Saudi Arabia Design and Construction Launch of New Murabba Development Company

Murabba Development Company (NMDC), a new entity backed by the country’s sovereign wealth fund, the Public Investment Fund (PIF). The company will build the world’s largest modern downtown in Saudi Arabia’s capital city, Riyadh. 

The “Murabba” project, which is expected to be complete by 2030, will offer over 25 million sqm of floor area, featuring more than 104,000 residential units, 9,000 hotel rooms, and over 980,000 sqm of retail space, as well as 1.4 million sqm of office space, 620,000 sqm of leisure assets, and 1.8 million sqm of space dedicated to community facilities. The entire development will be centered on sustainability, featuring green areas and walking and cycling paths, with most living, working and entertainment experiences accessible within 15-minute walking distance. The project will have its own internal transport system. It will also include a museum, a technology and design university, a multipurpose immersive theatre, and over 80 entertainment and culture venues.

The project is expected to add 180 billion riyals ($48.00 billion) to non-oil GDP and to create 334,000 direct and indirect jobs by 2030.

U.S. companies in smart infrastructure, smart mobility, professional consulting services, entertainment, transportation, environmental technologies, and other related sectors, may learn more about this project by sending inquiries or requests for further information to Tareq.Ghazal@trade.gov.