MBC Group and Neom to form a joint venture.

Media company MBC Group and diversified holding company Neom, agreed to form a joint venture to establish the first AAA games development studio in the region. Financial terms were not disclosed. “The future that NEOM envisions is being achieved through effective partnerships with various specialized entities. This is reflected in our agreement with MBC to establish a AAA gaming studio in NEOM. We know there is a growing convergence between gaming and the media sector more broadly, so by building one we are helping the other grow. Establishing this studio creates future-proof career paths and job opportunities in an environment that fosters creativity, entrepreneurship and talent development, in line with Saudi Vision 2030. We are now developing promising opportunities locally, regionally and globally by nurturing the Saudi game-development market," Nadhmi Al-Nasr, Neom CEO.