Riyadh Municipality launches Remat Al-Riyadh as PPP development arm

Logo of Remat Al-Riyadh Development Co.

Prince Faisal bin Ayyaf, Mayor of Riyadh Region, inaugurated today, July 25, Riyadh Municipality’s development arm, Remat Al-Riyadh Development Co., to be the strategic enabler of public-private partnerships (PPPs).

The new company's activities are based on three main sectors, namely urban development, as well as municipal asset management and services, in a bid to improve quality of services and municipal projects, improve customer experience and achieve their satisfaction, the Saudi Press Agency (SPA) cited the official as saying.

Prince Faisal, who is also the company’s chairman, confirmed that Remat Al-Riyadh will contribute to accelerating development plans for the Riyadh region and improving residents’ lifestyle. Given that Riyadh is deemed full of great and promising opportunities, the firm will contribute to promoting this growth by involving the private sector in the municipal sector, as it aspires to be one of the top development companies in the municipal sector.

He added that the company aims to boost the level of municipal services and contribute to the creation of a vibrant society that enables achieving economic and social development for the Riyadh region.

Abdullah Abudawood, Remat Al-Riyadh CEO, said the new company seeks to contribute to making Riyadh an ideal and successful model by developing and shaping the future of the municipal sector. This will come under strategic priorities that are aimed at providing quality projects and services to help in the prosperity of the region, improving quality of life, achieving financial sustainability and developing attractive and innovative business models in partnership with the private sector.

Remat Al-Riyadh will work to promote achieving sustainable and balanced urban development in Riyadh, while improving the level of municipal services offered, which will contribute to enhancing the lifestyle and making Riyadh an ideal and successful model in the field of comprehensive and sustainable urban renaissance. This is besides the ongoing efforts to improve the urban landscape, in line with the capital’s identity and long-standing history.