First Avenue consortium secures $533m Makkah development project

02/06/2026 04:41 AST

A consortium comprising First Avenue for Real Estate Development Company, Dar Al Majed Real Estate Company - Al Majdiah and Rekaz Real Estate Company has secured a key contract from Royal Commission for Makkah City and Holy Sites (RCMC) for the development of the East Hindawiyah District Project in Makkah.

The development will cover about 235,000 sq m and will be financed through a real estate investment fund managed by Jadwa Investment.

Located around 1.8 km from the Grand Mosque, the project is planned as a mixed-use development incorporating residential, commercial, office, retail and hospitality facilities, along with public spaces and infrastructure upgrades.

The project is being implemented as part of the Makkah Informal Settlements Development Program, a strategic initiative aimed at enhancing urban environments, improving quality of life, and supporting sustainable development objectives under Saudi Vision 2030, said a statement from RCMC.

The East Hindawiyah District development carries an estimated project value of SAR2 billion ($533 million), including land acquisition and infrastructure development costs.

The project aims to transform the district into an integrated mixed-use urban destination featuring residential, commercial, office, retail, and hospitality components.

The masterplan will also incorporate public spaces, pedestrian-friendly environments, and modern infrastructure designed to enhance the overall quality of life for residents and visitors, said the statement.

The development forms a key component of Makkah's urban regeneration strategy and is expected to strengthen investment attractiveness, diversify economic activities, and improve infrastructure efficiency within the holy city.

Upon completion, the project will contribute to creating a vibrant and sustainable urban community while supporting Makkah's growing role as a regional investment destination, it added.

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