PIF and TMG Join Forces to Boost Saudi Arabia's Real Estate Sector
The Public Investment Fund (PIF) and Talaat Moustafa Group Saudi for Real Estate Development (TMG) have recently signed a Memorandum of Understanding (MoU) to explore and collaborate on mixed-use real estate projects. These projects will be developed at sites owned by PIF and across various locations in Saudi Arabia.
By leveraging PIF’s extensive investment capabilities, scale, and ecosystem, alongside TMG’s proven 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 in integrated urban environments. The MoU is expected to accelerate project delivery and value creation for PIF and its projects.
TMG brings extensive regional experience in delivering large-scale integrated residential, commercial, and hospitality projects. This collaboration will enhance the technical and managerial capacity of the partnership. The partnership will also establish a collaborative framework that opens avenues for additional investors to join future phases of projects, fostering knowledge transfers and expanding private-sector roles as investors, partners, and suppliers.
The MoU is part of PIF’s broader strategic goals to diversify Saudi Arabia’s economy. PIF continues to build regional and international partnerships, attract investments to maximize returns, and further unlock the capabilities of priority industries. 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. These projects will enhance the quality of life, modernize living, and create people-centered sustainable cities through coordinated investments.
PIF’s urban development ecosystem, one of six new ecosystems, includes housing, retail, office, and community spaces and essential services. PIF leads the development of transformative giga-projects and landmark real estate initiatives across Saudi Arabia. It is contributing to the achievement of several national goals by 2030, including increasing housing ownership by Saudi citizens to 70%.
PIF is one of the world’s most impactful investors. Under its 2026-2030 Strategy, PIF is delivering competitive ecosystems, unlocking the full potential of its assets, maximizing long-term returns, and driving operational excellence. It continues with its strategic mandate to achieve economic impact for Saudi Arabia while securing sustainable returns.
TMG is a real estate and tourism conglomerate and one of the region’s leading fully integrated businesses. For nearly 55 years, the Group has successfully developed fully integrated cities and communities and created world-class hotels and resorts across Egypt. The non-binding MoU announced recently is subject to the satisfaction of certain conditions precedent and obtaining all necessary regulatory and internal approvals.
