Riyadh, Saudi Arabia – December 20, 2023 – The New Murabba Development Company (NMDC) announces the appointment of Michael Dyke as its new Chief Executive Officer (CEO) effective January 8, 2024. Dyke brings a wealth of experience leading large-scale business enterprises and projects across multiple sectors and geographies and is currently a member of Balfour Beatty’s Group Executive Committee, responsible as Chief Executive Officer for the company’s interests in HS2, Europe’s largest infrastructure project.

NMDC was announced on 16 February, 2023. NMDC is currently in the development phase of New Murabba, a transformative urban development in Riyadh, Saudi Arabia. NMDC aims to create the world’s largest, modern, vibrant and sustainable downtown that will serve as a model for future urban development contributing to the city’s future development in line with Saudi Vision 2030.

“I am honored to be appointed CEO of the New Murabba Development Company and to have the opportunity to lead the development of Riyadh’s new downtown,” said Dyke. “And I’m confident that with the full support of all stakeholders and the hard work and dedication of our team, we will create a world-class destination that will benefit the people of Riyadh and Saudi Arabia for generations to come; as well as attracting international visitors.”

Acting CEO Sabah Barakat will continue to support NMDC from his role as Senior Director at PIF. NMDC thanks Mr. Barakat for the significant progress he has made in a short period of time. The company has achieved multiple milestones during this short period, including establishment of the core management team, development of the concept master plan, progressing the Mukaab design, awarding of 3 major project management contracts, commencement of the site works, and the excavation of over 2 million cubic meters of material at the Mukaab to date, the central icon at the heart of New Murabba.

About New Murabba Development Company

New Murabba Development Company (NMDC) is a joint venture with the Public Investment Fund (PIF) of Saudi Arabia. NMDC is responsible for the development of the New Murabba downtown, a transformative urban development in Riyadh, Saudi Arabia. The project aims to create a vibrant and sustainable city that will serve as a model for future urban living.

About Michael Dyke

Michael Dyke is a seasoned infrastructure Chief Executive, with over 35 years of experience leading large-scale business enterprises and projects across multiple sectors and geographies, having held senior positions at EDF, National Grid, Lend Lease, Skanska and Balfour Beatty, where he is currently a member of the Group Executive Committee, responsible as Chief Executive Officer for the company’s interests in HS2, Europe’s largest infrastructure project. Dyke is a recognized leader in the field of large-scale infrastructure and is passionate about people, customers and stakeholders, innovation and sustainability.

Notes to editors: For more information about the New Murabba Development Company, please visit: www.newmurabba.com

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