On June 1, 2026, First Avenue announced that a consortium including the company was awarded the concession for the East Hindawiyah Informal Settlement Redevelopment Project in Makkah by the Royal Commission for Makkah City and Holy Sites on May 31, 2026. The project covers approximately 235,000 square meters with an estimated total cost of SAR 2 billion, including land acquisition and infrastructure development costs. The consortium comprises First Avenue (45%), Dar Al Majed Real Estate Company (35%), and Rekaz Real Estate Company (20%), and is expected to earn development fees of approximately 10% of development costs plus performance incentives and 2.5% brokerage fees. The contract is expected to be signed on June 10, 2026, with the project aimed at creating an integrated urban destination featuring mixed-use components located 1.8 kilometers from the Holy Grand Mosque.

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