New Murabba to bring Riyadh’s visionary downtown to life

New Murabba to bring Riyadh’s visionary downtown to life
The MoU to create New Murabba — the world’s largest, modern downtown — was signed by NMDC CEO Michael Dyke and TDF CEO Qusai bin Abdullah Al-Fakhri.
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Updated 03 March 2024
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New Murabba to bring Riyadh’s visionary downtown to life

New Murabba to bring Riyadh’s visionary downtown to life

New Murabba Development Company has signed an MoU with the Tourism Development Fund 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 toward Riyadh city’s evolution, in line with Vision 2030.

NMDC’s strategic partnership with TFD aims to fulfill Saudi Arabia’s potential as a leading investment destination — 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 NMDC 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.

Al-Fakhri 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 partnership that extends our efforts to work in a fully aligned manner with the private sector to create a greater, more prosperous Saudi Arabia.”

He added: “In line with Vision 2030 and the National Tourism Strategy, our agreement with New Murabba Development Company marks the beginning of an exciting new chapter for Riyadh, one that adds to the richness of the Kingdom’s inspiring story of transformation. Together, we aim to create a modern downtown in the Saudi capital that provides even greater access to exceptional living, working and entertainment experiences. Representing the very best of Saudi excellence, we believe New Murabba will attract tourists — as well as investors — to the Kingdom, and improve citizens’ and residents’ quality of life.”

NMDC CEO Dyke said: “New Murabba will be a gateway to the future. We are confident that our partnership with TDF will enable us to play a transformative role in diversifying sources of income for the Saudi economy, aligning seamlessly with the objectives of Vision 2030. Together, we will create groundbreaking opportunities that will elevate the Saudi tourism landscape and drive New Murabba to the forefront of global innovation.”

He added: “Reflecting our commitment to the community and the environment, New Murabba has been designed in accordance with internationally established best practices and sustainability standards, incorporating green spaces, providing an extensive network of walking paths and promoting healthy living. Our goal is to make New Murabba a truly exceptional place to live, work, play, and visit. We will offer convenient access to a wide range of amenities and experiences that will enhance the lives of residents and visitors, fostering a sense of security and well-being. Accessibility is also a top priority for us, with New Murabba being just 20 minutes away from King Khalid International Airport by car. The Mukaab — a new architectural wonder — will, of course, serve as the centerpiece of New Murabba, redefining Riyadh’s skyline from the outside, while presenting a truly jaw-dropping experience within the inside.”

Established in 2022, NMDC is wholly owned by the Public Investment Fund, with its board of directors being chaired by Crown Prince Mohammed bin Salman.


MYNM’s Defender partners with Hero Balloon Flights in AlUla

MYNM’s Defender partners with Hero Balloon Flights in AlUla
Updated 29 May 2024
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MYNM’s Defender partners with Hero Balloon Flights in AlUla

MYNM’s Defender partners with Hero Balloon Flights in AlUla

Mohamed Yousuf Naghi Motors Co., the official distributor of Jaguar Land Rover products in Saudi Arabia, has signed a landmark partnership with Hero Balloon Flights, a subsidiary of Hero Experiences Group, the Kingdom’s first commercial hot air balloon operator, and the exclusive hot air balloon experience provider in AlUla. This collaboration is designed to enhance the guest experience in AlUla, one of the most enchanting and historic regions in Saudi Arabia.

AlUla, known for its rich history and stunning landscapes, now hosts an innovative experience that fuses tradition with modernity. This partnership will see the iconic Defender, renowned for its adventurous spirit and heritage, integrated into Hero Balloon Flights’ offerings. Guests will be transported in luxurious Defenders to enjoy breathtaking hot air balloon journeys over AlUla’s majestic canyons and UNESCO World Heritage Sites, such as the Hegra archaeological site.

Rhett Maxwell, managing director, MYNM Co. (Jaguar Land Rover), said: “The Defender, much like AlUla, is steeped in heritage, designed for adventure and embodies a legacy of endurance and exploration. Mohamed Yousuf Naghi Motors Co. is pleased to showcase the Defender’s capabilities in a setting that resonates with Jaguar Land Rover, with a shared heritage and a commitment to exceptional experiences. We are thrilled to offer guests of AlUla an unparalleled experience that combines the thrill of exploration with the utmost luxury and comfort of the Defender.”

Adam McEwan, co-founder and chief executive of Hero Experiences Group, highlighted the significance of the partnership: “The addition of the Defender to our fleet in AlUla rounds off the experience with that touch of luxury we are known for. The three key elements in this venture — AlUla, Defender, and Hero Experiences Group — are all passionate about adventure, culture, and heritage. That makes this the ideal partnership in an ideal location, giving us the opportunity to truly showcase what makes AlUla so special, enhanced by unique experiences in beautiful vehicles. We are extremely excited to partner with Mohamed Yousuf Naghi Motors Co. in this venture. We see this to be a long-term and fruitful relationship that will take the opportunities to discover AlUla to new heights, quite literally.”

