| Saudi Arabia's top sovereign wealth fund is negotiating to buy a stake in one of the kingdom's most ambitious real estate projects as Riyadh restructures the economy to cope with low oil prices, a source familiar with the plan said.
The Public Investment Fund aims to invest in King Abdullah Economic City (KAEC) on the Red Sea coast near Jeddah, the source said. hat would inject capital into the business zone, now being developed by Emaar the Economic City (EEC), a Saudi consortium affiliated with Dubai's Emaar Properties Group, developer of the Burj Khalifa, the world's tallest building...............................................Full Article: Source
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