New Murabba Development Company (NMDC) has signed an agreement with Alat, a key entity of Saudi sovereign wealth fund PIF, to explore the development and integration of technologies supporting its mega project – Mukaab, the iconic centerpiece of New Murabba.

The MoU also covers potential future technology needs across the wider New Murabba downtown development, said NMDC. The agreement includes exploring vertical transportation solutions, such as elevators and escalators, to support mobility within the Mukaab and other New Murabba developments.

In addition, the MoU will explore optimal funding strategies for initial investments in hardware and research and development, while evaluating the feasibility of establishing production facilities within the kingdom, it stated.

“Together, we’re working to deliver truly immersive digital experiences, explore localised tech production within Saudi Arabia, and advance innovation that supports Vision 2030,” remarked Michael Dyke, CEO of New Murabba, after signing the deal with Alat CEO Amit Midha.

“This partnership reinforces our commitment to building a smart, future-ready destination that redefines how people live, connect, and experience urban life,” he added.

NMDC has also sealed a long-term partnership deal with Falcon’s Creative Group, a US leader in entertainment experience design, to develop the creative vision and immersive experiences for Mukaab.

This collaboration brings world-class expertise to one of the most ambitious mixed-use destinations ever conceived, remarked Dyke after signing the deal with Cecil D Magpuri, the CEO and co-founder of Falcon’s Beyond, the parent company of Falcon’s Creative Group.

“Together, we’re redefining how people live, explore, and engage with the urban world we know today, whilst re-imagining how we engage with another world tomorrow,” Dyke stated.