The collaboration is more than a partnership; it is a celebration of the shared values of adventure and heritage. The Defender complements AlUla’s awe-inspiring beauty, offering a harmonious blend of the past and the present. 

Together, MYNM Co. and Hero Balloon Flights are committed to providing visitors with a truly memorable and unique experience that honors the spirit of exploration as well as the rich cultural tapestry of AlUla.


New Murabba opens partnership doors for Mukaab

New Murabba opens partnership doors for Mukaab
Updated 29 May 2024
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New Murabba opens partnership doors for Mukaab

New Murabba opens partnership doors for Mukaab

The New Murabba Development Company, owned by Saudi Arabia’s Public Investment Fund, is inviting the world’s leading contractors to take part in bringing its groundbreaking Mukaab to reality. An icon and cornerstone of Riyadh’s New Murabba mixed-use development, the Mukaab will feature the latest immersive technologies and will be one of the largest built structures in the world.

The year 2024 is primed to be a year of major progress for this landmark, with the excavation of nearly 5 million cubic meters of material, the award of the permanent piling works slated to commence in Q2 2024, and the tendering of the raft foundation and main works packages later this year — each marking a significant milestone in the destination’s progression.

“As part of its mission to deliver the Mukaab, New Murabba Development Company seeks to partner with contractors who uphold the highest standards of excellence, safety, worker welfare, sustainability, and innovation in all aspects of delivery,” a statement said.

“Applying contractors should share New Murabba’s bold vision, and be qualified to apply advanced approaches and methodologies that will ensure the development’s success and breathe life into the architectural marvel that the Mukaab represents.”

This invitation extends to globally recognized contractors specialized in large-scale construction developments that cover the full spectrum of the project delivery lifecycle, from the enabling work stage through to the construction and handover stages.

Additionally, New Murabba Development Company is seeking the interest of leading international, regional, and Saudi-based contractors specialized in long-span structural steel works, large-scale design-build façade developments, expansive public realm constructions, critical infrastructure, and pioneering technology developments.

Contractors interested in contributing to the delivery of this innovative destination, which symbolizes Saudi Arabia’s rich cultural heritage and commitment to innovation, are encouraged to visit the New Murabba Development Company website for more information.

“By partnering with New Murabba Development Company, contractors will have an outstanding opportunity to contribute to a development that is set to become an international symbol of architectural and construction excellence,” the statement said. “Partnering with New Murabba Development Company to bring the Mukaab to life will involve taking part in a legacy that will stand the test of time and inspire the Kingdom’s future generations,” it added.

Once completed, the Mukaab will be one of the largest built structures in the world, measuring 400 meters in height, width, and length.


Saudi Insurance & Financial Academy hold training course for journalists

Saudi Insurance & Financial Academy hold training course for journalists
Updated 29 May 2024
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Saudi Insurance & Financial Academy hold training course for journalists

Saudi Insurance & Financial Academy hold training course for journalists

Saudi Insurance, through its Media and Insurance Awareness Sub-Committee, and in collaboration with the Financial Academy, conducted a comprehensive training course titled “Insurance Industry for Media Community.” Held on May 26-27 at the Financial Academy’s head office in King Abdullah Financial District, Riyadh, the training course targeted journalists, reporters, editors, TV and radio presenters, and media professionals interested in covering the Saudi insurance market news.

The training course, led by Adel Al-Eisa, head of the Media and Insurance Awareness Sub-Committee, covered a number of essential topics. These included the definition and types of risks, the importance of insurance, different types of insurance products, governance in insurance and fraud prevention, and the roles of regulatory bodies in the Saudi insurance industry, including the Insurance Authority.

Al-Eisa said: “The media plays a crucial role in educating the public about the importance and benefits of insurance. Our goal with these training courses is to equip media professionals with the knowledge they need to accurately and effectively communicate the intricacies of the insurance industry to their audiences.”

Chief of Capabilities Development at the Financial Academy Mohammed Alhamazany, expressed the academy’s pride in participating in this initiative for the sixth year in a row.

“Enhancing understanding of insurance among media professionals is vital to enhancing transparency and trust in this key sector,” he said.

Alhamazany added: “The ‘Insurance Industry for Media Community’ training course forms part of a broader effort that began five years ago, as the Media and Insurance Awareness Sub-Committee organized several training courses within the framework of the program in different cities in Saudi Arabia to ensure widespread participation.”

