Saudi wealth fund faces $8bn writedown
August 26, 2025 — Saudi Arabia’s Public Investment Fund (PIF) reported an $8 billion writedown linked to its giga-projects, including NEOM, due to rising costs, delays, and shifting financial priorities.
Key takeaways
- PIF reduces project valuations by 12%, ~$56.2 billion total.
- Reflects higher costs and slower oil revenues.
- Signals recalibration of mega-development plans.
Why it matters
This writedown highlights the financial strain of pursuing large-scale projects amid volatile markets. For investors, it suggests caution and the importance of monitoring Saudi Arabia’s fiscal policy.
Actionable next steps
Learn more in official reporting: Reuters report
Source: Saudi wealth fund suffers $8bn writedown on giga-projects