Saudi Arabia has suspended construction of its ambitious Mukaab project, also called “The Cube,” as authorities reassess financing and long-term feasibility, sources told Reuters.
The decision is part of a broader reprioritization of Vision 2030 megaprojects amid fiscal pressures.
Located in Riyadh’s New Murabba downtown, the Mukaab was designed as a 400m x 400m metal cube, capable of housing the equivalent of 20 Empire State Buildings.
The structure would feature a massive AI-powered internal dome and offer two million square meters of interior floor space, making it the world’s largest single-built structure.
Sources confirmed that construction has been halted beyond initial groundwork, such as soil excavation and foundation pilings, though the surrounding New Murabba real estate development will continue.
The pause comes as the $925 billion Public Investment Fund (PIF) shifts focus from capital-intensive projects to financially viable initiatives, including the 2030 World Expo, 2034 FIFA World Cup, Diriyah development, and Qiddiya tourism project.
Officials cited declining oil revenues and an $8 billion write-down on prior giga projects at the end of 2024 as factors influencing the decision.
Saudi Economy Minister Faisal al-Ibrahim confirmed the government will transparently delay or rescope projects when necessary.
The wider New Murabba development, initially expected by 2030, now has a projected completion date of 2040 and a total cost of around $50 billion, roughly equivalent to Jordan’s GDP.
When announced, the Mukaab drew social media criticism for resembling the Kaaba, Islam’s holiest site, though officials promoted it as a symbol of Riyadh’s ambition to become a global destination.