Saudi Arabia’s Public Investment Fund (PIF) and Talaat Moustafa Group (TMG) Saudi for Real Estate Development have signed a Memorandum of Understanding (MoU) to explore collaboration on mixed-use real estate developments across PIF-owned projects in the Kingdom.
The agreement will enable both parties to assess opportunities in residential, commercial, hospitality, retail, and integrated urban developments, leveraging PIF’s investment capabilities and ecosystem alongside TMG’s experience in delivering large-scale mixed-use projects.
Focus on urban development and value creation
Under the MoU, the two sides aim to accelerate project delivery and enhance value creation across PIF’s real estate portfolio. The collaboration is expected to strengthen technical and managerial capabilities through TMG’s regional expertise in integrated residential, commercial, and hospitality developments.
The partnership will also establish a framework that could attract additional investors to future project phases, while supporting knowledge transfer and expanding private-sector participation as investors, partners, and suppliers.
Supporting Saudi economic diversification
The agreement aligns with PIF’s broader strategy to diversify the Saudi economy through regional and international partnerships, investment attraction, and the development of priority sectors.
Within its urban development and livability ecosystem, PIF is investing in projects that support sustainable cities, improve quality of life, modernize living environments, and deliver long-term value through coordinated public-private sector investments.
PIF’s urban development ecosystem includes housing, retail, office and community spaces, as well as essential services, and forms part of six strategic ecosystems under the fund’s investment approach.
Advancing housing and development goals
PIF continues to lead the development of giga-projects and landmark real estate initiatives across Saudi Arabia, contributing to national objectives including raising homeownership among Saudi citizens to 70% by 2030.
Under its 2026–2030 strategy, the sovereign wealth fund is focused on building competitive ecosystems, maximizing asset value, generating sustainable returns, and delivering economic impact for the Kingdom.
TMG spotlights decades of regional experience
TMG is one of the region’s leading real estate and tourism groups, with nearly 55 years of experience developing integrated cities, communities, hotels, and resorts across Egypt.
The companies noted that the MoU is non-binding and remains subject to the fulfilment of certain conditions and the receipt of required regulatory and internal approvals.
