PIF and Talaat Moustafa Group Sign MoU to Develop Mixed-Use Real Estate Projects in Saudi Arabia
Saudi Arabia The Public Investment Fund (PIF) and Saudi Talaat Moustafa Group for Real Estate Development (TMG) announced today the signing of a Memorandum of Understanding (MoU) aimed at enhancing cooperation and partnership opportunities in PIF-owned mixed-use real estate development projects across the Kingdom.
The two parties seek to unlock further investment opportunities in residential, commercial, hospitality, and retail sectors, as well as integrated urban complexes. This will be achieved by leveraging PIF’s extensive investment expertise alongside TMG’s successful track record in mixed-use real estate development. The MoU is expected to accelerate project delivery and drive significant value for PIF and its portfolio.
With decades of experience in executing comprehensive residential, commercial, and hotel projects regionally, TMG’s technical and managerial expertise will positively impact the scope of this collaboration. Furthermore, the MoU establishes a partnership framework that paves the way for additional investors to join future phases of these real estate projects. This approach promotes knowledge transfer and opens the door for broader partnerships with the local private sector as investors, partners, and suppliers.
Strategic Alignment with PIF Objectives This MoU aligns seamlessly with PIF’s strategic objectives to lead the diversification of the local economy. The Fund continues to build regional and international partnerships, attract investments to maximize returns, and unlock the capabilities of strategic sectors.
Operating within the "Urban Development" sector, PIF invests in numerous real estate projects in partnership with the private sector to maximize long-term value and foster innovation. These investments aim to enhance the quality of life and contribute to the development of advanced, sustainable, human-centric cities. Recognized as one of the six key economic sectors under PIF's 2026–2030 strategy, the urban development ecosystem focuses on creating housing for various demographics, commercial and office spaces, and community areas equipped with essential services.
PIF is spearheading major transformational projects and prominent real estate initiatives across the Kingdom, directly contributing to the goals of Saudi Vision 2030, which includes raising the homeownership rate among Saudi citizens to 70%.
As one of the world's most impactful investors, PIF’s 2026–2030 strategy focuses on unlocking the full potential of its strategic assets through competitive local economic ecosystems, maximizing long-term returns, and enhancing investment efficiency.
About Talaat Moustafa Group Talaat Moustafa Group is the largest real estate and tourism developer in Egypt and one of the leading integrated institutions in the Middle East. Over nearly 55 years, the group has successfully developed integrated cities, urban communities, and world-class hotels and resorts across Egypt.
Note: The non-binding MoU announced today is subject to the fulfillment of various requirements, including obtaining the necessary regulatory and internal approvals.