His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister and Chairman of the New Square Development Company, today, Thursday, launched the New Square Development Company, with the aim of developing the largest <a style="color: #993300;" href="https://amlak. Downtown is a globally modern development in Riyadh, contributing to the future development of the capital in line with the targets of Saudi Vision 2030.
Downtown is a world-class, state-of-the-art development in Riyadh.
The New Square project will be designed with sustainability and quality of life in mind, including green spaces, walking paths, health and wellness concepts, sports and community activities. The project also includes an innovative museum, a university specializing in technology and design, an integrated multi-use theater, and more than 80 areas for live performances and entertainment.
The project is located in the heart of the city. The project is located at the intersection of King Salman and King Khalid roads northwest of Riyadh, on an area of more than 19 km², with a floor area of more than 25 million square meters, with a capacity for hundreds of thousands of residents, as the project will provide 104,000 residential units, 9,000 hospitality units, more than 980,000 square meters of commercial space, 1.4 million square meters of office space, about 620,000 square meters for recreational facilities, and about 1.8 million square meters for community facilities.
The project will provide 104,000 residential units, 9,000 hospitality units, 9,000 commercial spaces that extend to more than 980,000 square meters, in addition to 1.4 million square meters of office space, 620,000 square meters of entertainment facilities, and about 1.8 million square meters of community facilities.
New Square will offer a unique living, working and leisure experience within a 15-minute walk, along with internal transportation. It is approximately a 20-minute drive from the airport. The New Square Development Company will build the iconic "Cube“ to embody a global urban symbol for Riyadh, incorporating the latest innovative technologies and unique features that are the first of their kind, as it will become one of the largest landmarks in the world, with a height of up to 400 meters, 400 meters wide and 400 meters long, and the distinctive geometric shape of the Cube contributes to providing the necessary space to accommodate project details and technologies.
The Cube's distinctive geometric shape contributes to providing the necessary space to accommodate the details of the project and its special technologies.
<The exterior facade of the cube will be inspired by the modern Najdi character in its design and will form a creative technical display panel, while the interior of the cube will offer an exceptional experience through digital and virtual technologies, the latest holographic technologies, in addition to a tower that will be designed in a unique and distinctive way. The Cube will have a floor area of more than (2 million) square meters as a hospitality destination, containing many brands, cultural attractions, attractions for guests and visitors, as well as hotel and residential units, business office spaces, and entertainment facilities.
The launch of the Cube comes in addition to the launch of Tatweer Development Company (TDC).
The launch of the New Square Development Company comes in line with the Public Investment Fund's strategy to unlock the potential of promising sectors, empower the private sector, increase local content, contribute to the development of local real estate and infrastructure projects, and diversify the sources of income of the local economy. The project will contribute to supporting non-oil GDP by up to SAR 180 billion and creating 334,000 direct and indirect job opportunities. The New Square project is expected to be completed in 2030, God willing.
