u0635\u0646\u062f\u0648\u0642-\u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631\u0627\u062a-\u0627\u0644\u0639\u0627\u0645\u0629-768x766.jpg",768,766,true],"large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2017\/09\/\u0634\u0639\u0627\u0631-\u0635\u0646\u062f\u0648\u0642-\u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631\u0627\u062a-\u0627\u0644\u0639\u0627\u0645\u0629-1024x1022.jpg",1024,1022,true],"1536x1536":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2017\/09\/\u0634\u0639\u0627\u0631-\u0635\u0646\u062f\u0648\u0642-\u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631\u0627\u062a-\u0627\u0644\u0639\u0627\u0645\u0629.jpg",1280,1277,false],"2048x2048":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2017\/09\/\u0634\u0639\u0627\u0631-\u0635\u0646\u062f\u0648\u0642-\u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631\u0627\u062a-\u0627\u0644\u0639\u0627\u0645\u0629.jpg",1280,1277,false],"trp-custom-language-flag":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2017\/09\/\u0634\u0639\u0627\u0631-\u0635\u0646\u062f\u0648\u0642-\u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631\u0627\u062a-\u0627\u0644\u0639\u0627\u0645\u0629.jpg",12,12,false],"event-thumbnail":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2017\/09\/\u0634\u0639\u0627\u0631-\u0635\u0646\u062f\u0648\u0642-\u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631\u0627\u062a-\u0627\u0644\u0639\u0627\u0645\u0629-300x200.jpg",300,200,true],"event-medium":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2017\/09\/\u0634\u0639\u0627\u0631-\u0635\u0646\u062f\u0648\u0642-\u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631\u0627\u062a-\u0627\u0644\u0639\u0627\u0645\u0629-600x400.jpg",600,400,true],"event-large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2017\/09\/\u0634\u0639\u0627\u0631-\u0635\u0646\u062f\u0648\u0642-\u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631\u0627\u062a-\u0627\u0644\u0639\u0627\u0645\u0629-1200x800.jpg",1200,800,true],"event-hero":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2017\/09\/\u0634\u0639\u0627\u0631-\u0635\u0646\u062f\u0648\u0642-\u0627\u0644\u0627\u0633\u062a\u062b\u0645\u0627\u0631\u0627\u062a-\u0627\u0644\u0639\u0627\u0645\u0629-1280x1080.jpg",1280,1080,true]},"author_info":{"info":["\u0623\u0645\u0644\u0627\u0643 \u0627\u0644\u0639\u0642\u0627\u0631\u064a\u0629"]},"category_info":"<a href=\"https:\/\/amlak.net.sa\/en\/category\/finance-investment\/funds-reits\/\" rel=\"category tag\">\u0635\u0646\u0627\u062f\u064a\u0642 \u0648\u0631\u064a\u062a\u0633<\/a>","tag_info":"\u0635\u0646\u0627\u062f\u064a\u0642 \u0648\u0631\u064a\u062a\u0633","comment_count":"0","_links":{"self":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/106825","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/comments?post=106825"}],"version-history":[{"count":4,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/106825\/revisions"}],"predecessor-version":[{"id":106864,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/106825\/revisions\/106864"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media\/17296"}],"wp:attachment":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media?parent=106825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/categories?post=106825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/tags?post=106825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}