Saudi Arabia aims for huge new downtown in Riyadh by 2030

By Muhammad JuniadPublished On 01 Mar 2023

Saudi Arabia's Crown Prince Mohammed bin Salman Al Saud has unveiled plans to create the world's largest modern downtown in Riyadh through the newly launched New Murabba Development Company.

The project, set to be completed by 2030, is expected to contribute 180 billion Saudi Riyals (48.6 billion U.S. dollars) to the country's non-oil GDP and create 334,000 direct and indirect jobs.

The downtown will cover 19 square km and host a range of attractions, including a museum, a technology and design university, and more than 80 entertainment and culture venues.

This initiative is part of Saudi Arabia's Public Investment Fund's efforts to diversify the country's sources of income, boost the non-oil sector and create job opportunities.