Sulaiman Al Rajhi Real Estate Company has announced the launch and inspection of a series of real estate projects related to the Sheikh Sulaiman Al Rajhi Endowment Scheme in the holy city of Mecca. The project includes commercial and residential projects, hospitality projects and strategic land, with a total investment of over SR8 billion. This action was taken within the framework of the company’s efforts to support and develop the Saudi real estate sector and improve the quality of life in the holiest places on earth.
The announcement of these projects was made by Engineer Saleh Al Rashid, CEO of the Royal Commission for the Holy City of Mecca and the Holy Land, and Chairman of the Board of Directors of Sulaiman bin Abdulaziz Al Rajhi Holding Company. This took place during a field tour attended by Mr. Ihsan Bafaki, Chairman of the Board of Sulaiman Al Rajhi Real Estate Company and CEO of Sulaiman Al Rajhi Holding, Mr. Haitham Al Faiz. Moaz Al Makhdub, Managing Director and CEO of Sulaiman Al Rajhi Real Estate Company, and Engineer Anas Mansour Abadi, CEO of Sulaiman Company’s Real Estate Division. Representatives of Al Rajhi Holding, Sulaiman Al Rajhi Endowment, members of the Board of Directors and management of the Holding and Real Estate Company.
The tour included the launch of the SR2 billion “Tilal Towers” project, which includes more than 2,500 hotel rooms and includes over 2,500 hotel rooms, as part of the development of a major hospitality project within the Holy Capital. This project is one of the biggest elements of the just-announced investment package aimed at increasing our presence in the hospitality sector.
The tour also included a visit to the “Tilal Fleeej” project with an investment of SR 2.8 billion, which is one of the most important and prominent qualitative projects in the hotel hospitality system of Mecca Al Mukarrama.
The visit also included an inspection of residential buildings in Tilal village, which includes 828 houses with an investment value of 800 million riyals. The delegation toured the specialized hospital, medical housing complex, offices and commercial plaza within the Tilal Pheri project.
During the tour, a contract was signed for the “Al Rajhi Center” project worth SR250 million, as part of a comprehensive reconstruction plan for the center.
The tour also included a visit to the land of the “Al Aqiya” project in Mecca Al Mukarramah, which covers an area of 4 million square meters, and the land of the “Al Ghazawi” project, worth 250 million riyals in Mecca Al Mukarramah.
The tour concluded with a prayer performance at the Aisha Al Rajhi Mosque, considered the second largest mosque after the Holy Mosque in Mecca and can accommodate approximately 50,000 worshipers.
The visit reflects the confirmation of the importance of these investments and indicates a clear direction to strengthen the endowment’s asset management according to an investment approach based on diversification of real estate investments, redevelopment of existing assets and expansion of strategic land, in line with the development goals of the Mecca Al Mukarramah region and Saudi Vision 2030.
Sulaiman Al Rajhi Real Estate Company is one of the largest companies of its kind in the region and a subsidiary of Sulaiman bin Abdulaziz Al Rajhi Holding Company. The company relies on innovative programs that provide creative solutions that contribute to raising the real estate sector to international standards.
Sulaiman Al Rajhi Real Estate Company announced the launch and inspection of a series of real estate projects related to the Sulaiman Al Rajhi Endowment Scheme in the holy city of Mecca, with a total investment of over 8 billion riyals. These projects included strategic land as well as commercial, residential and hospitality projects. The move was taken as part of the company’s efforts to support and develop the Saudi real estate sector and improve the quality of life in the holiest places on earth.
The announcement of these projects was made during a field tour that included Mr. Saleh Al Rashid, CEO Engineer of the Royal Commission for the City of Mecca and the Holy Land, Mr. Ehsan Ba Fakih, Chairman of the Board of Sulaiman bin Abdulaziz Al Rajhi Holding Company, and Mr. Haitham Al Faiz, Chairman of the Board of Directors of Sulaiman Al Rajhi Real Estate Company and CEO of Sulaiman. Al Rajhi Holding Company, Mr. Muath Al Muftub, Executive Officer and CEO of Sulaiman Al Rajhi Real Estate Company, Mr. Anas Mansour Abadi, CEO of Real Estate Division of Sulaiman Al Rajhi Holding Company, Engineer and Representative of Sulaiman Al Rajhi Endowment, as well as members of the board of directors and management of the holding company and real estate company.
The tour included the launch of the SR2 billion Towers of Hills project, with more than 2,500 hotel rooms, as part of the development of a major hospitality project within the holy city. The project is considered one of the biggest elements of the just-announced investment package aimed at increasing its presence in the hospitality sector.
The tour also includes a visit to the Farigi Hill project, which has an investment of SR2.8 billion and is one of the most prominent high-quality projects in Makkah’s hotel hospitality system.
The visit also included an inspection of residential buildings within Farigi Hills, which consists of 828 houses with an investment value of 800 million riyals. The delegation toured the specialized hospital, medical residential complex, office and commercial areas within the Farigi Hill project.
During the tour, a contract was signed for the “Al Rajhi Center” project worth SR250 million, as part of a comprehensive reconstruction plan for the center.
The tour also included site visits to the Al-Aqisiya project site in Mecca (4 square meters in area) and the Al-Ghazawi project site in Mecca (valued at SR250 million).
The tour ended with prayers at the Aisha Al Rajhi Mosque, which is considered the second largest mosque after Mecca’s Grand Mosque and can accommodate around 50,000 worshipers.
The visit reflects confirmation of the importance of these investments and indicates a clear direction to strengthen the management of donated assets according to an investment approach based on diversification of real estate investments, redevelopment of existing assets and expansion into strategic lands, in line with the development goals of the Makkah region and Saudi Vision 2030.
Sulaiman Al Rajhi Real Estate Company, one of the largest companies of its kind in the region and one of the subsidiaries of Sulaiman Bin Abdulaziz Al Rajhi Holding Company, relies on innovative programs that provide creative solutions and contributes to raising the real estate sector to global standards.
