Saudi Arabia’s $1 trillion sovereign wealth fund and US-based I Square Capital have reached an agreement on a potential $2 billion partnership. The main goal of the agreement is to assist PIF in finding opportunities in district cooling and digital infrastructure.
In a global real estate market that is increasingly supported by efficiency and technology improvements, both have become essential elements. The deal’s specifics are still, at best, hazy, which makes sense given that the relationship has only recently been announced.
PIF did, however, reveal in a statement that I Squared intends to devote up to $1 billion to each industry, with the potential to expand into related and pertinent industries. The 2026–2030 strategic goals of the Saudi investing behemoth are closely matched with the cooperation between the US entity and PIF.
In an effort to increase foreign direct investment in the Kingdom, Saudi Arabia is stepping up its efforts.
Wide-ranging changes to the laws governing foreign property ownership were made, but they haven’t yet sparked the investment boom that the new policies were supposed to bring about.
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