New Murabba Company, a subsidiary of the Public Investment Fund (PIF), has signed a memorandum of understanding (MoU) with the Ministry of Industry and Mineral Resources aimed at strengthening local content, supporting national supply chains, and increasing the use of Saudi-made products and local suppliers across New Murabba’s development projects. New Murabba is one of Riyadh’s most significant urban development initiatives.
The MoU signing was attended by the Vice Minister of Industry and Mineral Resources for Industrial Affairs, Eng. Khalil bin Ibrahim bin Salamah, and New Murabba Chief Executive Officer Michael Dyke, according to an official statement issued by New Murabba Company.
Under the agreement, both parties will implement a range of collaborative initiatives designed to boost local content in development activities and expand the participation of domestic suppliers within New Murabba projects. The cooperation framework includes the exchange of expertise and knowledge, as well as the sharing of data and information related to local manufacturing capabilities, aligned with project requirements and in accordance with relevant laws and regulations.
The agreement also covers evaluating the preparedness of Saudi factories by compiling detailed lists of qualified manufacturers, analyzing criteria related to product and supplier selection, and providing recommendations to improve the competitiveness of locally produced goods.
The MoU was formally signed by New Murabba Chief Corporate Services Officer Mamdouh Al-Quraishi and the Acting Deputy Minister for Industrial Enablement, Eng. Albadr Adel Fouda.
Al-Quraishi emphasized that local industry represents a fundamental component of New Murabba’s vision, noting that the project has progressed from planning into the execution phase. He explained that the partnership with the Ministry of Industry and Mineral Resources is intended to strengthen collaboration with Saudi manufacturers, reinforce local content and national supply chains within the real estate development sector, and ensure the project delivers tangible contributions to the Kingdom’s broader economic goals.
The statement added that the MoU reflects the shared commitment of both parties to expanding the role and impact of local content in strategic developments. It also aims to enhance integration efforts that enable the national industrial sector to play a meaningful role in future urban projects, while creating new opportunities for Saudi factories to contribute to the development of a globally competitive, sustainable, and innovation-driven urban destination.
