Saudi Arabia's New Murabba, one of the giga projects in Riyadh, is on track for completion by December 2030, with the project's cubic centrepiece, the Mukaab, expected to attract at least 90 million visitors a year after it opens, according to its developer.
Work on the project, a planned 19-square-kilometre city district in north-west Riyadh, is "ahead of schedule in terms of our physical activity" and will be completed by December 31, 2030, Michael Dyke, chief executive of the New Murabba Development Company, told The National.
"We expect there to be, just in the Mukaab alone, more than 90 million visitations per annum. And those visitations are made of a combination of New Murabba residents, Riyadh city residents, kingdom of Saudi Arabia residents and international visitors," Mr Dyke said at the sidelines of the Future Hospitality Summit in Dubai. "Of these 90 million visitors, probably about 40 per cent will be international. But of course time will tell whether that number is an overestimate or an underestimate."
He added that the company works closely with multiple advisers on projections for population growth in Riyadh, the number of residents, as well as regional and international visitors. The hard data drives the project definition and investment strategies, he said.
Riyadh's population is estimated to reach 7.8 million in 2024, up 1.8 per cent from last year, and grow to 8.5 million by 2030, according to the World Population Review. The kingdom's overall population stands at 36.5 million, according to data from the World Census Bureau.
Saudi Arabia, under its Vision 2030 diversification strategy, aimed to reach 100 million visitors annually by 2030. But after surpassing that target in 2023, seven years ahead of schedule, the country revised its target to 150 million by the end of this decade, with planned investments of $800 billion to develop its tourism sector.
The Saudi capital is home to some of the biggest giga-projects being developed as part of the Vision 2030 plan to wean the economy off its dependence on oil. Along with New Murabba, these include the $500 billion Neom development, the historical district of Diriyah, and the sports and entertainment city of Qiddiya, among others.
'Full-throttle for 2030'
Saudi Arabia’s Finance Minister Mohammed Al Jadaan said in April that the kingdom would adapt to current economic and geopolitical challenges and “downscale” or “accelerate” some of the projects being carried out under its Vision 2030 programme.
Mr Dyke acknowledged that while projects are not immune to economic challenges, the New Murabba project remains on track for completion by the end of the decade.
"I don't think any enterprise within the kingdom, or for that matter in any environment, is immune from challenges in relation to capital rationing. New Murabba naturally has a level of stretch imposed on it by its board. Equally as a CEO, I impose stretch upon the organisation too," he said.
"New Murabba is very real, we're not immune, but at the same time nothing is changing in terms of our appetite."
Work is progressing on track and it will be open during the World Expo 2030, which Riyadh is hosting from October 2030 to March 2031, My Dyke said.
"2030 is less than 2,300 days away, or about 54,000 hours, and every second counts, just like every Halala [unit of Saudi currency] counts as well. So with that being the case, we are absolutely full-throttle for 2030," Mr Dyke said.
"What really galvanises New Murabba is that we're not a project that is either a concept or idea on paper which will be amazing when done but has a fluid timeline. We are part of the capital city. Expo is coming in 2030 and New Murabba is a fundamental part of Expo 2030 in terms of the provision and the offering. We're also driven by the fact that the demographics and the population forecast means that Riyadh needs more accommodation and more space."
New Murabba will be the downtown core that Riyadh currently lacks but that it "really deserves and needs and must have" for residents, he said.
'Gateway to another world'
The New Murabba is a planned mixed-use development in the north-west of the city, at the intersection of King Salman and King Khalid roads. As a “smart city”, it aims to offer residents amenities within a 15-minute walk, bike ride, or public transport journey from their homes.
Mr Dyke said the new downtown Riyadh project is drawing major interest from residents and real estate developers.
"The interest is enormous from a whole spectrum of people … there isn't enough stock and space in Riyadh today and the population is growing," Mr Dyke said.
The Mukaab at the centre of the project will be built in a modern Najdi architectural style and will feature more than 400,000 square metres of background immersion technology, which is “always on”.
Standing at 400 metres in height, width, and length, it will house premium hospitality, retail, cultural and entertainment attractions, including a museum, a technology and design university, and a multipurpose immersive theatre.
"There's massive pull from international visitors, particularly linked to the tech side of things, because what we're going to create inside the Mukaab is truly a gateway to another world," Mr Dyke said.
"You're inside the world's largest immersive experience, you cannot see any boundaries and you feel like you're in another world. You smell, touch, feel the smells of New York, or of being in the Serengetti or what it might feel like to be in Mars. The immersive background and the technology we're creating, which is a first of its kind, will transport visitors to another world," he added.
"I genuinely believe it’s a modern-day marvel. It is the most complex structure ever known to man, ever built,” Mr Dyke told the Future Hospitality Summit in Dubai.
Funding requirements
New Murabba Development Company, which is owned by Saudi Arabia's sovereign wealth fund, the Public Investment Fund, is seeking additional funding from investors and will be going to market in the next 18 months, according to its chief executive.
