New Murabba Company has signed a memorandum of understanding (MoU) with the Ministry of Industry and Mineral Resources to enhance local content, empower national supply chains, and maximize the contribution of Saudi industrial products and local suppliers in the implementation of New Murabba destination projects.
Under the MoU, both sides will launch a number of joint initiatives aimed at strengthening local content in development projects and expanding the participation of local suppliers in New Murabba destination projects. The cooperation includes exchanging relevant knowledge and expertise and sharing the necessary information and data on local factories based on project needs, in line with applicable laws and regulations.
The MoU was signed by New Murabba Chief Corporate Services Officer Mamdouh Al-Quraishi and Acting Deputy Minister for Industrial Enablement Eng. Albadr Adel Fouda.
The MoU also includes assessing the readiness of national factories by providing a detailed list of qualified manufacturers, studying and analyzing factors related to product and supplier selection, and submitting recommendations to enhance the competitiveness of local products.
Al-Quraishi stressed that local industry is a key pillar in New Murabba’s mission, noting that the project has moved from the planning phase to the implementation phase. He explained that the MoU with the Ministry of Industry and Mineral Resources aims to deepen cooperation with Saudi factories, support local content and national supply chains in the real estate development sector, and ensure that the destination’s development directly contributes to achieving the Kingdom’s major economic ambitions.
The MoU reflects both sides’ efforts to develop local content and deepen its impact in strategic projects, strengthen integration to enable the local industrial sector to play an effective role in future urban development projects, and open new opportunities for national factories to contribute to building a globally competitive urban destination grounded in sustainability and innovation.
