• Home
• Smart cities

Talaat Moustafa Saudi, the Saudi development arm of Egypt-based Talaat Moustafa Group Holding (TMG), has executed a preliminary agreement with Roshn Group, a multi-asset real estate developer wholly owned by the Public Investment Fund (PIF). The agreement establishes a joint venture (JV) dedicated to the feasibility, design, and development of a massive, integrated mixed-use urban community in Riyadh.

Under the terms of the transaction, Talaat Moustafa Saudi will hold a controlling 51% equity stake in the newly formed project vehicle, while Roshn Group will hold the remaining 49%. The deal operationalizes the strategic memorandum of understanding previously signed with PIF and disclosed on June 7, 2026.

Joint Venture Structure and Land Synergies

The strategic partnership leverages the core competencies and asset bases of both real estate entities:

DimensionStrategic Parameter

Equity Ownership51% Talaat Moustafa Saudi / 49% Roshn Group (PIF)

Land Bank AllocationPowered by Roshn’s strategic land holdings across prime corridors in Riyadh

Development RoleAnchored by TMG’s specialized experience in master-planning and executing large-scale, self-sustaining integrated urban cities

Financial Strategic ImpactBroadens TMG’s footprint in the GCC and diversifies consolidated balance-sheet revenue via hard-currency operational cash flows

Project Scope and Master Plan Components

Preliminary engineering and master-planning studies outline a mega-city framework designed to absorb accelerating residential demand in the Saudi capital:

Residential Footprint: Slated to deliver over 55,000 residential units, offering diverse typologies to cater to a broad demographic segment.

Commercial & Administrative Infrastructure: Comprehensive office parks, corporate commercial zones, and flexible co-working ecosystems.

Tourism & Hospitality: Hotels, leisure complexes, and entertainment venues integrated directly into the urban layout.

Social & Civic Amenities: Healthcare campuses, primary and secondary educational institutions, neighborhood mosques, and community retail hubs.

Urban Realm & Sustainability: Extensive open public spaces, landscaped green belts, and pedestrian-friendly parks designed to align with the urban quality-of-life goals of Saudi Vision 2030.