New Murabba Names Sabah Barakat Acting CEO

New Murabba Development Company (Al-Murabba Al-Jadeed), owned by the Public Investment Fund, has appointed Sabah Barakat as Acting Chief Executive Officer, effective in late August 2026. Barakat takes over leadership of one of the largest development projects planned in northwest Riyadh.

The company is the developer behind the New Murabba mixed-use downtown district, a planned smart city center featuring more than 14 million square metres of floor area, over 90,000 residential units, and roughly 25% of its total area set aside as green space. Its signature landmark is the Mukaab, a cube-shaped structure at the heart of the district.

As of 2026, the project remains under development and is not yet operational as a completed downtown. It is currently in the planning, infrastructure design, and early site-works stages. Work on the Mukaab tower structure has been suspended since January 2026 while financing and feasibility are reassessed, though broader real estate and infrastructure works around the site continue.

In January 2026, Parsons was appointed as the Phase 1 infrastructure lead design consultant for the project's site-wide infrastructure. New Murabba has also kept up its international promotion and partner engagement, including presenting the project at MIPIM 2026 in March.

Why it matters

New Murabba is a flagship element of Riyadh's long-term urban growth plans. Its progress is closely watched by residents, investors, and businesses across the capital, as the district is expected to add tens of thousands of homes, extensive green spaces, and new commercial areas once complete. For now, no operating venues, attractions, or resident services are open, as the district remains in its build-out phase.

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