Kuala Lumpur:RUA AlHaram AlMakki Company, a Public Investment Fund company and master developer of King Salman Gate, has entered into three strategic collaboration agreements with institutions in Malaysia and Brunei Darussalam. These agreements aim to explore investment and development opportunities in Makkah, Madinah, and Brunei.

According to BERNAMA News Agency, in Kuala Lumpur, RUA AlHaram AlMakki signed an agreement with MRCB International Sdn Bhd to investigate a major transport-oriented mixed-use development within King Salman Gate in Makkah. The project has an indicative gross development value of approximately 21 billion Saudi riyal, contingent upon due diligence, necessary approvals, financing, phasing, and final agreements. The development would include a public bus terminal and various other components, leveraging MRCB's experience in transit-oriented development, exemplified by their work on Malaysia's KL Sentral.

In Brunei Darussalam, RUA AlHaram AlMakki signed a collaboration agreement with Perbadanan Tabung Amanah Islam Brunei to explore a joint venture investment within King Salman Gate. This development is projected to cover land for hospitality and residential use, with a gross development value of about 9.7 billion Saudi riyal, pending similar conditions of due diligence and approvals.

Additionally, RUA AlHaram AlMakki, Ru'a Al Madinah Holding, and TAIB will explore broader investment and development opportunities in Makkah, Madinah, and Brunei Darussalam. These agreements are expected to facilitate reciprocal investment and expertise exchange.

The agreements are anticipated to forge new pathways for international involvement in the development of Makkah and Madinah, enhancing infrastructure and the experience of pilgrims and visitors. This initiative aligns with Saudi Vision 2030 and RUA AlHaram AlMakki's strategy of collaboration with international partners to develop integrated destinations around AlMasjid AlHaram and unlock investment opportunities.