News
Saudi Arabia To Transform Downtown Riyadh By 2030
By 2030, the massive development project will add $48 billion to the country’s GDP and generate more than 334,000 jobs.
Saudi Arabia has announced ambitious plans to transform downtown Riyadh into a major global mega-city. To make the project a reality, Saudi Crown Prince Mohammed bin Salman launched the New Murabba Development Corporation (NMDC) to aid planning and construction.
The 19 square kilometer site to the northwest of Riyadh will be designed from the outset as a smart and sustainable downtown area, able to hold 20 buildings the size of New York’s trademark Empire State building.
According to the state news agency SPA, the NMDC’s civil engineering project will have over 80 cultural and entertainment venues, a technology and design university, a museum, and an immersive multi-use theater when completed in time for Expo 2030, which Saudi Arabia could potentially host.
Also Read: Hub71 To Invest $2 Billion In New Web3 Startup Ecosystem
The New Murabba project will be centered around sustainability and feature green areas, plus walking and cycling paths to enhance the quality of life and promote healthy, active lifestyles. As well as significantly boosting the well-being of Riyadh citizens, it’s hoped that by 2030, the project will have added $48 billion to the country’s GDP and generated 334,000 jobs.
News
Rabbit Expands Hyperlocal Delivery Service In Saudi Arabia
The e-commerce startup is aiming to tap into the Kingdom’s underdeveloped e-grocery sector with a tech-first, locally rooted strategy.
Rabbit, an Egyptian-born hyperlocal e-commerce startup, is expanding into the Saudi Arabian market, setting its sights on delivering 20 million items across major cities by 2026.
The company, founded in 2021, is already operational in the Kingdom, with its regional headquarters now open in Riyadh and an established network of strategically located fulfillment centers — commonly known as “dark stores” — across the capital.
The timing is strategic: Saudi Arabia’s online grocery transactions currently sit at 1.3%, notably behind the UAE (5.3%) and the United States (4.8%). With the Kingdom’s food and grocery market estimated at $60 billion, even a modest increase in online adoption could create a multi-billion-dollar opportunity.
Rabbit also sees a clear alignment between its business goals and Saudi Arabia’s Vision 2030, which aims to boost retail sector innovation, support small and medium-sized enterprises, attract foreign investment, and develop a robust digital economy.
The company’s e-commerce model is based on speed and efficiency. Delivery of anything from groceries and snacks to cosmetics and household staples is promised in 20 minutes or less, facilitated by a tightly optimized logistics system — a crucial component in a sector where profit margins and delivery expectations are razor-thin.
Despite the challenges, Rabbit has already found its stride in Egypt. In just over three years, the app has been used by 1.4 million customers to deliver more than 40 million items. Revenue has surged, growing more than eightfold in the past two years alone.
Also Read: Top E-Commerce Websites In The Middle East In 2025
CEO and Co-Founder Ahmad Yousry commented: “We are delighted to announce Rabbit’s expansion into the Kingdom. We pride ourselves on being a hyperlocal company, bringing our bleeding-edge tech and experience to transform the grocery shopping experience for Saudi households, and delivering the best products – especially local favorites, in just 20 minutes”.
The company’s growth strategy avoids the pitfalls of over-reliance on aggressive discounting. Instead, Rabbit leans on operational efficiency, customer retention, and smart scaling. The approach is paying off, having already attracted major investment from the likes of Lorax Capital Partners, Global Ventures, Raed Ventures, and Beltone Venture Capital, alongside earlier investors such as Global Founders Capital, Goodwater Capital, and Hub71.
Hyper-Personalization: How Far Is Too Far?
Rabbit Expands Hyperlocal Delivery Service In Saudi Arabia
Alienware Just Announced Six New Gaming Monitors
Infinite Reality Acquires Napster In $207 Million Deal
