Saudi PIF Agrees with Oman’s Rakiza on Investment worth $299 Million

Saudi Public Investments injects $299 million with the Omani Rakeza Fund for Infrastructures (Asharq Al-Awsat)
Saudi Public Investments injects $299 million with the Omani Rakeza Fund for Infrastructures (Asharq Al-Awsat)
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Saudi PIF Agrees with Oman’s Rakiza on Investment worth $299 Million

Saudi Public Investments injects $299 million with the Omani Rakeza Fund for Infrastructures (Asharq Al-Awsat)
Saudi Public Investments injects $299 million with the Omani Rakeza Fund for Infrastructures (Asharq Al-Awsat)

Oman’s Rakiza announced that it received a capital commitment of $299 million from the Saudi Public Investment Fund (PIF).

Rakiza is a private equity infrastructure fund co-managed by Oman Infrastructure Investment Management (OIM) and Equitix.

The fund Rakiza invests in Oman and Saudi Arabia and invests in various sectors, namely renewables, power and water, social infrastructure, telecommunications, transport, and logistics.

CEO of OIM Muneer al-Muneeri said that the partnership with PIF, one of the most significant sovereign wealth funds in the world, comes within the framework of sharing the national visions of Oman and Saudi Arabia about supporting the privatization of facilities and infrastructure, which is a crucial factor for the success of the investment strategy.

“Rakiza’s investment strategy fosters capital market growth, foreign direct investment, and privatization. As part of this, the Rakiza Fund is proud to partner with PIF, which greatly enhances strategic value for all stakeholders,” said Muneeri.

The CEO and co-founder of Equitix, Hugh Crossley, explained that the partnership with the world’s most prominent investment institution contributes to achieving Rakiza Fund’s commitments to develop infrastructure projects.

“It is a great addition and development in Rakiza Fund’s history, looking forward to further regional growth.”



Saudi Arabia Expands Homeownership Eligibility in Government Housing Projects

A project by the Saudi Ministry of Rural Affairs and Housing. (Asharq Al-Awsat)
A project by the Saudi Ministry of Rural Affairs and Housing. (Asharq Al-Awsat)
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Saudi Arabia Expands Homeownership Eligibility in Government Housing Projects

A project by the Saudi Ministry of Rural Affairs and Housing. (Asharq Al-Awsat)
A project by the Saudi Ministry of Rural Affairs and Housing. (Asharq Al-Awsat)

Saudi Arabia’s Cabinet has approved a new decision allowing the Ministry of Municipal and Rural Affairs and Housing to sell residential units within its housing projects to individuals who are not beneficiaries of government housing support. Real estate experts view the move as a strategic shift that boosts the flexibility of public asset management and maximizes the use of available housing stock.

The decision is expected to boost supply, improve market balance, and promote sustainability in the housing sector.

According to Abdulrahman Al-Tawil, Deputy Minister for Residential Supply Stimulus and Real Estate Development, the decision aims to broaden access to homeownership by including new population segments. Families and individuals who do not qualify for housing support will now be able to purchase units or relocate between homes in new suburban developments overseen by the ministry.

Single individuals and those who previously received loans from the Real Estate Development Fund will be eligible to buy homes in projects launched within the past two years. However, non-beneficiaries will purchase units at market rates, while support recipients will continue to receive financial assistance.

Al-Tawil emphasized that each project will initially offer a four-month window of exclusive sales to support beneficiaries before opening to the wider public.

The move is also designed to align housing supply with urban demand. Al-Tawil cited over 100,000 housing units currently available in Riyadh, offering a range of ownership options that address diverse needs.

Real estate appraiser Eng. Ahmed Al-Faqih believes the decision will have a significant impact on the market by strengthening housing supply and supporting price stability.

The entry of the National Housing Company into the private market adds a new, competitive dynamic that developers must consider when pricing their products, he told Asharq Al-Awsat.

This competition, he said, will not only influence pricing but also encourage developers to prioritize quality—an essential goal of Saudi Arabia’s Vision 2030.

Real estate expert Saqr Al-Zahrani also praised the decision. Speaking to Asharq Al-Awsat, he said it addresses the issue of unsold inventory and offers homeownership opportunities to underserved citizens. He highlighted its potential to generate non-oil revenue and support long-term project sustainability without compromising the priority status of current beneficiaries.

Expanding ownership eligibility could help close gaps in the real estate market, especially in cities where ownership remains low, he added, while expecting the decision to encourage innovation in housing development and financing, further stimulating competition between public and private sectors.

On the issue of housing inflation, Al-Zahrani noted that increasing actual supply will reduce speculative activity and promote more disciplined pricing. This is especially critical for middle-income buyers who face volatility in the current market.

Effective implementation of the policy, supported by clear regulations and transparency, will be vital to achieving its intended outcomes, he remarked.