New Murabba Development Company partners with TDF to revolutionize Riyadh’s downtown

New Murabba Development Company partners with TDF to revolutionize Riyadh’s downtown

Saudi Gazette reportRIYADH — New Murabba Development Company (NMDC) has formed a strategic partnership with the Tourism Development Fund (TDF) through a Memorandum of Understanding (MoU) aimed at transforming Riyadh into a visionary downtown, setting a new global standard for urban development. This collaboration aligns with the ambitious Vision 2030, aiming to position Riyadh as a leading city in urban innovation and a prime investment location.The partnership between NMDC and TDF is a cornerstone in realizing the grand vision of New Murabba, aspiring to create an unparalleled downtown experience. This initiative is designed to harness Saudi Arabia's investment potential, creating a vibrant community where people can live, work, and engage in leisure activities within a dynamic tech ecosystem and a business-friendly environment.Signed by NMDC CEO Michael Dyke and TDF CEO Qusai Al-Fakhri, the MoU includes provisions for direct financing opportunities from TDF, leveraging its extensive network and investment expertise. This agreement is expected to significantly advance New Murabba's development, showcasing Saudi Arabia's dedication to sustainable urban growth, cultural enhancement, and offering unique experiences to both residents and global visitors.Qusai Al-Fakhri expressed enthusiasm about the partnership, emphasizing its role in elevating Riyadh's international stature as a commercial and financial hub. This