New Murabba, a Public Investment Fund (PIF) company, showcased its strategic vision and investment potential at MIPIM 2025, held from March 11 to 14 in Cannes, France, reinforcing Saudi Arabia’s commitment to economic diversification and global engagement. The participation, announced by the Saudi Press Agency, aimed to attract international investment and highlight the Kingdom’s transformative giga-projects.
Context and Background
MIPIM, the world’s leading real estate event, brings together investors, developers, and policymakers to explore opportunities shaping the built environment. New Murabba’s presence at the 2025 edition underscores Saudi Arabia’s ambition to position itself as a premier global investment destination. As a PIF company, New Murabba is developing a 19-square-kilometer downtown in Riyadh, centered around The Mukaab, a cube-shaped structure that will be one of the largest built landmarks in the world. The project aligns with Vision 2030, the Kingdom’s strategic framework to diversify its economy, reduce oil dependence, and enhance quality of life.
Key Details
During the event, New Murabba executives led a series of insightful sessions, providing attendees with a deeper understanding of the project’s strategic relevance. Michael Dyke, CEO of New Murabba, participated in a panel titled “How the Saudi Giga Projects Are Contributing to the Kingdom’s Economy and Vision 2030.” Robert Pearce, Head of Sales, joined the discussion “Changing Saudi Economy and Changing Regulations for Foreign Investment.” Eissa Almunif, EPMO and Stakeholder Management Division Head, contributed to “Changing Demographics in Saudi Arabia and How This Affects Development Planning.” Ashwaq Albabtain, Development Director, took part in “Mega Events, Hospitality, and Leisure.” Nida Raza, Executive Director of Capital Partnerships Development, participated in “The Evolving Real Estate Sector in Saudi Arabia,” and Reham Alawaji, Director of Healthcare and Education Development, joined “Creating Livable Cities with Purpose.” These sessions highlighted New Murabba’s integrated approach to urban development.
In his remarks, CEO Michael Dyke emphasized the project’s progress: “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 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.
Implications and Impact
New Murabba’s participation at MIPIM 2025 signals Saudi Arabia’s growing appeal to international investors. By showcasing its strategic vision and regulatory reforms, the project aims to attract foreign capital and expertise, fostering partnerships that drive economic growth. The development is expected to create thousands of jobs, boost tourism, and contribute significantly to non-oil GDP. Moreover, it reinforces the Kingdom’s position as a hub for innovation and sustainable urban living, aligning with global trends in smart cities and mixed-use developments.
Vision 2030 Alignment
New Murabba exemplifies the goals of Vision 2030 by promoting economic diversification, enhancing the quality of life for residents, and positioning Saudi Arabia as a global leader in urban development. As the project advances, it will play a pivotal role in transforming Riyadh into a world-class metropolis, attracting talent, investment, and visitors from around the globe. Through such initiatives, the Kingdom continues to demonstrate its commitment to a prosperous and sustainable future.
20 Questions
Q1. What is New Murabba?
A1. New Murabba is a Public Investment Fund (PIF) company developing a 19-square-kilometer downtown in Riyadh, featuring The Mukaab, a cube-shaped landmark. It aims to redefine urban living and support Saudi Arabia’s economic diversification.
Q2. What was the purpose of New Murabba’s participation at MIPIM 2025?
A2. The participation aimed to enhance international investment in Saudi Arabia and highlight the Kingdom’s commitment to economic diversification and Vision 2030, showcasing New Murabba’s strategic vision to global investors.
Q3. Where and when was MIPIM 2025 held?
A3. MIPIM 2025 took place from March 11 to 14 in Cannes, France. It is the world’s leading real estate event, attracting investors, developers, and policymakers from around the globe.
Q4. Who is the CEO of New Murabba?
A4. Michael Dyke is the CEO of New Murabba. He participated in a panel discussion at MIPIM 2025 titled “How the Saudi Giga Projects Are Contributing to the Kingdom’s Economy and Vision 2030.”
