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Press Release | 17 May 2024

New Murabba: A Destination for the Future Saudi of Urban Development

New Murabba – a PIF company - one of the leading players in Saudi Arabia's giga-project landscape, solidified its commitment to shaping the future of Riyadh and global urban development at the recently concluded MENA Construction Summit Saudi Giga Projects 2024. 

The summit offered a comprehensive view of the US$880 billion giga projects program currently shaping Saudi Arabia. The event brought together key stakeholders from government entities, developers, contractors, and thought leaders within the construction ecosystem.  

New Murabba, Executive Director of Delivery, Salman Alhubeis, participated in the Keynote Leaders panel discussion titled "Update on the key development plans of Saudi giga projects" alongside other industry leaders.  

During the discussion, Alhubeis said: “New Murabba has already made significant progress in laying the groundwork for Mukkab, the iconic building that will be at the heart of the development. It has already excavated over 5 million cubic meters of material, signaling our intention to build momentum as an attractive proposition for investors."

We were fortunate to have in-depth contributions from other members of our team. Raymond Rice, Master Plan Delivery Division Head, expertly outlined the details of our New Modern Downtown. Thomas Nilsson, Executive Director of Delivery, also played a significant role by leading several engaging workshops. These workshops, focusing on the iconic structure Al Mukkab and the timetable for development, provided a platform for valuable discussions and insights. 

As the Kingdom's capital, Riyadh, the beating heart of the nation and population poised to surge to 10 million by 2030.  

New Murabba will give the city a new core downtown that will set new standards for quality of life and urban development in the region and beyond. 

New Murabba is the essence of the Saudi Vision 2030 by promoting sustainable development, fostering innovation, and creating a vibrant hub for residents, businesses, and visitors. New Murabba is one of the world’s first true 15-minute communities: when complete, every resident will be within a 15-minute walk of all major amenities, including schools, hospitals, shopping and mosques.  

"New Murabba isn't just about transforming a region in Riyadh – we’re redefining the entire concept of a modern downtown," said Michael Dyke, CEO of New Murabba. "Our vision is to create a place where vibrant communities live, work, and thrive, where everything is within easy reach. New Murabba has become so much more than a typical urban development by focusing on quality of life and a better future whilst acting as a gateway to another world.”  

New Murbba's participation at the Summit served as a platform to showcase the remarkable transformation underway in Riyadh. The city is witnessing significant growth and huge development, the New Murabba aims to create a vibrant, sustainable, and future-proof downtown district. 

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