The Public Investment Fund (PIF) and Jones Lang LaSalle (JLL) have announced that JLL is acquiring a significant stake in FMTECH, a national facilities management company owned by PIF. PIF will retain a majority stake, and the deal is expected to close pending customary conditions.
Launched by PIF in 2023, FMTECH provides integrated facilities management services to PIF portfolio companies as well as public and private sector clients across Saudi Arabia. This partnership will allow JLL to expand its services in the Kingdom while strengthening its collaboration with PIF.
Through this investment, FMTECH will leverage JLL’s global network and operational expertise to create new commercial opportunities and localize advanced knowledge and technology. FMTECH plans to integrate JLL’s digital facility management platforms and global operating systems, enhancing service quality, operational efficiency, and transparency, ultimately creating long-term value for clients.
This transaction aligns with PIF’s strategy to attract domestic and international private sector investment into its portfolio companies, supporting economic transformation while delivering sustainable returns.
Saad Alkroud, Head of Local Real Estate Investment at PIF, said:
“Facilities management is a cornerstone of our real estate strategy, driving economic diversification, urban innovation, and quality of life improvements. JLL’s investment will accelerate FMTECH’s growth and create new opportunities across the sector.”
Neil Murray, CEO of Real Estate Management Services at JLL, added:
“We’re combining JLL’s global operational and technological expertise with FMTECH’s local market knowledge to deliver exceptional facilities management services in Saudi Arabia’s rapidly growing market.”
