Latest news with #Mukaab
Zawya
04-08-2025
- Business
- Zawya
New Murabba seals partnership with Saudi PIF unit for Mukaab projects
New Murabba Development Company (NMDC) has signed an agreement with Alat, a key entity of Saudi sovereign wealth fund PIF, to explore the development and integration of technologies supporting its mega project - Mukaab project. The MoU also covers potential future technology needs across the wider New Murabba downtown development, said NMDC in a statement. The agreement includes exploring vertical transportation solutions – such as elevators and escalators – to support mobility within the Mukaab and other New Murabba developments. The MoU will also explore optimal funding strategies for initial investments in hardware and research and development, while evaluating the feasibility of establishing production facilities within the kingdom, it stated. "Together, we're working to deliver truly immersive digital experiences, explore localised tech production within Saudi Arabia, and advance innovation that supports Vision 2030," remarked Michael Dyke, CEO of New Murabba after signing the deal with Alat CEO Amit Midha. "This partnership reinforces our commitment to building a smart, future-ready destination that redefines how people live, connect, and experience urban life," he added. This announcement follows other agreements signed by NMDC in recent weeks. In July, it had sealed an MoU with South Korea's Heerim Architects & Planners to explore additional design work for assets within the 14-sq km New Murabba downtown project. Under the pact, Heerim will examine architectural concepts aligned with the project's masterplan, focusing on anchor assets, linear parks and smart city features. Earlier in July, NMDC signed a deal with another South Korean firm, Naver Cloud Corporation, to explore technological solutions for delivering the New Murabba downtown project.- TradeArabia News Service Copyright 2025 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Daily Mirror
04-08-2025
- Business
- Daily Mirror
Inside world's biggest airport under construction with 12 square km of shops
The King Salman International Airport in Riyadh, Saudi Arabia, is due to open in 2030 and will cover an area of 57 square km with 12 square km of the complex exclusively dedicated for shops Anyone who has travelled abroad knows some airports are absolutely massive, but a new aviation hub being built in Saudi Arabia could dwarf them all. Set to launch in 2030, this groundbreaking airport is expected to come with an eye-watering $30 billion construction bill. With its six colossal runways and lavish terminal, it's hardly surprising the cost is so steep. King Salman International Airport in Riyadh, the Saudi capital, will snatch the crown as the world's biggest airport once finished. It will span a mind-boggling 57 square kilometres, with 12 square kilometres dedicated purely to retail. The complete airport development will match the area of 14,000 football pitches, reports the Mirror US. Fosters and Partners are responsible for the airport's blueprint. This cutting-edge aviation facility will also create 150,000 positions across the logistics and commercial sectors. The complex will handle 120 million passengers each year, with scope to grow to 185 million by 2050. The Saudi Press Agency declared in a statement: "The airport project is in line with Saudi Arabia's vision to transform Riyadh to be among the top ten city economies in the world and to support the growth of Riyadh's population to 15-20 million people by 2030." At present, Saudi Arabia already hosts the planet's largest airport - Dammam Airport. Saudi Arabia is pursuing countless bold projects as part of its 2030 vision. Building work has commenced on the airport, anticipated to open in 2030 Construction has already commenced on what will become the globe's most colossal building, also situated in Riyadh. The Mukaab will be so vast that it could accommodate 20 Empire State Buildings inside its structure. The title means "cube" in Arabic, and the development is planned to emerge in central Riyadh. Standing at an incredible 1,300 ft in height and 1,200 ft in width, the complex will contain 104,000 residential units, 9,000 hotel rooms, 1 million square feet of office space, and 2 million square feet allocated to retail. Furthermore, the structure will accommodate a theatre and a university within its confines.
