The agreement marks the beginning of a partnership aimed at identifying potential projects across Saudi Arabia
Riyadh, Saudi Arabia, [12 February 2026]: Smart Accommodation for Residential Complexes Company (sarcc), a Public Investment Fund (PIF) company, announced today the signing of a Memorandum of Understanding (MoU) with Tatweer company to explore strategic collaboration opportunities within Saudi Arabia’s employee accommodation sector.
The MoU reflects a shared interest in identifying and assessing potential projects to develop high-quality employee accommodation across the Kingdom, aligned with Saudi Arabia’s growth and development priorities.
The agreement was signed by James Atkinson, Acting CEO of sarcc, and Eng. Khaled Madkhali, Tatweer Company CEO, during a signing ceremony held as part of the PIF Private Sector Forum 2026.
Commenting on the signing, James Atkinson, Acting CEO of sarcc, said:
“This Memorandum of Understanding with Tatweer company represents an important step in sarcc’s continued efforts to expand strategic collaborations that support the delivery of high-quality employee accommodation solutions. Through this partnership, we aim to explore opportunities that enhance workforce wellbeing while contributing to sustainable development across the Kingdom.”
Tatweer Company CEO, Eng. Khaled Madkhali added:
“We are pleased to sign this MoU with sarcc to explore potential areas of collaboration in the employee accommodation sector. This partnership reflects a shared commitment to supporting Saudi Arabia’s development agenda through the delivery of well-planned and sustainable living environments.”
Under the terms of the MoU, the parties will explore potential collaboration opportunities in the Kingdom of Saudi Arabia related to the real estate sector, which may include developing employee accommodation, subject to further evaluation and mutual agreement.
This MoU underscores sarcc’s dedication to partnering with leading Saudi entities to deliver safe, secure, and high-quality accommodation solutions. Through such collaborations, sarcc continues to advance its mandate in support of the Public Investment Fund’s strategy and the objectives of Vision 2030.