PIF partners with Talaat Mostafa on Saudi real estate
The Saudi Public Investment Fund and Talaat Mustafa Group have announced the signing of a memorandum of understanding to enhance collaboration on multiple-use real estate development projects within the Kingdom. These projects include housing, commerce, and hospitality, aligned with the urban development strategy for the period 2026-2030. The aim is to develop residential, commercial, and urban spaces that support Saudi Vision 2030 and increase homeownership among citizens to 70%. The value of the projects and specific financial amounts were not disclosed. This agreement is part of an economic framework designed to attract investors and strengthen the private sector. It is worth noting that the group has a local subsidiary and is involved in housing projects and other collaborations.
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