Thakher Development and Mulkia Investment have joined forces to launch a significant real estate fund in Mecca, valued at nearly SAR 1 billion. This ambitious fund aims to support the burgeoning real estate and hospitality sectors within the holy city, aligning with Saudi Arabia’s broader economic goals under Vision 2030. By investing in infrastructure and hospitality facilities, this fund will not only meet the needs of local residents and pilgrims but will also enhance Mecca’s capacity to accommodate millions of visitors each year.
The fund is expected to focus on developing modern, high-quality properties designed to enrich the experience of those visiting Mecca for religious and cultural purposes. With the annual influx of pilgrims, demand for housing, hotels, and other hospitality facilities is a priority, and this fund is set to address these requirements comprehensively. By improving the city’s infrastructure and lodging options, Thakher and Mulkia aim to bolster Mecca’s status as a world-class destination for millions of visitors.
This collaboration between Thakher Development and Mulkia Investment reflects a broader trend of strategic partnerships aimed at achieving high-impact development within Saudi Arabia. By pooling resources, the fund will stimulate economic growth in Mecca, providing job opportunities and setting new standards in hospitality. As the project unfolds, it is expected to have a lasting impact on Mecca’s local economy and infrastructure, aligning with Saudi Arabia’s efforts to diversify and strengthen its non-oil sectors.
