News

Riyadh Developers Reveal New 45,000-Seat Murabba Stadium

The ambitious project, projected to be completed by 2032, will transform the Saudi capital’s downtown.

Published

6 months ago

July 17, 2024

Nour Nasir

riyadh developers reveal new 45,000 seat murabba stadium

Saudi Press Agency

The New Murabba Development Company — part of Saudi Arabia’s Public Investment Fund (PIF) — has revealed its ambitious plans for a new state-of-the-art stadium for Saudi Arabia’s capital, Riyadh.

With a capacity exceeding 45,000 spectators, the Murabba Stadium will transform the city’s landscape and become an international hub for sports, entertainment and culture.

riyadh murabba stadium 1

Michael Dyke, Al Murabba CEO, underscored the stadium’s significance, explaining, “This new stadium embodies Riyadh’s evolution into a vibrant global hub. It underscores our commitment to developing world-class infrastructure that showcases Saudi Arabia’s ongoing transformation”.

The massive architectural project, earmarked for completion by the end of 2032, will be far more than a simple sports and event venue. Its innovative structure, inspired by the multi-layered, scaly bark of the acacia tree, represents the coming together of Saudi tradition and modern innovation. This design philosophy is part of an overriding vision for a completely new square in Riyadh’s downtown area.

riyadh murabba stadium 2

The Murabba Stadium is designed to provide an unrivaled experience for sports fans and event goers, with multi-purpose configurations that allow concerts, gaming tournaments, exhibitions, and educational gatherings to be hosted.

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The building is expected to play a vital role in boosting Riyadh’s tourist and consumer economy, and designers hope that the development will also help to further the Kingdom’s ambitious development goals and Vision 2030 strategy.

With its breathtaking design and multifunctional event-hosting capabilities, the Murabba Stadium is set to become an iconic Riyadh landmark, epitomizing the capital city’s aspirations and Saudi Arabia’s dynamic future as it diversifies away from an oil-based economy.

News

Daleel Expands To UAE, Tapping Into $44B Finance Market

The Bahrain-based company offers a personalized financial marketplace with regional expansion supported by investors Flat6Labs and Salica.

Published

21 hours ago

January 20, 2025

Nour Nasir

daleel expands to uae tapping into $44 billion finance market

Daleel, a personalized financial marketplace originally founded in Bahrain, has officially entered the UAE market supported by notable investors, including Flat6Labs and Salica. Known for its ability to connect customers with tailored financial products, Daleel has gained significant traction in its home country, and the company is now eying the wider Middle East’s massive personal finance market, valued at an estimated $44.4 billion.

The platform’s UAE debut was hosted at Visa’s CEMEA Market Support Center in Dubai, marking another milestone for Daleel. The company gained regional attention when it clinched first place and $40,000 in funding at the 2023 Visa Everywhere Initiative finals in Saudi Arabia.

daleel expands to uae

Daleel’s expansion is supported by notable investors, including Flat6Labs and Salica. At the launch event, several key figures in the fintech and financial sectors were present, including Daleel’s co-founders, CEO PK Shrivastava and COO Ridaa Shah.

Reflecting on the launch, PK Shrivastava said, “Launching in the UAE is a landmark moment for the company, and we are pleased to do so alongside Visa, who have championed us from the start. There is a real demand across the region for personalized finance, and we believe this is the right time to expand our marketplace to connect more customers with the best financial solutions”.

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Daleel’s team combines expertise in open banking, finance, and technology, which has enabled the company to refine its platform for the regional market. Their data-driven system is designed to quickly match customers with financial products, ranging from credit cards and mortgages to savings accounts, offering personalized options in seconds. This transparency and efficiency benefit consumers while providing financial institutions with more cost-effective ways to acquire customers and create data-informed products.

Looking ahead, Daleel plans to secure an open finance license in 2025, which will allow even deeper integration with financial institutions. The company’s ultimate goal is to build a financial ecosystem where decisions that used to take weeks can now be made in minutes, empowering users to achieve better financial outcomes.