NMDC join forces with Saudi Tourism Development Fund

NMDC join forces with Saudi Tourism Development Fund

New Murabba Development Company (NMDC) has signed a memorandum of understanding (MoU) with the Tourism Development Fund (TDF) to spearhead the transformation of Riyadh. The agreement will see the two entities work closely together to create New Murabba, the world’s largest modern downtown, serving as a model for future urban development and contributing towards Riyadh […]New Murabba Development Company (NMDC) has signed a memorandum of understanding (MoU) with the Tourism Development Fund (TDF) to spearhead the transformation of Riyadh.

The agreement will see the two entities work closely together to create New Murabba, the world’s largest modern downtown, serving as a model for future urban development and contributing towards Riyadh city’s evolution, in line with Vision 2030.

NMDC’s strategic partnership with TFD marks a pivotal moment in the realization of New Murabba’s bold ambition to create the most advanced, transformative, downtown experience in the world.

According to the statement, “Further, it aims to fulfill Saudi Arabia’s potential as a leading investment destination, a place where people live, work, and play, a go-to tourism and hospitality hotspot distinguished by a thriving technology ecosystem, an enabling business environment; and a diverse and welcoming society.”

As part of the agreement, TDF will provide direct financing opportunities in