Saudi Downtown Company, a fully-owned subsidiary of the Public Investment Fund that will develop downtown projects and destinations in 12 Saudi cities, signed MoUs with the Gas Solutions Company, the National Water Company, RedSea, Badia Farms Agriculture Company, and Mowreq Specialized Agriculture. The five MoUs were signed during the PIF Private Sector Forum in Riyadh.
“Saudi Downtown Company’s vision is to be the partner of choice for enhancing the attractiveness and competitiveness of our cities, creating a vibrant society and a thriving economy. The company is keen on collaborating and partnering with the private sector and the local business community through a diverse portfolio of opportunities across 12 Saudi cities.” Said Naif Alhamdan, Board Member and Acting CEO of Saudi Downtown Company. “The MoUs will allow for more collaboration with five leading companies for planning and discussing our infrastructure requirements and the implementation of new agriculture technologies.” He added.
The first MoU was signed with Eng. Samer Turk, CEO of the Gas Solutions Company, to discuss collaboration in the liquefied petroleum gas (LPG) network and services in Saudi Downtown Company projects, including conducting relevant studies and exchanging expertise and best practices in facilities management. Gas Solution Company, a wholly-owned company by the National Gas and Industrialization Company (GASCO), specializes in designing and installing gas systems and providing solutions and consultancy for LPG supply services.
The second MoU was signed with Eng. Mansour Abuthnain, VP of Projects and Technical Services in the National Water Company, to discuss plans for water and sewage services and solutions for Saudi Downtown Company projects in 12 cities across the Kingdom. The MoU paves the way for a strategic partnership and more alignment on future plans and requirements.
The third MoU was signed with Mr. Mahmoud Abduljawad, General Manager of RedSea, to discuss designing, building, and operating greenhouses with RedSea’s ground-breaking sustainable agriculture technologies. RedSea, owner of Red Sea Farms produce brand, is an agriculture science and technology company developing the world’s most advanced platform for hot climate agriculture. This MoU paves the way for collaboration utilizing RedSea’s world-class expertise for niche low-water and low-energy agriculture technologies to feed local communities and thereby promoting healthy urban lifestyles.
The fourth MoU was signed with Eng. Omar Al Jundi, CEO of Badia Farms Agriculture Company, a Saudi agriculture technology company that focuses on the development and production of different varieties of produce and plants using innovative farming technologies and techniques. The MoU paves the way for further collaboration discussions to promote sustainable farming and healthy living.
The fifth MoU was signed with Mrs. Dana Qaiss Enany, Co-founder and General Manager of Mowreq Specialized Agriculture. The company specializes in vertical farming that focuses on producing agricultural products within the cities, optimizing land space by using the most advanced technologies to produce distinctive high quality and pesticide-free products. The farming also saves more than 90% of water consumption in comparison to conventional farming. The company is currently adopting the design and construction of the largest vertical farm in the Middle East in the city of Riyadh using the second generation of vertical farming. The MoU is about rolling out unique vertical farms within some of Saudi Downtown Company locations.
Objectives of the forum and the collaboration with the private sector are in line with the strategy of Saudi Downtown Company that aims to play a role in enhancing the quality of life, catalyzing economic activity, and creating new opportunities in Saudi cities for residents, visitors and businesses. Saudi Downtown Company will develop modern downtowns and destinations in 12 Saudi cities, namely Al-Madinah Al-Munawarah, Al-Ahsa, Al-Khobar, Buraydah, Al-Taif, Arar, Hail, Tabuk, Dumat Al-Jandal, Jizan, Najran, and Al-Baha.
