PIF and JLL Forge Strategic Partnership to Advance Saudi Real Estate Sector

Strategic Collaboration for Real Estate Growth

The Public Investment Fund (PIF) of Saudi Arabia and Jones Lang LaSalle Saudi Arabia Company Limited (JLL) have officially signed a Memorandum of Understanding (MoU) to deepen their collaboration and significantly bolster the Kingdom's real estate industry. This landmark agreement, formalized during the Future Investment Initiative (FII) conference in Riyadh on October 30 or 31, 2025, underscores both entities' commitment to advancing the Saudi real estate ecosystem.

Key Objectives and Areas of Cooperation

The partnership is designed to foster innovation and improve efficiency within Saudi Arabia's dynamic real estate sector. Through this MoU, PIF and JLL will leverage their combined expertise across several critical areas, including:

• Market insights
• Valuation
• Project management

The collaboration is expected to lead to greater private sector participation, cultivate local talent, and accelerate the adoption of new technologies, thereby contributing to sustainable real estate growth in the Kingdom.

Alignment with Saudi Vision 2030

This strategic alliance is a direct reflection of the ambitious goals outlined in Saudi Vision 2030. The MoU aligns with the national objectives to diversify the domestic economy, expand the role of the private sector, and enhance the overall quality of life for citizens and residents across Saudi Arabia. The PIF, recognized as one of the world's most impactful investors, plays a pivotal role in driving economic transformation and diversification through the development of transformative giga-projects and landmark real estate initiatives.

Leadership and Future Outlook

The Memorandum of Understanding was signed by Saad Alkroud, Head of the Local Real Estate Investment Division at PIF, and Sue Asprey Price, EMEA CEO & Global Head of Portfolio Services, Work Dynamics at JLL. JLL, a global real estate firm with over 200 years of experience and operations in 80 countries, brings extensive international expertise to the partnership. This collaboration is a key component of PIF's local real estate strategy, which focuses on advancing urban innovation and enhancing living standards, further solidifying Saudi Arabia's position as a leading destination for real estate development and investment.