RUA, MRCB Explore $5.5bn Mixed-Use Development at King Salman Gate in Makkah

Saudi company explores cooperation with MRCB on Mecca project

The company is a subsidiary of Saudi Arabia’s Public Investment Fund, one of the world’s largest sovereign wealth funds with assets under management exceeding US$900 billion.

RUA, MRCB explore $5.5bn mixed-use development at King Salman Gate in Makkah

Saudi property developer RUA AlHaram AlMakki and Malaysia’s MRCB International on Monday signed an agreement to explore a transport-oriented mixed-use development at King Salman Gate in Makkah with an indicative gross development value of about SR21 billion ($5.5 billion). The collaboration will examine the development of a public bus terminal alongside residential, commercial, retail and other mixed-use components, RUA said. The proposed projec…

$5.5bn King Salman Gate Development Advances as Makkah mixed-use Construction Plan Takes Shape

King Salman Gate development could gain a $5.5 billion mixed-use construction project under a new Saudi-Malaysian agreement. RUA AlHaram AlMakki and MRCB International signed the agreement in Kuala Lumpur. The partnership will study a transport-oriented development within the wider King Salman Gate project. The proposed scheme carries an indicative gross development value of SR21 billion […]

PIF-backed developer plans $6bn project in Mecca

Saudi Arabia’s Public Investment Fund-backed Rua AlHaram AlMakki is exploring a major property development within the King Salman Gate project in Mecca. The development, estimated at SAR21 billion ($5.6 billion), is being explored with Bursa Malaysia-listed Malaysian Resources Corporation Berhad (MRCB), the state-run Saudi Press Agency reported. The planned project includes a study to develop […]

MRCB unit, Saudi PIF firm to study SAR21 bil Makkah project

PETALING JAYA (Sept 29): Malaysian Resources Corp Bhd’s (MRCB) wholly owned subsidiary MRCB International has signed a cooperation agreement with Sau...