Saudi Railway teamed up with Riyad Capital to create a SAR6 billion real estate fund in Makkah. This project highlights the impact of Saudi Railway real estate projects on urban growth and economic development. The development will occupy 90,000 square meters in Al-Rusifah, next to the Haramain High-Speed Railway Station. This prime location ensures efficient access for residents and pilgrims.
Following the Transit-Oriented Development (TOD) model, the plan combines hotels, residences, and commercial spaces. It will serve locals, visitors, and investors, boosting Makkah’s growth zones.
Dr. Abdullah Alshwer, CEO of Riyad Capital, said the project reflects a shared vision for sustainable urban development. He emphasized its strong investment potential. Saudi Railway ensures the development connects seamlessly with the expanding railway network. This integration improves mobility and strengthens Makkah’s position as a modern urban hub.
Riyad Capital manages over $25.8 billion in assets and more than $205 billion under custody. The firm launched Riyad REIT, Saudi Arabia’s first listed real estate investment trust, in 2016. Its global portfolio now exceeds $6 billion.
For years, Riyad Capital has driven large-scale investments in Saudi Arabia’s urban development. Forbes recognized it as one of the top five asset managers in the Middle East.
The project emphasizes sustainable design, urban innovation, and community-focused planning. Developers are combining residential, commercial, and hospitality spaces to meet modern city demands.
Analysts expect the project to attract national and international investments. It will also demonstrate how transport and real estate integration enhances Makkah’s urban infrastructure.
Overall, this collaboration shows how Saudi Railway real estate projects can promote economic growth, modernize urban spaces, and improve city accessibility. This project confirms that Saudi Railway real estate projects will play a central role in Makkah’s sustainable development.
