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Saudi Arabia Delays Mukaab Project Amid Economic Pressures

1/28/2026

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Summary

Story summary

Saudi Arabia has suspended the construction of the Mukaab in Riyadh to reassess the project's financing and feasibility.
The move reflects a broader shift in Vision 2030 as fiscal pressures from low oil prices mount.
Saudi Economy Minister Faisal al-Ibrahim confirmed that projects will be delayed and re-scoped.
The New Murabba district, initially due for completion by 2030, is now expected to finish by 2040, with significant economic implications.

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Story summary

Saudi Arabia has suspended the construction of the Mukaab in Riyadh to reassess the project's financing and feasibility.
The move reflects a broader shift in Vision 2030 as fiscal pressures from low oil prices mount.
Saudi Economy Minister Faisal al-Ibrahim confirmed that projects will be delayed and re-scoped.
The New Murabba district, initially due for completion by 2030, is now expected to finish by 2040, with significant economic implications.