MALAYSIA; SAUDI ARABIA —Rua AlHaram AlMakki Company, a subsidiary of Saudi Arabia's Public Investment Fund (PIF), has entered into a strategic agreement with Malaysia-based MRCB International Sdn Bhd to collaborate on a transport-oriented mixed-use megaproject within the King Salman Gate development in Makkah. The proposed project carries an estimated gross development value of SAR 21 billion and aims to integrate public transportation hubs with commercial, residential, retail, and hospitality facilities.
The partnership combines the regional master-planning authority of Rua AlHaram AlMakki with MRCB's expertise in transit-oriented developments, notably modeled after its flagship KL Sentral project in Malaysia. The planned infrastructure will feature a centralized public bus terminal designed to streamline mobility, optimize urban connectivity, and enhance the overall travel experience for millions of international pilgrims and visitors attending annual Hajj and Umrah pilgrimages.
As the master developer of projects surrounding AlMasjid AlHaram, Rua AlHaram AlMakki operates under PIF to modernize infrastructure and expand capacity around Makkah's holy sites while preserving local cultural heritage. Malaysian Resources Corporation Berhad (MRCB) is an established property and construction firm listed on Bursa Malaysia, specializing in urban transit infrastructure and large-scale commercial real estate investments.
This cross-border collaboration establishes a structured investment platform allowing international Islamic financial institutions and real estate entities to participate in Saudi Arabia's urban infrastructure expansion. The alignment supports broader economic goals outlined in Saudi Vision 2030, which prioritizes hospitality, transport modernization, and real estate development to increase the Kingdom's tourism capacity and diversify its non-oil economy.
