Arab Finance: Talaat Moustafa Group Saudi for Real Estate Development, a unit of Talaat Moustafa Group (TMG Holding), has signed a memorandum of understanding (MoU) with the Public Investment Fund (PIF) to explore opportunities, according to a statement.

Both sides will join forces to establish mixed-use real estate projects for the Saudi fund and its development schemes across the Kingdom.

The partnership will leverage TMG’s over 50 years of experience in delivering integrated mixed-use communities alongside PIF’s extensive investment capabilities and ecosystem. This is expected to unlock opportunities across the residential, commercial, hospitality, and retail sectors, as well as integrated urban developments.

Furthermore, the MoU would accelerate project execution and support value creation across PIF-backed developments, while reinforcing TMG’s role in advancing urban development and maximizing long-term value realization.

The planned projects aim to enhance the quality of life and promote sustainable urban growth in line with Saudi Arabia’s Vision 2030 goals.

TMG Holding noted that discussions are currently underway with PIF regarding potential projects in Riyadh, Jeddah, Madinah, and Makkah.

The company recently signed a deal with Sela, a subsidiary of PIF, to launch a platform focused on developing and managing live entertainment and event experiences in Egypt.

During 2025, the group topped the 20 best-selling developers that achieved around EGP 1.56 trillion in contracted sales.