New Murabba, a Public Investment Fund company, has marked significant milestones at the 9th Future Investment Initiative (FII9) Conference in Riyadh. The event, held under the theme “The Key to Prosperity: Unlocking New Frontiers of Growth,” showcased the progress of Riyadh’s future downtown, highlighting its transformative vision and global partnerships.
Context and Background
The Future Investment Initiative (FII) is one of the world’s most influential investment gatherings, bringing together global leaders, investors, and innovators to explore the forces shaping the future of economies, cities, and societies. This year’s edition, FII9, focused on sustainability, technology, impact-driven investment, and urban transformation, providing a platform for New Murabba to present its ambitious plans for Riyadh’s new downtown.
Key Developments and Announcements
During the conference, Michael Dyke, CEO of New Murabba, participated in two high-profile sessions, emphasizing the project’s bold vision: a fully integrated, human-centric ecosystem built around the 15-minute community model. This model aims to create a seamless proximity between culture, commerce, nature, and everyday life. Dyke stated, “FII9 highlighted how New Murabba is turning vision into delivery, from global design partnerships to the groundwork of a world-class downtown. The Mukaab represents a new definition of urban living, a place where innovation, culture, and community come together to shape the Riyadh of tomorrow.”
Central to this transformation is The Mukaab, a 400-meter-high, wide, and deep architectural landmark anchoring the development. This iconic structure will host seven world-class hotels offering more than 10,000 hotel keys, 90,000 residential units, 1.4 million square meters of retail gross floor area (GFA), and 0.7 million square meters of office GFA. The Mukaab’s rooftop will span 16 hectares, equivalent to 22 football fields, and its high-tech immersive interior will redefine experiential destinations through advanced holographic, lighting, and sensory systems.
Strategic Partnerships and Design Excellence
FII9 also marked an important milestone in New Murabba’s delivery journey with the announcement of key consultancy agreements. A Joint Venture of AECOM and Jacobs will advance design across the 400-meter iconic landmark and its surrounding ecosystem. This partnership ensures design integrity, sustainability, world-class delivery, and innovation across every component of the project.
Additionally, the appointment of KPF as Lead Design Consultant for the first residential community reflects New Murabba’s commitment to global design excellence. KPF will lead the early design stages, focusing on sustainable urban planning, architecture, and smart-city integration.
Vision 2030 Alignment
The progress and partnerships announced at FII9 underscore New Murabba’s alignment with Saudi Arabia’s Vision 2030. By redefining urban living and fostering a human-centric ecosystem, the project contributes to the Kingdom’s goals of economic diversification, sustainability, and global leadership. As Riyadh’s future downtown takes shape, it stands as a testament to Saudi Arabia’s commitment to innovation and prosperity, setting a new standard for urban development worldwide.