News
“New Murabba Project” in Riyadh: A Gateway to a New World, Aiming for 90 Million Visitors Annually by 2030
The Total Project Cost is estimated at 50$ Billion
The “New Murabba Project” is set to become one of Saudi Arabia’s most ambitious mega-projects under Vision 2030. Spanning 19 square kilometers in northwest Riyadh, the development is anchored by its iconic centerpiece, “The Mukaab”, which is expected to attract over 90 million visitors annually after its completion, according to Michael Dyke, CEO of the project development company.
The Mukaab: An Immersive Experience in Riyadh
The Mukaab is the main attraction of the New Murabba Project, designed with a futuristic interpretation of Najdi architectural styles. Measuring 400 meters in height, width, and depth, the cube-shaped structure features over 400,000 square meters of immersive digital technology, providing visitors with unique experiences that replicate various global and extraterrestrial environments.
“Inside the Mukaab, we are building a gateway to another world. Visitors will feel as if they’re in New York City, an African savannah, or even Mars, thanks to cutting-edge augmented and virtual reality technologies,” said Dyke.
In addition to its immersive experiences, the Mukaab will house:
- A state-of-the-art museum.
- A university for technology and design.
- A multi-purpose theater featuring world-first immersive performances.
New Murabba Project Transforming Riyadh: Objectives and Impact
The New Murabba Project is envisioned as Riyadh’s new city center, offering an integrated living environment where residents can access essential services within 15 minutes by foot, bike, or public transportation.
Beyond the Mukaab, the project includes the development of residential and commercial neighborhoods, accommodating hundreds of thousands of residents to meet Riyadh’s growing housing demand. With the city’s population expected to rise from 7.8 million in 2024 to 8.5 million by 2030, the project aligns with the capital’s urban development goals.
Progress Amid Global Challenges
Despite global economic uncertainties, the project remains on schedule, with full completion expected by December 2030—just in time for Riyadh’s hosting of Expo 2030.
Key updates include:
- 86% of excavation work beneath the Mukaab completed.
- Ongoing foundational work and upcoming contracts for detailed designs and structural steel.
Financing and Strategic Partnerships
The New Murabba Project is managed by the New Murabba Development Company, owned by Saudi Arabia’s Public Investment Fund (PIF). While the total project cost is estimated at $50 billion, initial investments have reached $100 million, with efforts underway to secure additional funding through strategic partnerships with local and international investors.
“We’re in discussions with industry partners and traditional investors to finance not just the infrastructure but also other critical aspects of the project,” Dyke confirmed.
A Visionary Role in Saudi Arabia’s Future
The New Murabba Project is a key component of Vision 2030, contributing to the Kingdom’s goal of reducing oil dependence and diversifying its economy. By attracting 40% of its visitors from abroad, the project plays a vital role in meeting Saudi Arabia’s target of welcoming 150 million annual visitors by 2030.
Upon completion, the New Murabba Project will establish Riyadh as a global hub for architectural innovation and technological advancement. The Mukaab, a symbol of Saudi Arabia’s vision and ingenuity, will not only redefine urban living but also position the Kingdom as one of the world’s leading tourist destinations.
Facts and Figures About the New Murabba Project
The New Murabba Project is poised to become Riyadh’s newest downtown district, featuring a comprehensive mix of assets and opportunities for investors and partners. Spanning an impressive area of over 19 square kilometers, the project integrates green spaces, modern infrastructure, and cutting-edge urban design to create a vibrant community hub. With more than 10 square meters of green space allocated per person, the project highlights its commitment to sustainability and enhancing quality of life.
In terms of economic impact, the New Murabba is projected to contribute SAR 180 billion to Saudi Arabia’s non-oil GDP and generate approximately 334,000 jobs by 2030. This dynamic urban center is not only a residential and commercial hub but also a cornerstone of Riyadh’s vision for a sustainable and innovative future.
Here are 12 key facts and figures about the New Murabba Project:
1 – Population and Visitors: The project is designed to accommodate 450,000 residents, visitors, and daily commuters, making it a bustling and active urban district.
2 – The Cube Tower: At the heart of the project lies the iconic Cube Tower, a massive structure measuring 400 meters in height, width, and length, symbolizing the innovative spirit of the development.
3 – Land Area: The total land area of the project spans 19 million square meters (19 square kilometers), offering ample space for diverse facilities and activities.
4 – Built-Up Area: The total built-up area of the New Murabba amounts to 27 million square meters, reflecting its scale and ambition.
5 – Housing Units: The project will feature over 100,000 residential units, providing diverse living options to suit various preferences and lifestyles.
