The Public Investment Fund (PIF)-owned Saudi Downtown Company signed a Memorandum of Understanding (MoU) with the Ministry of Communications and Information Technology (MCIT) at the second edition of LEAP, a major international technology conference held annually in Saudi Arabia. The purpose of the MoU is to develop digital infrastructure and communication technologies.
The Saudi Downtown Company is committed to constructing and developing downtown areas and mixed-use destinations in 12 cities across Saudi Arabia, including Madinah, Alkhobar, Al-Ahsa, Buraidah, Najran, Jazan, Hail, Al-Baha, Arar, Taif, Dumat Al-Jandal, and Tabuk.
With a goal of developing over 10 million square meters of land across all projects, the company intends to create modern destinations that blend Saudi Arabia’s diverse local culture and traditional architectural motifs with cutting-edge technology.
The MoU was signed between Nayef bin Saleh Al-Hamdan, a member of the board of directors and acting CEO of Saudi Downtown Company, and Bassam bin Abdullah Al-Bassam, Undersecretary of MCIT for Communications and Infrastructure. The agreement marks a significant step in the development of advanced digital infrastructure and communication technologies in Saudi Arabia.
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