Rikaz confirms its consortium – including Aljada First Development Company and AlMajdiah Real Estate Company – has secured a contract for the development of East Hindawiyah. The contract is a SAR 2bn ($533m) mixed-use development situated 1.8km from Al Masjid Al Haram in Makkah city.
The project will be developed under the supervision of the Royal Commission for Makkah City and Holy Sites, which aims to be part of the kingdom’s efforts to transform informal neighbourhoods into modern, integrated communities alongside the Saudi Vision 2030.
The consortium brings together Aljada First Development Company and AlMajdiah Real Estate Company to deliver one of Makkah’s biggest new urban developments situated near the main mosque.
Spanning a 235,000 sqm area, the East Hindawiyah project will include residential, commercial, office and hospitality spaces, with public areas curated to create a vibrant and connected community.
“Makkah continues to attract transformative projects and strategic partnerships that reinforce its position as a global destination for investment and development. We are looking forward to seeing this vision become a reality, one that befits the stature of the Holy City.”
Khalid Al Gahtani, Chairman & CEO, Rikaz
The project is set to be close to the Al Masjid Al Haram, and is predicted to support economic growth, attract investment, enhance infrastructure and provide new opportunities for businesses and residents. It will also be delivered through a real estate investment fund managed by Jadwa Investment.
