New Murabba Development Company (NMDC) has signed an agreement with Alat, a key entity of Saudi sovereign wealth fund PIF, to explore the development and integration of technologies supporting its mega project - Mukaab project.
The MoU also covers potential future technology needs across the wider New Murabba downtown development, said NMDC in a statement.
The agreement includes exploring vertical transportation solutions – such as elevators and escalators – to support mobility within the Mukaab and other New Murabba developments.
The MoU will also explore optimal funding strategies for initial investments in hardware and research and development, while evaluating the feasibility of establishing production facilities within the kingdom, it stated.
"Together, we’re working to deliver truly immersive digital experiences, explore localised tech production within Saudi Arabia, and advance innovation that supports Vision 2030," remarked Michael Dyke, CEO of New Murabba after signing the deal with Alat CEO Amit Midha.
"This partnership reinforces our commitment to building a smart, future-ready destination that redefines how people live, connect, and experience urban life," he added.
This announcement follows other agreements signed by NMDC in recent weeks. In July, it had sealed an MoU with South Korea’s Heerim Architects & Planners to explore additional design work for assets within the 14-sq km New Murabba downtown project.
Under the pact, Heerim will examine architectural concepts aligned with the project’s masterplan, focusing on anchor assets, linear parks and smart city features.
Earlier in July, NMDC signed a deal with another South Korean firm, Naver Cloud Corporation, to explore technological solutions for delivering the New Murabba downtown project.-TradeArabia News Service
