As of June 2026, The Mukaab, the cube shaped megastructure planned as the centrepiece of the New Murabba downtown in Riyadh and once billed as the largest building in the world, has entered a markedly different phase from the confident progress reported in early 2025. In January 2026 it was reported that Saudi Arabia suspended planned construction on the structure while it reassessed the project’s financing and feasibility, with work beyond soil excavation and piling placed on hold. Development of the surrounding New Murabba real estate is set to continue, but the headline tower itself is paused while the review runs.
Why the New Murabba Timeline Slipped to 2040
The most significant change is the timeline. New Murabba was originally aimed at completion by 2030, but the district is now slated for 2040, with chief executive Michael Dyke telling reporters that the team chose to slow down before speeding up and warning against fanfare without substance behind it. The reassessment follows mounting fiscal pressure on the Public Investment Fund as oil prices stayed below the level needed to fund Vision 2030 comfortably, and the state budget published in December 2025 notably omitted specific references to flagship megaprojects. Before the pause, excavation at the Mukaab and surrounding podium sites had reached 86 percent completion by October 2025, with more than 10 million cubic metres of earth moved, according to New Murabba. Even so, property consultancy Knight Frank estimated that only about US$100 million in contracts had been awarded against a district budget of roughly US$50 billion.
How Diriyah’s Waldorf Astoria Award Reframes the Picture
The pause stands in sharp contrast to the pace elsewhere in Riyadh. In June 2026, fellow PIF developer Diriyah Company awarded the main construction contract for its Waldorf Astoria super block to a joint venture of Egypt’s Hassan Allam Construction Saudi and Qatar linked UCC Saudi, a deal reported by MEED at SAR2.7 billion, or about US$720 million. That 241,000 square metre scheme, anchored by a hotel with 200 keys, 47 branded residences and offices, is the kind of phased, revenue generating asset the kingdom is now prioritising over experimental landmarks. The divergence shows the Public Investment Fund steering capital toward developments that can open and earn sooner, while the more audacious Mukaab waits for its financing and engineering questions to be settled.
What Comes Next for the Mukaab
Design work has not stopped. Parsons was appointed infrastructure lead design consultant on a 60 month contract in January 2026, while a joint venture of Aecom and Jacobs leads design across the Mukaab district and Kohn Pedersen Fox handles the first residential community. Site preparation, utilities and early peripheral buildings continue across the 19 square kilometre site, even as the raft and tower packages stay on hold pending the outcome of the review. Whether the cube resumes at full ambition or in a trimmed form, as has happened at Neom’s The Line, is the open question that will define New Murabba over the rest of the decade.
Project Overview
- Project Name: The Mukaab, centrepiece of the New Murabba development
- Location: New Murabba downtown, northwest Riyadh, Saudi Arabia
- Developer/Owner: New Murabba Development Company, owned by the Public Investment Fund
- Total Cost/Value: District estimated at about US$50 billion by Knight Frank; only around US$100 million in contracts awarded to date
- Scale/Capacity: 400 metre cube on a 19 square kilometre site; New Murabba planned for more than 104,000 homes, 9,000 hotel rooms and around 300,000 residents
- Construction Start: Excavation and piling underway from 2024; main structure works now suspended
- Expected Completion: Pushed from 2030 to 2040, and possibly later, per chief executive Michael Dyke
- Funding/Financing: Public Investment Fund, under review amid Vision 2030 cost recalibration
- Current Status: Mukaab tower construction suspended as of January 2026; surrounding real estate continuing
- Key Milestone: Excavation at the Mukaab and podium sites reached 86 percent completion by October 2025, with over 10 million cubic metres moved
Project Team
- New Murabba Development Company: Developer and owner
- Public Investment Fund: Owner and financier
- China Harbour Engineering Company: Excavation works contractor
- HSSG Foundation Contracting: Foundation works contractor
- Parsons Corporation: Infrastructure Lead Design Consultant
- Aecom: Mukaab District Lead Design Consultant, in joint venture
- Jacobs: Mukaab District Lead Design Consultant, in joint venture
- Kohn Pedersen Fox: Lead Design Consultant for the first residential community
- Falcons Creative Group: Creative vision and immersive experiences
- Knight Frank: Cost and project value estimates
- Diriyah Company: Developer of the comparator Waldorf Astoria super block, also PIF owned
- Hassan Allam Construction Saudi: Main contractor on the Waldorf Astoria super block, in joint venture
- UCC Saudi: Main contractor on the Waldorf Astoria super block, in joint venture
Reported 25th February 2025: A recent update on The Mukaab in Saudi Arabia, which will be the largest building in the world, has shown that a large amount of earth has been excavated. Furthermore, officials have confirmed that the target to excavate an average of 30 km squared per day in 2024 was met. In addition, five out of six bridge spans have been completed and the new headquarters is nearly complete. The first phase of the project is expected to be completed by 2030 and will house approximately 35,000 people. The 8,000 homes will be ready to show by the time Saudi Arabia is hosting the Expo2030, a trade show with over 190 nations represented.
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Details on The Mukaab Saudi Arabia
The Mukaab will measure 400 metres in height, 400 metres in width and 400 metres in length, essentially, a cube. It has been estimated to cost US$50 billion and will boast over 2 million square metres of floor space. It has been famously claimed that it will be large enough to fit 20 Empire State Buildings inside. Moreover, it will include the world’s first fully-enclosed skyscraper and a dome that will display holographic images. These images will “transport patrons of the building’s 500-room hotel to different places around the world.”
Controversy surrounding the structure
The mega structure has, however, been shrouded in controversy. Muslims have brought complaints about its resemblance to the Kaaba, a stone building in the holy city of Mecca. Coupled with the staggering number of construction deaths in the country, there has been keen attention on the nation as it attempts to deliver major projects such as this and The Line. Nonetheless, Saudi Arabia is making efforts to establish itself as a tourist destination, as many countries in the Middle East are, in order to move away from its reliance on oil production.
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