PIF and Talaat Moustafa Group Sign MoU for Saudi Mixed-Use Developments

RIYADH, SAUDI ARABIA – The Public Investment Fund (PIF) and Talaat Moustafa Group Saudi for Real Estate Development (TMG Saudi) have signed a Memorandum of Understanding (MoU) to explore collaboration opportunities across mixed-use real estate developments in Saudi Arabia.

The agreement establishes a framework for both parties to assess potential projects within developments owned by PIF and across its broader portfolio, with a focus on residential, commercial, hospitality and retail assets, alongside integrated urban communities.

The collaboration combines PIF’s investment capabilities, scale and development ecosystem with TMG’s experience in delivering large-scale mixed-use communities throughout the region. The parties said the partnership is intended to support project delivery, create long-term value and contribute to the evolution of Saudi Arabia’s urban development landscape.

TMG is one of the region’s largest real estate and tourism developers, with nearly 55 years of experience in developing integrated cities, residential communities, hotels and resorts across Egypt. The company’s expertise is expected to support the planning and execution of future developments while strengthening technical and operational capabilities.

The MoU also outlines a framework designed to encourage wider participation from investors in future development phases. In addition to attracting investment, the collaboration seeks to promote knowledge transfer and create opportunities for private-sector participation as investors, suppliers and strategic partners.

The agreement aligns with PIF’s broader efforts to diversify the Saudi economy and expand private-sector participation across priority industries. Through regional and international partnerships, PIF continues to pursue investments that support economic development while generating sustainable long-term returns.

Urban development and livability remain key pillars within PIF’s investment strategy. The fund is actively investing in projects that enhance quality of life, support sustainable urban growth and create integrated communities that combine housing, retail, office space and essential services.

PIF’s urban development and livability ecosystem forms part of six strategic ecosystems established under its long-term investment strategy. These initiatives are designed to accelerate urban innovation and support Saudi Arabia’s national development objectives, including increasing homeownership among Saudi citizens to 70% by 2030.

The sovereign wealth fund continues to lead the development of several of the Kingdom’s landmark real estate projects and giga-developments, helping to reshape urban environments and attract domestic and international investment.

The non-binding MoU remains subject to the fulfilment of certain conditions and the receipt of all required regulatory and internal approvals.