A deal has been signed to study the development of a major transport-oriented mixed-use destination within King Salman Gate in Makkah costing SR21 billion ($5.6 billion).

The signing took place at the Malaysian capital, Kuala Lumpur between RUA AlHaram AlMakki, a Public Investment Fund (PIF) company and master developer of the King Salman Gate project and real estate and infrastructure developer Malaysian Resources Corporation Berhad (MRCB) for the project, a Saudi Press Agency (SPA) report said. 

The project remains subject to the completion of due diligence, required approvals and financing, as well as the determination of implementation phases and the signing of final agreements.

Attracting international investments 

The cooperation agreement opens the way for attracting international investments to participate in the development of the King Salman Gate project, supporting Saudi Arabia's efforts to enhance Makkah's capacity to serve pilgrims and visitors from around the world.

The cooperation agreement focuses on drawing on MRCB's experience in developing projects linked to integrated transport systems, most notably KL Sentral, Malaysia's largest integrated transport hub, which combines transport networks with a range of urban uses.

The proposed project includes a study to develop a public bus station, along with residential, commercial, retail and other mixed-use developments within King Salman Gate. Beyond infrastructure development, the partnership aims to study ways to use the transport network and supporting services to facilitate pilgrims' and visitors' movement, enhance accessibility, and improve their experience in Makkah.

The cooperation agreement will also explore an integrated framework for developing, financing and implementing the proposed project, drawing on RUA AlHaram AlMakki's vision for King Salman Gate and MRCB's expertise in major mixed-use developments linked to transport systems, achieving integration between investment, development, mobility solutions and visitor services.

Enhancing pilgrim and visitor experience

As a PIF company and master developer of King Salman Gate, RUA AlHaram AlMakki is working to attract leading international partners to continue strengthening Saudi Arabia's efforts to enhance the pilgrim and visitor experience in Makkah in line with the highest global standards.

In line with the goals of Saudi Vision 2030, King Salman Gate embodies Saudi Arabia's efforts to enrich the experience of pilgrims and visitors from around the world while preserving Makkah's unique heritage.—TradeArabia News Service