New Murabba Development Company, a unit of Saudi wealth fund PIF, said it has played a major role at the recent Future Hospitality Summit (FHS) in Dubai as its platinum sponsor.
At the three-day event, the New Murabba executive team, led by its CEO Michael Dyke engaged with major stakeholders across the hospitality spectrum, including industry leaders, investors and developers, while sharing the group's ambitious vision for sustainable growth in the sector.
Dyke outlined the company’s roadmap for advancing the hospitality landscape.
As a forward-thinking player in the hospitality industry, New Murabba is committed to seizing opportunities and staying ahead of industry trends, he stated.
New Murabba will incorporate 27 million sq m of premium real estate distributed across 18 communities, with an estimated population exceeding 400,000. This destination will serve as a model for urban planning, boasting seamless transportation and sustainable infrastructure.
Furthermore, it will accommodate over 100,000 residential units, 9,000 hotel rooms, and 500,000 sq m of retail space. Additionally, it will feature various entertainment venues, educational institutions, healthcare facilities, and a 45,000-seat stadium.
"New Murabba is redefining urban living with its "born smart" city concept, offering over 100,000 modern, high-quality homes. With world-class amenities, state-of-the-art schools and healthcare facilities, and seamless integration with the broader Riyadh metropolitan area, it provides unmatched convenience," he stated.
During the event, Dyke presented an ambitious plan focused on the development of infrastructure, the establishment of seamless transportation systems, the improvement of recreational facilities, and the modernisation of lifestyle amenities.
These efforts are central to revitalising key hospitality sectors, including hotels, hospitality centres, and retail destinations, he noted.
On the key sponsorship, Dyke said this reaffirms the group's dedication to becoming a key player in the global tourism and hospitality industry.
"Through active participation in discussions that shape the future of hospitality, New Murabba poised to make a lasting impact on the Kingdom of Saudi Arabia and beyond, he stated.
Dyke pointed out that its goal was to establish New Murabba as a premier destination for tourism and hospitality in the region.
"We are fully committed to pushing boundaries, setting new benchmarks in sustainable urban development, and embracing the ongoing evolution of this dynamic industry," he stated.
"We believe that the hospitality sector plays a crucial role in fostering vibrant communities and boosting the local economy," he added.
During the summit, Dyke joined the renowned BBC presenter, Stephen Sackur, for an exclusive television interview, where they discussed New Murabba’s forward-looking vision and its latest developments.
In addition, New Murabba Director of Development, Stephen Rossouw, participated in a panel discussion titled “Branded Residences: A New Era in Real Estate Investment,” delving into how New Murabba plans to transform the hospitality landscape.
One of the major highlights of the event was Mukaab, which is set to become the world's largest and most complex structure.
"Spanning over 2 million sq m of floor space, the Mukaab redefines luxury with immersive shopping, dining, and cultural experiences," explained Rossouw.
"Comprising mixed-use properties that encompass all asset classes, this awe-inspiring cube-shaped structure, standing 400 m in width, height, and depth, is large enough to house 20 Empire State Buildings," he stated.
"It seamlessly integrates modern Najdi architectural design with state-of-the-art digital and holographic technologies, offering visitors a unique fusion of premium hospitality, retail, cultural experiences, and entertainment," he added.-TradeArabia News Service
