The Saudi Public Investment Fund (PIF) officially opened its first office in France, located in Paris, as part of its broader global expansion strategy.
This move aims to strengthen economic partnerships between Saudi Arabia and Europe, especially France, and follows the fund’s previous international expansions to New York, London, Hong Kong, and Beijing.
The announcement coincided with the “Choose France” summit, which aims to attract foreign investment and position France as a leading destination for international capital.
From 2017 to 2024, the PIF invested approximately $84.7 billion across Europe, contributing $52 billion to Europe’s GDP and generating over 254,000 direct and indirect jobs. In France alone, investments reached $8.6 billion, creating 4,800 jobs and adding tangible value to the national economy.
Looking ahead, PIF plans to double its European investments to $170 billion by 2030, with a focus on technology, energy, healthcare, culture, sports, and infrastructure, aligned with Saudi Arabia’s Vision 2030, which seeks to diversify the economy beyond oil.
The opening ceremony was attended by high-ranking officials, including PIF Governor Yasir Al-Rumayyan and French President Emmanuel Macron, marking a symbolic moment of strengthened bilateral cooperation.
In a surprising twist, Saudi journalist Alwaleed Aldebasi stirred speculation among Olympique de Marseille (OM) fans by linking the Newcastle United acquisition in 2021 to OM’s future, describing it as a “strange story being told for the first time tonight from Newcastle.
With FRSA activated in France since early May, fans are now eagerly awaiting the official confirmation of a potential Saudi-led takeover.
