Real Estate Services Firm JLL Backs PIF-Owned FMTECH in KSA Expansion

JLL, a US-based real estate services firm, is investing in Saudi Facility Management Co. (FMTECH), a subsidiary of the Public Investment Fund (PIF), in a move aimed at accelerating growth in the Kingdom’s facilities management sector. Under the transaction, PIF will maintain majority ownership of FMTECH, while JLL takes a significant equity stake and expands its footprint in Saudi Arabia.

FMTECH was launched in 2023 as a national integrated facilities management company, providing services to public- and private-sector clients as well as to PIF’s own portfolio companies. The firm aims to deliver comprehensive property services across large-scale developments, infrastructure assets, and corporate premises.

The investment will bring together JLL’s global operational expertise and technology-driven facilities management capabilities with FMTECH’s knowledge of the local market. According to Neil Murray, CEO of JLL’s real estate management services division, the partnership intends to deliver higher service quality, greater efficiency and broader commercial opportunities across Saudi Arabia’s expanding facilities management market.

FMTECH is expected to integrate JLL’s digital facilities management platforms and global operating systems to enhance service delivery and operational transparency. The alliance also supports the localisation of expertise and advanced technologies within the Kingdom, aligning with Saudi Arabia’s broader economic transformation goals.

For PIF, the partnership is part of a wider strategy to attract both domestic and international private-sector investment into its portfolio companies, unlock long-term value and contribute to the diversification of the Kingdom’s economy.