Al Ramz Real Estate Company, Saudi Arabia announces that it has signed a strategic development agreement with Ramz Al Hijaz Fund Company, managed by Al Rajhi Capital, to undertake a major real estate project in the King Abdulaziz Road District in Makkah.
The contract, formalized on 12 February 2026, involves and focuses on the development and construction of two residential towers on two land plots totaling 6,007 square meters in area.
The total value of the agreement is SAR 418 million, with an additional 15% development fee amounting to SAR 62.7 million.
Under the terms of the deal, Al Ramz Real Estate Company will lead the design, development, execution, and supervision of the project, ensuring delivery in line with agreed quality and timeline standards.
The construction of these residential towers is expected to span 36 months from the signing date, and the project is anticipated to make a positive contribution to Al Ramz’s financial performance across 2026 to 2029.
