PIF and JLL announce FMTECH investment to grow Saudi facilities management

Riyadh, Saudi Arabia: The Public Investment Fund (PIF) and JLL have announced an agreement under which JLL will acquire a significant stake in The Saudi Facility Management Company (FMTECH), a PIF portfolio company, as part of efforts to further develop Saudi Arabia’s facilities management sector.

Announced on December 15, the transaction will see PIF maintain a majority stake in FMTECH, with completion subject to customary closing conditions. The partnership brings together PIF’s scale and market presence with JLL’s global operational and technological expertise, creating new commercial opportunities across the Kingdom.

Strengthening Saudi Arabia’s facilities management ecosystem

Launched by PIF in 2023, FMTECH is a national integrated facilities management company serving PIF portfolio companies alongside public and private sector clients across Saudi Arabia. Through the investment, JLL will expand its service capabilities in the Saudi market while strengthening its long-standing relationship with PIF.

Read more: PIF and JLL Sign MoU to Strengthen Saudi Arabia’s Real Estate Collaboration

Technology integration and service enhancement

FMTECH is set to benefit from JLL’s global network and proven operational track record, enabling the localisation of international expertise, technologies and best practices. As part of the collaboration, FMTECH will integrate JLL’s advanced digital facilities management platforms and global operating systems, significantly enhancing service quality, operational efficiency and transparency across its delivery model, while supporting long-term value creation for clients.

Alignment with PIF’s economic transformation strategy

The transaction aligns with PIF’s strategy to increase private sector participation from both domestic and international investors across its portfolio companies, supporting Saudi Arabia’s economic transformation agenda and the delivery of sustainable returns.

Saad Alkroud, Head of the Local Real Estate Investment at PIF, said: “Facilities management is a key component of the real estate and infrastructure sector, and of PIF’s local real estate strategy, which drives economic transformation and diversification, advances urban innovation and enhances quality of life. JLL’s investment will further accelerate FMTECH’s progress and create new opportunities for growth that will benefit the sector.”

Neil Murray, CEO, Real Estate Management Services at JLL, said: “With this investment, we’re combining JLL’s best-in-class operational and technological facilities management capabilities with FMTECH’s local market knowledge, to deliver exceptional service to clients in the rapidly growing Saudi market.”