Saudi Wealth Fund Is Said to Take Over Struggling Financial Hub - Bloomberg:
"Saudi Arabia’s sovereign wealth fund finalized a deal to take ownership of Riyadh’s $10 billion unfinished financial hub as the government attempts to revive the project, according to people familiar with the matter. The Public Investment Fund is taking control of the King Abdullah Financial District from the Public Pension Agency, the people said, asking not to be identified because the information is private. Details of the deal aren’t clear, they said. The fund will appoint Hilmi Ghosheh as the head of the hub that has been plagued by delays and cost overruns, the people said. Ghosheh is currently advising the PIF’s Managing Director Yasir Al-Rumayyan on real estate projects, according to his LinkedIn profile."
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