“The partnership with PIF presents us with an exceptional opportunity for growth. We look forward to drawing on the Fund’s expertise to transform AlBawani into a leading diversified group in the region by creating the best value for our clients, investors, employees and the society at large," Fakher AlShawaf, Chairman of Al Bawani Holding Company, said. 

AlShawaf added: "The Construction sector is of significant importance to the Saudi economy, and we believe that PIF’s contribution and investment into this sector will support the realization of Vision 2030’s ambitious projects.”