What New Murabba does

New Murabba is a Riyadh-based master developer building a 14.1 km² modern downtown anchored by The Mukaab, a 400-meter cube skyscraper designed to be the world's largest single-built structure. The company is a closed joint stock company wholly owned by Saudi Arabia's Public Investment Fund, operating as a flagship project of Vision 2030 and chaired by Crown Prince Mohammed bin Salman. Its master plan comprises 98,000+ residential units across 9 districts, 10,000+ hotel keys, 1.4 million sqm of retail gross floor area, 727+ million sqm of office space, and 10+ entertainment and cultural attractions within The Mukaab and surrounding city center.

The development integrates a smart-city technology stack including AI-powered urban management, digital twins, a robust ICT backbone with 5G connectivity, district-wide cooling, IoT-enabled smart buildings, immersive digital and holographic experiences, and a super-application for public services. Sustainability targets include operational net zero by 2060, 50% renewable grid electricity by 2030, 95% wastewater recycling, 90% MSW landfill diversion from 2030, and 100% electric public vehicles. Construction of The Mukaab was suspended in January 2026 beyond soil excavation and pilings as PIF reassessed financing amid Saudi fiscal pressures, though development planning, partnership origination, and PMC work with Bechtel, Turner Arabia, CHEC, and KPF continued.

New Murabba's revenue model is built on land sales to developers, joint ventures with institutional co-developers, long-term retail and office leasing, future hospitality and entertainment operations within The Mukaab, and a technology-partnership channel offering equity investment, pre-leasing with equity options, anchor tenant equity stakes, and technology-for-equity exchanges. Its go-to-market targets sovereign wealth funds, pension funds, PE/REIT investors, large real estate developers, and PropTech/AI/IoT/5G providers, primarily through dedicated partner portals and direct engagement at global real estate and investment summits. The company has 101-250 employees, is registered in Riyadh, and operates under Saudi jurisdiction.

Name

New Murabba

Legal name

New Murabba

Website

https://newmurabba.com

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

101–250 employees

Short description

New Murabba is a PIF-owned Riyadh master developer building a 14.1 km² modern downtown anchored by The Mukaab skyscraper, offering land sales, joint ventures, and technology partnerships to global institutional investors, real estate developers, and PropTech providers as a Vision 2030 flagship project.

Ownership category

akta.pro rank

Product category

Master-Planned Urban Real Estate Development

NAICS

Nonresidential Building Construction (2362), Commercial and Institutional Building Construction (23622)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Operative Builders (1531)

akta.pro primary industry

Retail & Mixed-Use Commercial Construction (IMAFACAB)

Keywords

• Master urban development
• Mixed-use real estate
• Smart city infrastructure
• Institutional real estate investment
• Vision 2030 development

Headquarters

HQ city

Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Technology or R&D, Personnel, Supply Chain, Marketing or Sales

Revenue model

1. Land Sales: New Murabba, as master developer, sells land parcels to real estate developers, institutional investors, and commercial entities for development within the 14.1 km² master plan. This represents the primary revenue mechanism for the project.
2. Joint Ventures & Strategic Partnerships: Co-development arrangements where New Murabba participates with developers and investors in joint ventures for specific districts, buildings, or use types (residential, retail, hospitality, office), sharing development costs and revenues.
3. Hospitality & Entertainment Operations: Revenue from The Mukaab's hospitality offerings including hotel units, entertainment attractions, cultural venues, and food districts operated within the iconic structure and surrounding city center.
4. Retail & Commercial Leasing: Long-term leasing of retail and office space within the 1.4 million sqm retail GFA and office towers across the development to tenants and brands.
5. Technology & Smart Infrastructure Partnerships: Revenue-generating partnerships with technology providers offering equity investment, pre-leasing with equity options, strategic partnership investments, anchor tenant equity stakes, and technology-for-equity exchanges in exchange for integration into the smart city ecosystem.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels10 records

Core offering

New Murabba is a master developer building a 14.1 km² modern downtown in Riyadh anchored by The Mukaab, a 400m cube skyscraper. The project offers land parcels, joint ventures, and strategic partnerships to institutional investors, real estate developers, and technology providers, comprising 98,000+ residential units, 1.4 million sqm of retail space, 10,000+ hotel keys, and integrated smart city infrastructure including AI, digital twins, district-wide cooling, and ICT backbone.

