MRCB Signs MOU With Saudi PIF-Owned Developer for King Salman Gate Project in Makkah

Malaysian Resources Corporation Bhd (MRCB) has taken a significant step into the Middle East with the signing of a memorandum of understanding (MOU) with RUA AlHaram AlMakki Company, the master developer behind the ambitious King Salman Gate project in Makkah, Saudi Arabia. RUA is wholly owned by the Kingdom’s Public Investment Fund (PIF).

The MOU, signed during Cityscape Global 2025 in Riyadh, sets the stage for MRCB to explore a range of collaborative development structures within the project—one of the most prominent mixed-use undertakings in the holy city.

Exploring Joint Ventures, Land Acquisitions & Investment Partnerships

Under the agreement, MRCB and RUA will study multiple cooperation models, including:

• Joint-venture development of selected parcels

• Direct land acquisitions by MRCB

• MRCB taking equity stakes in RUA-sponsored investment platforms

• Other mutually agreed development structures for various land components

MRCB said its experience as a government-linked urban developer and nation-building entity positions it well to deliver “world-class development expertise” to a project of such significance.

A Visionary Development Beside Al Masjid Al Haram

King Salman Gate is considered one of the most transformative urban regeneration projects in Makkah. The development:

• Covers 12 million sq m (129.17 million sq ft) of gross floor area

• Sits adjacent to Al Masjid Al Haram

• Features a pedestrian-centric design to support a comfortable, modern pilgrim experience

• Will offer approximately 900,000 indoor and outdoor praying spaces

The project aims to enhance the spiritual journey of millions of umrah and haj pilgrims annually while modernising the surrounding urban landscape.

Strengthening Malaysia–Saudi Development Ties

MRCB group managing director Datuk Imran Salim described the collaboration as a profound honour, noting Makkah’s global importance to the Muslim community.

“Our experience in transit-oriented developments and integrated urban regeneration gives us the capability to support RUA AlHaram AlMakki’s vision for King Salman Gate,” he said. “We look forward to contributing our expertise while deepening Malaysia–Saudi development ties.”

Broader Implications for Malaysia’s Property & Industrial Landscape

While the MOU centres on a project abroad, it reflects Malaysia’s growing recognition as a developer of large-scale mixed-use and infrastructure-driven projects. This momentum aligns with strong market activity across key Klang Valley growth areas including:

• Commercial property in KL

• Office space in Bukit Jalil

• Industrial land in Selangor

• Factory corridors in Puchong

• Industrial property in the Subang area

MRCB’s expanding international profile may also enhance investor confidence in Malaysian developers with deep experience in complex, high-value urban environments.