Riyadh – Eco - Fady Labib : The Saudi Crown Prince, Prime Minister and Chairman of the Board of Directors of the New Square Development Company, Prince Mohammed bin Salman bin Abdulaziz Al Saud, announced today, Thursday, the launch of the New Square Development Company ...
with the aim of developing the largest Downtown Globally speaking in the city of Riyadh, which contributes to the development of the future of the capital in line with the objectives of Saudi Vision 2030.
A gateway to another world: #TheMukaab will be the world’s first immersive, experiential destination. Large enough to hold 20 Empire State Buildings, the global icon will feature innovative technologies to transport you to new worlds.#NewMurabbahttps://t.co/5R4DqQdPyS pic.twitter.com/vr9M8cTI1I
— Public Investment Fund (@PIF_en) February 16, 2023
The new square project
will be based in its designs on applying sustainability standards and raising
the level of quality of life, including green spaces, providing walking paths,
and promoting health and sports concepts and community activities. The project
also includes an innovative museum, a university specializing in technology and
design, an integrated multi-use theatre, and more than 80 areas for live
performances and entertainment.
The project is located at the intersection of King Salman and King Khalid Roads, northwest of the city of Riyadh, on an area of more than 19 square kilometers, with a floor area of more than 25 million square meters, and a capacity for hundreds of thousands of residents, as the project will provide 104 thousand housing units, and 9 thousand hospitality units. And commercial spaces extending to more than 980 thousand square meters, in addition to 1.4 million square meters of office space, in addition to about 620 thousand square meters for entertainment facilities, and about 1.8 million square meters for community facilities, according to the Saudi Press Agency, “SPA”.
The new Square project
will offer a unique experience for living, working and entertaining within a
15-minute walk, in addition to internal transportation. It is about a 20-minute
drive from the airport.
The new square development company will work on building the “cube” icon to embody a global civilized symbol for the city of Riyadh, which includes the latest innovative technologies and unique features that are the first of its kind, as it will become one of the largest landmarks in the world, with a height of 400 meters and a width of 400 meters. It is 400 meters long, and the distinctive geometric shape of the cube contributes to providing the necessary space to accommodate the project’s details and technologies.
The external façade of
the cube will be inspired by the modern Najd character in its design, and will
constitute a creative technical display board, while the interior of the cube
will provide an exceptional experience through digital and virtual
technologies, and the latest holographic imaging technologies, in addition to a
tower that will be designed in a distinctive and unique way. The cube will
include a floor area of more than (two million) square meters to be a
hospitality destination, containing many brands, cultural landmarks, and points
of attraction for guests and visitors, as well as hotel and residential units,
business office spaces, and entertainment facilities.
The launch of the new square development company comes in line with the Public Investment Fund's strategy aimed at unlocking the potential of promising sectors, empowering the private sector and increasing the volume of local content, contributing to the development of real estate projects and local infrastructure projects, and diversifying the sources of income of the local economy. The project will also contribute to supporting the non-oil domestic product by up to 180 billion riyals, and creating 334,000 direct and indirect job opportunities. The new square project is expected to be completed in 2030.
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