The Ministry of Municipalities and Housing and Panda Retail Company sign a memorandum of understanding to develop investments in public parks and enhance the quality of life in Saudi cities.

Monday 08 June 2026
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The Ministry of Municipalities and Housing signed a joint memorandum of understanding with Panda Retail Company, as part of the activities of the “Cityscape Global 2025” exhibition, which is being hosted by the city of Riyadh during the period from November 17 to 20, with broad local and international participation in the real estate and housing development sector, in the presence of His Excellency the Deputy Minister of Municipalities and Housing, Mr. Ehab bin Ghazi Al-Hashani.

The Ministry of Municipalities and Housing was represented in signing the agreement by the Undersecretary for Allocation and Financial Sustainability, Engineer Abdulmajeed bin Abdulrahman Al-Askar, while Panda Retail Company was represented by its CEO, Dr. Bandar Talat Hamouh.

The memorandum aims to enhance the partnership between the Ministry of Municipalities and Housing and Panda Retail Company in developing, managing and operating public parks and municipal squares, which contributes to improving the urban landscape, increasing green spaces in Saudi cities, and raising the quality of life within the objectives of Saudi Vision 2030. .

The memorandum includes cooperation in studying investment opportunities in public parks, both existing and non-existent, and developing appropriate investment models for their operation, maintenance, and management in accordance with regulations and instructions. It also includes evaluating sports, recreational, cultural, and social events that can be held within parks and municipal squares to enhance their economic and social impact. .

The memorandum also includes studying investment opportunities in at least 30 public parks during the agreement period, preparing initial designs for them, identifying the challenges facing the private sector in the areas of operation, financing and regulation, and working to provide solutions that contribute to raising the efficiency and sustainability of municipal investments. .

The signing of this memorandum comes within the framework of the Ministry of Municipalities and Housing’s efforts to activate partnerships with the private sector, support financial sustainability and privatization programs, and promote urban development through quality investments that contribute to building more vibrant and attractive cities, and achieve the community’s aspirations for a sustainable urban environment and a better quality of life in various regions of the Kingdom.

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The Kingdom of Saudi Arabia