New Murabba Development Co. open to exploring alternative equity, IPO markets
Updated 26 October 2023
REINA TAKLA - NADIN HASSAN
RIYADH: Saudi Arabia’s New Murabba Development Co. is open to tapping into the alternative equity and initial public offering markets at the “right time,” according to a top executive.
Speaking to Arab News on the sidelines of the 7th Future Investment Initiative in Riyadh, Sabah Barakat, acting CEO of NMDC, noted that this all depends on timing as it is still too early.
“The IPO investors want to have a full understanding of the project and make sure that what you’re doing is real and deliverable, and we’re doing everything we can now to set the foundation stones and the enablers so that it’s at the right time,” Barakat said.
He added: “We’ll also be able to tap into the alternative equities and potentially the IPO market. But that’s still a bit too early. But for now, you know, all the funding is being secured by our shareholders.”
New Murabba is an upcoming sustainable mixed-use real estate development situated in northwestern Riyadh.
A subsidiary of the Public Investment Fund, NDMC is set to transform downtown Riyadh by building a unique living, working and entertainment experience.
Barakat shared with Arab News that the project has a substantial investment scale, given its vast expanse of over 27 million sq. meters of gross floor area.
“With all the investments we’re working with, we expect that the project will be profitable and will provide a return to its investors,” he said.
From a technological perspective, Barakat underscored the pivotal role that artificial intelligence will play in the project's development, with a particular focus on energy management.
“Generative AI can be used across all spectrums of the creative space, and the whole inside of the Mukaab is the virtual environment, which we’re doing. We also use AI for a lot of the data analytics,” said Barakat.
He added: “We use AI to help us filter through a lot of large-scale unstructured data, and we think that once you’ve built it and you have your customers live, you need AI to help manage communities at this scale.”
Furthermore, Barakat emphasized that the project is committed to providing significantly more green spaces compared to other areas.
“For an urban downtown, it will be significantly more green than other districts. The percentage we were quoting publicly is 25 percent of the non-road spaces,” said Barakat.
He added: “One of the challenges and opportunities for us is how do we create that green space in the most sustainable way, looking at the type of trees, how they also provide shading. It’s not just planting a tree; it’s where you plant a tree.”
Moreover, he detailed the project’s phased construction timeline, commencing with foundational piling work at the start of the next year, followed by the construction of substructures.
Concurrently, infrastructure enhancements, including road upgrades and drainage network improvements, are underway and set to be finalized by the end of 2026.
“We’ll start with the construction of the buildings, like the apartment buildings and the other units, and we’re hoping our first residents will start picking up their keys maybe in 2027, 2028. But with a view of the overall project completed by 2030,” he concluded.
On the event’s second day, the FII Institute, represented by Chief Operating Officer Rakan Tarabzoni, signed a strategic partnership with New Murabba’s Barakat.
Palm trees, root crops, and coastal plants reveal the land’s story
Updated 19 December 2025
Haifa Alshammari
RIYADH: Saudi Arabia’s land tells stories written beneath the feet. From fertile plains and rugged highlands to vast deserts, the Kingdom’s diverse landscapes shape what can grow, where it grows, and how agriculture can thrive.
Alongside geography and climate, soil conditions play a decisive role in agricultural success. Understanding soil types across the Kingdom helps determine which crops can flourish and what interventions may be needed to sustain them.
In an interview with Arab News, Turki Almutairi, a senior environmental specialist at the National Afforestation Center under the National Center for Vegetation Cover Development and Combating Desertification, outlined the main soil types found across Saudi Arabia.
High amount of salt makes the soil unfit for the production of most crops, even if the soil is fertile. (Supplied)
“The dominant soil in the Kingdom are sandy desert soils, alongside calcareous soils in the central region. Rocky and stony soils are present along mountainous and hilly landscapes,” he said.
“Alluvial soils are common in wadies (valleys), while saline and sodic soils are located in depressions (Sabkhas) and along coastlines. Pockets of clayed soils can be also found around few sites along the Kingdom.”
The Kingdom’s vast territory gives rise to unique soil characteristics in each region, enabling different crops to grow depending on local conditions.
“Soil is the growing medium for plants. The role of soil includes structural stabilization, providing nutrients and a communication medium for plants,” Basil Nasir, soil lead at engineering consultancy William Sale Partnership, told Arab News.
Basil Nasir, soil lead at the engineering consultant company, William Sale Partnership (WSP). (Supplied)
According to Nasir, assessing soil use is essential before determining whether it is fertile or infertile, as different soils support different plant types.
“The soil used for trees differs from the soil used for ornamental plants and from the soil used for aquatic plants. It varies according to the specific needs of each plant, and based on this, we determine what the soil requires and assess its fertility,” he said.
