RUA AlHaram AlMakki, a subsidiary of the Public Investment Fund (PIF), has announced the signing of six new Memoranda of Understanding (MoUs) with leading organizations from Saudi Arabia, Indonesia, Malaysia, Brunei, and the United States, on the sidelines of Cityscape Global held in Riyadh from October 17 to 20, 2025, Invest-Gate reports.

The agreements support the company’s strategy to expand international cooperation and attract targeted investments into the flagship King Salman Gate development in Makkah. The company confirmed that the move aims to enable global partners, especially from the Islamic world, to participate in shaping the future of Makkah and contribute to the development of integrated destinations that serve the growing numbers of pilgrims, Umrah performers, and visitors.

RUA AlHaram AlMakki revealed that the new agreements include a strategic MoU with Osool, the Saudi asset and real estate management company, to explore new investment opportunities within King Salman Gate. Additionally, two MoUs were signed with Indonesia’s Hajj Financial Management Agency (BPKH) to evaluate potential partnerships and strategic prospects in food and beverage facilities across future development phases.

The company also inked a joint development MoU with Malaysia’s MRCB, a major infrastructure and real estate developer, to explore avenues of collaboration within the project masterplan. Another agreement was signed with Brunei’s TAIB Islamic Fund to assess investment opportunities on company-owned land in Makkah.

In a key milestone, RUA AlHaram AlMakki signed a strategic cooperation agreement with Forbes Global Properties, becoming the first real estate developer globally to join the Forbes network. The partnership aims to enhance the company’s international visibility and expand access to high-net-worth clients around the world.

The series of agreements marks significant progress in the development of the large-scale, mixed-use King Salman Gate project, located adjacent to the Grand Mosque. The development is set to establish new benchmarks in urban planning, hospitality standards, and heritage preservation in alignment with Saudi Vision 2030, reinforcing Makkah’s position as a leading global destination.

RUA AlHaram AlMakki affirmed its continued openness to new partnerships and investments worldwide to support the upcoming phases of the project and ensure sustainable and impactful development in the heart of Makkah.