The latest project in Saudi Arabia’s Crown Prince Mohammed bin Salman move to diversify the country’s economy from oil revenue is the New Murabba Development Company, which plans to expand downtown Riyadh by 19 square kilometres with yet another city of the future to be built in the Gulf Arab state.
Similar to the other projects included in the Saudi Vision 2030, the New Murabba is scheduled for completion by 2030, in time for the World Expo, which the country has bid to host. The launch of Riyadh’s new district falls under Saudi Arabia’s Public Investment Fund’s (PIF) strategy to unlock the capabilities of promising sectors, enable the private sector and increase local content, contribute to the development of real estate projects and the local infrastructure and diversify sources of income for the Saudi economy. It is expected to add SAR180 billion to non-oil GDP and ($48 billion) create 334,000 direct and indirect jobs by 2030.
The New Murabba project will be built around the concept of sustainability by featuring green areas and walking and cycling paths that will enhance the quality of life by promoting healthy lifestyles and community activities.
Public Investment Fund of Saudi Arabia
The New Murabba, which plans to offer a home to hundreds of thousands of residents, will feature a museum, a technology and design university, a multipurpose immersive theatre, and more than 80 entertainment and cultural venues. Over 25 million square kilometres of floor area will be split between 104,000 residential units, 9,000 hotel rooms, 980,000 sqm of retail space, 1.4 million sqm of office space, 620,000 sqm of leisure assets and 1.8 million sqm of community facilities.
The highlight of the newly built district of the capital will be the Mukaab, a cube shaped skyscraper, 400 meters high, 400 meters wide and 400 meters long. The cubic shape is meant to ensure the ultimate utilization of space to accommodate the technologies necessary to develop the building. When completed, it will be one of the largest built structures in the world and aims to be “the world’s first immersive destination offering an experience created by digital, virtual and the latest holographic technologies”, PIF informed in a statement.
Inspired by the modern Najdi architectural style, the Mukaab will encompass a tower atop a spiral base and a structure featuring 2 million sqm of floor space that will be a premium hospitality destination with a multitude of retail, cultural and tourist attractions, along with residential and hotel units, commercial spaces and recreational facilities.
