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Newsweek
19-05-2025
- Business
- Newsweek
World's Largest Building Construction Site Shares Development Update
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Saudi Arabia has launched a request for companies to form new consortiums for the Mukaab, a cuboid structure that could become the world's largest building. Why It Matters The $50 billion project is being constructed in the New Murabba of Riyadh and is part of the "Saudi Vision 2030" initiative, aiming to diversify the economy beyond oil and position the capital as a major global city. The government's "Vision 2030" initiative includes several other megaprojects, such as Neom, a linear city being built in the country's northern desert What To Know The New Murabba Development Company (NMDC), which manages the Mukaab's construction site, issued a prequalification notice on May 5, with a June 12 deadline, calling for companies to enter consortiums for the building's central structure, which will be approximately 1,312-feet-tall. The NMDC said the contract would cover main works for the Mukaab, which will cover the central spire that the rest of the cube is built around. The final building will be perfectly symmetrical in height, depth and width. A rendering of the Mukaab, which would be the world's largest building, in Riyadh. A rendering of the Mukaab, which would be the world's largest building, in Riyadh. NMDC This means that the Mukaab will be the largest building in the world by volume once completed, with over 60 million square meters of space inside. That's enough to house 20 Empire State Buildings. For comparison, the current largest building in the world by volume, the Boeing Everett Factory in Washington state, is just 13 million square meters large. The area inside the Mukaab will feature a museum, a technology and design university, multiple theaters, and more than 80 other entertainment and cultural venues, according to the building's official promotional site. Officials also want the first phase of construction to include around 8,000 homes, enough for 35,000 people. What People Are Saying The New Murabba Development Company (NMDC) said in a statement on the Mukaab's website: "Spanning 2 million square meters of floor space, The Mukaab redefines luxury with its immersive shopping, dining, and cultural offerings. It's a hub of connectivity, accessible via major roads, embodying innovation. "Here, the New Murabba Public Art program transforms the space into an immersive, technologically advanced destination, blending the virtual with the real for a unique experience." Michael Dyke, chief executive officer of NMDC, said that the cube structure symbolizes "the next chapter" for Riyadh, making it an "iconic symbol of Saudi ingenuity" while also creating 334,000 new jobs. "Ultimately, a capital city the size of Riyadh deserves to have a global, central icon as other capital cities do," he told Bloomberg in an interview last year. The construction site of the Mukaab, managed by the New Murabba Development Company. The construction site of the Mukaab, managed by the New Murabba Development Company. NMDC What Happens Next Official timelines for the Mukaab say that overall completion is being targeted for 2030, but like many other "Vision 2030" projects, the schedule is in doubt, as construction has been slow to take off.
Zawya
15-05-2025
- Business
- Zawya
New Murabba participates in Saudi-U.S. Investment Forum and Media Oasis, showcasing vision for building a modern downtown
Riyadh: New Murabba, a PIF company, participated in the Saudi-U.S. Investment Forum, held in Riyadh on May 13–14, alongside the official visit of U.S. President Donald Trump to the Kingdom. During the forum, the CEO presented New Murabba's vision and its ability to develop a one-of-a-kind destination, positioning the company as a pioneer in innovative urban development. Through its pavilion at the accompanying exhibition in Media Oasis, New Murabba offered a preview of Riyadh's new modern downtown a destination that seamlessly integrates modernity, sustainability, and advanced technologies. The participation attracted strong engagement from attendees, including international media representatives who expressed significant interest in the ambitious urban planning initiatives that underscore Saudi Arabia's forward-looking development vision. At the Saudi-U.S. Investment Forum, New Murabba's team delivered a comprehensive presentation outlining the destination's key investment opportunities and reaffirmed the company's commitment to fostering global partnerships and sustainable investments. Michael Dyke, CEO of New Murabba, stated that New Murabba looks forward to capitalizing on the investment potential generated through its participation in both Media Oasis and the Saudi-U.S. Investment Forum. New Murabba will feature iconic landmarks aligned with Riyadh's bold vision for the future. This includes The Mukaab – the world's largest built structure, inspired by Salmani architecture and enhanced with state-of-the-art holographic technologies to deliver immersive experiences. The development will also include the New Murabba Stadium set to serve as a venue for the 2034 FIFA World Cup, with a seating capacity exceeding 45,000.
