Riyadh – Sharikat Mubasher: New Murabba, a company owned by Saudi Arabia’s Public Investment Fund (PIF), signed a memorandum of understanding with global technology firm Honeywell to support the development of the New Murabba destination, including the iconic Mukaab project.

According to a recent press release, the agreement aims to accelerate digital transformation and smart infrastructure across the site, aligning with Vision 2030 and PIF’s broader goals of enabling private sector participation and enhancing local content.

Signed by Mamdouh Al-Quraishi, Chief Corporate Services Officer at New Murabba, and Abdullah Al-Juffali, President of Honeywell Saudi Arabia and Bahrain, the MoU sets a framework for leveraging Honeywell’s automation solutions, including consulting, implementation, and digital systems.

Michael Dyke, New Murabba CEO, described the partnership as a step toward creating an innovative urban center in Riyadh, saying it will help deliver a smart, future-ready downtown that embodies the Kingdom’s vision for modern cities.