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Saudi Crown Prince launches New Murabba Development Co. to develop world’s largest downtown in Riyadh

Amman: Saudi Arabia’s Crown Prince, Mohammad bin Salman, on Thursday launched of the New Murabba Development Company (NMDC) which aims to develop the world’s largest modern downtown in Riyadh, in line with Saudi Vision 2030.The New Murabba project will…

Amman: Saudi Arabia’s Crown Prince, Mohammad bin Salman, on Thursday launched of the New Murabba Development Company (NMDC) which aims to develop the world’s largest modern downtown in Riyadh, in line with Saudi Vision 2030.

The New Murabba project will be built around the concept of sustainability, featuring green areas and walking and cycling paths that will enhance the quality of life by promoting healthy, active lifestyles and community activities.

It will also feature an iconic museum, a technology and design university, a multipurpose immersive theater, and more than 80 entertainment and culture venues, according to the Saudi Press Agency (SPA).

The project will be situated at the intersection of King Salman and King Khalid roads to the North West of Riyadh, over an area of 19 square kilometers, to accommodate hundreds of thousands of residents.

The project will offer more than 25 million sqm of floor area, featuring more than 104,000 residential units, 9,000 hotel rooms, and more than 980,000 sqm of retail space, as well as 1.4 million sqm of office space, 620,000 sqm of leisure assets, and 1.8 million sqm of space dedicated to community facilities.

NMDC will develop the project and build the “Mukaab”, an exceptional iconic landmark featuring the latest innovative technologies. The design of the “Mukaab” includes first-of-its-kind facilities and will be one of the largest built structures in the world, standing 400m high, 400m wide, and 400m long. The cubic shape of the “Mukaab” will ensure the ultimate utilization of space to accommodate the technologies necessary to develop the icon.

The launch of NMDC is expected to add SAR180 billion to non-oil GDP and create 334,000 direct and indirect jobs by 2030.

The project is due to be completed in 2030.

Source: Jordan News Agency