Mid East Info
25-04-2025
- Business
- Mid East Info
Inaugural World Stadiums and Arenas Summit to Shape the Future of Global Sports Infrastructure in Riyadh - Middle East Business News and Information
Over 1,000 global decision-makers to convene in Riyadh to drive the evolution of stadium and arena development More than 115 leading exhibitors to showcase next-generation stadium technologies High-impact two-day summit to explore innovations, sustainability, and global trends shaping the sector Riyadh, Saudi Arabia: Saudi Arabia will host the inaugural World Stadiums and Arenas Summit (WSAS) from April 29–30 at the Mandarin Oriental, Al Faisaliah, Riyadh, marking a significant milestone in the Kingdom's mission to become a global leader in sports infrastructure and mega-event hosting. Held in association with Saudi Green Building Forum, the flagship event is set to welcome over 1,000 international industry leaders, decision-makers, and professionals, alongside 100+ exhibitors from more than 50 countries. The Summit will serve as a global platform to unveil cutting-edge innovations and set strategic priorities for the stadiums and arenas ecosystem. 'Green sports infrastructure is no longer a vision for tomorrow—it is the foundation of today,' said Faisal AlFadl, Secretary General of the Saudi Green Building Forum. 'We lead the evidence-based transformation of how stadiums and arenas are designed, constructed, and operated in line with the highest sustainability standards. As Saudi authorities ascend to global prominence in sports, our commitment ensures these venues not only host champions, but magnify their potential. This is about more than buildings—it's about aligning ambition with action, bringing stability where there was uncertainty, and creating a future where every athlete is supported, every event is safeguarded, and every legacy is sustainable.' Designed to accelerate progress in line with Saudi Vision 2030, WSAS underscores the Kingdom's ambition to be a premier destination for global sporting events—including the AFC Asian Cup 2027, Asian Winter Games 2029, and FIFA World Cup 2034. The event attracted major support from leading strategic stakeholders from Government Authorities, Sporting Federations, Architects and developers, including Qiddiya, New Murabba, and knowledge partner EY. The two-day conference will feature over 45 influential voices from the fields of global design, architecture, operations, and venue management. Discussions will cover key topics including sustainable and eco-friendly construction, smart stadium technologies, energy-efficient design innovations, fan experience and digital engagement, and legacy planning for post-event use. Confirmed speakers include Michael Dyke, CEO of New Murabba; Guido Fienga, CEO and Senior Advisor at Al Nassr/PIF; Eng. Mansour A. Almokbel, CEO of Saudi Motorsport Company; Shireen Hamdan, Senior Principal at Populous; and Barry Bremner, Executive Director of Sports Strategy at Qiddiya. (Additional speakers to be announced.) WSAS comes at a pivotal moment for the Kingdom. According to a Surj Sports Investments report, Saudi Arabia's sports sector contributed $6.9 billion to GDP in 2023, with projections pointing to $16.5 billion annually by 2030. The Summit will spotlight how investment in infrastructure, innovation, and global partnerships is transforming the Kingdom into a central hub for world-class sports and entertainment. 'We extend our heartfelt gratitude to the Minister of Sport in Saudi Arabia for his visionary leadership in advancing the sports sector and for his unwavering commitment to bringing international games to our nation,' said AlFadl. 'His efforts not only align with Saudi Vision 2030 but also foster a vibrant sporting culture that inspires future generations. We are excited to witness the transformative impact this will have on our community and the global sports landscape.' Leila Masinaei, Managing Director of GM Events and WSAS, emphasized the Summit's strategic importance: 'The launch of the World Stadiums and Arenas Summit is timely and critical. As Saudi Arabia builds world-class venues to meet its future ambitions, WSAS provides a collaborative forum to exchange knowledge, ignite innovation, and forge partnerships. We are honored to have the trust of the Supporting Partners and our Sponsors to make this the global benchmark for the stadiums and arenas industry.' The Summit is open exclusively to industry professionals, running from 8:00 AM to 5:35 PM on April 29, and 8:00 AM to 2:30 PM on April 30. For full event details, speaker list, and registration, visit:
