Sabah Barakat takes over New Murabba as Mukaab plans advance

PIF veteran Sabah Barakat (LinkedIn) has been appointed acting CEO of New Murabba, replacing Michael Dyke (LinkedIn), who had been steering the USD 50 bn gigaproject since December 2023, according to its website.

Right as the project changes gear: Barakat, who was also acting CEO of Roshn and sits on several PIF portfolio company boards, takes over as New Murabba ramps up efforts to bring in private capital, including a July RFP for two land-sale opportunities and a joint-venture development in one of its mixed-use communities. The move comes as the developer revives procurement plans for The Mukaab, its 400-by-400-meter centerpiece, with contractor proposals expected in 2027, as we previously reported.