Al Balad Al Ameen Development Co., the investment arm of Makkah’s municipality, has inked an agreement with Aknaf Al-Khaleej Company to establish an integrated residential neighborhood as part of the Makkah Gate project.
The agreement was signed by Muhammad Al-Quwaihes, mayor of Makkah, and chairman of Al-Balad Al-Amin Development, state-owned news agency, SPA, has reported.
The residential project will span 580,000 square meters and will be located 18 km from the Grand Mosque in Makkah and five km from the Qur’an Gate.
“It is the project of Makkah Gate Company, which is a non-profit firm owned by Al Balad Al Amin Co., the investment arm of Makkah Mayoralty,” said Al-Quwaihes.
The SAR 60 billion Makkah Gate housing scheme, which will be a natural extension of Makkah, is designed to accommodate about 800,000 people when it is completed within 15 years. The scheme is designed as part of a comprehensive strategy to develop the region with the participation of both public and private sectors.
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