The Strategist
The Strategist

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



07/08/2025 - 04:58



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.



Picasa
Picasa
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