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New Murabba Company, a wholly owned Public Investment Fund (PIF) company, has signed a Memorandum of Understanding (MoU) with the Ministry of Industry and Mineral Resources to strengthen local content and empower national supply chains in Saudi Arabia’s major urban development projects.
The MoU focuses on maximizing the participation of Saudi industrial products and local suppliers in the implementation of the New Murabba destination projects, one of Riyadh’s most prominent urban developments. The signing ceremony was attended by Vice Minister of Industry and Mineral Resources for Industrial Affairs, Eng. Khalil bin Ibrahim bin Salamah, and New Murabba CEO Michael Dyke, according to an official press release.
Under the agreement, both parties will launch joint initiatives aimed at enhancing local content, expanding supplier participation, and supporting Saudi factories involved in development projects. The cooperation also includes exchanging technical knowledge, sharing data on qualified local manufacturers, and aligning supplier engagement with project requirements in compliance with applicable regulations.
The MoU further covers assessing the readiness of national factories by identifying qualified manufacturers, analyzing product and supplier selection criteria, and submitting recommendations to improve the competitiveness of Saudi-made products. The agreement was formally signed by New Murabba Chief Corporate Services Officer Mamdouh Al-Quraishi and Acting Deputy Minister for Industrial Enablement Eng. Albadr Adel Fouda.
Al-Quraishi emphasized that local industry is a core pillar of New Murabba’s development strategy, noting that the project has transitioned from planning to implementation. He highlighted that the MoU aims to deepen cooperation with Saudi factories, strengthen national supply chains, and ensure that large-scale real estate developments directly contribute to the Kingdom’s economic ambitions under Vision 2030.
The partnership reflects broader national efforts to increase local content, enhance industrial integration, and open new opportunities for Saudi manufacturers to participate in future urban development projects rooted in sustainability and innovation.
At J K Management Consultancies, we support businesses, manufacturers, and suppliers in aligning with Saudi local content requirements, supplier registration, industrial compliance, and government-linked project participation. Our expert advisory services help companies position themselves to benefit from strategic initiatives like New Murabba and other Vision 2030 mega projects.
