PIF steps in to save construction again.

The Public Investment Fund (PIF) of Saudi Arabia has intervened for the second year in a row to support the country's construction sector, highlighting its importance in achieving the goals of Vision 2030. Last year, the PIF invested $1.3 billion in four local construction companies. This year, the PIF and National Infrastructure Fund (Infra) have launched a construction finance program to address the cash flow issues faced by contractors, which have been exacerbated by the long payment cycles and high upfront costs of projects. This initiative aims to improve cash flow management and enable the industry to deliver projects more efficiently. [Extracted from the article]

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