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Sabah Barakat, Acting CEO, New Murabba Dev. Co. & Jacob Mumm, Senior VP, Bechtel, pose for formal photo at New Murabba's Signing Ceremony
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Press Release | 27 August 2023

New Murabba Signed An Agreement with Bechtel to Provide Project Management Services for The Masterplan and Site-Wide Infrastructure

New Murabba, a PIF company, participated in the Saudi-U.S. Investment Forum, held in Riyadh on May 13–14, alongside the official visit of U.S. President Donald Trump to the Kingdom.


During the forum, the CEO presented New Murabba’s vision and its ability to develop a one-of-a-kind destination, positioning the company as a pioneer in innovative urban development. Through its pavilion at the accompanying exhibition in Media Oasis, New Murabba offered a preview of Riyadh’s new modern downtown – a destination that seamlessly integrates modernity, sustainability, and advanced technologies.


The participation attracted strong engagement from attendees, including international media representatives who expressed significant interest in the ambitious urban planning initiatives that underscore Saudi Arabia’s forward-looking development vision.


At the Saudi-U.S. Investment Forum, New Murabba’s team delivered a comprehensive presentation outlining the destination’s key investment opportunities and reaffirmed the company’s commitment to fostering global partnerships and sustainable investments.
Michael Dyke, CEO of New Murabba, stated that New Murabba looks forward to capitalizing on the investment potential generated through its participation in both Media Oasis and the Saudi-U.S. Investment Forum.


New Murabba will feature iconic landmarks aligned with Riyadh’s bold vision for the future. This includes The Mukaab – the world’s largest built structure, inspired by Salmani architecture and enhanced with state-of-the-art holographic technologies to deliver immersive experiences. The development will also include the New Murabba Stadium – set to serve as a venue for the 2034 FIFA World Cup, with a seating capacity exceeding 45,000.

 

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