Saudi Gazette
31-07-2025
- Business
- Saudi Gazette
New Murabba, Alat sign MoU to develop next-gen vertical transport for The Mukaab
Saudi Gazette report RIYADH — New Murabba Development Company and Alat have signed a memorandum of understanding to explore advanced vertical mobility solutions — including next-generation elevators and escalators — for The Mukaab and the wider New Murabba development. The agreement focuses on deploying innovative technologies to enable seamless and intelligent movement within the mega urban destination. This includes the integration of transformative digital systems to elevate the visitor experience inside The Mukaab through cutting-edge, multi-sensory environments. Under the MoU, both parties will collaborate on identifying the best financing strategies for initial investments in hardware and R&D. The agreement also includes a feasibility study to establish high-performance manufacturing facilities in Saudi Arabia capable of meeting project demands, supporting national localization targets tied to New services such as warranty, maintenance, and software updates will also be jointly Dyke, CEO of New Murabba Development Company, said the agreement marks a key milestone in delivering a future-ready, smart urban destination."Our partnership with Alat reinforces our commitment to integrating next-gen technologies that will redefine urban living and visitor engagement," he CEO Amit Midha described the collaboration as a bold step toward shaping tech-enabled urban life."Combining Alat's AI-driven solutions with New Murabba's ambitious vision opens new possibilities for transformative smart city experiences," he Mukaab is envisioned as a next-generation urban marvel — measuring 400 meters in height, width, and length — making it the tallest and most prominent structure in combines traditional Najdi architectural aesthetics with advanced technology to create a mixed-use destination offering luxury hospitality, cultural attractions, residential units, retail zones, and interactive entertainment The Mukaab, visitors will be immersed in a world of innovation, from holographic 3D displays to a world-class digital sound system designed to accommodate large-scale structure will feature a one-of-a-kind lighting system that harmonizes art and innovation, enhancing the visual experience and seamlessly integrating with curated events and exhibitions.A unique pedestrian gateway will guide visitors through a tranquil path transitioning them from the bustling city into this immersive environment.
Korea Herald
01-07-2025
- Business
- Korea Herald
Saudi Vision 2030's smart city has S. Korea at its heart: NMDC CEO
Naver Cloud forms first Korean partnership with megasized smart city project to work on autonomous, smart technologies Saudi Arabia's capital is undergoing a massive urban transformation aimed at reshaping not only Riyadh, but the entire Middle East -- and the kingdom wants South Korea to be part of the initiative, according to the head of the state-owned developer leading the project. New Murabba Development Co., wholly owned by Saudi Arabia's Public Investment Fund, was established to build the world's largest modern downtown in Riyadh as part of Crown Prince Mohammed bin Salman's Vision 2030 initiative. Michael Dyke, CEO of NMDC, said Korea is emerging as a key partner for the project, citing the country's advanced technology and strong cultural ties with Saudi Arabia. 'Korea's advantage is that it already has a history and track record of operating within the kingdom,' Dyke said in an interview with The Korea Herald on the sidelines of the New Murabba Investment and Partnership Forum on Monday in Seoul. He referred to the economic boom of the 1970s and '80s, when Korean construction companies were instrumental in developing Saudi Arabia's infrastructure. 'The relationships are long and strong, and partnerships with Saudi companies are already well established from within South Korea,' he added. Dyke pointed to three pillars of partnerships with Korea: industrial, technological and real estate. 'One thing I would emphasize is that because of the scale of New Murabba, there will be multiple partnerships required to cover all areas,' he noted. New Murabba, spanning 19 square kilometers in Riyadh, is envisioned as a megasized smart city. At its center will be the Mukaab, a 400-meter-tall cuboid skyscraper that will house residences, retail, hospitality, cultural and leisure facilities under a single dome. Set to be the largest structure by volume, the Mukaab will be spacious enough to fit 20 Empire State Buildings. Construction is already underway, with completion targeted for 2030. 'We're in the capital city of Riyadh, and New Murabba will become the downtown of the capital city of the Middle East. The Mukaab, where we will have the high-tech core, will be the beating heart of this downtown,' Dyke said. Regarding the integration of Korean culture into the project, Dyke responded with enthusiasm. 'The simple answer is yes. With 100 million annual visits projected for the Mukaab, and 35 percent of those being international visitors, we need familiarity in food, retail and entertainment,' he explained. Dyke highlighted that his interest in Seoul is rooted in how it 'pushes the boundaries of technology and redefines how entertainment and food and beverage experiences are created.' In the years ahead, as Saudi Arabia prepares to host Expo 2030 and the FIFA World Cup in 2034, Dyke is confident that New Murabba will be ready to welcome millions of visitors with its state-of-the-art stadiums and integrated transit connectivity. 