Product overview

New Murabba is a master-planned urban development company building Riyadh's new modern downtown as a single, integrated platform. The core offering centers on The Mukaab, a 400m cube architectural icon featuring immersive digital experiences, surrounded by a 14.1 km² mixed-use downtown. The portfolio comprises residential (98,000+ units), retail (1.4+ million sqm), hospitality (10,000+ hotel keys), commercial office space (727+ million sqm), entertainment attractions, and smart city infrastructure. The ecosystem is unified by AI-powered urban management and a robust ICT backbone, all positioned as an investment destination backed by Saudi Arabia's Public Investment Fund for long-term returns.

Differentiator

Problem solved

Functional benefit

Products and services

• The Mukaab A 400m x 400m x 400m architectural icon rising at the heart of New Murabba, combining modern Najdi architecture with cutting-edge technologies including immersive digital and holographic experiences. Features premium hospitality, retail, cultural attractions, residential units, hotel units, commercial spaces, and recreational facilities.
• New Murabba Downtown A 15-minute downtown spanning 14.1 km² in Riyadh, designed for effortless living where residents can walk 5 minutes to daily needs and 15 minutes to everything else. Features green streets, shaded courtyards, district-wide cooling technology, and AI-driven smart city infrastructure.
• Residential Development 98,000+ residential units across 9 districts and 14 communities within the 14.1 km² master plan, offering modern residential units designed for live-work-play lifestyle with accessibility to The Mukaab and key attractions.
• Retail Spaces 1.4+ million square meters of retail space featuring shopping experiences within The Mukaab ecosystem and surrounding downtown areas, available for long-term leasing to brands and tenants.
• Office Spaces Over 727+ million square meters of office space designed for innovation and business operations, featuring modern commercial spaces integrated within The Mukaab and Wadi Podiums, available for long-term leasing.
• Hospitality 10,000+ hotel keys and 1.3+ million square meters of floor area dedicated to hospitality, offering luxury stays at the heart of New Murabba with access to entertainment and cultural attractions.
• Entertainment and Cultural Attractions More than 10 key attractions including museums, theatres, cultural hubs, and food districts woven into everyday life, with immersive experiences and holographic content at The Mukaab.
• Smart City Infrastructure Platform A robust ICT backbone delivering seamless connectivity across every district, featuring AI at the downtown's core for smarter decisions and more responsive urban operations, with open data initiatives and 5G infrastructure.
• Institutional Investment Platform Investment opportunities for sovereign wealth funds, pension funds, and institutional investors accessing a diversified mixed-use platform at the capital's core with resilient, long-term demand drivers, including land sales, joint ventures, REIT investments, and strategic land fund arrangements.

Quantifiable outcome

• 23,000 people/km² target population density
• +14 more outcomes

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature6 records

Partnerships

Eight partnerships are on record, tiered minor, core and major.

