The USD2tr Public Investment Fund (PIF) is likely to make an offer next month to buy King Abdullah Financial District  (70% built, due for completion in 2017) as the government attempts to rehabilitate a project plagued by delays and cost overruns. The fund may pay cSAR30bn (USD7.9bn) - the amount already spent on the hub by the Saudi Public Pension Agency - plus the cost of undeveloped plots. Its main contractor, the Saudi Bin Ladin Group, has stopped working on the project, while little space has been taken up in the 73 buildings being constructed. (Bloomberg)