'So we are designing our city to be smart from the very beginning, and that's where our collaboration with Naver comes in, helping us ensure the city is future-proof for generations to come, not just for the next five, 10 or 20 years.' Despite ongoing tensions in the Middle East, Dyke appeared unconcerned, calling it a fact of life in today's world of constant change. 'Clearly, some things have happened more recently in the Middle East, but I know that much of the region is back to normal,' he said. 'It remains business as usual." On the day of the forum, Naver Cloud signed a memorandum of understanding with New Murabba, becoming the project's first Korean partner. The agreement opens the door to future collaboration in areas such as robotics, autonomous driving and smart city platforms, according to NMDC. 'Mukaab is a very complex ecosystem and requires companies of scale to match its scale,' Dyke said, explaining that Naver's technological prowess and capacity align with their needs. New Murabba planned to explore future collaborations in Seoul through a two-day closed-door forum on Tuesday and Wednesday, where more than 500 participants, including company executives, investors and government officials, were to engage in discussions on investment and partnership opportunities under Saudi Arabia's Vision 2030. minmin@
Korea Herald
01-07-2025
- Business
- Korea Herald
S. Korea at heart of Saudi Vision 2030's smart city project: NMDC CEO
Naver Cloud forms first Korean partnership with the mega smart city project to work on autonomous and smart technologies Under Saudi Arabia's Vision 2030, a massive urban development is underway in Riyadh that aims to transform not only the kingdom's capital but the entire Middle East, according to Michael Dyke, CEO of New Murabba Development Company, a wholly owned subsidiary of Saudi Arabia's Public Investment Fund. South Korea is emerging as a key partner for the New Murabba project, leveraging its advanced technology and strong cultural ties to Saudi Arabia. 'Korea's advantage is that it already has a history and track record of operating within the kingdom,' Dyke said in an interview with The Korea Herald on the sidelines of the New Murabba Investment and Partnership Forum held Monday in Seoul. He referred to the economic boom of the 1970s and 1980s, when Korean construction companies were instrumental in developing Saudi Arabia's infrastructure. 'The relationships are long and strong, and partnerships with Saudi companies are already well established from within South Korea,' he added. Dyke pointed to three pillars of partnerships with Korea: industrial, technological and real estate. 'One thing I would emphasize is that because of the scale of New Murabba, there will be multiple partnerships required to cover all areas,' he noted. New Murabba, spanning 19 square kilometers in Riyadh, is envisioned as a mega-sized smart city. At its center will be the Mukaab, a 400-meter-tall cuboid skyscraper that will house residences, retail, hospitality, cultural and leisure facilities under a single dome. Set to be the largest structure by volume, the Mukaab will be spacious enough to fit 20 Empire State Buildings. Construction is already underway, with completion targeted for 2030. 'We're in the capital city of Riyadh, and New Murabba will become the downtown of the capital city of the Middle East. The Mukaab, where we will have the high-tech core, will be the beating heart of this downtown,' Dyke said. Regarding the integration of Korean culture into the project, Dyke responded with enthusiasm. 'The simple answer is yes. With 100 million annual visits projected for the Mukaab, and 35 percent of those being international visitors, we need familiarity in food, retail and entertainment,' he quipped. He highlighted that his interest in Seoul is rooted in how it 'pushes the boundaries of technology and redefines how entertainment and food and beverage experiences are created.' In the years ahead, as Saudi Arabia prepares to host Expo 2030 and the FIFA World Cup in 2034, Dyke is confident that New Murabba will be ready to welcome millions of visitors with its state-of-the-art stadiums and integrated transit connectivity. 'So we are designing our city to be smart from the very beginning, and that's where our collaboration with Naver comes in, helping us ensure the city is future-proof for generations to come, not just for the next five, 10 or 20 years.' Despite ongoing tensions in the Middle East, Dyke appeared unconcerned, calling it a fact of life in today's world of constant change. 'Clearly, some things have happened more recently in the Middle East, but I know that much of the region is back to normal,' he said. 'It remains business as usual." On the day of the forum, Naver Cloud signed a memorandum of understanding with New Murabba, becoming the project's first Korean partner. The agreement opens the door to future collaboration in areas such as robotics, autonomous driving and smart city platforms, according to NMDC. 'Mukaab is a very complex ecosystem and requires companies of scale to match its scale,' Dyke said, explaining that Naver's technological prowess and capacity align with their needs. New Murabba plans to explore future collaborations in Seoul through a two-day closed-door forum on Tuesday and Wednesday, where more than 500 participants, including company executives, investors and government officials, engage in discussions on investment and partnership opportunities under Saudi Arabia's Vision 2030. minmin@
