PIF companies, New Murabba and Alat, have signed a Memorandum of Understanding (MoU) to explore the development and integration of advanced technology solutions to support the delivery of The Mukaab and other future technology requirements across New Murabba.
The collaboration focuses on cutting-edge innovations designed to deliver an unparalleled immersive experience. The partnership will cover the integration of multiple technologies to create a transformative digital environment that enables visitors to experience A Gateway to Another World. It will also explore advanced vertical transportation solutions, including next-generation elevator and escalator systems, to enable seamless and intelligent mobility across The Mukaab and other New Murabba developments.
The MoU will also explore optimal funding strategies for initial investments in hardware and R&D, while evaluating the feasibility of establishing reliable, flexible, and resilient production facilities within the Kingdom of Saudi Arabia. This will support the delivery of hardware and technology solutions aligned with New Murabba’s localization objectives and timelines for The Mukaab and other assets. Additionally, it will include how best to address warranty, maintenance, and post-installation technology upgrades.
Michael Dyke, CEO of New Murabba, said: “This MoU marks a major milestone in our journey to deliver New Murabba and The Mukaab. Our partnership with Alat underscores our commitment to harnessing next-generation technologies that deliver exceptional experiences and support the creation of a smart urban destination.”
Amit Midha, CEO of Alat, said: “The MoU with New Murabba marks a bold step toward shaping the future of tech-enabled urban living. By uniting Alat’s AI-driven hardware with New Murabba’s visionary approach, we aim to deliver intelligent infrastructure and transformative experiences that align with Saudi Arabia’s Vision 2030.”
This strategic collaboration between the two Public Investment Fund (PIF) companies reflects a shared commitment to advancing technology localization and developing a next-generation smart urban ecosystem. Aligned with PIF’s broader vision to drive innovation, economic diversification, and sustainable development, the partnership aims to enhance quality of life, accelerate digital transformation, and position Saudi Arabia as a global leader in future-focused innovation.
