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Saudi Arabia's sovereign wealth fund invests $200 million in a skyscraper in midtown Manhattan

07/08/2025 4:58 AM

The Public Investment Fund (PIF) of Saudi Arabia has invested $200 million in a project to construct a 366-meter tall skyscraper in Manhattan and intends to acquire a two-thirds ownership in the project, according to Bloomberg, which references sources.

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The property located at 625 Madison Avenue was purchased by the developer Related in 2024. It is situated in a prominent location, just a block away from Central Park.

“This is a remarkable site with views of Central Park,” stated Natalie Ravitz, a representative for Related, refraining from commenting on PIF's participation.

The Saudi fund has been a long-time partner with Related. Media reports indicate that in 2020, PIF provided funding to Related.

source: bloomberg.com

Saudi Arabia's sovereign wealth fund invests $200 million in a skyscraper in midtown Manhattan

The Public Investment Fund (PIF) of Saudi Arabia has invested $200 million in a project to construct a 366-meter tall skyscraper in Manhattan and intends to acquire a two-thirds ownership in the project, according to Bloomberg, which references sources.

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