Q5. What progress has New Murabba achieved in construction?
A5. New Murabba has completed 14 million cubic meters of excavation and achieved 5.5 million safe hours without lost-time incidents. This milestone enables the commencement of permanent works for The Mukaab.
Q6. What is The Mukaab?
A6. The Mukaab is a cube-shaped structure at the center of New Murabba. It will be one of the largest built landmarks in the world, featuring a tower within a cube and serving as a iconic destination.
Q7. How does New Murabba align with Vision 2030?
A7. New Murabba supports Vision 2030 by promoting economic diversification, reducing oil dependence, and enhancing quality of life. It aims to create jobs, boost tourism, and attract foreign investment.
Q8. What panel discussions did New Murabba executives participate in?
A8. Executives joined panels on Saudi giga-projects, foreign investment regulations, changing demographics, mega events and hospitality, the evolving real estate sector, and creating livable cities, providing insights into the project’s strategic relevance.
Q9. Who is Robert Pearce?
A9. Robert Pearce is the Head of Sales at New Murabba. He participated in the panel “Changing Saudi Economy and Changing Regulations for Foreign Investment” at MIPIM 2025.
Q10. What did Michael Dyke emphasize about New Murabba?
A10. Dyke emphasized collaborative development and world-class execution, noting the completion of 14 million cubic meters of excavation and 5.5 million safe hours. He highlighted that permanent works for The Mukaab are now commencing.
Q11. What economic impact is New Murabba expected to have?
A11. New Murabba is expected to create thousands of jobs, boost tourism, and contribute significantly to non-oil GDP. It will attract foreign investment and enhance Riyadh’s status as a global business hub.
Q12. What is the size of New Murabba?
A12. New Murabba covers an area of 19 square kilometers in Riyadh. It will include residential, commercial, and leisure spaces, with The Mukaab as its centerpiece, aiming to accommodate hundreds of thousands of residents.
Q13. Who is Eissa Almunif?
A13. Eissa Almunif is the EPMO and Stakeholder Management Division Head at New Murabba. He contributed to the panel “Changing Demographics in Saudi Arabia and How This Affects Development Planning.”
Q14. What does “live-work-visit” mean in the context of New Murabba?
A14. “Live-work-visit” refers to New Murabba’s integrated design that combines residential, commercial, and tourism offerings. It aims to create a vibrant community where people can live, work, and enjoy leisure activities.
Q15. How does New Murabba contribute to Saudi Arabia’s real estate sector?
A15. New Murabba is set to become a landmark development, attracting international investors and setting new standards for urban living. It supports the growth of the real estate sector and aligns with Vision 2030’s economic goals.
Q16. Who is Ashwaq Albabtain?
A16. Ashwaq Albabtain is the Development Director at New Murabba. She participated in the panel “Mega Events, Hospitality, and Leisure,” sharing insights on how the project integrates hospitality and entertainment.
Q17. Who is Nida Raza?
A17. Nida Raza is the Executive Director of Capital Partnerships Development at New Murabba. She participated in the discussion “The Evolving Real Estate Sector in Saudi Arabia,” highlighting investment opportunities.
Q18. Who is Reham Alawaji?
A18. Reham Alawaji is the Director of Healthcare and Education Development at New Murabba. She took part in the panel “Creating Livable Cities with Purpose,” focusing on community well-being and sustainable urban planning.
Q19. What are the key features of New Murabba?
A19. New Murabba will feature The Mukaab, a cube-shaped landmark, along with residential, commercial, and cultural spaces. It aims to be a self-sustained downtown with smart city technologies and green spaces.
Q20. How does New Murabba attract international investors?
A20. New Murabba attracts investors through its alignment with Vision 2030, regulatory reforms, and world-class development potential. Its participation at MIPIM 2025 showcased these advantages to a global audience, fostering partnerships.
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