New Murabba Development Company, a fully owned subsidiary of the Public Investment Fund, participated in the Association for the Advancement of Cost Engineering Saudi Arabia Conference, held between April 17-18, in Riyadh’s Al-Faisaliah Hotel. The conference, under the theme “Navigating the Future: Innovations in Project Control,” provided a platform for industry leaders to convene and discuss the impact of emerging technologies on project controls, alongside strategies for enhancing collaboration in complex projects.
Highlighting New Murabba’s commitment to both innovation and sustainability, Michael Dyke, CEO of New Murabba Development Company, outlined the company’s focus on leveraging cutting-edge technologies like artificial intelligence, big data, digital twins, and 3D modeling.
HIGHLIGHT
New Murabba recognizes that AI and big data can be powerful assets in a project manager’s toolkit, through which they can gain valuable insights and make informed decisions.
New Murabba Development Company is currently in the development phase of New Murabba Modern Downtown, a transformative urban development in Riyadh. The company is creating the world’s most transformative and modern city center, which will serve as a model for future urban development and contribute to the city’s evolution in line with Saudi Vision 2030.
New Murabba recognizes that AI and big data can be powerful assets in a project manager’s toolkit. By leveraging these tools alongside other methodologies, project managers can gain valuable insights from vast datasets, enabling them to make informed decisions that can expedite project completion and minimize unforeseen challenges.
Dyke’s address acknowledged the challenges associated with adopting new technologies, such as responsible data management, potential biases in AI, and integrating new systems with existing workflows. Moreover, it emphasized New Murabba’s unwavering commitment to overcoming these hurdles and establishing itself as a model for future urban development, where the latest solutions seamlessly integrate with a vibrant, human-centered experience.
The conference also addressed the evolving landscape of project controls in the context of sustainable and resilient infrastructure development.
“New Murabba, with its dedication to 25 percent green area allocation, energy-efficient practices, and a focus on circular economy principles, exemplifies a commitment to shaping the future of sustainable and resilient cities. Robust tracking systems for environmental impact, including resource consumption, carbon emissions, and waste generation, are a very important part of this and reflect the strong project controls in place,” said Dyke.
New Murabba’s AACE Saudi Arabia Conference participation reinforces its commitment to innovation and collaboration. By embracing new technologies and prioritizing sustainable practices, New Murabba is poised to become a model for future urban development, creating a vibrant and sustainable city for future generations.
