RIYADH: Saudi Arabia’s latest downtown project in Riyadh is set to prioritize sustainability as New Murabba Development Co. signs an agreement with the National Housing Co.
Aligning with Vision 2030 standards, the memorandum of understanding aims to unify efforts and enhance cooperation between the two parties, exploring opportunities in the field of environmentally conscious assessment.
The MoU also seeks to achieve future collaboration and common goals to enhance integration, promoting its concept in residential, commercial, and community undertakings within the New Murabba Development campaign.
The project spans an estimated total area of 19 million sq. meters, with a built-up area exceeding 27 million sq. meters, including over 100,000 residential units accommodating up to 450,000 people.
NMDC, launched in February 2023, is currently in the development phase of New Murabba, an innovative urban project in Riyadh. The company aims to create a large, modern, and sustainable downtown that will set a precedent for future urban development, aligning with Saudi Vision 2030.
NMDC, formed through a joint venture with the Public Investment Fund, seeks to play a significant role in the city’s development and growth.
The sustainability evaluation system assesses initiatives at every development stage, categorizing them based on met requirements and points attained.
Communities, residential, and commercial structures undergo appraisal during design and construction phases, categorized into five levels based on awarded points, ranging from 20 points for the green level to 80 or more for the diamond level.
The Sustainable Building program, overseen by the Ministry of Municipal and Rural Affairs and Housing, offers services to enhance real estate sector development, creating more eco-friendly communities and buildings.
It forms a social nucleus that encourages environmental practices, educates individuals and developers about viable options, and reduces material and economic losses associated with construction waste.
Established in 2016, NHC actively works on various construction projects, offering competitive prices while adhering to the highest quality and sustainability standards within residential environments designed to enhance the quality of life.
These projects integrate services, green spaces, vital facilities, and pedestrian paths to ensure safe and easy access to all amenities.
