New Murabba Company Launched to Develop Modern Downtown in Riyadh

Saudi Arabia's Crown Prince Mohammed bin Salman announced today, February 16th, the launch of the New Murabba Development Company (NMDC), which will develop the world's largest modern downtown in Riyadh.

HRH #CrownPrince Announces New Murabba Development Company to Develop the World’s Largest Modern Downtown in Riyadh.https://t.co/vpP7GfLoGV#NewMurabba#TheMukaab#SPAGOV pic.twitter.com/QsohNb0AVy

— SPAENG (@Spa_Eng) February 16, 2023

The New Murabba project is due to be completed in 2030, and will be located at the intersection of King Salman and King Khalid roads to the northwest of Riyadh, in an area of 19 million square meters.

The city will offer 104,000 residential units, 9,000 hotel rooms, more than 980,000 square meters of retail space, 1.4 million square meters of office space, 620,000 square meters of space for leisure activities, and 1.8 million square meters of space for community facilities.

It will also feature green areas as well as walking and cycling paths in order to promote healthy and active lifestyles. 

A museum, a technology and design university, a multipurpose immersive theater, and over 80 entertainment and culture venues will also be developed as part of the project.

NMDC will also build the "Mukaab," an iconic landmark featuring the latest innovative technologies, which will stand 400 meters high, 400 meters wide, and 400 meters long.

The project is expected to add SAR 180 billion ($48 billion) to non-oil GDP and create 334,000 job opportunities.

Image source: @PIF_en Twitter account.