Cannes, March 16, 2024, The New Murabba Development Company made a significant impact at the esteemed MIPIM 2024 event held in Cannes, France, a gathering renowned for convening the foremost players in the property development sector. During the event, New Murabba unveiled its ambitious vision for urban development, signaling its openness to international investors eager to participate in this transformative endeavor.
CEO Michael Dyke emphasized the array of opportunities available for global investors seeking involvement with New Murabba. Spanning 19 square kilometers, this mixed-use development is poised to become the focal point of downtown Riyadh.
New Murabba has already achieved substantial progress in laying the groundwork for Mukaab, the iconic cube-shaped building set to anchor the development. With nearly 4 million cubic meters of material excavated, the company is demonstrating its commitment to building momentum and attracting global investors seeking to engage in groundbreaking projects.
Participating actively in Invest Saudi panel discussions on the sidelines of MIPIM, New Murabba further heightened its presence. Development Director Thomas Haag showcased the unique value proposition of the urban development during a session titled "Redefining Urban Futures: New Murabba Downtown Development and the Evolution of Master-planning in Saudi Arabia."
Giancarlo Filartiga, Senior Director of Residential & Mixed-use Development, underscored the significant contributions of Saudi Arabia's giga destinations to the Kingdom's economic landscape and the realization of Vision 2030. This was highlighted in the session titled "How the Saudi Giga Destinations are Contributing to KSA's Economic Landscape and the Realization of Vision 2030."
Aligned strategically with Vision 2030, New Murabba aims to play a pivotal role in diversifying the Kingdom's economy, positioning itself as one of the premier destinations in Saudi Arabia.
"New Murabba offers a plethora of investment opportunities for global investors seeking to tap into emerging markets," stated Dyke. "Our primary objective is to foster private investment, thereby reshaping urban development on a global scale. Investing in New Murabba presents a unique chance for early adopters to engage in a market that surpasses many other global destinations," he added.
New Murabba's participation in MIPIM 2024 underscores its steadfast commitment to shaping the future of urban development not only in Riyadh but also across the Kingdom and beyond. With a myriad of unparalleled opportunities on offer, the development is poised to welcome and collaborate with global investors in crafting a vibrant and sustainable urban masterpiece.
