Tag Archives: TFD

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 realization of New Murabba’s bold ambition to create the most advanced, transformative, downtown experience in the world. It aims to fulfil 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 tech ecosystem, an enabling business environment and a diverse and welcoming society. The MoU was signed by New Murabba Development Company CEO, Michael Dyke and TDF CEO, Qusai bin Abdullah Al-Fakhri. As part of the agreement, TDF will provide direct financing opportunities — in collaboration with its network of partners and contracted investors, which solidifies NMDC’s access to TDF’s expertise, networks and investment capabilities. The agreement is poised to unlock New Murabba’s immense potential, placing Riyadh it at the forefront of global destinations and showcasing the Kingdom of Saudi Arabia’s commitment to innovative, sustainable urban development, cultural richness, and unparalleled visitor experiences on the world stage. Qusai bin Abdullah Al-Fakhri, CEO, TDF, said: “We are pleased to have partnered with the New Murabba Development Company to bring this bold undertaking to life: an innovative undertaking that will enhance Riyadh’s status on the global stage as one of the commercial and financial capitals of the world. This is a future-focused …

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