MEGA PROJECTS UPDATE

SAUDI Arabia's ambitious slate of mega-projects continues to gain momentum, with significant strides observed across key developments. From the ramping up of work on the futuristic New Murabba district in Riyadh to the resumed construction of the record-breaking Jeddah Tower, the kingdom is forging ahead with its transformative Vision 2030. This update delves into a some of the giga-projects that have made news in recent months:

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NEW MURABBA

The New Murabba project is progressing rapidly, with major groundwork nearly complete and tenders issued for the vertical construction. The transformative urban development in Riyadh is positioned to create a new downtown district spanning 19 sq km. Anchored by the iconic Mukaab structure, the project is set to redefine the city’s skyline and urban experience, integrating luxury living, advanced technology, sustainability, and immersive entertainment.

According to updates on X (formerly Twitter), some 60 million cu m of earth has been moved at the iconic Mukaab — massive 400-m cube-shaped structure that will be the centerpiece of the new downtown — and surrounding podium sites. Piling work contracts for the Mukaab have been awarded to HSSG Foundation Contracting, and tenders for the raft foundation are being evaluated. The developer, New Murabba Development Company — a unit of PIF — is now seeking firms for three new major construction packages for the Mukaab: Central Core Tower, Outriggers, and Vertical Ribs potentially valued at up to $2.6 billion, according to media reports.

In a separate development, the design for the New Murabba Stadium was unveiled last year. Inspired by the local Acacia tree, the 45,000+ capacity stadium will feature cutting-edge sporting technology and is slated for completion by the end of 2032.

NEOM

NEOM, the kingdom's ambitious $500 billion futuristic city, continues to advance on multiple fronts, with recent LinkedIn updates and media updates highlighting progress on The Line, significant infrastructure deals, and new luxury tourism developments (see Page 14).