Anchored by a giant cube, Saudi Arabia's PIF reveals a $48bn New Murabba development in Riyadh

Posted on Mar 12, 2023 at 11:03 PM

The Public Investment Fund has claimed that the new downtown in Riyadh will have a large building that could accommodate 20 Empire State Buildings. This building, the Mukaab, is set to be the centrepiece of the New Murabba project, overseen by the New Murabba Development Company and announced by Crown Prince Mohammad bin Salman bin Abdulaziz.

The Mukaab will be one of the most significant structures in the world and will be designed in the modern Nadji architectural style, offering "ever-changing environments" through digital and virtual technology to create holographically. The cube-shaped structure will enclose a tower on top of a spiral base. It will contain 2 million sq. m of floor space, offering hospitality, retail, cultural, and tourist attractions, residential and hotel units, commercial areas, and recreational facilities.

Watch the following video from the Public Investment Fund (PIF) revealing the plan for such a giant project:

The New Murabba project, spanning an area of 19 sq km and located at the intersection of King Salman and King Khalid roads in the northwest of Riyadh, will also feature green spaces, walking and cycle paths, a museum, a technology and design museum, a theatre, and over 80 entertainment and cultural venues. The plan includes constructing 104,000 residential units, 9,000 hotel rooms, 980,000 sq m of retail space, 1.4 million sq m of office space, and 1.8 million sq m of community facilities.

Residents and visitors to New Murabba will enjoy living, working, and entertainment spaces within a 15-minute walking radius and a 20-minute drive to the airport. The entire project is expected to be completed by 2030.