11:49 - 8.07.2025

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July 8, Fineko/abc.az. Saudi sovereign Public Investment Fund (PIF) has already invested $200 million in the construction of a 366-meter skyscraper in Manhattan and plans to receive two-thirds of the shares in the project.

ABC.AZ reports that Bloomberg writes about this, citing informed sources.

The site at 625 Madison Avenue was acquired in 2024 by developer Related. It is located in a prestigious area, one block from Central Park.

PIF and Related are long-standing partners. According to media reports, PIF has already provided Related with financing in 2020.