• Future Hospitality Summit (FHS) Saudi Arabia 2026minorGTM or Marketing Partner · 1 June 2026New Murabba participates in FHS Saudi Arabia 2026 in Riyadh (22-24 June), a hospitality investment summit aligned with Saudi Vision 2030's tourism transformation goals, featuring over 30 presentations and networking events under the theme 'Where Opportunity Meets Capital.'
• U.S. Green Building Council (USGBC)coreStrategic or Co-development Partner · 3 December 2025New Murabba signed an agreement with USGBC to explore collaboration on sustainable urban development and has joined USGBC as a Platinum member. The partnership aims to apply global sustainability frameworks including LEED certification to enhance design, construction, and operational practices across the 14 million sqm development.
• Cityscape Qatar 2025minorGTM or Marketing Partner · 1 October 2025New Murabba participated in Cityscape Qatar 2025 in Doha, which featured over 70 developers and anticipated QAR 400+ million in real estate transactions. New Murabba showcased landmark developments and investment opportunities as part of the exhibition.
• BechtelmajorImplementation/ SI/ Consulting PartnerBechtel is providing Project Management Consultancy (PMC) services for early works, infrastructure, and public realm development at New Murabba. Bechtel states that New Murabba's project team maintains transparency and communication at the core of their early work as they collaboratively deliver on a key project for Vision 2030.
• CHEC (China Harbour Engineering Company)majorImplementation/ SI/ Consulting PartnerCHEC is executing the Mukaab Excavation Phase I as part of New Murabba's development. CHEC states it will continue to demonstrate its technical advantages, environmental protection awareness, and sustainable development concepts during project implementation.
• Turner ArabiamajorImplementation/ SI/ Consulting PartnerTurner Arabia serves as the Project Management Consultancy (PMC) for The Mukaab. Turner takes pride in its role and New Murabba's leadership in creating a truly iconic landmark for the Kingdom, describing the Mukaab as a symbol of innovation and architectural excellence.
• KPF (Kohn Pedersen Fox)majorTechnology or IntegrationKPF is the architectural firm behind The Mukaab's design, which combines modern Najdi architecture with cutting-edge technologies including immersive digital and holographic experiences. KPF's design features the 400m cube structure with premium hospitality, retail, cultural, and tourist attractions.
• Fortune (Global Forum)minorGTM or Marketing PartnerNew Murabba's CEO Michael Dyke participated in the Fortune Global Forum in Riyadh to present investment opportunities in technology, real estate, and construction. The Fortune Global Forum serves as a platform for New Murabba to reach global business leaders and institutional investors.

Scale indicators29 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Diriyah Company: Saudi PIF-owned master developer of the Diriyah historic district near Riyadh, delivering a mixed-use cultural and tourism megaproject. Directly comparable as a fellow sovereign-backed Saudi master developer with a cultural-tourism anchor, large land bank, and integrated residential/retail/hospitality program.
• ROSHN: Saudi PIF-owned residential developer delivering 98,000+ planned units across Saudi Arabia. Comparable as a PIF-backed Saudi master developer targeting Vision 2030 housing targets with large-scale phased residential communities and similar institutional-investor GTM.
• Lendlease: Global master developer of large-scale urban regeneration projects including Barangaroo (Sydney), Elephant & Castle (London), and Paya Lebar Quarter (Singapore). Comparable as a master developer delivering integrated mixed-use downtowns with smart infrastructure and sustainability targets at city-block scale.

Broad incumbents

• NEOM: Saudi PIF-backed giga-project developing a $500B+ region including The Line, Trojena, and Oxagon. Comparable as a sovereign-funded Saudi master development with overlapping smart-city technology stack, AI/digital twin infrastructure, and similar dependency on PIF capital allocations.
• Aldar Properties: Abu Dhabi-listed master developer of mixed-use communities including Reem Island, Yas, and Saadiyat. Comparable as a Gulf master developer with integrated residential, retail, hospitality, and office portfolios at scale, though operating in a publicly-traded structure.
• Emaar Properties: Dubai-based master developer of Downtown Dubai, Dubai Marina, and international communities. Comparable as a Gulf master developer with iconic landmark architecture (Burj Khalifa), mixed-use residential/retail/hospitality portfolios, and large land-bank monetization via JV partners.
• Brookfield Property Group: Global real estate developer and operator of mixed-use campuses, office, retail, and hospitality assets. Comparable for its master-planned urban development capabilities, institutional-investor fund structures, and long-horizon mixed-use portfolio management.

Regional players

• DAMAC Properties: Dubai-based luxury real estate developer with branded residential and master-planned communities. Comparable as a Gulf luxury developer focused on high-end residential, hospitality, and branded lifestyle, though at smaller master-plan scale than New Murabba.
• Dar Al Arkan Real Estate Development: Saudi-listed master developer of large-scale mixed-use and residential projects including Shams Ar Riyadh and Al Qasr Mall. Comparable as a Saudi master developer delivering large mixed-use communities with luxury residential and retail components.

Emerging players

• Masdar City: Abu Dhabi sovereign-backed sustainable city development targeting net zero with smart infrastructure and clean-tech integration. Comparable for its sustainability targets, district cooling, AI-driven urban operations, and sovereign-backed mixed-use master planning.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/newmurabba
• Facebookfacebook.com/NewMurabba
• LinkedInlinkedin.com/company/newmurabba
• Instagraminstagram.com/newmurabba

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles22 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about New Murabba