MRCB unit, Saudi developers to explore RM22.86bil GDV Mecca project

KUALA LUMPUR: Malaysian Resources Corp Bhd's (MRCB) subsidiary, MRCB International Sdn Bhd, has joined forces with Saudi Arabia's RUA AlHaram AlMakki Company to develop a mixed-use project in Mecca, with an estimated gross development value (GDV) of approximately 21 billion Saudi riyal (RM22.86 billion). MRCB announced the partnership today in a filing with Bursa Malaysia.

The proposed development, situated within King Salman Gate, is a transport-oriented project that will combine a public bus terminal with residential, hospitality, commercial, and retail elements. MRCB stated that the collaboration aims to explore the framework for the project's development, funding, and implementation. The partnership will leverage MRCB's expertise in complex mixed-use and transport-oriented developments, such as KL Sentral, Malaysia's largest integrated transport hub, and RUA AlHaram AlMakki's vision for King Salman Gate.

A primary focus of the collaboration will be on MRCB's experience in transit-oriented development and integrated transport hubs. The partnership will examine how transport infrastructure and supporting services can facilitate smoother journeys, enhance accessibility, and improve the overall experience for pilgrims and visitors to Mecca.