6 – Office Space: With 1.4 million square meters of office space, the project will cater to a growing business community.
7 – Commercial Spaces: The New Murabba includes 980,000 square meters of retail and commercial spaces, offering vibrant shopping and dining experiences.
8 – Hotels: Featuring more than 9,000 hotel rooms, the project is set to attract tourists and business travelers alike.
9 – Community Facilities: A significant portion of the project—1.8 million square meters—is dedicated to community amenities, ensuring residents and visitors have access to essential services.
10 – Entertainment Areas: The project boasts 620,000 square meters of entertainment facilities, reinforcing its position as a destination for leisure and recreation.
11 – Efficient Mobility: Despite its vast size, the New Murabba is designed for seamless navigation. Thanks to advanced transportation systems, individuals can explore the entire district in just 15 minutes.
12 – Sustainability Focus: The project emphasizes sustainable energy solutions, aiming to align with global environmental standards and minimize its ecological footprint.
Read More:
Riyadh Metro Set to Launch in Early 2025: A Game Changer in Urban Transport
News
UAE Construction Market to Reach AED 614 Billion by 2031 as PropTech Adoption Grows
UAE construction market projected to reach AED 614 billion by 2031
The UAE’s construction sector is set to continue its upward trajectory over the coming years, with the market projected to reach AED 614.38 billion by 2031, according to market intelligence and advisory firm ‘Mordor Intelligence’.
The continued expansion is supported by sustained public and private investment, major urban development plans, infrastructure projects and growing demand across residential, hospitality, logistics and other sectors. Dubai remains a key contributor to this growth, accounting for 47.2% of the UAE construction market in 2025, according to the report.
As the scale and complexity of construction projects across the UAE continue to increase, technology is also becoming an increasingly important component of the development process. From digital design and Building Information Modelling (BIM) to immersive visualization and virtual experiences, technology is enabling developers, architects and investors to evaluate projects in greater detail before construction begins.
Lifesize Plans Dubai, a leading provider of full-scale architectural plan projection and immersive visualization, has been contributing to the UAE’s evolving real estate and construction landscape since entering the market in 2023. By combining full-scale physical projections with Virtual Reality (VR) and Augmented Reality (AR), the company enables users to explore different floor-plan configurations, finishes and design options during the pre-construction stage.
Georges Calas, CEO of Lifesize Plans Dubai, commented: “The continued expansion of the UAE’s construction market reflects the scale of development taking place across the country and the growing expectations of both developers and buyers. As projects become more sophisticated, we believe that allowing people to experience a property before it is built can provide a valuable additional layer of understanding and reassurance, while helping to identify potential considerations before construction begins.”
With infrastructure forecast to be one of the UAE construction market’s fastest-growing segments through 2031, alongside continued activity across residential, commercial and hospitality developments, the demand for technologies that can improve project visualization and decision-making is expected to continue evolving.
As the UAE’s construction and real estate sectors progress, complementary technologies such as immersive visualization and PropTech are increasingly positioned to play a role in improving design communication, enhancing the customer experience and supporting more informed decisions throughout the development lifecycle.
About Lifesize Plans Dubai:
Lifesize Plans Dubai is the UAE’s premier provider of full-scale architectural plan projection and virtual walkthroughs. By combining physical-scale visualizations with immersive technology, the company bridges the gap between concept and construction—helping clients experience, evaluate, and enhance their projects before building begins.
The UAE’s construction sector is set to continue its upward trajectory over the coming years, with the market projected to reach AED 614.38 billion by 2031, according to market intelligence and advisory firm ‘Mordor Intelligence’.
The continued expansion is supported by sustained public and private investment, major urban development plans, infrastructure projects and growing demand across residential, hospitality, logistics and other sectors. Dubai remains a key contributor to this growth, accounting for 47.2% of the UAE construction market in 2025, according to the report.
As the scale and complexity of construction projects across the UAE continue to increase, technology is also becoming an increasingly important component of the development process. From digital design and Building Information Modelling (BIM) to immersive visualization and virtual experiences, technology is enabling developers, architects and investors to evaluate projects in greater detail before construction begins.
Lifesize Plans Dubai, a leading provider of full-scale architectural plan projection and immersive visualization, has been contributing to the UAE’s evolving real estate and construction landscape since entering the market in 2023. By combining full-scale physical projections with Virtual Reality (VR) and Augmented Reality (AR), the company enables users to explore different floor-plan configurations, finishes and design options during the pre-construction stage.
Georges Calas, CEO of Lifesize Plans Dubai, commented: “The continued expansion of the UAE’s construction market reflects the scale of development taking place across the country and the growing expectations of both developers and buyers. As projects become more sophisticated, we believe that allowing people to experience a property before it is built can provide a valuable additional layer of understanding and reassurance, while helping to identify potential considerations before construction begins.”
