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New Murabba Development Company will offer numerous opportunities for international investors seeking to participate in New Murabba development, CEO Michael Dyke said.
“New Murabba offers numerous investment opportunities for global investors looking to engage with emerging markets,” he said at the MIPIM 2024 event in Cannes, France.
“One of our key mandates is to encourage private investment, which will contribute to reshaping urban development on a global scale. Investing in New Murabba presents a unique opportunity for first movers to participate in a market that is outperforming many other global destinations.”
No specific details were given on the opportunities available for the private sector.
New Murabba has already made significant progress in laying the groundwork for Mukaab, the cube-shaped building at the heart of the development. Almost 4 million cubic meters of material have been excavated.
The 19-square kilometre mixed-use development will become the core of Riyadh’s downtown.
(Editing by Anoop Menon)
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