KUALA LUMPUR, Dec 1 (Bernama) -- RUA AlHaram AlMakki Co., a master developer owned by a public investment fund and a foundation partner for Cityscape Global 2025, has signed six Memoranda of Understanding (MoUs) with partners from Saudi Arabia, Indonesia, Malaysia, Brunei and the United States.
In a statement today, the company said it signed the MoUs during its debut appearance at Cityscape Global in Riyadh, held from Oct 17-20. These agreements are poised to accelerate international investment into the landmark King Salman Gate project in Makkah.
It said these partnerships reflect its commitment to uniting the global Muslim community in the future development of Makkah by welcoming investment and collaboration from diverse markets.
Among the partners is Malaysian Resources Corporation Berhad (MRCB), which signed a joint venture MoU to explore collaborative opportunities within the development.
“Osool, a Saudi real estate investment and asset management firm, also signed an MoU to explore investment opportunities in the project,” the statement read.
Indonesia’s Badan Pengelola Keuangan Haji (BPKH) signed two MoUs. The first is to assess strategic investment opportunities in the Makkah project, while the second will evaluate partnerships for the urban dining components within the company’s future developments.
Perbadanan Tabung Amanah Islam Brunei (TAIB) entered into a general investment MoU to explore potential investment in a dedicated plot owned by the company in Makkah.
In a significant move for its international profile, RUA AlHaram AlMakki Co. signed a strategic collaboration MoU with Forbes Global Properties, making it the first developer to join the Forbes network, significantly enhancing its visibility and access to ultra-high-net-worth audiences.
The company emphasised that these agreements represent a key milestone for the King Salman Gate development, which is a mixed-use project located adjacent to AlMasjid AlHaram, aiming to set new benchmarks in urban living, hospitality and cultural preservation, aligning with Saudi Arabia’s Vision 2030.
As the King Salman Gate project advances into its next phase, the company has expressed its commitment to fostering further international collaboration.
-- BERNAMA
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