Institutional Investors completed the acquisition of a 3.3% stake in MASAR from PIF for $253m.

Institutional Investors completed the acquisition of a 3.3% stake in MASAR, a real estate company, from PIF, a public investment fund, for $253m. “By creating opportunities for institutions to invest in MASAR, PIF is further broadening the company’s investor base. The offering aligns with PIF’s investment strategy, which focuses on deploying capital and income into the domestic PIF ecosystem, to further strengthen Saudi Arabia’s private sector and deepen Saudi capital markets. This mandate allows PIF to continue to drive the sustainable development and diversification of the country’s economy,” Saad Alkroud, PIF Head of the Local Real Estate Investment Division.