Overview

• New Murabba Development Company designated South Korea as its top partner at a Seoul forum and signed an MOU with Naver Cloud Corp. on June 30.
• The agreement will support collaboration on robotics, autonomous driving and smart city platforms over the next three years.
• Company executives are in active discussions with additional South Korean firms to form consortiums and expand participation in the Riyadh development.
• CEO Michael Dyke said regional conditions have stabilized and that there is no slowdown in interest or long-term planning for the first phase scheduled for completion by 2030.
• Backed by the Public Investment Fund, the New Murabba megacity aims to build over 25 million square meters of residential, commercial and leisure space by 2040 under Saudi Vision 2030.