Saudi Investment Ministry inks MoU with Wemade to foster gaming industry in KSA 

The move is part of the Ministry of Investment’s strategy to join forces with international companies to streamline investment and expansion initiatives in Saudi Arabia. (Shutterstock)
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Updated 26 April 2023
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Saudi Investment Ministry inks MoU with Wemade to foster gaming industry in KSA 

RIYADH: Saudi Arabia’s esports industry will gain a major boost as the Kingdom has signed a memorandum of understanding with the South Korean firm Wemade to foster its ambition to become a global gaming hub by 2030.  

The partnership between the Ministry of Investment of Saudi Arabia and Wemade — the developer behind the global blockchain gaming platform WEMIX PLAY — will see the South Korean firm expanding its presence to accelerate the gaming industry in the Kingdom.

The move is part of the Ministry of Investment’s strategy to join forces with international companies to streamline investment and expansion initiatives in Saudi Arabia as the Kingdom looks to diversify its energy-based economy under Vision 2030.   

“This progress would be yet another step further into realizing the national objective of becoming a hub for gaming and esports in line with the National Gaming and Esports Strategy,” said a Ministry of Investment representative in a statement.  

This development comes as the ministry aims to facilitate business opportunities for foreign entities in the Kingdom by providing arrays of services and networks to leading players in the local ecosystem.

“The MoU and partnership with MISA (Ministry of Investment of Saudi Arabia) mark a significant milestone for Wemade’s expansion plans in Saudi Arabia,” said Henry Chang, CEO of Wemade.   

He added that it demonstrates their sustained ambition to collaborate with leading strategic partners throughout the Middle East and North Africa region.  

In January, the company established its offices in Abu Dhabi with plans to collaborate with local projects and companies.   

The partnership with the Ministry of Investment comes in the backdrop of Wemade’s participation at the Saudi-Korea Investment Forum in November 2022, where it held meetings with Saudi Arabia’s Investment Minister Khalid Al-Falih and other Saudi officials.   

This resulted in a collaboration between Wemade and Savvy Games Group’s Nine66 in February for exploring various programs aimed at training, educational content, localization of games and sponsorship of regional events.  

In the first week of April, Savvy Games, wholly owned by the Public Investment Fund, signed an agreement to acquire US-based gaming company Scopely for $4.9 billion.   

Saudi Arabia is on its way to becoming a gaming hub, and the most important move toward that goal was taken in September 2022, when the Kingdom’s crown prince, Mohammed bin Salman, established the Savvy Games Group plan. 


New Murabba seeks contractors for Mukaab Towers fit-outs: MEED

Updated 28 January 2026
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New Murabba seeks contractors for Mukaab Towers fit-outs: MEED

RIYADH: Saudi Arabia’s New Murabba Development Co., a wholly owned subsidiary of the Public Investment Fund, has issued a request for information to gauge the market for modular and offsite fit-out solutions for its flagship Mukaab development, MEED reported on Wednesday.

The RFI was released on Jan. 26, with submissions due by Feb. 11. NMDC has also scheduled a market engagement meeting during the first week of February to discuss potential solutions with prospective contractors.

Sources close to the project told MEED that NMDC is “seeking experienced suppliers and contractors to advise on the feasibility, constraints, and execution strategy for using non-load-bearing modular systems for the four corner towers framing the Mukaab structure.” The feedback gathered from these discussions will be incorporated into later design and procurement decisions.

The four towers — two residential (North and South) and two mixed-use (East and West) — are integral to the Mukaab’s architectural layout. Each tower is expected to rise approximately 375 meters and span over 80 stories. Key modular elements under consideration include bathroom pods, kitchen pods, dressing room modules, panelized steel partition systems, and other offsite-manufactured fit-out solutions.

Early works on the Mukaab were completed last year, with NMDC preparing to award the estimated $1 billion contract for the main raft works. This was highlighted in a presentation by NMDC’s chief project delivery officer on Sept. 9, 2025, during the Future Projects Forum in Riyadh.

Earlier this month, US-based Parsons Corp. was awarded a contract by NMDC to provide design and construction technical support. Parsons will act as the lead design consultant for infrastructure, delivering services covering public buildings, infrastructure, landscaping, and the public realm at New Murabba. The firm will also support the development of the project’s downtown experience, which spans 14 million sq. meters of residential, workplace, and entertainment space.

The Parsons contract follows NMDC’s October 2025 agreements with three other US-based engineering firms for design work across the development. New York-headquartered Kohn Pedersen Fox was appointed to lead early design for the first residential community, while Aecom and Jacobs were selected as lead design consultants for the Mukaab district.

In August 2025, NMDC signed a memorandum of understanding with Falcons Creative Group, another US-based firm, to develop the creative vision and immersive experiences for the Mukaab project. Meanwhile, Beijing-based China Harbour Engineering Co. completed the excavation works for the Mukaab, and UAE-headquartered HSSG Foundation Contracting executed the foundation works.