New Murabba Secures Strategic Housing Pact With Saudi Government

New Murabba, a company owned by Saudi Arabia’s Public Investment Fund (PIF), has made a deal with the Ministry of Municipalities and Housing (MOMAH) to help build Riyadh's urban areas.

The deal means the two groups will work together to set up rules, make building easier, use smart city tech, and improve life for people who live there. This partnership should help with urban planning, make things last longer, and grow communities in Riyadh, which fits with Saudi Vision 2030.

New Murabba is working to create the world’s biggest downtown area in Riyadh. This area will cover about 19 square kilometers in northwestern Riyadh and eastern Diriyah. It will offer a modern lifestyle with designs that save energy and new types of infrastructure.

Key Highlights

• New Murabba signs strategic pact with Saudi housing ministry.
• 19-sq-km Riyadh project to feature smart, sustainable urban design.
• Development to include 100,000+ homes and 10,000+ hotel rooms.

Leaders from New Murabba said that the deal with MOMAH shows they both want to create a connected, people-focused city. They also said that the partnership will be very important in creating a top-notch destination that matches Saudi Arabia’s goals.

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A main point of the project is The Mukaab, which will be a famous building for architecture, tech, and culture. The 247-acre area will have homes, hotels, shops, cultural spots, businesses, tourist spots, and places to have fun, all in one place in the new downtown.

When done, New Murabba should have over 100,000 homes and more than 10,000 hotel rooms, plus schools, hospitals, and healthcare, changing how people live in Riyadh.