Islamabad, Saudi Arabia — RUA AlHaram AlMakki Company, a Public Investment Fund–owned developer and foundation partner of Cityscape Global 2025, has signed six Memorandums of Understanding (MoUs) with partners from Saudi Arabia, Indonesia, Malaysia, Brunei and the United States. The agreements were finalized during the four-day Cityscape Global event in Riyadh, held from November 17 to 20.
Agreements Linked to King Salman Gate Project
The MoUs are tied to the company’s King Salman Gate development in Makkah, a mixed-use project located adjacent to AlMasjid AlHaram. The initiative is part of Saudi Arabia’s Vision 2030 program and aims to attract international investment while strengthening Makkah’s role as a global destination.
International Partners Sign On
Osool, a Saudi real estate investment and asset management firm, signed an MoU to explore investment opportunities within King Salman Gate. Indonesia’s Hajj financial management agency, BPKH, signed two agreements covering strategic investment and dining partnerships. Malaysian Resources Corporation Berhad (MRCB) entered a joint venture to examine collaborative opportunities, while Brunei’s Islamic trust fund TAIB agreed to evaluate investment in one of the company’s plots in Makkah.
Forbes Global Properties also signed an MoU with RUA AlHaram AlMakki Company, making it the first real estate developer worldwide to join the Forbes network. The collaboration is expected to enhance international visibility and connect the project with ultra-high-net-worth audiences.
Milestone for Makkah Development
RUA AlHaram AlMakk company said the agreements mark a milestone in advancing King Salman Gate, which is designed to combine urban living, hospitality and cultural preservation. The project is positioned as a key element of Saudi Arabia’s broader development strategy under Vision 2030.
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