February 22, 2023

Paper Says New Murabba Will Be Huge Saudi Metaverse Hub

Paper Says New Murabba Will Be Huge Saudi Metaverse Hub Featured Image

Saudi Arabia plans to build a new sci-fi city of the future in Riyadh, named New Murabba, that takes shape of a gigantic cube packed full of metaverse-related technologies.

According to The Daily Star newspaper, New Murabba will be an iconic landmark featuring the latest technologies, including the metaverse as it will be a massive metaverse cube with dimensions of 400 meters high, 400 meters wide, and 400 meters long.

In a tweet, the Public Investment Fund of Saudi Arabia said: “A gateway to another world: #TheMukaab will be the world’s first immersive, experiential destination. Large enough to hold 20 Empire State Buildings, the global icon will feature innovative technologies to transport you to new worlds.” 

At its center, a gigantic spiral tower will at the city’s center, which will be full of massive screens, robots, AI, and holograms. The Saudi government posted a promotional video of the new city, wishing to finish construction before the time of the 2030 World Expo. 

Recently, Saudi Arabia has witnessed applications and agreements related to Web3 technologies, topped by metaverse, during the LEAP 23 Conference, held lately in Riyadh. The Saudi Arabia Digital Government Authority (DGA) has inked a memorandum of understanding with metaverse giant The Sandbox to boost cooperation in the virtual space. 

Meta also plans to set up a Metaverse Academy in Saudi Arabia to be the first of its kind in the Middle East and North Africa (MENA) region. In addition, KPMG, the financial audit, tax, and advisory provider, announced the establishment of a Center of Excellence (CoE) to accelerate the application of metaverse and digital twins in Saudi Arabia. 

The Gulf country also collaborated with King Abdulaziz Foundation for Research and Archives to bring the Saudi National Day to the metaverse.

The metaverse is expected to contribute $15 billion to the economies of the Gulf countries by 2030 given that their governments are tapping into the virtual space, according to a study by Strategy&.

Saudi Arabia topped the GCC countries in terms of metaverse contributions, as it is predicted to account for $7.6 billion by 2030 (more than half of the figure. While the UAE came second with an expected share of $3.3 billion.

Tags :
Author profile

Whether you want to learn about NFT, Blockchain, Web3.0, Metaverse, or any other emerging technologies, we have the vital resources that will enlighten and help you make an informed decision.