With infrastructure forecast to be one of the UAE construction market’s fastest-growing segments through 2031, alongside continued activity across residential, commercial and hospitality developments, the demand for technologies that can improve project visualization and decision-making is expected to continue evolving.
As the UAE’s construction and real estate sectors progress, complementary technologies such as immersive visualization and PropTech are increasingly positioned to play a role in improving design communication, enhancing the customer experience and supporting more informed decisions throughout the development lifecycle.
About Lifesize Plans Dubai:
Lifesize Plans Dubai is the UAE’s premier provider of full-scale architectural plan projection and virtual walkthroughs. By combining physical-scale visualizations with immersive technology, the company bridges the gap between concept and construction—helping clients experience, evaluate, and enhance their projects before building begins.
News
Qatar Development Bank Opens Applications for MANARAT, Offering Ready-Built Facilities to Help Manufacturers Adopt Industry 4.0 Technologies
Qatar Development Bank has launched Manarat, a new advanced manufacturing hub offering 16 ready-built factory units for technology-driven manufacturers, as Qatar seeks to accelerate Industry 4.0 adoption and develop factories capable of joining the World Economic Forum’s Global Lighthouse Network.
Qatar Development Bank (QDB) has launched the Advanced Manufacturing Hub (Manarat), a new industrial complex designed to accelerate the adoption of advanced manufacturing technologies and build a new generation of high-tech factories in Qatar.
Developed in partnership with the Centre for the Fourth Industrial Revolution (C4IR) at the Ministry of Finance and the Ministry of Commerce and Industry, Manarat is opening applications for 16 ready-built factory units located in Qatar’s New Industrial Area.
The initiative targets both Qatar-based manufacturers and international investors operating in technology-intensive industries, combining physical manufacturing infrastructure with advisory, financing and export support from QDB.
Manarat Targets Industry 4.0 Manufacturing
Manarat is designed around Fourth Industrial Revolution technologies, including automation, artificial intelligence and advanced digital systems that can improve factory productivity, efficiency and competitiveness.
The industrial complex will focus primarily on strategically important manufacturing sectors including medical devices, pharmaceuticals, electronics and telecommunications, robotics and chemicals, alongside other related industries.
Companies applying to Manarat will undergo a two-stage assessment. The first evaluates eligibility and technical readiness, while the second examines the technical and commercial viability of their proposed manufacturing projects.
The model is intended to bring technology-driven manufacturers, investors and expertise into a shared industrial ecosystem where companies can exchange knowledge while developing more sophisticated production capabilities.
Qatar Wants Factories to Join WEF’s Global Lighthouse Network
The name Manarat, meaning “Lighthouses,” reflects one of the initiative’s longer-term ambitions: helping factories operating from the hub develop toward the standards associated with the World Economic Forum’s Global Lighthouse Network.
The network recognizes manufacturing sites that have demonstrated advanced deployment of Fourth Industrial Revolution technologies and significant transformation of their operations.
Manarat is being developed through cooperation with the World Economic Forum’s Centre for the Fourth Industrial Revolution, with smart infrastructure and technology adoption forming central parts of the initiative.
Dr. Hamad Salem Mejegheer, QDB’s Executive Director of SME Development, said the hub is intended to help companies expand production capacity, attract international expertise and develop specialized knowledge locally.
“Investing in advanced manufacturing is a key pillar in strengthening Qatar’s position as a leading regional hub for industrial innovation and enabling our factories to join the WEF’s Global Lighthouse Network,” Mejegheer said.
QDB Combines Factory Space With Financing and Export Support
Manarat goes beyond providing industrial space. QDB plans to offer participating manufacturers an integrated support structure that includes advisory services, financing solutions and export support.
For international companies, the hub provides a potential route into Qatar’s manufacturing sector through ready-built facilities and access to a wider development ecosystem. For local manufacturers, it is intended to reduce barriers to adopting advanced technologies and expanding production.
Dr. Abdulaziz Khalid Al-Ali, Director of C4IR at the Ministry of Finance, said Manarat will provide infrastructure and standards aligned with international efforts to accelerate Industry 4.0 adoption.
The Ministry of Commerce and Industry is also seeking to increase the digital readiness of Qatari factories and encourage greater use of automation, AI and advanced digital solutions.
Qatar’s Industrial Investments Reach QAR 248.44 Billion
The initiative forms part of the Qatar National Manufacturing Strategy 2024–2030, which seeks to increase manufacturing’s contribution to non-hydrocarbon GDP, localize production and create specialized jobs in advanced technology.
