RIYADH: Saudi Arabia’s Public Investment Fund and Talaat Moustafa Group Saudi for Real Estate Development have signed a memorandum of understanding to explore mixed-use real estate opportunities across the Kingdom.
The agreement will see the two parties assess opportunities at PIF-owned developments and projects across Saudi Arabia, covering residential, commercial, hospitality, retail and integrated urban developments, according to a statement issued by the fund.
The move aligns with Saudi Arabia’s Vision 2030 strategy to diversify the economy, attract investment and increase private-sector participation in key industries. It also supports efforts to expand housing supply and develop integrated communities as the Kingdom works toward raising homeownership among Saudi citizens to 70 percent by 2030.
“By leveraging PIF’s extensive investment capabilities, scale, and ecosystem, alongside TMG’s track record in delivering integrated mixed-use developments, the parties aim to unlock opportunities across the residential, commercial, hospitality, and retail sectors, as well as integrated urban environments,” the statement said.
PIF said the agreement is expected to accelerate project delivery and value creation across its development portfolio, while creating opportunities for broader private-sector participation.
The partnership is also expected to provide a framework for additional investors to participate in future project phases, while supporting knowledge transfer and broader private-sector involvement as investors, partners and suppliers.
“Within the urban development and livability ecosystem, PIF is investing in real estate projects in partnership with the private sector to maximize long-term value realization and advance urban innovation,” the statement said.
The fund added that projects within the ecosystem are intended to enhance quality of life, modernize living standards and create people-centered sustainable cities through coordinated investments. PIF’s urban development and livability ecosystem, one of six ecosystems outlined in its 2026-2030 strategy, includes housing, retail, office and community spaces, as well as essential services.
Talaat Moustafa Group brings extensive experience in developing large-scale residential, commercial and hospitality projects across the region, adding development and project management expertise to the collaboration.
PIF, one of the world’s largest sovereign wealth funds, is pursuing a strategy focused on expanding investment activity, developing strategic sectors and generating long-term returns while supporting Saudi Arabia’s economic transformation agenda.
The MoU is non-binding and remains subject to the satisfaction of certain conditions as well as the receipt of required regulatory and internal approvals.
