The world’s largest modern downtown, known as New Murabba, will soon be located in Riyadh, according to Saudi Arabia’s Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz. The project, which is expected to be finished by 2030, will be included to the kingdom’s list of 15 impending megaprojects that are expected to fundamentally alter the country. As part of Saudi Vision 2030, the New Murabba Development Company (NMDC) was established with the goal of creating the largest contemporary downtown in the world in Riyadh.
The establishment of NMDC is a component of PIF’s plan to diversify Saudi Arabia’s income streams while boosting local content, empowering the private sector, and advancing infrastructure development.
In order to house hundreds of thousands of individuals, the project will take up an area of 19 square kilometres. It will have over 80 entertainment and cultural venues, a renowned museum, a college of science and design, a multipurpose immersive theatre, and others.
More than 25 million square metres will be served by the New Murabba. 1 kilometre of living space, 104,000 homes, 9,000 hotels, 980,000 square metres of retail space, 1. 4 million square metres of business space, 620,000 square metres of recreational space, and 1.8 million square metres of communal spaces. The development will include a 15-minute walking radius, a 20-minute drive to the airport, and a private internal transportation system.
The region will be home to the Mukaab, a famous monument with cutting-edge technology that will be one of the tallest man-made structures in the world. It will be 400 metres high, 400 metres wide, and 400 metres long, taking on a cubic shape to maximise space usage. The Mukaab, the first immersive venue giving an experience generated by digital and virtual technology with the most recent holographics, is inspired by the contemporary Najdi architectural style.
The building will consist of a tower perched on a spiralling base and a 2 million square metre edifice with a variety of retail, cultural, and tourist attractions in addition to residential and hotel units, as well as business and commercial spaces, and recreational amenities.
According to Xinhua News Agency, which cited Saudi media sources, the downtown is estimated to contribute 180 billion Saudi riyals ($48.6 billion) in non-oil GDP when it is finished in 2030. 334,000 direct and indirect employment are predicted to be created as a result of the project.
One of the initiatives of Saudi Arabia’s sovereign wealth fund is the State Investment Fund intended to unleash the potential of promising industries and diversify revenue sources for the country’s oil-dependent economy through the creation of New Murabba Development Corporation.
