New Murabba Development Company signs a key agreement with Saudi Arabia’s Ministry of Municipalities and Housing, known as MOMAH. This New Murabba MOMAH agreement helps speed up work on Riyadh’s biggest modern downtown project. The signing took place at New Murabba’s headquarters in the city.
The deal brings the Public Investment Fund arm, New Murabba, closer to government goals. Officials from both sides shook hands to align rules and cut red tape in building projects. They aim to roll out smart city features and raise living standards for people in the area.
Agreement Details
Under the New Murabba MOMAH agreement, teams match up land use plans and share key data. They push for green areas, safe walkways, and programs that build strong communities. Both draw ideas from top global examples to make things better.
The pact backs green building efforts called Protech. It also checks smart city ideas from MOMAH and sets standards for builders and workers. Designs now fit Saudi Vision 2030 plans for city growth.
MOMAH leaders like Deputy Minister Ihab Hashani join New Murabba CEO Michael Dyke in this work. They focus on quick urban changes and lasting community gains. The ministry helps review plans to keep quality high.
Project Overview
New Murabba covers 19 square kilometers in northwest Riyadh, right by eastern Diriyah. Planners eye more than 100,000 homes, 10,000 hotel rooms, schools, hospitals, and health centers. The area mixes homes, jobs, shops, and fun spots with green designs and new tech.
At its core sits The Mukaab, a giant cube building 400 meters on each side. It holds 2 million square meters of space for shops, culture spots, tourist draws, hotels, flats, offices, and play areas. Hologram tech adds wow inside.
Workers finish digging under the Mukaab and start piling for strong foundations. The full site targets a 2030 launch to match Vision 2030 dreams.
Impact on Riyadh
This New Murabba MOMAH agreement speeds urban planning and green goals. It ties into Saudi pushes for better cities and happy residents. The project shapes a top downtown with smart living, work, and play options.
Riyadh gains from steady growth as rules ease and standards rise. Thousands find homes and jobs in a future-ready spot. The deal marks real steps toward Vision 2030 city targets.
New Murabba leads as a major builder under PIF. The firm stresses lasting designs and fresh lifestyles. This pact opens doors for more wins in Saudi urban shifts
