New Murabba, a Public Investment Fund (PIF) company, has signed a Memorandum of Understanding (MoU) with South Korean tech giant, NAVER Cloud Corporation, for its 14 sq km mixed-use urban destination development currently under construction in Riyadh. The agreement was signed during the company's Investment and Partnership Forum, held in Seoul, South Korea.
According to a press release from New Murabba, the three-year agreement covers exploring innovative technology and automation to support the delivery of New Murabba, including robotics, autonomous vehicles, a smart city platform, and digital solutions for monitoring construction progress.
In his address at the forum, New Murabba CEO Michael Dyke stated, “Our partnership with NAVER Cloud Corp reinforces our commitment to collaborating with international investors and businesses who share our vision for New Murabba – and want to be part of Saudi Arabia’s transformational future.”
The release also highlighted that the two-day forum includes deep-dive presentations on Vision 2030, New Murabba’s master plan, investment and partnership opportunities, and discussions around tech and innovation. It will be complemented by an exhibition including scale models and virtual reality features that showcase the development.
