KSA This Week: PIF's $120bn Year, Diriyah's $533m Deal, and 70% Saudisation for Project Managers
This week from the Kingdom: the Public Investment Fund reported 2025 revenue of $120 billion, up 9 percent, as net profit more than doubled to $17 billion and assets topped $900 billion. Diriyah Company signed SR2 billion ($533 million) in financing with Arab National Bank for hotel-branded residences, and the Ministry of Human Resources set a 70 percent Saudisation rate for project-management professions from February 2027. Saudi construction activity expanded for a third straight month in July, industrial output rebounded 4.3 percent in June, ADES resumed all its suspended Saudi offshore rigs, and the central bank's US equity portfolio jumped 61 percent to $7.63 billion. Here is what matters for employers and businesses in Saudi Arabia.
Investments
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$120bn PIF's 2025 revenue, up 9%, as net profit more than doubled to $17bn |
Saudi Arabia's Public Investment Fund (PIF) reported 2025 revenue of $120 billion, up 9 percent year on year, while net profit more than doubled to $17 billion, helped by contributions from maturing portfolio companies. Assets under management exceeded $900 billion at the end of the year, up from about $530 billion in 2021 and $150 billion in 2015.
As one of the world's largest sovereign wealth funds and the engine of Vision 2030, PIF finances many of the Kingdom's flagship companies and giga-projects, and the jobs they create. The results underline the fund's growing role in diversifying the economy and drawing international co-investors.
Stronger PIF earnings support continued investment across sectors — and the hiring that follows.
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The TASC Take When the Kingdom's largest investor grows this fast, hiring follows across its portfolio companies and projects. Giving employers fast, compliant access to talent — through staffing, payroll and EOR — is exactly where TASC adds value. |
Source: Arab News
Projects & Real Estate
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$533m Diriyah's new financing (SR2bn) with Arab National Bank for hotel-branded residences |
Diriyah Company, one of Saudi Arabia's flagship giga-project developers, signed a SR2 billion ($533 million) financing agreement with Arab National Bank to develop hotel-branded residences in Diriyah and Wadi Safar.
The deal supports Diriyah's push to deliver luxury residential and hospitality assets around the historic At-Turaif district near Riyadh, part of a wider programme with billions of dollars of projects in the pipeline. Diriyah is backed by the Public Investment Fund and is a centrepiece of the Kingdom's tourism and cultural ambitions under Vision 2030.
Giga-project financing like this keeps construction and hospitality mobilisation — and hiring — flowing.
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The TASC Take Every giga-project financing round converts into a hiring plan — construction, engineering, hospitality and support teams, fast and Saudisation-compliant. Mobilising and payrolling those teams at speed is exactly what TASC does. |
Source: Arab News
Labour & Saudisation
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70% Saudisation rate for project-management professions from 14 February 2027 |
Saudi Arabia's Ministry of Human Resources and Social Development has set a 70 percent Saudisation rate for project-management professions in the private sector, effective 14 February 2027. The requirement applies at entity level to establishments employing three or more workers in the targeted roles.
The targeted positions cover three categories — Project Management Director, Project Management Engineer and Project Management Specialist — under the Saudi Standard Classification of Occupations. The ministry is implementing the decision in partnership with the Ministry of Municipalities and Housing.
It is the latest profession-specific quota in a widening Saudisation drive, and gives employers with project-management teams a clear deadline to plan their national hiring.
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The TASC Take With a hard 2027 deadline, employers must line up qualified Saudi project managers, engineers and specialists — and classify them correctly on Qiwa. Sourcing that talent and keeping Saudisation compliant is exactly where TASC helps. |
Source: Saudi Gazette
Construction
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55.2 Saudi construction index in July — a third straight month of expansion (above 50) |
Saudi Arabia's construction sector expanded for a third consecutive month in July, with the al Rajhi Capital Saudi Construction Index at 55.2, easing from 56.3 in June but comfortably above the 50 mark that separates growth from contraction.
The survey pointed to strong project activity, new orders and hiring as contractors work through a deep pipeline of housing, infrastructure and giga-project schemes. Input costs and competition remained pressures, but sentiment stayed firmly positive.
A sustained construction upswing keeps demand high for engineering, project-management and skilled-trade teams across the Kingdom.
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The TASC Take A construction sector in sustained expansion needs people fast — engineers, project managers and skilled trades. Mobilising and payrolling those teams at speed and Saudisation-compliant is core to what TASC does. |
Source: Arab News
Industry & Manufacturing
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4.3% year-on-year rise in Saudi industrial output in June (mining and utilities led) |
Saudi Arabia's industrial production index rose 4.3 percent year on year in June, according to the General Authority for Statistics (GASTAT), rebounding on the back of gains in mining and quarrying and in electricity, gas and water supply.
Manufacturing activity also contributed, supported by the Kingdom's push into non-oil industry under Vision 2030. The figures point to broadening industrial momentum even amid a softer oil backdrop.
A growing industrial base sustains demand for operators, technicians, engineers and support staff across factories, plants and utilities.
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The TASC Take Rising industrial output means more shifts, more plants and more hiring across manufacturing and utilities. Recruiting, payrolling and mobilising industrial teams under Saudisation is exactly where TASC adds value. |
Source: Arab News
Energy & Oil
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All rigs ADES's temporarily suspended Saudi offshore rigs now resuming operations |
ADES Holding, one of the region's largest oil and gas drilling contractors, said it has received notices to resume operations across all of its temporarily suspended offshore rigs in Saudi Arabia. The rigs had been paused earlier in the year amid a wider suspension of Gulf drilling capacity.
The restart signals a rebound in oilfield-services activity as Saudi Aramco brings capacity back online. For ADES, a Saudi-listed company, it means remobilising crews and equipment across its offshore fleet.
Reactivating rigs at scale means rapid demand for drilling crews, engineers, technicians and support staff — often at short notice.
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The TASC Take Reactivating an offshore fleet means mobilising crews, engineers and technicians fast and compliantly. Staffing and payrolling energy-services teams at speed is exactly what TASC does. |
Source: Arab News
Finance & Markets
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$7.63bn value of the Saudi Central Bank's US equity portfolio in Q2 2026, up 61% |
The Saudi Central Bank (SAMA) increased the market value of its disclosed portfolio of US stocks and exchange-traded funds by 61.4 percent in the second quarter of 2026, to $7.63 billion. Semiconductor and AI-linked companies featured among its largest positions, with Micron Technology the biggest single holding at about $438 million, followed by a semiconductor ETF, Nvidia and Meta.
The tilt toward technology reflects the global AI investment wave and the Kingdom's broader push into digital and AI capabilities under Vision 2030.
While a portfolio move, it underscores Saudi Arabia's growing appetite for technology exposure — mirrored at home by rising demand for digital and AI talent.
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The TASC Take Saudi Arabia's growing tech exposure abroad mirrors demand at home for digital, data and AI talent. Sourcing and scaling scarce tech teams compliantly is where TASC helps employers. |
Source: Arab News
TASC in Saudi Arabia
Staffing Saudi Arabia's fast-growing private sector
From record PIF earnings and giga-project financing to a construction upswing and new Saudisation targets, employers in the Kingdom need Saudi-ready hiring, payroll, GOSI, WPS and PRO — quick and fully compliant. TASC helps you build and mobilise the right team across Saudi Arabia.
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