MoU supports PIF’s local real estate strategy to enhance the sector, in line with ambitious goals of Saudi Vision 2030

Riyadh – PIF and Jones Lang LaSalle Saudi Arabia Company Limited (JLL) today announced the signing of a Memorandum of Understanding (MoU) to enhance their cooperation and further support Saudi Arabia’s real estate industry and enhance the private sector.

The signing took place during the Future Investment Initiative (FII) conference in Riyadh, building on both parties’ intentions to further contribute to the development of the Saudi real estate ecosystem.

Through this MoU, PIF and JLL will combine their expertise to spur innovation and increase efficiency in the industry, supporting Vision 2030’s goals to diversify the domestic economy and enhance the quality of life nationwide.

The MoU will strengthen collaboration in important areas such as market insights, valuation and project management. It will lead to greater private sector participation, develop local talent, and accelerate the adoption of new technologies to help achieve sustainable real estate growth.

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, signed the MoU, which forms part of PIF’s local real estate strategy, which drives economic transformation and diversification, advancing urban innovation and enhancing quality of life, driven by the ambitious goals of Saudi Vision 2030. PIF leads the development of transformative giga-projects and landmark real estate initiatives across Saudi Arabia.

PIF continues with its strategic mandate to achieve economic impact for Saudi Arabia while securing sustainable returns. PIF is one of the world’s most impactful investors, driving Saudi Arabia’s economic diversification while also enabling the creation of key sectors and opportunities that help shape the global economy.

ABOUT PIF

PIF is one of the world’s most impactful investors, enabling the creation of key sectors and opportunities that help shape the global economy, deliver returns and drive the economic transformation of Saudi Arabia, supporting the delivery of Vision 2030. PIF invests in projects, companies and partners to diversify the Saudi economy, stimulate growth in every major sector, and create new opportunities for investment and employment.

And as a global investor and catalyst of change, PIF actively partners with the most pioneering organizations across the world to accelerate their growth, and transfer the technology and knowledge needed to build industry ecosystems of the future.

Since 2017, PIF has been establishing companies and driving the transition to a more sustainable economy through strategic investments and partnerships across the Saudi public and private sector. PIF is laying the foundations for local and international partners to invest in the economic and societal transformation of Saudi Arabia.

For media inquiries:
PIF Media Relations
Email: media@pif.gov.sa
Website: www.pif.gov.sa
Ankit Patel: apatel@pif.gov.sa
+966 53 462 5969

About JLL 

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

For further information, visit jll.com.