Sulaiman Al Rajhi Real Estate Company announced the launch and inspection of a series of real estate projects belonging to the Sulaiman Al Rajhi Endowment Scheme in Mecca, with a total investment of over 8 billion riyals. These projects include commercial, residential and hospitality developments and strategic land parcels as part of the company’s commitment to supporting the Kingdom’s real estate sector and improving the quality of life in the most sacred places on earth.
The announcement was made during a field tour attended by the Faculty of Engineering. Saleh Al Rashid, CEO of the Royal Commission for the City of Makkah and the Holy Land. Mr. Ihsan Bafaki, Chairman of the Board of Sulaiman bin Abdulaziz Al Rajhi Holding Company; Mr. Haitham Al Faiz, Chairman of Sulaiman Al Rajhi Real Estate Company and CEO of Sulaiman Al Rajhi Holding Company; Engineering Moas Al Muqdub, Managing Director and CEO of Sulaiman Al Rajhi Real Estate Company. And Eng. Mr. Anas Mansour Abadi, CEO of the Real Estate Division of Sulaiman Al Rajhi Holding Company and President of the Sulaiman Al Rajhi Fund, as well as members of the board of directors and management of the holding company and the real estate company.
The tour also included the launch of the SR2 billion “Tilal Towers” project with more than 2,500 hotel rooms to strengthen the presence in the hospitality sector within the Holy Capital.
The delegation also visited the “Tilal Village” project worth SR 2.8 billion, which is one of the prominent qualitative projects within Makkah’s hospitality ecosystem.
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The visit also included a residential building in Tilal Village, consisting of 828 units with an investment of 800 million riyals, where the delegation toured a specialized hospital, a medical complex, offices and a commercial plaza.
During the tour, a contract was signed for the Al Rajhi Center project worth R250 million as part of a comprehensive recovery plan.
The inspection also included 4 million square meters of “Al-Uqaysiyya” land and the “Al-Ghazawi” project site worth 250 million riyals.
The tour ended with prayers at the Aisha Al Rajhi Mosque, which is the second largest mosque in Mecca after the Holy Mosque and can accommodate 50,000 worshipers.
The visit underscores the importance of these investments, which demonstrate a clear direction to strengthen the Fund’s asset management through diversification, redevelopment and strategic expansion, in line with the development goals of Mecca City and Saudi Vision 2030.
Sulaiman Al Rajhi Real Estate, a subsidiary of Sulaiman Bin Abdulaziz Al Rajhi Holding Company, continues to provide innovative solutions to raise the real estate sector to international standards.
