Saudi Arabia is preparing to shift its $925 billion sovereign wealth fund away from a focus on real estate gigaprojects that have dominated its development goals for the last decade, according to a source with direct knowledge of the plans.
Crown Prince Mohammed bin Salman, the de facto ruler of Saudi Arabia also known as MBS, introduced his Vision 2030 plan in 2016 to transform the economy with a focus on large real-state projects.
The sovereign fund, Public Investment Fund (PIF), has been the driving force for financing the plan.
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