JLL acquires stake in PIF’s facility management arm FMTECH

JLL announced today, Dec. 15, signing an agreement to acquire a “significant stake” in Saudi Facility Management Co. (FMTECH) — a company owned by the Public Investment Fund (PIF).

PIF will maintain a majority stake in FMTECH. The transaction is expected to close subject to customary closing conditions, the sovereign fund said in a statement.

Launched by PIF in 2023, FMTECH is a national integrated facility management company, serving PIF portfolio companies as well as public and private sector clients across Saudi Arabia.

The investment enables JLL to expand its service capabilities in the Saudi market, while building on the existing relationship with PIF. 

FMTECH will leverage JLL’s global network and operational track record to create new commercial opportunities and localize knowledge and technologies.

It will also integrate JLL’s advanced digital facility management platforms and global operating systems, which will enable the company to significantly elevate service quality, efficiency, and transparency across its entire delivery model, driving long-term value creation for clients.