Two Saudi companies backed by the Public Investment Fund (PIF), New Murabba and Alat, have signed an agreement to work together on new technology for The Mukaab and other smart city projects planned in Riyadh’s New Murabba district.
The agreement focuses on the deployment of next-generation innovations aimed at delivering an immersive and intelligent experience for visitors and residents. Among the areas of collaboration are cutting-edge digital environments, AI-driven infrastructure, and advanced vertical mobility systems, including future-ready elevators and escalators.
“This MoU marks a major milestone in our journey to deliver New Murabba and The Mukaab,” said Michael Dyke, CEO of New Murabba. “Our partnership with Alat underscores our commitment to harnessing next-generation technologies that deliver exceptional experiences and support the creation of a smart urban destination.”
The Mukaab is the centrepiece of the planned New Murabba development in Riyadh — a cube-shaped, immersive mixed-use structure touted as one of the most ambitious architectural projects in the Kingdom.
In line with Saudi Arabia’s Vision 2030, the agreement also seeks to identify optimal strategies for funding early-stage hardware investments and R&D. The two companies will assess the feasibility of establishing technology production facilities within the Kingdom to support localisation goals and deliver resilient, scalable hardware solutions.
“The MoU with New Murabba marks a bold step toward shaping the future of tech-enabled urban living,” said Amit Midha, CEO of Alat. “By uniting Alat’s AI-driven hardware with New Murabba’s visionary approach, we aim to deliver intelligent infrastructure and transformative experiences.”
The agreement also includes plans for long-term operational support, including post-installation upgrades, maintenance protocols, and warranty management for integrated systems.
The collaboration reflects a broader PIF strategy to position Saudi Arabia as a global hub for future-facing technologies, economic diversification, and sustainable urban development. Both firms described the deal as a strategic move toward building a world-class smart city ecosystem, with The Mukaab envisioned as a “Gateway to Another World.”
