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Press Release | 5 November 2024
New Murabba Showcases Vision for Transformative Urban Development at FII 8th Edition
Riyadh, Saudi Arabia – 5 November 2024 - New Murabba, a Public Investment Fund (PIF) company, showcased its groundbreaking vision for urban development at the 8th Edition of the Future Investment Initiative (FII8). Held under the Royal Patronage of the Custodian of the Two Holy Mosques, King Salman Bin Abdulaziz Al-Saud, the conference themed “Infinite Horizons: Investing Today, Shaping Tomorrow” brought together global leaders to discuss investment strategies for a prosperous and sustainable future for the Kingdom of Saudi Arabia.
Michael Dyke, CEO of New Murabba, participated in a dynamic panel discussion focusing on the pivotal role of immersive experiences in shaping the future of urban living. He emphasized New Murabba’s ambition to create a world-leading destination that seamlessly blends cutting-edge technology with Saudi Arabia’s rich cultural heritage.
“New Murabba is creating a vibrant ecosystem where innovation and tradition come together,” said Dyke. “By leveraging technology and prioritizing sustainability, we are shaping a future where residents can be a part of the community, and visitors can experience the true essence of Saudi Arabia.”
Committed to developing the world’s largest modern and transformative downtown in Riyadh, New Murabba aligns with the city’s goal of becoming one of the world’s top ten most livable cities. The development embraces “born smart” principles, sustainability, and the 15-minute city concept. It will house over 400,000 people and encompass 27 million square meters of developed assets across 18 diverse communities. This thriving downtown environment will also offer 100,000+ homes, 9,000 hotel rooms, over half a million square meters of retail and entertainment, schools, hospitals, a 45,000-seat stadium, 4km2 of parkland, and 4km2 of dedicated infrastructure.
At the heart of New Murabba will stand The Mukaab, an architectural marvel set to be the world’s largest structure and a global icon. Inside, visitors will be transported to extraordinary new realities through the world’s largest immersive experience, spanning over 400,000 square meters and showcasing cutting-edge technologies. The Mukaab is poised to become a key driver of tourism and innovation, positioning Saudi Arabia at the forefront of the experience economy.
During FII8, Michael highlighted the development’s alignment with Saudi Vision 2030 and its contribution to economic diversification and urban development.
“New Murabba is a testament to our commitment to investing in innovative and sustainable urban development,” added Dyke. “We are creating a transformative destination that will not only enhance the lives of its residents but also contribute to the Kingdom’s economic prosperity and global standing.”
New Murabba represents a significant investment in Saudi Arabia’s future. The development will generate numerous employment opportunities, stimulate economic growth across various sectors, prioritize environmental sustainability, and enhance the quality of life for residents.
The FII 8th Edition served as an ideal platform for New Murabba to share its vision and engage with global leaders, investors, and innovators.
Michael Dyke, CEO of New Murabba, participated in a dynamic panel discussion focusing on the pivotal role of immersive experiences in shaping the future of urban living. He emphasized New Murabba’s ambition to create a world-leading destination that seamlessly blends cutting-edge technology with Saudi Arabia’s rich cultural heritage.
“New Murabba is creating a vibrant ecosystem where innovation and tradition come together,” said Dyke. “By leveraging technology and prioritizing sustainability, we are shaping a future where residents can be a part of the community, and visitors can experience the true essence of Saudi Arabia.”
Committed to developing the world’s largest modern and transformative downtown in Riyadh, New Murabba aligns with the city’s goal of becoming one of the world’s top ten most livable cities. The development embraces “born smart” principles, sustainability, and the 15-minute city concept. It will house over 400,000 people and encompass 27 million square meters of developed assets across 18 diverse communities. This thriving downtown environment will also offer 100,000+ homes, 9,000 hotel rooms, over half a million square meters of retail and entertainment, schools, hospitals, a 45,000-seat stadium, 4km2 of parkland, and 4km2 of dedicated infrastructure.
At the heart of New Murabba will stand The Mukaab, an architectural marvel set to be the world’s largest structure and a global icon. Inside, visitors will be transported to extraordinary new realities through the world’s largest immersive experience, spanning over 400,000 square meters and showcasing cutting-edge technologies. The Mukaab is poised to become a key driver of tourism and innovation, positioning Saudi Arabia at the forefront of the experience economy.
During FII8, Michael highlighted the development’s alignment with Saudi Vision 2030 and its contribution to economic diversification and urban development.
“New Murabba is a testament to our commitment to investing in innovative and sustainable urban development,” added Dyke. “We are creating a transformative destination that will not only enhance the lives of its residents but also contribute to the Kingdom’s economic prosperity and global standing.”
New Murabba represents a significant investment in Saudi Arabia’s future. The development will generate numerous employment opportunities, stimulate economic growth across various sectors, prioritize environmental sustainability, and enhance the quality of life for residents.
The FII 8th Edition served as an ideal platform for New Murabba to share its vision and engage with global leaders, investors, and innovators.