Nasir explained that soil characteristics are shaped by both physical and chemical components. In addition to water and air, mineral particles such as sand, silt and clay are key indicators of soil health. Organic matter, derived from plant and animal remains, forms the fourth major component.
The balance between these elements determines soil behavior. One important physical trait is water-holding capacity, which influences what types of plants a soil can support.
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“If the soil is like dunes, adding water will cause it to run off, but if the soil is clay, its ability to retain water will be very high. If you add water and return the next day, you will find that the water is still there,” said Nasir.
Chemical properties, such as whether soil is alkaline or acidic, are equally important. Understanding both physical and chemical traits allows for proper assessment and treatment when needed.
“What determines whether a plant is suitable for a particular environment is primarily the plant's nature. For example, some plants have fibrous roots and therefore do not require well-draining soil,” Nasir added.
“A palm tree, for example, does not care whether it was planted in one soil or the other because its roots are fibrous. Therefore, palm trees are strong plants and are suitable to grow in both dry and wetlands, while preferring sandy areas.”
Soil Salinity can be treated through Soil leaching which means washing the soil with certain amount of water to reduce the salt in it. (Supplied)
Crops such as potatoes, onions, carrots and beetroots — where the edible part grows underground — typically thrive in sandy soils. As a result, plantations of these crops are commonly found in northern regions such as Hail and in Wadi Ad-Dawasir.
In the eastern region, including Al-Ahsa, wetlands are more common due to climatic conditions. Growing plants in such environments often requires human intervention.
“Plants that are coastal or could be found in lagoons or lakes must have some sort of soil around them, like lotus flowers and mangrove trees.”
“An important parameter to keep in mind is that there is no air in its soil, and they are adapted to this condition. However, the lack of air, along with the presence of organic matter, will create a situation where anaerobic bacteria react with the soil, potentially causing diseases we can easily avoid,” said Nasir.
He emphasized that removing organic matter from such soils is essential to ensure plant survival in aquatic environments.
Mountainous and rocky regions in Saudi Arabia are generally volcanic, resulting in low water-holding capacity and challenging growing conditions. However, volcanic ash contributes to high fertility, allowing certain crops to flourish.
As a result, western regions support tree crops such as coffee, mangoes, some banana varieties and pomegranates.
There are various types of soils such as clay, sandy, silty and loamy. Each type provides excellent conditions for specific plants. (Supplied)
As development accelerates across the Kingdom, soil improvement efforts are expanding under the National Greening Program.
“Soil is considered fundamental for the National Greening Program’s objectives. Understanding the soil variability along the Kingdom is a precondition for fostering sustainable soil management,” Almutairi told Arab News.
Adding, “In this line, the NGP is working towards the establishment of the Saudi Soil Information System (TURBA-KSA), which consists of mapping soils and its functional properties in the Kingdom using state-of-the-art technology.”
He also noted the creation of the “Land Rehabilitation Watch” to report, verify and monitor land rehabilitation nationwide.
“This milestone allows the Kingdom to understand how soil and land health are progressing against national and international targets of land degradation neutrality. Documenting good soil and land management practices is also important, so that those successful practices could be scaled up along the Kingdom, which is a priority task for NGP,” he said.
Raising public awareness is another key pillar of the program.
“Assessing different emerging technologies and soil amendments is a daily activity of NGP, as it then provides technical support to partners on the selection and application of these technologies.”
DID YOU KNOW?
• Saudi Arabia cultivates around 1 million hectares, mainly in Riyadh, Qassim, Hail, and Jouf.
• Farming follows the seasons: winter brings onions, garlic, and carrots, while summer yields watermelon, tomatoes, and cucumbers.
• The Kingdom is a top date producer, with over 31 million palm trees generating nearly 1.54 million tons, especially in Riyadh and Qassim.
Almutairi stressed that soil is often overlooked because it lies unseen beneath the surface, despite its critical role.
Yet soil produces 95 percent of food, stores water, holds more carbon than vegetation and the atmosphere, suppresses contaminants, regulates water, carbon and nutrient cycles, and hosts microorganisms linked to the human microbiome.
He emphasized the need to engage the general public, particularly urban communities disconnected from nature. Education helps people understand where food comes from and how contact with soil — such as walking barefoot — can support well-being. Healthy soils also contribute to cleaner water and air, he added.
Almutairi also called for stronger advocacy among decision-makers, noting that investment in healthy soils supports climate action, food security and sustainable development.
He concluded that key strategies include officially observing UN World Soil Day on Dec. 5, integrating soil education into curricula, launching annual social media campaigns, using art to raise awareness, and organizing public events that connect soils to everyday life.