RUA AlHaram AlMakki Forges Malaysia, Brunei Partnerships

KUALA LUMPUR, Oct 1 (Bernama) -- RUA AlHaram AlMakki Company (RUA AlHaram AlMakki), a Public Investment Fund (PIF) company and master developer of King Salman Gate, has signed three strategic collaboration agreements with institutions in Malaysia and Brunei Darussalam to explore investment and development opportunities in Makkah, Madinah and Brunei.

In Kuala Lumpur, RUA AlHaram AlMakki signed an agreement with MRCB International Sdn Bhd (MRCB) to explore a major transport-orientated mixed-use development within King Salman Gate in Makkah, with an indicative gross development value (GDV) of approximately 21 billion Saudi riyal, subject to due diligence, approvals, financing, phasing and definitive agreements. (100 Saudi riyal = RM108.92)

The proposed development would explore a public bus terminal alongside residential, commercial, retail and other mixed-use components, drawing on MRCB’s experience in transit-orientated development and integrated transport hubs. MRCB’s portfolio includes KL Sentral, Malaysia’s largest integrated transport hub.

The agreement was signed in Kuala Lumpur by Bambang Kajairi, RUA chief executive officer, AlHaram AlMakki, and MRCB Group Managing Director, Datuk Imran Salim. It was witnessed by senior representatives from PIF and MRCB.

In Brunei Darussalam, RUA AlHaram AlMakki signed a collaboration agreement with Perbadanan Tabung Amanah Islam Brunei (TAIB) to explore a joint venture investment within King Salman Gate.

The proposed development would cover land plots for hospitality and residential uses, with an indicative GDV of approximately 9.7 billion Saudi riyal, subject to due diligence, approvals, financing arrangements and definitive agreements.

Under a separate agreement, RUA AlHaram AlMakki, Ru’a Al Madinah Holding and TAIB will explore investment and development opportunities across Makkah, Madinah and Brunei Darussalam, creating potential avenues for reciprocal investment and the exchange of expertise.

The two Brunei agreements were signed by representatives of RUA AlHaram AlMakki, Ru’a Al Madinah and TAIB, and witnessed by senior representatives from PIF, Ru’a Al Madinah and the Brunei government.

Together, the three agreements are expected to create new pathways for international institutions to participate in the development of Makkah and Madinah, while supporting investment, infrastructure development and the experience of pilgrims and visitors, according to a statement.

The collaborations align with Saudi Vision 2030 and reflect RUA AlHaram AlMakki’s strategy of working with international partners to develop integrated destinations around AlMasjid AlHaram and unlock investment opportunities in Makkah.

-- BERNAMA