Riyadh: The Ministry of Municipalities and Housing signed a memorandum of understanding (MoU) with Panda Retail Company at Cityscape Global 2025, in the presence of Vice Minister of Municipalities and Housing Ihab Hashani. The MoU aims to strengthen the partnership between the two sides in developing, managing, and operating public parks and municipal squares. This will contribute to improving the urban landscape, increasing green spaces in Saudi cities, and raising the quality of life in line with the goals of Saudi Vision 2030. According to Saudi Press Agency, the MoU includes cooperation in studying investment opportunities in public parks, both existing and new, and developing suitable investment models for their operation, maintenance, and management in accordance with regulations and instructions. It also includes evaluating sports, recreational, cultural, and social events that can be held within parks and municipal squares to enhance their economic and social impact. The memorandum includes studying investment opportunities for at least 30 public parks during the agreement period, preparing initial designs for them, identifying the challenges facing the private sector in operation, financing, and regulation, and working to provide solutions that contribute to raising the efficiency and sustainability of municipal investments.
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