Saudi Arabia’s New Murabba project moves forward with groundwork and investor interest
Saudi Arabia’s ambitious New Murabba project in Riyadh is making significant strides, with excavation and groundwork nearing completion and construction set to begin in the summer. Michael Dyke, CEO of the New Murraba Development Company, shared insights with Real FDI editor Courtney Fingar at MIPIM 2025, highlighting the project’s rapid progress and growing international investor interest.
Set to be completed by 2030, New Murabba will offer a dense, vibrant downtown experience, housing 20,000 people per square kilometre — five times the density of Riyadh’s current urban areas. Designed with seamless transit connections, including metro and express rail links, the district will integrate smoothly into Riyadh’s expanding infrastructure.
New Murabba aims to transform Riyadh’s urban landscape, with its centre piece being The Mukaab, a 400-metre cubic landmark set to become one of the largest built structures globally. Dyke confirmed that excavation beneath The Mukaab has been completed, with nearly 40 million cubic metres of material removed and repurposed within the site to minimise landfill waste. With piling well underway, the next phase involves laying the structural base, which will provide a stable foundation for vertical construction.
“If you’re physically creating not only one of the coolest places on the planet, but the world’s largest structure ever known to man and woman, you must do a lot of the ground before you start to come out into the air,” Dyke said.
Beyond real estate, New Murabba is integrating cutting-edge technology and AI-driven experiences. Dyke revealed that by the end of 2024, a major technological breakthrough is expected for the immersive display systems within The Mukaab. The project is in discussions with holography firms to establish the world’s first dedicated holography centre in Riyadh, alongside AI-driven urban experiences. A prototype facility is nearing completion, where interactive AI and holography will be tested before full-scale implementation.
With Saudi Arabia positioning itself as a major investment hub, Dyke emphasised that New Murabba is attracting diverse investors across real estate, technology, and infrastructure. The development will feature 100,000 residential units, 10,000 hospitality rooms, and up to 700,000 sq m of retail space, making it one of the most significant urban expansions globally. Investor confidence is bolstered by the project’s master plan approval, ensuring long-term stability and high returns.
Sustainability is at the core of New Murabba’s design, benefiting from a greenfield site that allows smart infrastructure to be built from the ground up. The development includes dedicated service corridors, energy-efficient systems, and advanced waste management, ensuring long-term ESG compliance. With three times the green space of New York’s Central Park, the district is designed for walkability, featuring an 11-kilometre vehicle-free pedestrian and cycling route.
“We’re taking what is already an amazing city and just extending that, making it even more amazing,” Dyke said. “We don’t call ourselves a city—we’re part of Riyadh, and we’re very proud of that.”
