Saudi Crown Prince Mohammed bin Salman, through the Public Investment Fund (PIF), has enlisted Egypt’s Talaat Moustafa Group to assess troubled real-estate developments across the Kingdom and identify projects that may still be commercially viable.

A memorandum of understanding was signed in Riyadh on Sunday between Talaat Moustafa Group and the Public Investment Fund.

Under the agreement, the Egyptian company will conduct a review of distressed property projects in various regions of Saudi Arabia and subsequently determine which developments it may be willing to invest in and support.

The arrangement effectively grants the company the opportunity to evaluate the viability of selected projects before deciding whether to participate in their redevelopment or rescue.