New Murabba Development Co - The New Murabba

General Information
Owner New Murabba Development Co
Masterplan Project (Parent Profile)
Location Riyadh, Riyadh Province, Saudi Arabia
Status --
Sector Construction, Mixed-Use, Mixed-Use
Contract Type Build
Onshore/Offshore Onshore
Greenfield/Brownfield Greenfield
Progress 0
Estimated Budget Value ---
Contract Value 0
Net Value $47000m
Award Date September 2024
Completion Date November 2030
Last Updated On March 2023
ProjectId (Old, New) 401486, 401486

New Murabba Development Company (NMDC), a wholly owned company by PIF, is planning to undertake the development of the New Murabba project, the world’s largest modern downtown in Riyadh. 

This will spread over 19 square kilometres areas located at the intersection of King Salman and King Khalid roads to the North West of Riyadh approximately a 20-minute away from the the airport. The new development will have its own internal transport system and will be built around the concept of sustainability to enhance the quality of life for citizens. Murabba will have the “Mukaab”, an exceptional iconic landmark at the heart of New Murabba, which will feature the latest innovative technologies and provide the world with a first of its kind experience. The Mukaab will attract visitors from across the world with its incredible state of the art entertainment, dining and retail.  

The US$50,000 million project includes the following:

1. Construction of a mixed-use development (25 million sqm floor area)

2. Construction of residential area (104,000 units)

3. Construction of hotel towers (9,000 rooms)

4. Construction of retail space (980,000 sqm)

5. Construction of office space (1.4 million sqm)

6. Construction of iconic museum

7. Construction of entertainment and leisure facilities (620,000 sqm)

8. Construction of community facilities (1.8 million)

9. Construction of Technology and design university

10. Construction of multipurpose theater

11 Construction of entertainment and culture venues (80 nos.)

12. Construction of Mukaab (400m high, 400m wide, and 400m long) 2 million sqm of floor space

13. Construction of Opera House

14. Construction of museum

15. Green areas

16. Walking and cycling path

17. Infrastructure works

18. Construction of associated facilities

Second Section

23 March 2023

Atkins and Burohappold are the masterplan consultant on the project. (Source: MEED)

06 March 2023

Market sources indicate that Atkins is the masterplan consultant on the project.  

03 March 2023

The project has been announced.