en.Wedoany.com Reported - The Royal Commission for Makkah City and Holy Sites has awarded contracts for six development plots, involving investments totaling $3.54 billion and covering a total area of over 2.7 million square meters.

These contracts are part of the "Developed Districts Program," one of a series of measures taken by the Commission to improve the urban environment of the Holy City, support economic growth, enhance quality of life, and promote sustainable development. The awarded plots are located in the neighborhoods of Jurhum South, Al-Khalidiyah, Al-Hajlah, Al-Hindawiyah East, Al-Hindawiyah South, and Al-Hindawiyah West.

According to relevant reports, these projects will be implemented through collaboration among real estate development and investment companies and investment funds, reflecting the integration of regulatory and development efforts aimed at delivering urban projects with sustainable economic and developmental impacts.

The Commission explained that these projects aim to redevelop priority areas by improving land use efficiency, upgrading infrastructure and public services, addressing urban challenges, and enhancing Makkah's investment and development appeal.

According to a report by Zawya Projects, a consortium led by Umm Al Qura for Development and Construction has received two letters of acceptance from the Royal Commission for Makkah City and Holy Sites for the development of two plots near the Masar Destination in Makkah, namely Al-Hindawiyah West and Al-Hindawiyah South.

In a statement to the Saudi Stock Exchange, the developer said the project is expected to cost approximately $1.6 billion, with a total area of 1.15 million square meters. The project will be implemented through the establishment of a real estate investment fund managed by a financial institution licensed by the Capital Market Authority. The consortium members include Umm Al Qura, Makkah Construction and Development Company, and Al Rajhi United Real Estate Company.

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