Saudi's Alramz Secure A Deal To Develop Two Residential Towers in Makkah

Project Breakdown at a Glance:

Feature	Details
Location	King Abdulaziz Road District, Makkah
Land Size	6,007 square meters
Scope	Design, development, execution, and supervision of 2 residential towers
Contract Duration	36 Months (Expected completion by Feb 2029)

Alramz Real Estate Co secure a deal with Ramz Al-Hijaz to develop two plots. It is located in King Abdul Aziz Road in Makkah. It will construct two residential towers. Alramz will act as developer and Ramz Al-Hijaz will act as land owner.

Image Courtesy: Pexels

Financial Breakdown:

The agreement value is SAR 418 Million. A 15% development will be charged SAR 62.7 Million. So the total cost of project will be SAR 480.7 Million.

Strategic & Operational Impact:

Developing towers in the King Abdulaziz Road District is a prestige move. This area is central hub to the Kingdom’s religious tourism and hospitality growth, which is a key pillar of Vision 2030.

Partnering with Al Rajhi Capital validates Alramz’s operational capability. Being trusted by the Kingdom's largest financial entities to execute a SAR 480.7 Million project serves as a "quality stamp" for future bids.

With a 36-month timeline, this project ensures that Alramz’s workforce and technical resources are fully utilized through 2029.