Riyadh, Saudi Arabia, 18 November 2025 – RUA AlHaram AlMakki Company, the PIF Company, master developer and Foundation Partner of Cityscape Global 2025, has entered into a Memorandum of Understanding (MoU) with Osool Integrated Real Estate Company (or “Osool”), a leading Saudi investment and asset management company.
Osool is a fully integrated real estate investor and operator, active across the entire value chain. Its mission is to deliver impactful solutions that create long-term value through excellence, strategic partnerships, and inspiring spaces, and its vision is to become the nation’s most trusted real estate institution, shaping iconic communities and driving national impact in line with Saudi Vision 2030.
The company manages a SAR 43 billion portfolio of direct and indirect real estate assets, including income-generating funds, prime landholdings, equity stakes in leading private real estate companies, and flagship funds in collaboration with top-tier developers and investment managers.
Osool’s income-generating portfolio features landmark projects such as Digital City, Granada Mall & Business Park, Business Gate, and Olaya Towers. It also owns a distinguished collection of iconic hotels, including Crowne Plaza Digital City, Hilton Hotel & Residences Granada, Fairmont Business Park, and Assila Hotel.
The company’s focus spans three core areas:
- Investments – Acquiring income-generating assets and development projects, investing in asset-specific and thematic funds, and forming partnerships through JVAs/JDAs with sector specialists for opportunistic development plays.
- Strategic Asset Management – Driving operational excellence and active asset management to maximize portfolio value.
- Property & Facility Management Delivering superior tenant services, operations management, and facility services to ensure high-quality environments that foster long-term satisfaction for residents, tenants, and visitors.
Under the MoU, the two companies will explore strategic collaboration in the development of King Salman Gate, the iconic destination spanning around 12 million square meter gross floor area mixed-use destination adjacent to AlMasjid AlHaram in Makkah. Designed to blend Makkah’s heritage with modern urban living, King Salman Gate will be home to a thriving community of residents, businesses, and visitors.
Osool’s strategic focus on Makkah as the next frontier for the company portfolio growth, coupled with its proven expertise in investing in and managing complex, high-value real estate projects aligns with RUA AlHaram AlMakki Company’s bold vision for King Salman Gate, creating a partnership uniquely positioned to bring this world-class destination to life.
Proposed collaboration avenues include Joint ventures to develop select parcels of land within King Salman Gate, alongside strategic investments from Osool, primarily through equity participation or innovative products developed by RUA AlHaram AlMakki.”
The MoU was formalized at Cityscape Global in Riyadh, one of the world’s premier real estate events, bringing together investors, developers, and innovators to shape the future of urban living.
This year marked RUA AlHaram AlMakki Company’s debut at Cityscape Global, where King Salman Gate was showcased to stakeholders, investors, homebuyers, and media for the first time since its announcement in October. The unveiling drew acclaim for its scale, ambition, and vision for the future of Makkah.
