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Saudi Arabia has temporarily halted construction of the Mukaab, the iconic cubic structure planned in Riyadh's New Murabba district, as part of a review of funding, feasibility, and strategic relevance under Vision 2030. While excavation and foundation work were completed, all further construction has been paused. Sources said the Public Investment Fund is prioritizing projects with faster economic returns, including infrastructure for World Expo 2030 and the 2034 FIFA World Cup. Surrounding real estate development will continue, but the future of the Mukaab structure remains uncertain.
Construction on the Mukaab megaproject in Riyadh has been temporarily suspended while authorities reassess its financial feasibility and alignment with broader economic goals. Sources familiar with the matter said that work beyond initial site excavation and foundation pilings has stopped. This decision comes amid rising costs, longer-than-expected timelines, and a focus on projects that can deliver faster economic returns. Advertisement
The Mukaab was designed as a 400-metre by 400-metre cubic landmark, intended to host retail, hospitality, and cultural facilities. Its interior would feature the world's largest artificial intelligence-driven display, visible from a terraced central structure rising over 300 metres. The structure was expected to become a key attraction in Riyadh's New Murabba district.
Officials indicated that the pause reflects the Public Investment Fund's renewed focus on investments that can bring quicker returns, including sectors such as logistics, AI technology, and mining. While no official statement has confirmed the long-term fate of the project, insiders said the review is thorough and may influence its scope and scale.
The New Murabba district is part of Saudi Vision 2030, which aims to diversify the economy and create jobs. Initial plans had targeted completion by 2030, with estimated development costs of around USD 50 billion. Recent evaluations suggest timelines could extend to 2040 due to evolving priorities and fiscal considerations, including oil revenue fluctuations.
Despite the halt on the Mukaab, construction of surrounding infrastructure, roads, and real estate developments is expected to continue. Analysts say the decision underscores the kingdom's pragmatic approach, balancing ambitious urban planning with financial and strategic realities. Several other high-profile projects under Vision 2030 have also been reassessed recently to ensure efficiency and timely returns.
Source Reuters
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