Riyadh – Sharikat Mubasher: Saudi Arabia’s Public Investment Fund (PIF) and global real estate services firm JLL announced that JLL will acquire a significant minority stake in Saudi Facility Management Company (FMTECH), while PIF will retain a majority holding.
According to an official joint press release, the transaction remains subject to customary closing conditions.
Following the transaction, FMTECH is expected to benefit from JLL’s global operating expertise, digital facilities management platforms, and international network, supporting service quality, operational efficiency, and transparency across its delivery model. The move is also intended to accelerate knowledge transfer and the localization of advanced technologies within the Saudi facilities management sector.
Established by PIF in 2023, FMTECH operates as a national integrated facilities management platform, serving PIF portfolio companies alongside public and private sector clients across the Kingdom. The investment is set to deepen JLL’s presence in Saudi Arabia and builds on its existing partnership with PIF.
Saad Alkroud, Head of Local Real Estate Investment at PIF, highlighted that the deal aligns with PIF’s real estate strategy and its broader mandate to drive economic diversification and urban development.
Meanwhile, Neil Murray, CEO of Real Estate Management Services at JLL, noted that the partnership combines global operational capabilities with strong local market insight to meet growing demand in Saudi Arabia’s expanding real estate and infrastructure landscape.
