Consortium Wins $533 Million Makkah Mixed-Use Development Contract

Dubai (PlantAndEquipment.com) - A significant contract to build the East Hindawiyah District project in Makkah has been awarded to a group that includes First Avenue for Real Estate Development Company, Dar Al Majed Real Estate Company (Al Majdiah), and Rekaz Real Estate Company.

The Royal Commission for Makkah City and Holy Sites granted the project, which will be funded by a real estate investment trust run by Jadwa Investment.

The SAR2 billion ($533 million) project will cover around 235,000 square meters and is situated about 1.8 kilometers from the Grand Mosque.

In addition to public areas, pedestrian-friendly zones, and improved infrastructure, the mixed-use project will include residential, commercial, office, retail, and hotel components.

The project supports broader urban renewal and sustainability objectives under Saudi Vision 2030 and is a component of the Makkah Informal Settlements Development Programme.

First Avenue has a 45% share, Dar Al Majed a 35% stake, and Rekaz a 20% stake in the partnership.

When the project is finished, Makkah's urban infrastructure should be strengthened, investment appeal will be increased, and the city's expanding position as a regional economic and tourist destination will be supported.