"We will be looking to raise finance and at the moment we're in early conversations with multiple different types of partners or investors," Mr Dyke said.
"We have the more classic real estate investments where we've had a really positive level of interest from the market whereby many organisations have come to us asking how they can play a part in providing investment into New Murabba."
The company is also in talks with industrial partners who are keen to not just participate in building the physical infrastructure, but also in providing finance, Mr Dyke said.
"There will be more classic investment packages over the next 18 months for both funding and infrastructure," he said.
Mr Dyke declined to provide the project's cost or the amount of funding the developer plans to raise.
Consultancy Knight Frank, in its 2024 report titled Saudi Arabia Giga Projects, valued New Murabba at $50 billion, but said that the total value of projects commissioned to date is only $100 million.
Work on the project is progressing, with excavation work under the Mukaab now 86 per cent complete, "which means we're well advanced with that", Mr Dyke said.
The piling works have commenced to create the foundations for the structure. "We're in the market for the next stage of the detailed design and we're also going to market very shortly on packages for structural steel and for the first foundations which sit above the pile," he said. "So there's a lot of packages that are coming to market very shortly."
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
The specs: 2018 BMW X2 and X3
Price, as tested: Dh255,150 (X2); Dh383,250 (X3)
Engine: 2.0-litre turbocharged inline four-cylinder (X2); 3.0-litre twin-turbo inline six-cylinder (X3)
Power 192hp @ 5,000rpm (X2); 355hp @ 5,500rpm (X3)
Torque: 280Nm @ 1,350rpm (X2); 500Nm @ 1,520rpm (X3)
Transmission: Seven-speed automatic (X2); Eight-speed automatic (X3)
Fuel consumption, combined: 5.7L / 100km (X2); 8.3L / 100km (X3)
COMPANY%20PROFILE
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Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
SPECS
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Barings Bank
Barings, one of Britain’s oldest investment banks, was
founded in 1762 and operated for 233 years before it went bust after a trading
scandal.
Barings Bank collapsed in February 1995 following colossal
losses caused by rogue trader Nick Lesson.
Leeson gambled more than $1 billion in speculative trades,
wiping out the venerable merchant bank’s cash reserves.
Where to donate in the UAE
The Emirates Charity Portal
You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.
The General Authority of Islamic Affairs & Endowments
The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.
Al Noor Special Needs Centre
You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.
Beit Al Khair Society
Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.
Dar Al Ber Society
Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.
Dubai Cares
Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.
Emirates Airline Foundation
Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.
Emirates Red Crescent
On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.
Gulf for Good
Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.
Noor Dubai Foundation
Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).
Thanksgiving meals to try
World Cut Steakhouse, Habtoor Palace Hotel, Dubai. On Thursday evening, head chef Diego Solis will be serving a high-end sounding four-course meal that features chestnut veloute with smoked duck breast, turkey roulade accompanied by winter vegetables and foie gras and pecan pie, cranberry compote and popcorn ice cream.
Jones the Grocer, various locations across the UAE. Jones’s take-home holiday menu delivers on the favourites: whole roast turkeys, an array of accompaniments (duck fat roast potatoes, sausages wrapped in beef bacon, honey-glazed parsnips and carrots) and more, as well as festive food platters, canapes and both apple and pumpkin pies.
Ruth’s Chris Steakhouse, The Address Hotel, Dubai. This New Orleans-style restaurant is keen to take the stress out of entertaining, so until December 25 you can order a full seasonal meal from its Takeaway Turkey Feast menu, which features turkey, homemade gravy and a selection of sides – think green beans with almond flakes, roasted Brussels sprouts, sweet potato casserole and bread stuffing – to pick up and eat at home.
The Mattar Farm Kitchen, Dubai. From now until Christmas, Hattem Mattar and his team will be producing game- changing smoked turkeys that you can enjoy at home over the festive period.
Nolu’s, The Galleria Mall, Maryah Island Abu Dhabi. With much of the menu focused on a California inspired “farm to table” approach (with Afghani influence), it only seems right that Nolu’s will be serving their take on the Thanksgiving spread, with a brunch at the Downtown location from 12pm to 4pm on Friday.
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More from Neighbourhood Watch
History's medical milestones
1799 - First small pox vaccine administered
1846 - First public demonstration of anaesthesia in surgery
1861 - Louis Pasteur published his germ theory which proved that bacteria caused diseases
1895 - Discovery of x-rays
1923 - Heart valve surgery performed successfully for first time
1928 - Alexander Fleming discovers penicillin
1953 - Structure of DNA discovered
1952 - First organ transplant - a kidney - takes place
1954 - Clinical trials of birth control pill
1979 - MRI, or magnetic resonance imaging, scanned used to diagnose illness and injury.
1998 - The first adult live-donor liver transplant is carried out
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
Brief scores:
Manchester City 3
Aguero 1', 44', 61'
Arsenal 1
Koscielny 11'
Man of the match: Sergio Aguero (Manchester City)
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
