IRHM, Your Global Window into Real Estate and Hospitality

January 2, 2026

Public Investment Fund

New Murabba has formalised a strategic partnership with Saudi Arabia's Ministry of Municipalities and Housing to streamline urban development in Riyadh. The agreement covers land use integration, green space expansion and the adoption of global best practices for infrastructure. By aligning architectural identities and smart city strategies, the two bodies aim to deliver a sustainable modern downtown. The deal also focuses on traffic safety and community participation as part of the broader Saudi Vision 2030.
ACWA Power has secured $3.4 billion in financing to develop two major gas-fired power plants in Saudi Arabia, adding 3.6 GW to the grid as electricity demand grows.

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