New Murabba Signs MoU with the Tourism Development Fund

The MoU was signed by New Murabba Development Company CEO Michael Dyke and TDF chief executive Qusai bin Abdullah Al-Fakhri. - SPA
The MoU was signed by New Murabba Development Company CEO Michael Dyke and TDF chief executive Qusai bin Abdullah Al-Fakhri. - SPA
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New Murabba Signs MoU with the Tourism Development Fund

The MoU was signed by New Murabba Development Company CEO Michael Dyke and TDF chief executive Qusai bin Abdullah Al-Fakhri. - SPA
The MoU was signed by New Murabba Development Company CEO Michael Dyke and TDF chief executive Qusai bin Abdullah Al-Fakhri. - SPA

New Murabba Development Company (NMDC) signed a memorandum of understanding (MoU) with the Tourism Development Fund (TDF) to spearhead the transformation of Riyadh. The agreement will see the two entities work closely together to create New Murabba, the world’s largest modern downtown, serving as a model for future urban development and contributing towards Riyadh city’s evolution, in line with Vision 2030, SPA reported.

The MoU was signed by New Murabba Development Company CEO Michael Dyke and TDF chief executive Qusai bin Abdullah Al-Fakhri.

As part of the agreement, TDF will provide direct financing opportunities in collaboration with its network of partners and contracted investors, solidifying NMDC’s access to TDF’s expertise, networks, and investment capabilities.
The agreement is poised to unlock New Murabba's immense potential, placing Riyadh at the forefront of global destinations and showcasing the Kingdom of Saudi Arabia's commitment to innovative, sustainable urban development, cultural richness, and unparalleled visitor experiences on the world stage.
“We are pleased to have partnered with the New Murabba Development Company to bring this bold undertaking to life: an innovative undertaking that will enhance Riyadh’s status on the global stage as one of the commercial and financial capitals of the world,” TDF’s Al-Fakhri said. “This is a future-focused partnership that extends our efforts to work in a fully aligned manner with the private sector to create a greater, more prosperous Saudi Arabia.”
“In line with Vision 2030 and the National Tourism Strategy, our agreement with New Murabba Development Company marks the beginning of an exciting new chapter for Riyadh; one that adds to the richness of the Kingdom’s inspiring story of transformation,” the TDF chief said. “Together, we aim to create a modern downtown in the Saudi capital that provides even greater access to exceptional living, working, and entertainment experiences. Representing the very best of Saudi excellence, we believe New Murabba will attract tourists, as well as investors, to the Kingdom and improve citizens’ and residents’ quality of life.”
“New Murabba will be a gateway to the future,” NMDC’s Dyke said. “We are confident that our partnership with TDF will enable us to play a transformative role in diversifying sources of income for the Saudi economy, aligning seamlessly with the objectives of Vision 2030. Together, we will create groundbreaking opportunities that will not only elevate the Saudi tourism landscape but drive New Murabba to the forefront of global innovation.”



Saudi's flynas Strikes Deal for Additional Airbus A320neos, 15 A330s

Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
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Saudi's flynas Strikes Deal for Additional Airbus A320neos, 15 A330s

Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)

flynas, Saudi Arabia’s leading low-cost carrier, has signed a Memorandum of Understanding (MoU) with Airbus for 75 A320neo family aircraft and 15 A330-900. This strategic agreement will expand the airline's capacity, range and enhance its overall fleet capabilities.
Signed during Farnborough International Airshow in the presence of President of the General Authority of Civil Aviation (GACA) of Saudi Arabia, Abdulaziz bin Abdullah Al-Duailej, Chairman of the Board of NAS Holding Ayed Al Jeaid, flynas Chief Executive Officer & Managing Director Bandar Almohanna, and Airbus Chief Executive Officer, Commercial Aircraft, Christian Scherer, Airbus said on its website.
The new aircraft will join the carrier’s all Airbus fleet serving international, domestic and regional routes. The new A330-900 aircraft will boast a two-class configuration, accommodating up to 400 passengers.
"We are excited to further strengthen our long-standing partnership with Airbus," said Bander Almohanna, CEO and Managing Director of flynas. "The A320neo Family provides exceptional operational performance and environmental benefits, allowing us to offer unique, low-cost travel experiences. Additionally, the A330neowill enhance our long-haul capabilities with its advanced technology and efficiency while supporting our growth plans and Saudi Arabia’s pilgrim program."
Airbus Chief Executive Officer, Commercial Aircraft, Christian Scherer said, "We are delighted to expand our partnership with flynas through this significant milestone for both A320neo and A330-900 aircraft. The A330neo will allow flynas to further grow into widebody markets by building on the A320, benefiting from Airbus’ unique commonality. Both aircraft types offer flynas the perfect versatility and economics to expand into new markets while offering their passengers the latest cabin experience and comfort. We look forward to continuing our successful collaboration with flynas as they embark on this exciting new chapter."
The addition of the A330-900 aircraft will support flynas' ambitious growth plans. The airline anticipates significant operational efficiency gains by combining the new widebody aircraft with its existing A320neo fleet. The A330-900 offers increased capacity and range at unrivaled seat costs, ensuring flynas can compete effectively in the growing regional market, a key focus area for the airline.
The A330neo delivers unbeatable operating economics, powered by the latest-generation Rolls-Royce Trent 7000 engines, featuring new wings and a range of aerodynamic innovations resulting in a 25 percent reduction in fuel consumption and CO₂ emissions compared to previous generation competitor aircraft. The A330neo is capable of flying 8,150 nm / 15,094 km non-stop, providing ultimate comfort with more passenger space, a new lighting system, latest in-flight entertainment systems and full connectivity throughout the cabin.
As with all Airbus aircraft, the A330 family is already able to operate with up to 50% Sustainable Aviation Fuel (SAF). The manufacturer is targeting to have its aircraft up to 100% SAF capable by 2030.