New Murabba, a unit of Saudi sovereign wealth fund PIF, recently hosted a forum for its strategic partners in Riyadh.
The debut event, held at the Crowne Plaza RDC in Digital City, brought together over 40 senior leaders from various companies and strategic partners who engaged in open dialogue and exchanged ideas on Saudi Vision 2030 and the future of Riyadh’s new, transformative downtown.
Eissa Almunif, Executive Director of EPMO and Stakeholder Management at New Murabba, opened the day, welcoming the partners and highlighting the Vision 2030 and what this means for Riyadh City residential today.
In his keynote address, New Murabba CEO Michael Dyke said: "Together, we are building an extraordinary destination that will serve as a model of future urban planning - for the Kingdom and other nations worldwide."
Dyke emphasised the importance of collaboration and commitment to a common goal, acknowledging the expertise, innovation, and dedication of the partners involved.
Giving a project update, Dyke said 86% of the excavation work has been completed at the project site. It involved removal of 10 million cu m of earth.
"We are making excellent progress on our iconic landmark The Mukaab, which will house the world's largest immersive experience, seamlessly integrating cutting-edge digital and holographic technologies," he added.
Dyke also highlighted the recent announcement of plans for a 45,000-seat stadium, a state-of-the-art venue that will be able to host FIFA World Cup games in 2034.
The stadium will position New Murabba as a global hub for sports, entertainment, and culture, further enhancing its appeal as a vibrant, dynamic destination, he added.
Michael Lyons, Chief Delivery Officer, along with Mamdouh Alquraishi, Chief Corporate Services Officer; Tareq Almusharaf, Chief Financial Officer; Carl Schibrowski, Chief Development Officer; Raymond Rice, Head of Master Plan Delivery Division; Salman Alhubeis, Executive Director of Delivery; and Thomas Nilsson, Executive Director of Delivery for the Mukaab, provided an exclusive look into the development's evolution, showcasing its ambitious vision and remarkable progress.
This culminated in a site visit to The Mukaab, where attendees witnessed the scale of construction firsthand and gained a deeper understanding of the significant impact this iconic structure will have on Riyadh.
Troy Rudd, the CEO of AECOM worldwide, highlighted a pioneering 'Nature of Risk' and Abdullah Al-Juffali the president of Honeywell provided an introduction of Smart Cities Vision.
According to Dyke, the New Murabba offers a wide array of partnership opportunities across various sectors, all vital for the realization of the development's full potential.
These include: Rights and Sponsorships, providing avenues for global brands and organizations to create unique experiences; Financial Partnerships and Fund Structures, welcoming collaborations with financial institutions and investors; Development Partnerships, seeking to join forces with leading real estate developers, architects, and contractors; Public Private Partnerships, recognizing the power of collaboration between the public and private sectors; Technology and Smart Cities Partnerships, aiming to create a truly smart and connected city; and Green and Sustainable Development Partnerships, emphasizing environmental sustainability and green building practices, he explained.
The Phase 2, he stated, is expected to see the Eastern & Western sides of the destination and the complete development of the communities around the stadium to create vibrant community life. The Phase 3 will see the completion of the master plan development and all communities.
Dyke pointed out that the success of New Murabba rests on the strength of its partnerships.
The destination represents an undertaking of incredible scale and complexity, requiring the collective talents of many organizations. Their expertise, insights, and commitment are what makes our progress possible, he added.-TradeArabia News Service
