Saudi Arabia Suspends Work on Mukaab Megaproject

Saudi Arabia has suspended the planned construction of the Mukaab, a giant cube-shaped skyscraper at the heart of a major downtown Riyadh development, while authorities reassess the project's financing and feasibility, according to sources familiar with the matter.

A flagship project of Crown Prince Mohammed bin Salman’s Vision 2030 strategy, the Mukaab is the latest in a series of high-profile megaprojects to face delays or scaling back as Saudi Arabia’s $925 billion Public Investment Fund (PIF) seeks to control costs and prioritize investments more carefully. The kingdom has been reducing spending on futuristic developments such as The Line within NEOM, shifting its focus toward projects considered more urgent and potentially more profitable.

These priorities include infrastructure linked to the 2030 World Expo and the 2034 FIFA World Cup, as well as major developments in Diriyah and Qiddiya.

The strategic shift comes amid increasing budgetary pressures, with oil prices remaining below the levels required to fully fund the kingdom’s ambitious economic transformation program.

Designed as a metallic cube measuring 400 meters on each side, the Mukaab was intended to house a massive dome featuring an artificial intelligence-powered immersive display system visible from within a structure rising more than 300 meters high. “When you enter the Mukaab, you enter another world,” project CEO Michael Dyke said in December, while acknowledging the project's engineering complexity.

According to several sources, construction activities were halted after excavation and foundation works had been completed. However, the broader real estate development surrounding the site is expected to continue.

Neither Saudi Arabia’s Public Investment Fund, the government, nor representatives of the New Murabba project have commented on the reports.