PETALING JAYA: Malaysian Resources Corporation Bhd (MRCB) has signed a Memorandum of Understanding (MoU) with RUA AlHaram AlMakki Co, a Saudi master developer for mixed-use developments in Mecca, to explore collaborative opportunities.
Specifically, the MoU opens up opportunities for both parties to collaborate on the King Salman Gate project launched in Mecca in October. The project is located next to AlMasjid AlHaram, or the Great Mosque of Mecca, the world’s largest mosque and is one of the sites for Muslims to perform Hajj and Umrah.
According to the King Salman Gate project website, the massive integrated mixed-use development will be offering residential, hospitality, commercial and cultural developments. Spanning 2,965 acres, the project will also restore and develop approximately 4.7 acres of heritage sites.
MRCB is among the five partners who signed MoUs with RUA AlHaram AlMakki Co at the Cityscape Global 2025 exhibition and convention held in Riyadh. The other partners are Osool, a real estate investment and asset management firm in Saudi Arabia, Badan Pengelola Keuangan Haji (BPKH), Indonesia’s Hajj financial management agency, Perbadanan Tabung Amanah Islam Brunei (TAIB), Brunei’s Islamic trust fund and Forbes Global Properties, Forbes’s exclusive real estate partner.
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