He said that the Financial Academy is also working on building partnerships with local and international institutions to enhance the exchange of knowledge and expertise, ensuring the highest levels of efficiency and professionalism in the financial sector.

“The next training course is scheduled to be held soon in another region of the Kingdom, continuing the mission of educating and enhancing knowledge of the media community, thus enhancing the overall quality and accuracy of news coverage related to the Saudi insurance sector,” Alhamazany added.


Oppo teams up with football star Kaká for 2024 UEFA Champions League Final

Oppo teams up with football star Kaká for 2024 UEFA Champions League Final
Updated 29 May 2024
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Oppo teams up with football star Kaká for 2024 UEFA Champions League Final

Oppo teams up with football star Kaká for 2024 UEFA Champions League Final

To celebrate this year’s UEFA Champions League Final and its second year as the official global partner of the prestigious football competition, Oppo announced that it will be bringing its latest flagship Oppo Find X7 Ultra to Wembley Stadium. The phone will be used by official UEFA Champions League photographers to capture inspirational moments on and off the pitch and share them with fans around the world. 

“With Oppo smartphones, the non-stop excitement of football — whether captured through telephoto photography, portraits, or night scenes — becomes more than just a memory, but a collection of unforgettable moments to be shared with friends and family for years to come,” the company said.

As part of the celebrations, Oppo global brand ambassador Kaká once again plays a starring role in the brand’s “What A Shot” campaign and will meet with fans at the exclusive Oppo Hospitality Lounge in the Champions Village. 

Oppo will activate the Oppo Booth at Potters Field Park as part of the UEFA Champions Festival to create an unforgettable match-day experience for fans during the final.

“It’s been an honor to partner with Oppo and engage with fans through a whole series of offline and digital activities during the past two Champions League seasons,” said Kaká. “I’m super excited for this year’s final and I can’t wait to see who will be crowned champions of Europe this year.”

Earlier this month, Oppo rolled out the “What A Shot From You” social media campaign as part of the #OppoimagineIF Photography Awards, encouraging users around the world to share their most memorable moments through captivating photography. The campaign will also see selected photos taken to the big screen via the LED display inside Wembley Stadium during the UEFA Champions League Final.

Alongside the social media campaign, Oppo has invited Kaká to review and score the best shots in his football career and star in a new themed video “What A Shot.” 


Zain KSA to expand 5G on back of SR1.6bn Al-Rajhi deal

Zain KSA to expand 5G on back of SR1.6bn Al-Rajhi deal
Updated 28 May 2024
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Zain KSA to expand 5G on back of SR1.6bn Al-Rajhi deal

Zain KSA to expand 5G on back of SR1.6bn Al-Rajhi deal

Zain KSA, a provider of communications and digital services in Saudi Arabia, announced the signing of a supplier financing agreement worth SR1.625 billion ($433.3 million) with Al-Rajhi Bank to invest in expanding its 5G network and strengthening its infrastructure to support the business sector. This competitively rated financing solution will enable Zain KSA to expand its investments in its 5G network nationwide and enrich its portfolio with innovative digital solutions and applications targeting its individual and business users, ensuring they enjoy a top-notch digital experience.

Sultan bin Abdulaziz Al-Deghaither, Zain KSA’s CEO, said: “At Zain KSA, we adopt an integrated strategy, balancing between achieving our core goals of empowering our individual and business customers and providing them with cutting-edge technologies and digital solutions, along with maximizing value for our shareholders and investors. Simultaneously, our strategy supports our astute leadership’s ambitious Saudi Vision 2030 and its goal of achieving a nationwide sustainable digital transformation, marking the beginning of a new era of digital innovation across the Kingdom.

“Today, this competitively rated supplier financing agreement between Zain KSA and the nationally renowned Al-Rajhi Bank underscores our joint efforts to foster an enriched and inclusive digital experience across the Kingdom, mirroring Zain KSA’s strategy to provide exceptional customer experience and innovative services, including distinguished spiritual tourism services for pilgrims.”

Meanwhile, Waleed Al-Mogbel, CEO and managing director of Al-Rajhi Bank, said: “Our partnership with Zain KSA, the longstanding Saudi telecom leader, will open up new horizons for the development of the Kingdom’s telecommunications and digital services sector. At Al-Rajhi Bank, we are glad to be a key partner supporting Zain KSA’s ambitious goals and strategic plans for nationwide digital empowerment.”

Through targeted investments, Zain KSA aims to cement its role as a national champion, powering up the Kingdom’s digital capabilities and infrastructure. This translates to broader access to cutting-edge technology and digital services for everyone — individuals, businesses, and institutions — paving the way for a vibrant society and a thriving, knowledge-based economy.