Riyadh: New Murabba, a Public Investment Fund (PIF) company, signed a memorandum of understanding (MoU) with the Ministry of Sport at the company’s headquarters in Riyadh today. The agreement aims to foster cooperation and integration between the two parties in the sports sector.

According to Saudi Press Agency, the MoU was signed by CEO of New Murabba Michael Dyke and Assistant Minister for Sport Affairs at the Ministry of Sport Adwaa bint Abdulrahman Al-Arifi.

Under the agreement, the Ministry of Sport will support the launch of New Murabba sports initiatives by providing technical expertise in managing sports facilities, organizing sporting events, facilitating the issuance of necessary licenses and approvals, and developing tailored training programs to nurture local talent.

This strategic collaboration reflects the shared commitment of both parties to advancing the development of Saudi Arabia’s sports sector through impactful projects and initiatives that contribute to achieving the goals of Saudi Vision 2030.