Crown Prince Mohammed bin Salman of Saudi Arabia announced the launch of the New Murabba Development Company, which will oversee the construction of a modern downtown in Riyadh by 2030. The company chaired by Crown Prince Mohammed bin Salman will develop the “world’s largest modern downtown in Riyadh,” which is expected to add $48 billion (SAR180 billion) to non-oil GDP and create 334,000 direct and indirect jobs, according to Saudi Press Agency (SPA).
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The city will be built with sustainability in mind, with green spaces and walking and cycling paths designed to encourage active lifestyles. It will also include a museum, a university of technology and design, a multipurpose immersive theater, and more than 80 entertainment and cultural venues.
The project, which will cover an area of 19 million square meters, is being developed in accordance with the Kingdom’s Vision 2030 goals and will be located at the intersection of King Salman and King Khalid roads to the northwest of Riyadh.
More than 104,000 residential units, 9,000 hotel rooms, and more than 980,000 square meters of retail space will be included in the development, in addition to 1.4 million square meters of office space, 620,000 square meters of leisure activity space, and 1.8 million square meters of community facilities.
It also hopes to incorporate a 15-minute city concept, in which residents will have easy access to living, working, and entertainment spaces.
The Mukaab is one of the development’s key projects. It has been described as an “iconic landmark featuring the latest innovative technologies” which will measure 400-meter-high, 400-meter-wide, and 400-meter-long.
Moreover, as the “world’s first immersive destination giving an experience developed by digital and virtual technology with the newest holographics,” the development is said to be influenced by the contemporary Najdi architectural style.
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