The Saudi Public Investment Fund (PIF) is actively diversifying its investments across promising sectors and is strategically leveraging the Kingdom’s central location at the crossroads of three continents to establish itself as a global logistics hub.
The PIF is notably expanding its investment in transportation and logistics services, with recent efforts including exploratory discussions to acquire cargo planes from Boeing and Airbus, aiming to launch a new air freight company, according to Bloomberg.
Currently, the PIF’s investments in transportation and logistics are distributed among seven companies, all working diligently to support the Kingdom’s vision and achieve the national strategy for transport and logistics services. This strategy encompasses a range of major projects designed to meet both economic and social objectives.
PIF launched Riyadh Air last year as a new airline. Operating to global standards, the company aims to lead the industry by connecting travelers to over one hundred international destinations worldwide by 2030, offering exceptional service combined with authentic Saudi hospitality.
Riyadh Air recently secured numerous agreements and strategic partnerships with major industry players and finalized deals for acquiring a fleet of aircraft. These preparations are setting the stage for a strong launch of operations, scheduled to begin in 2025.
Rental services
In 2022, PIF launched AviLease, a company specializing in full-service commercial aircraft leasing. AviLease is committed to providing tailored solutions for partners through top-tier leasing, trading, and asset management services.
Since its inception, the company has seen significant growth with its advanced fleet of Airbus and Boeing aircraft and follows a disciplined investment strategy that balances strong financial performance with a sustainable positive impact on the national level.
Helicopters
The establishment of the Helicopter Company was aimed at addressing the increasing demand in the Kingdom for luxury tourism and air transportation services. This initiative aligns with PIF’s strategy to maximize sustainable returns and develop new sectors.
The company supports the efforts to achieve Vision 2030 and boost the tourism sector. It is also the first local operator of commercial helicopters in Saudi Arabia.
Land transport
The PIF also invests in the Saudi Public Transport Company SAPTCO, which was established in 1979. It is a land carrier that owns a fleet of over 8,000 vehicles of various types and specifications, equipped with the latest technology and vehicle tracking systems.
SAPTCO transports around 60 million passengers annually to various regions and countries and has achieved many accomplishments in the domestic and international transport sectors.
Marine vessels
In maritime services, the PIF holds a 22.55% stake in the Saudi National Shipping Company, Bahri, a global leader in logistics services and one of the prominent major shipping companies.
Bahri boasts a massive fleet of modern ships designed to the highest standards, enabling it to serve over 150 ports worldwide, establish a customer base both within and outside the Kingdom, and achieve a broad reputation for quality, reliability, and safety.
Cruise Saudi
The Saudi PIF has also ventured into the cruise market by launching Cruise Saudi, which is headquartered in Jeddah, on the Red Sea coast. The company aims to develop the necessary infrastructure and services to expand this market, in line with Vision 2030.
