Riyadh’s robust infrastructure and promising investment potential provides fertile ground for the new projects that are continuously being launched in the nation’s capital.
The recent launch by the New Murabba Development Company will add another unique project in line with the goals laid out by Saudi Vision 2030 which aims to make Riyadh one of the 10 largest economic hubs in the world.
Focus on sustainability
The New Murabba (Square) project's designs apply sustainability standards and aspire to improve the quality of life – providing green spaces, walking paths, sports outlets and community activities to promote a healthy lifestyle for its residents.
#مشروع_المربع_الجديد، أكبر داون تاون حديث في العالم. وفي وسط المشروع "#المكعب"، أيقونة فريدة والوجهة التفاعلية الأولى من نوعها على مستوى العالم.
The community will also host an innovative museum, a university specializing in technology and design, an integrated multi-use theatre, and more than 80 venues for live performances and entertainment.
The community will also host an innovative museum, a university specializing in technology and design, an integrated multi-use theatre, and more than 80 venues for live performances and entertainment.
New Murabba is located at the intersection of King Salman and King Khalid Roads northwest of Riyadh, over an area of more than 19 square kilometres.
It will provide more than 25 million sq m of floor area and a capacity to house hundreds of thousands of residents.
The project will also offer 104,000 residential units, 9,000 hotel units, over 980,000 sq m of commercial space, 1.4 million sq m of office space, about 620,000 sq m of entertainment facilities, and about 1.8 million sq m of community facilities.
New Murabba will also offer unique living, working, and entertainment experiences within a 15-minute walk radius of one another. It will be about a 20-minute drive from the airport and have an internal transportation system.
A global symbol
The New Murabba Development Company will build the Mukaab (Cubic) to be an icon that exemplifies Riyadh and a civilised global symbol.
It will feature never-before-seen innovative technologies and will be one of the most distinct landmarks in the world, standing 400 meters high, 400 meters wide, and 400 meters long.
The unique geometric shape of the Mukaab will provide the necessary space to accommodate the project's details and technologies.
The Mukaab's façade will incorporate the modern Najdi architectural style and with creative technical designs. It will provide an exceptional experiment created by digital and virtual holographic imaging technology.
A uniquely-designed tower will rise over the area, which will occupy a 2 million sq m of floor space that will be a quality hospitality destination with a multitude of retail, cultural, and tourist attractions, along with residential and hotel units, commercial spaces, and recreational facilities.
The capital will have a new jewel on its skyline that will be a residential, cultural, technology and entertainment hub.
The launch of the New Murabba Development Company comes in line with the Public Investment Fund's strategy aimed at unlocking the potential of promising sectors, empowering the private sector and increasing the size of local content, contributing to the development of real estate and local infrastructure projects, and diversifying the sources of income of the local economy.
The project will also contribute to supporting non-oil domestic production by up to 180 billion riyals ($48.00 billion) and creating 334,000 direct and indirect job opportunities. The New Murabba project is expected to be completed by 2030.
A pillar of economic strength
The New Murabba project is the new beating heart of Riyadh as it will become a pillar of economic strength.
Riyadh is one of the largest global capitals capable of attracting investments, capital, and leading international companies, creators, innovators, and investors.
The Saudi capital has enormous potential with its distinguished infrastructure, excellent purchasing power, and promising investment opportunities. All of these factors provide a solid foundation for the new project.
The Saudi capital has enormous potential with its distinguished infrastructure, excellent purchasing power, and promising investment opportunities. All of these factors provide a solid foundation for the new project.
Riyadh is also working on implementing a large set of qualitative projects in several sectors, such as industry, tourism, entertainment, culture, logistics, transportation, and technology.
In addition, Riyadh hosts the main headquarters for major international companies, and it is their first destination.
The prominent geographical location of Riyadh has grabbed the attention of investors, and the unique qualitative opportunities created by Saudi Vision 2030 have attracted major global companies and investors.
This comes at a time when Riyadh is actively hosting many high profile conferences and events such as the recently held Leap23 technology conference, as well as many economic, sporting, recreational, and cultural events that are taking place in this ambitious and dynamic city.
Job creation
Rarely can one find a city that encompasses investment, housing, technology, hospitality, entertainment, and culture, all at once. But the New Murabba project is on track to achieve this.
The project will create thousands of jobs, investment, creativity, and empowerment, starting from the preliminary design stage up to the stage of investment on the ground.
The project will be pivotal to the diversification of the economy and help it to continuously grow and exceed local and international projections.
Ahead of its completion in 2030, the project will offer exciting opportunities for companies, investors and entrepreneurs alike.
Companies involved in this project will definitely see a high return on their investment. In addition, all supply chains will benefit from the success of this project and the size of its investments.
