Saudi Arabia Suspends Construction of Mukaab Megaproject Amid Vision 2030 Review
Work beyond foundational excavation on the colossal cube-shaped skyscraper in Riyadh has been halted as funding and feasibility are reassessed
Saudi Arabia has suspended planned construction of the Mukaab, a massive cube-shaped skyscraper set to be the central landmark of the New Murabba development in Riyadh, while authorities reassess the project’s financing, feasibility and strategic fit within the kingdom’s broader Vision 2030 transformation agenda.
The decision was disclosed by people familiar with the matter, who said that work beyond initial soil excavation and pile foundations has been paused as part of a comprehensive review of several major projects backed by the Public Investment Fund, Saudi Arabia’s $925 billion sovereign wealth fund.
The Mukaab was envisioned as a 400-metre-by-400-metre metal cube featuring an interior dome with an artificial intelligence-driven display and a terraced central ziggurat rising more than 300 metres.
Planned to house retail, hospitality, cultural attractions and immersive experiences, it was designed to become one of the world’s largest single structures by volume.
Work on preparatory groundwork and foundational elements had progressed, but construction beyond that stage has now been halted as the government and fund officials weigh up costs, financing structures and long-term economic returns.
The pause reflects a shift in emphasis within Saudi economic planning and investment priorities, with the Public Investment Fund reportedly focusing on projects expected to deliver more immediate economic impact.
These include infrastructure associated with World Expo 2030 in Riyadh, preparations for the 2034 FIFA World Cup, the sprawling Diriyah mixed-use cultural zone valued at about $60 billion, and the Qiddiya tourism megaproject.
Officials familiar with internal deliberations said fiscal pressures, including lower oil prices than those assumed when Vision 2030 was launched, have contributed to the reassessment.
The New Murabba district, announced in February 2023 as part of Vision 2030, was to feature the Mukaab as its centerpiece alongside extensive residential, cultural and commercial zones.
Initial plans targeted completion by 2030, but published estimates have since pushed the broader district’s timeline toward 2040 as ambitions have been scaled and projects reprioritised.
Although construction of the Mukaab itself is suspended, sources said development of surrounding real estate and infrastructure is expected to continue.
The review mirrors similar recalibrations affecting other high-profile Vision 2030 initiatives, underscoring evolving policy and investment approaches as Saudi Arabia adapts to fiscal realities and prioritises projects with clearer near-term benefits.
Officials from the Public Investment Fund, the New Murabba Development Company and the Saudi government did not respond to requests for comment on the status or future of the Mukaab project.
The decision was disclosed by people familiar with the matter, who said that work beyond initial soil excavation and pile foundations has been paused as part of a comprehensive review of several major projects backed by the Public Investment Fund, Saudi Arabia’s $925 billion sovereign wealth fund.
The Mukaab was envisioned as a 400-metre-by-400-metre metal cube featuring an interior dome with an artificial intelligence-driven display and a terraced central ziggurat rising more than 300 metres.
Planned to house retail, hospitality, cultural attractions and immersive experiences, it was designed to become one of the world’s largest single structures by volume.
Work on preparatory groundwork and foundational elements had progressed, but construction beyond that stage has now been halted as the government and fund officials weigh up costs, financing structures and long-term economic returns.
The pause reflects a shift in emphasis within Saudi economic planning and investment priorities, with the Public Investment Fund reportedly focusing on projects expected to deliver more immediate economic impact.
These include infrastructure associated with World Expo 2030 in Riyadh, preparations for the 2034 FIFA World Cup, the sprawling Diriyah mixed-use cultural zone valued at about $60 billion, and the Qiddiya tourism megaproject.
Officials familiar with internal deliberations said fiscal pressures, including lower oil prices than those assumed when Vision 2030 was launched, have contributed to the reassessment.
The New Murabba district, announced in February 2023 as part of Vision 2030, was to feature the Mukaab as its centerpiece alongside extensive residential, cultural and commercial zones.
Initial plans targeted completion by 2030, but published estimates have since pushed the broader district’s timeline toward 2040 as ambitions have been scaled and projects reprioritised.
Although construction of the Mukaab itself is suspended, sources said development of surrounding real estate and infrastructure is expected to continue.
The review mirrors similar recalibrations affecting other high-profile Vision 2030 initiatives, underscoring evolving policy and investment approaches as Saudi Arabia adapts to fiscal realities and prioritises projects with clearer near-term benefits.
Officials from the Public Investment Fund, the New Murabba Development Company and the Saudi government did not respond to requests for comment on the status or future of the Mukaab project.
