MOMAH, Panda Retail sign MoU to cooperate on public park investment

Ministry of Municipalities and Housing (MOMAH) headquarters

The Ministry of Municipalities and Housing (MOMAH) signed a joint memorandum of understanding (MoU) with Panda Retail Co. to strengthen cooperation in developing, managing, and operating public parks and municipal spaces.

The initiative is expected to contribute to improving the urban landscape, expanding green spaces across Saudi cities, and enhancing quality of life, in line with the objectives of Vision 2030, according to SPA.

Inked on the sidelines the Cityscape Global 2025, the MoU includes several areas of collaboration. This includes studying investment opportunities in public parks — both existing and new ones — and developing suitable investment models for their operation, maintenance, and management, in accordance with relevant regulations and guidelines.

It also covers evaluating potential sports, entertainment, cultural, and social events that can be hosted in local public parks and municipal spaces to enhance their economic and social impact.

Additionally, the agreement involves exploring opportunities to invest in at least 30 public parks during the term of the MoU, preparing preliminary designs for these parks, identifying challenges faced by the private sector in areas such as operations, financing, and regulation, and developing solutions that enhance the efficiency and sustainability of such investments.