Sulaiman Al Rajhi Real Estate Company launches and inspects strategic projects for Sulaiman Al Rajhi Endowment worth over SR8 billion in Makkah ...Saudi Arabia

ٍٍٍSaudi Gazette - Economy
Sulaiman Al Rajhi Real Estate Company launches and inspects strategic projects for Sulaiman Al Rajhi Endowment worth over SR8 billion in Makkah
source : ٍٍٍSaudi Gazette ( Saudi Arabia ) () 57
Sulaiman Al Rajhi Real Estate Company has announced the launch and inspection of a group of real estate projects belonging to the Sulaiman Al Rajhi Endowment system in Makkah, with a total investment exceeding eight billion riyals. These projects include commercial, residential, and hospitality developments, as well as strategic land plots, as part of the company's commitment to supporting the Kingdom's real estate sector and enhancing the quality of life in the holiest place on Earth. The announcement was made during a field tour participated in by Eng. Saleh Al-Rasheed, CEO of the Royal Commission for Makkah City and Holy Sites; Ihsan Bafakih, Chairman of the Board of Directors of Sulaiman bin Abdulaziz Al Rajhi Holding Company; Haitham Al-Fayez, Chairman of Sulaiman Al Rajhi Real Estate Company and CEO of Sulaiman Al Rajhi Holding Company; Eng. Moath Al-Mukhudub, Managing Director and CEO of Sulaiman Al Rajhi Real Estate Company; and Eng. Anas Mansour Abadi, CEO of Real Estate at Sulaiman Al Rajhi Holding Company and representative of the Sulaiman Al Rajhi Endowment, alongside members of the Board of Directors of both the Holding and Real Estate companies and the executive team. The tour included the launch of the "Tilal Towers" project, with an investment value of two billion riyals, featuring 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, valued at SR2.8 billion, which is one of the prominent qualitative projects within the hospitality ecosystem in Makkah. Furthermore, the visit covered the residential buildings within Tilal Village, comprising 828 units with an investment of SR800 million, where the delegation inspected the specialized hospital, medical complex housing, and the office and commercial plazas.During the tour, a contract was signed for the "Al Rajhi Center" project, valued at SR250 million, as part of a comprehensive rehabilitation plan. The inspection also included the "Al-Ukayshiyyah" land, spanning four million square meters, and the "Al-Ghazzawi" project land, valued at SR250 million.The tour concluded with prayers at the Aisha Al Rajhi Mosque, the second-largest mosque in Makkah after the Holy Mosque, with a capacity for 50,000 worshippers.This visit underscores the importance of these investments, which represent a clear direction toward enhancing the management of the endowment’s assets through diversification, redevelopment, and strategic expansion, in line with the development goals of the Makkah 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 elevate the real estate sector to international standards.

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