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Press Release | 31 May 2024

New Murabba Partnership Forum Sets Stage for Transformative Collaboration

Riyadh, Saudi Arabia – 31 May 2024 – New Murabba Development Company, owned by the Public Investment Fund, recently hosted the anticipated New Murabba Partnership forum at the Intercontinental Durrat Al Riyadh on May 28-29. This landmark event convened a diverse group of vendors and partners to explore the vast opportunities within this groundbreaking destination, set to become the most transformative downtown in Riyadh. 
 
The forum provided a platform for in-depth discussions and collaboration on the future of New Murabba. Attendees were presented with a comprehensive overview of the visionary masterplan, which set the stage for the transformation of downtown Riyadh. The masterplan outlines the development's ambitious goals, including developing a world-class smart city with innovative infrastructure, cutting-edge technology, and sustainable practices. 

The inaugural New Murabba Partnership forum unveiled this revolutionary destination's ambitious scale and timeline. With full operations commencing in 2025, New Murabba will feature 18 unique communities surrounding the iconic Mukaab. The New Murabba Development Company is actively pursuing Public-Private Partnerships (PPP) to develop essential utilities, transportation, and social infrastructure to achieve this vision. 
 
The company also announced an upcoming smart cities implementation study, set to be released within six months. This comprehensive study will focus on developing an innovative hub for seamless mobility by integrating autonomous vehicles, robotic parking, and EV recharging. Furthermore, it will explore renewable energy solutions, urban-specific energy efficiency, and cutting-edge technology for food production, including vertical farms and sustainable farming practices. 
 
On the forum's second day, Mukaab took center stage, an extraordinary destination that promises to transcend dimensions and captivate all who enter. This architectural marvel is a 400-meter cube featuring a central tower with state-of-the-art technology experiences and four corner towers, all beneath a 330-meter-diameter dome soaring 357 meters high. Mukaab is envisioned as an iconic landmark, a symbol of Riyadh, and a place where visitors and residents can forge a deep connection with the city. 

"We are thrilled with the overwhelming response to the New Murabba Partnership forum," said Michael Dyke, CEO of New Murabba Development Company. "The forum was a resounding success in bringing together a diverse group of partners and stakeholders who share our vision for the future of Riyadh. We are confident that this collaborative effort will make New Murabba a world-class destination, driving economic growth and enhancing the quality of life for all." 

 

New Murabba represents a significant investment in Riyadh’s future, and the Partnership forum underscored the importance of collaboration in bringing this vision to life. By engaging with vendors and partners early in the process, New Murabba aims to foster a transparent and efficient procurement process that will enable the timely delivery of this world-class destination. 

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