Mid East Info
24-03-2025
- Business
- Mid East Info
New Murabba Reinforces Global Investor Appeal at MIPIM 2025 - Middle East Business News and Information
New Murabba, a Public Investment Fund (PIF) company, participated in the real estate event 'MIPIM 2025,' held from March 11- 14 in Cannes, France. This year's participation aims to enhance international investment in the Kingdom and highlight its commitment to economic diversification. According to a company press release issued today, New Murabba's presence at MIPIM 2025 featured a series of insightful sessions led by key executives. These sessions provided attendees with a deeper understanding of New Murabba's strategic vision and its alignment with Saudi Arabia's broader development goals. CEO of New Murabba Michael Dyke took part in a panel discussion titled 'How the Saudi Giga Projects Are Contributing to the Kingdom's Economy and Vision 2030,' EPMO and Stakeholder Management Division Head Eissa Almunif contributed to the panel 'Changing Demographics in Saudi Arabia and How This Affects Development Planning.' Development Director Ashwaq Albabtain joined the panel 'Mega Events, Hospitality, and Leisure,' while Executive Director of Capital Partnerships Development Nida Raza participated in the discussion 'The Evolving Real Estate Sector in Saudi Arabia.' Director of Healthcare and Education Development Reham Alawaji took part in the panel 'Creating Livable Cities with Purpose.' These sessions provided valuable insights into the development's strategic relevance and its potential to reshape the urban landscape. During his participation, Dyke emphasized, 'We are committed to collaborative development and world-class execution. New Murabba has completed 14 million cubic meters of excavation while achieving 5.5 million safe hours without lost-time incidents. This milestone enables the commencement of permanent works for The Mukaab, ensuring the groundwork is set for the next phase of construction.' He also added that this progress underscores New Murabba's dedication to delivering a world-class destination that will redefine urban development and contribute to a vibrant live-work-visit offering within the project.
Arab News
22-03-2025
- Business
- Arab News
New Murabba reinforces global investor appeal at real estate event
New Murabba, a Public Investment Fund company, participated in the real estate event 'MIPIM 2025,' held from March 11-14 in Cannes, France. This year's participation aimed to enhance international investment in the Kingdom and highlight its commitment to economic diversification. According to a company press release issued recently, New Murabba's presence at MIPIM 2025 featured a series of insightful sessions led by key executives. These sessions provided attendees with a deeper understanding of New Murabba's strategic vision and its alignment with Saudi Arabia's broader development goals. CEO of New Murabba Michael Dyke took part in a panel discussion titled 'How the Saudi Giga Projects Are Contributing to the Kingdom's Economy and Vision 2030.' 'We are committed to collaborative development and world-class execution. New Murabba has completed 14 million cubic meters of excavation while achieving 5.5 million safe hours without lost-time incidents. This milestone enables the commencement of permanent works for The Mukaab, ensuring the groundwork is set for the next phase of construction,' said Dyke. He also added that this progress underscores New Murabba's dedication to delivering a world-class destination that will redefine urban development and contribute to a vibrant live-work-visit offering within the project. EPMO and Stakeholder Management Division Head Eissa Almunif contributed to the panel 'Changing Demographics in Saudi Arabia and How This Affects Development Planning.' Development Director Ashwaq Albabtain joined the panel 'Mega Events, Hospitality, and Leisure,' while Executive Director of Capital Partnerships Development Nida Raza participated in the discussion 'The Evolving Real Estate Sector in Saudi Arabia.' Director of Healthcare and Education Development Reham Alawaji took part in the panel 'Creating Livable Cities with Purpose.' These sessions provided valuable insights into the development's strategic relevance and its potential to reshape the urban landscape.
