New Murabba: Riyadh’s $50B Vision to Redefine Urban Living by 2030

May 27, 2025

The capital city of Saudi Arabia, Riyadh, is about to experience a revolutionary change as New Murabba, a $50 billion real estate and urban development project, rolls out. With support from the Public Investment Fund (PIF) and rolled out as part of Vision 2030, New Murabba is set to be the world’s largest modern downtown- the combination of futuristic design, sustainable living and economic diversification.

At the centre of this revolutionary urban plan is The Mukaab. This cube-shaped skyscraper is an icon of the kingdom’s desire to test the limits of the architectural and technological world.

Key Highlights of the New Murabba Project

Estimated Cost: $50 billion
Location: Northwest Riyadh
Project Area: 19 square kilometres
Excavation Milestone: More than 14 million cubic meters already cleared
Residential Units: More than 100,000 new homes
Hospitality: 9,000 hotel rooms planned
Commercial: 980,000 sqm of retail space
Offices: 1.4 million sqm of office space
Culture & Leisure: 80 entertainment and cultural venues
Green Spaces: Over 25 million sqm of green and open areas
Mobility: Integrated public transport and pedestrian networks

The Mukaab: World’s Largest Urban Landmark

New Murabba will be at the centre of “The Mukaab”, a 400-meter-high cube-shaped building 400 meters wide and deep, the equivalent of approximately 40 Empire State buildings. This dynamic mixed-use structure will be occupied by:

A twisting tower with a roof garden
Residential apartments, hotels, and commercial areas
Retail stores, restaurants, and entertainment areas
A virtual and digital reality experience of life in the future

Vision 2030 and Strategic Importance

New Murabba is one of the key projects of Saudi Arabia’s Vision 2030 (the national transformation program of the Kingdom to diminish its reliance on oil and create a diversified economy).

Attracting local and international investment
Boosting tourism and hospitality
Direct and indirect employment of more than 334,000 jobs
Promoting Riyadh as one of the best 10 cities of the world in 2030

The project is also envisaged to facilitate the development of sustainable urban spaces that are smart city infrastructure, as well as eco-conscious urban planning.

Construction Progress and Timeline

As early as 2025, large excavation works will already be done. The rate of development is picking up, and the initial phases will be delivered before the 2030 milestone. The foreign architecture and engineering companies are actively involved in the design and implementation of different project aspects.

Opportunities for Investors and Developers

New Murabba has a plethora of opportunities in:

Residential, retail, and commercial real estate development
Infrastructure and utilities
Smart city tech and innovation
Cultural, tourism, and lifestyle services

With favourable support from the government and a convenient urban location, the project is attracting the attention of international real estate investors, developers, and tech innovators equally.

Conclusion

New Murabba is not only a development project but a statement of Saudi Arabia’s future. The syntax of bold architecture, green living, cutting-edge technology and cultural richness gives Riyadh the emerging next-generation city status. While heading towards 2030, New Murabba is a signal of change, dreams, and unbounded potential in the region’s real property.