Albilad Capital has launched the “Makkah Vision Real Estate Fund" with a value exceeding 11 billion riyals, in partnership with the Royal Commission for Makkah City and the Holy Sites and Thakher Development Company. The fund aims to develop the Al-Kudwa site, spanning an area of approximately 686,000 square meters. The fund is considered one of the largest private real estate investment funds in the Kingdom and falls under the framework of the Developed Neighborhoods Program overseen by the Royal Commission. It seeks to transform informal areas into integrated urban complexes characterized by modern infrastructure and comprehensive facilities, thereby enhancing the quality of life and aligning with the targets of Saudi Vision 2030. The project also aims to improve the efficiency of land investment adjacent to the Masjid al-Haram, offering comprehensive solutions that address the social, economic, educational, and health conditions of residents. Additionally, it strives to stimulate investment activity to achieve economic development by integrating these sites into real estate development plans, involving the private sector in development processes, and establishing effective mechanisms to prevent the emergence of unregulated areas and curb unplanned expansion in existing regions.
The project aims to create an urban environment with a humanitarian and service-oriented character through developable areas exceeding 5.5 million square meters. These areas will include diverse residential zones, commercial and hospitality facilities serving more than 150,000 visitors to the Masjid al-Haram, including pilgrims, umrah performers, and visitors, in addition to public green spaces exceeding 97,000 square meters and a road network directly connected to the main routes leading to the al-Haram, facilitating movement, and providing integrated services for visitors.
Mr. Zaid AlMufarih, CEO of Albilad Capital, emphasized that the collaboration with the Royal Commission reflects a shared vision to create economic and social value by developing an advanced urban environment in one of the most significant locations globally.
The launch of the fund highlights the role of the private sector in implementing strategic projects led by the Royal Commission through flexible financing mechanisms that enable attracting investors and deploying capital into high-impact and high-return projects. These efforts align with community aspirations and contribute to enhancing Makkah's status as a leading global center for providing religious and hospitality services.