GCC, Canada discuss strengthening ties across key sectors

Canadian Minister of International Development Ahmed Hussen and GCC Secretary General Jasem Al-Budaiwi. GCC
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Updated 07 January 2025
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GCC, Canada discuss strengthening ties across key sectors

  • Talks explored opportunities to deepen alliances, including in education and renewable energy
  • They also discussed pressing regional and international issues

RIYADH: The Gulf Cooperation Council and Canada have reaffirmed their commitment to strengthening international development and investment ties following high-level talks between officials.

On Jan. 6, GCC Secretary General Jasem Al-Budaiwi met with Canadian Minister of International Development Ahmed Hussen to discuss improving bilateral cooperation.

According to a statement from the GCC Secretariat, the talks explored opportunities to deepen alliances between the economic bloc and the North American country, including education and renewable energy.

Within the GCC, countries including Saudi Arabia are actively deepening their relations with Canada, as demonstrated by the restoration of diplomatic ties in May 2023 after a five-year hiatus.

The statement from the GCC Secretariat added that the Jan. 6 discussions also addressed pressing regional and international issues, highlighting the significance of dialogue and strategic partnerships in fostering security and global stability.

“At the conclusion of the meeting, both sides reaffirmed the significance of joint cooperation to enhance sustainable development efforts at both regional and global levels, contributing to greater stability in the region and beyond,” the statement said.

At the end of December, Saudi Arabia’s Minister of Economy and Planning Faisal Al-Ibrahim held talks with Canadian Ambassador Jean-Philippe Linteau at his department’s headquarters in Riyadh, according to the Saudi Press Agency.  

Economic cooperation was the focus of the meeting as relations between the nations continue to progress.


JLL to invest in PIF-backed FMTECH to boost Saudi facilities management sector

Updated 15 December 2025
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JLL to invest in PIF-backed FMTECH to boost Saudi facilities management sector

JEDDAH: Saudi Arabia’s Public Investment Fund announced on Monday that US-based real estate services firm JLL will acquire a significant stake in Saudi Facility Management Co., known as FMTECH, a subsidiary of the sovereign wealth fund.

In a press release, PIF said it will retain a majority ownership in FMTECH following the transaction.

Saad Alkroud, head of local real estate investment at PIF, said facilities management plays a central role in the Kingdom’s real estate and infrastructure ecosystem and is a key pillar of the fund’s local real estate strategy.

He noted that the strategy supports economic transformation and diversification, promotes urban innovation, and enhances quality of life.

“JLL’s investment will further accelerate FMTECH’s development and unlock new growth opportunities that will benefit the wider facilities management sector,” Alkroud said.

FMTECH was launched by PIF in 2023 as a national integrated facilities management company, providing services to PIF portfolio firms as well as public- and private-sector clients across Saudi Arabia.

The investment enables JLL to broaden its service offering in the Kingdom while deepening its existing partnership with PIF.

Neil Murray, CEO of real estate management services at JLL, said the investment brings together JLL’s global operational expertise and technology-driven facilities management capabilities with FMTECH’s deep understanding of the local market.

“By combining our strengths, we aim to deliver high-quality, efficient services to clients in Saudi Arabia’s rapidly expanding facilities management market,” Murray said.

FMTECH is expected to leverage JLL’s international network and operational experience to develop new commercial opportunities while supporting the localization of expertise and advanced technologies.

According to the press release, the company will integrate JLL’s digital facilities management platforms and global operating systems, significantly enhancing service quality, efficiency, and transparency across its operations.

The transaction aligns with PIF’s broader strategy to attract domestic and international private-sector investment into its portfolio companies, helping unlock their full potential while advancing the Kingdom’s economic transformation agenda and generating sustainable long-term returns.