MOMAH signs an MoU with the INFRA and "SEDCO Capital" to develop and invest in public parks

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Under the patronage of His Excellency the Minister of Municipalities and Housing, Mr. Majed bin Abdullah Al-Hogail, and His Excellency the Minister of Economy and Planning, Chairman of the National Infrastructure Fund (INFRA), Mr. Faisal F. Alibrahim, the Ministry of Municipalities and Housing signed a Memorandum of Understanding with both the National Infrastructure Fund and SEDCO Capital.

The MoU aims to study the establishment of an investment fund dedicated to investing in public parks, contributing to enhancing their investment appeal, improving the quality of services provided, and increasing private sector participation in developing infrastructure and enhancing its sustainability.

The Minister of Municipalities and Housing emphasized that signing this MoU represents an important step in strengthening partnership with the private sector and developing public parks as one of the key elements in improving the urban landscape of Saudi cities. He noted that the Ministry is working to provide an attractive investment environment in line with the objectives of Vision 2030.

For his part, the Minister of Economy and Planning explained that this MoU is a promising strategic step to stimulate investment in public parks, aiming to enhance quality of life and promote the sustainability of Saudi cities, in line with Vision 2030 objectives, and reinforcing the Fund’s role in supporting the municipal sector and improving service quality.

His Excellency the Deputy Minister of Municipalities and Housing, Mr. Ihab Ghazi Al-Hushani, stated that this MoU is part of the Ministry’s efforts to innovate new investment models in the public parks sector, enabling broader private sector participation and supporting the sustainability of urban infrastructure. He stressed that qualitative partnerships with investment entities contribute to diversifying opportunities and achieving balanced development across the Kingdom’s cities.

Under the MoU, efforts will be made to create innovative investment models that support the Kingdom’s investment environment by studying the establishment of an investment fund that allows private sector investors to participate in developing public parks across different regions of the Kingdom.

This collaboration reflects the parties’ commitment to advancing sustainable urban development and expanding investment opportunities in a vital sector that directly impacts community life and the urban environment of Saudi cities.

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