Cumulative investment in Qatar’s industrial sector reached QAR 248.44 billion in the second quarter of 2026, according to figures cited by the Ministry of Commerce and Industry.
Manarat adds a dedicated advanced manufacturing component to those efforts, targeting industries where technology, specialized expertise and sophisticated production infrastructure can create higher-value economic activity.
By combining 16 ready-built factories with technology infrastructure and QDB’s financing, advisory and export capabilities, the initiative aims to help manufacturers move toward smarter production models while supporting Qatar’s broader push for economic diversification and a knowledge-based economy.
News
MoneyHash Partners With Geidea to Give Businesses Unified Access to Payment Infrastructure Across Saudi Arabia, UAE and Egypt
Payment orchestration platform MoneyHash has partnered with regional fintech Geidea, enabling businesses to access Geidea’s online payment gateway and supported payment methods across Saudi Arabia, the UAE and Egypt through a single MoneyHash integration.
Payment orchestration platform MoneyHash has partnered with regional payments company Geidea to expand the payment capabilities available to businesses across Saudi Arabia, the UAE and Egypt.
Through the partnership, companies already integrated with MoneyHash will be able to access Geidea’s online payment gateway and supported payment methods without building and maintaining a separate technical integration.
The collaboration adds Geidea to MoneyHash’s unified payment infrastructure, allowing merchants to manage its services alongside other payment providers and methods through the same orchestration layer.
One Integration for Multiple Payment Providers
MoneyHash is building infrastructure designed to reduce the technical complexity businesses face when operating multiple payment providers.
Traditionally, companies expanding into new markets often need to integrate separately with different gateways, acquirers and local payment methods. Each additional integration requires engineering resources to build, maintain and monitor, making payment infrastructure increasingly complex as businesses scale.
Payment orchestration platforms address that problem by creating a common infrastructure layer connecting businesses to multiple providers through a single integration.
Under the new partnership, businesses using MoneyHash can activate Geidea’s capabilities within that existing infrastructure rather than creating a separate connection.
“Businesses should be spending their time building great products, serving customers, and growing into new markets, not repeatedly rebuilding and maintaining payment infrastructure,” said Nader Abdelrazik, CEO and Co-founder of MoneyHash.
“Bringing its strong regional payment capabilities into the MoneyHash ecosystem gives businesses a simpler way to access the infrastructure they need while we take care of the complexity behind the scenes.”
Geidea Adds Regional Payment Capabilities
Founded in Saudi Arabia in 2008, Geidea has developed into a regional payments provider operating across Saudi Arabia, the UAE and Egypt.
The company has payment acquiring capabilities in Saudi Arabia and the UAE and payment aggregation capabilities in Egypt. Its broader offering includes online payment gateways, point-of-sale systems, payment terminals and business management tools.
Integrating those capabilities into MoneyHash gives merchants another route to accessing payment infrastructure across three major Middle Eastern and North African markets.
Pankaj Kundra, CEO of Geidea UAE, said the partnership is designed to give businesses greater flexibility in managing payments as they expand.
“Our collaboration with MoneyHash makes Geidea’s payment capabilities easier to access through a flexible, connected infrastructure,” Kundra said. “Together, we’re giving businesses greater choice and flexibility in how they manage payments and scale across the region.”
MoneyHash Targets Payment Complexity in Emerging Markets
MoneyHash provides a payment orchestration platform that allows businesses to integrate and operate multiple payment services through a single API.
Its infrastructure includes smart payment routing, multi-currency processing and a unified dashboard, allowing companies to manage different parts of their payment stack from one system.
That model is particularly relevant for companies operating across multiple markets, where payment preferences, providers and infrastructure can vary considerably between countries.
Instead of replacing individual payment providers, MoneyHash acts as the infrastructure connecting them, allowing businesses to add or change payment capabilities without rebuilding significant parts of their underlying payment systems.
Partnership Targets a More Flexible Regional Payments Stack
The collaboration comes as digital businesses across the region increasingly operate across borders, creating demand for payment infrastructure capable of adapting to different markets and customer preferences.
For MoneyHash, adding Geidea strengthens the range of regional payment capabilities accessible through its orchestration platform. For Geidea, the integration provides another distribution channel through which businesses can access its services.
The partnership was marked during Seamless Middle East in Dubai, where Abdelrazik and Kundra met ahead of the official announcement.
As both companies expand their presence in the region’s digital payments ecosystem, the integration is designed to give merchants greater flexibility to activate new payment services and enter additional markets without repeatedly rebuilding their payment infrastructure.
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