Makkah, Saudi Arabia: Rakaz Real Estate wins, as part of an investment alliance, the development project for the “East Hindawiyah” mixed-use area with a total value of 2 billion Saudi Riyals, located 1.8 kilometers from the Haram.

The project is being developed under the supervision of the Royal Commission for Makkah City and the Holy Sites, as part of the Kingdom of Saudi Arabia’s efforts to transform and develop neighborhoods into modern communities in line with the goals of Vision 2030.

The alliance brings together diverse expertise in real estate development, investment, and project management. In addition to Rakaz Real Estate, it includes Al-Jada Al-Oula Real Estate Development Company and Dar Al-Majed Real Estate Company “Al-Majdiya”, to work on developing the East Al-Hindawiya project, one of the most prominent urban development projects in Makkah Al-Mukarramah.

Khaled Al-Qahtani, Chairman of the Board of Directors of Rakaz Real Estate, said: “Makkah continues to attract transformative projects and strategic partnerships that enhance its position as a global and investment destination.”

He added: “We look forward to this vision being realized on the ground, in a manner befitting the status of the holy city.”

The East Hindawiya project spans an area of approximately 235,000 square meters and includes a mix of residential, commercial, office and hospitality uses, in addition to public spaces designed to enhance the vitality and cohesion of the community.

Rakaz Real Estate explained: “The project will be developed through a real estate investment fund managed by Jadwa Investment Company, which will support efficient implementation and enhance opportunities to achieve sustainable value for investors and all stakeholders.”

Given its proximity to the Grand Mosque, the project is expected to contribute to supporting economic growth, attracting investments, improving infrastructure, and creating new opportunities for businesses and residents.

About Rekaz:

Rakaz is a Saudi real estate development company focused on creating high-quality residential, commercial, hospitality, and mixed-use projects that contribute to building thriving communities and achieving sustainable growth. Since 1997, the company has implemented diverse projects across the Kingdom, aiming to deliver long-term value to clients, investors, and communities, in line with the objectives of Saudi Vision 2030.

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