Saudi Arabia’s sovereign fund PIF sells a small stake in FMTECH to real estate firm JLL
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has agreed to sell a small share in Saudi Facility Management Company (FMTECH) to global real estate services company Jones Lang LaSalle (JLL). Even after the sale, PIF will continue to own most of the company.
The deal aims to help FMTECH grow faster by using JLL’s global experience, advanced technology, and international network. According to the state-owned Saudi Press Agency (SPA), the partnership will also support the development of local skills and modern facilities management technologies in Saudi Arabia.
As part of the agreement, FMTECH will adopt JLL’s digital facility management platforms and global operating systems across its business. These tools are expected to improve how FMTECH manages buildings and services.
PIF said the partnership should improve service quality, increase efficiency, and bring more transparency to FMTECH’s operations. This will help create long-term value for customers and strengthen the company’s overall performance.
The transaction is still subject to standard closing conditions. It will be completed once all regulatory and contractual approvals are received.
This investment supports PIF’s wider strategy of attracting private sector investment, both from Saudi Arabia and overseas, into its portfolio companies. PIF believes this approach helps unlock the full business potential of its assets while supporting Saudi Arabia’s economic transformation under Vision 2030. It also aims to deliver sustainable financial returns.
FMTECH was established by PIF in 2023 as a national integrated facilities management company. It provides a wide range of services, including building operations and maintenance, to PIF-owned companies as well as public and private sector clients across Saudi Arabia.
For JLL, the investment strengthens its presence in the Saudi market and expands its service offerings. Its involvement is expected to speed up FMTECH’s development and create new growth opportunities across the facilities management sector.
Saudi Arabia’s facilities management market is growing quickly, driven by Vision 2030 mega projects, large urban developments, and increased investment in smart and sustainable infrastructure. As more buildings and large projects are developed, the demand for professional facility management services continues to rise.
These services are essential to ensure buildings operate efficiently, are well maintained, and meet sustainability goals. Companies are also focusing more on cost control and operational efficiency, leading to higher demand for integrated facilities management. This model allows clients to receive multiple services from a single provider, making operations simpler and more cost-effective.
Despite strong growth, the sector faces challenges. Companies must follow Saudi labor laws, building regulations, and safety standards, while also meeting Saudization requirements. As a result, many facility management firms are working with local partners and investing in training programs to develop a skilled local workforce.
According to Fortune Business Insights, Saudi Arabia’s facilities management market is expected to grow from $27.4 billion in 2025 to $56.3 billion by 2032. This represents a compound annual growth rate (CAGR) of 10.8%, highlighting the sector’s strong long-term potential.
Published: 16th December 2025
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