- Agreement focuses on identifying opportunities across residential, commercial, hospitality, retail, and integrated mixed-use developments in Saudi Arabia.
- Collaboration supports PIF’s Urban Development and Livability Ecosystem, one of six strategic ecosystems introduced under its 2026–2030 Strategy, while strengthening private-sector participation and long-term value creation.
- Partnership combines PIF’s investment strength and scale with Talaat Moustafa Group’s extensive expertise in integrated urban development.
The Public Investment Fund (PIF) and Talaat Moustafa Group Saudi for Real Estate Development (TMG) have signed a Memorandum of Understanding (MoU) to explore cooperation on mixed-use real estate developments across Saudi Arabia, including projects owned or supported by PIF.
The partnership seeks to capitalize on PIF’s investment capabilities, extensive network, and development platform alongside TMG’s proven experience in delivering large-scale integrated communities. Together, the two parties will evaluate opportunities across residential, commercial, hospitality, and retail sectors, as well as broader urban development initiatives. The collaboration is expected to accelerate project execution and enhance value generation across PIF’s development portfolio.
TMG contributes significant regional expertise gained through the successful delivery of major residential, commercial, and hospitality destinations, bringing valuable technical, operational, and management capabilities to the partnership.
In addition, the framework established under the MoU is intended to encourage participation from other investors in future project phases, promote knowledge sharing, and expand opportunities for private-sector involvement as investors, development partners, and suppliers.
The agreement aligns with PIF’s wider objective of supporting Saudi Arabia’s economic diversification agenda. Through strategic local and international partnerships, PIF continues to attract investment, strengthen priority sectors, and generate sustainable long-term returns.
As part of its Urban Development and Livability Ecosystem, PIF is advancing real estate projects in collaboration with private-sector partners to drive innovation, enhance urban environments, and maximize value creation. The ecosystem encompasses housing, retail, office, community, and essential service developments, all designed to improve quality of life and support the creation of sustainable, people-centered cities.
PIF is also leading the development of transformative giga-projects and landmark real estate initiatives throughout Saudi Arabia, contributing to national objectives, including increasing homeownership among Saudi citizens to 70% by 2030.
As one of the world’s leading investors, PIF’s 2026–2030 Strategy focuses on building competitive ecosystems, optimizing asset performance, delivering sustainable returns, and achieving operational excellence, while continuing to drive economic impact across Saudi Arabia.
TMG is a diversified real estate and tourism group and one of the region’s foremost fully integrated developers. Over nearly 55 years, the company has delivered large-scale integrated cities, communities, hotels, and resort destinations across Egypt.
The MoU is non-binding and remains subject to the fulfillment of specified conditions, as well as all required regulatory and internal approvals.
