PETALING JAYA: Malaysian Resources Corp Bhd (MRCB) has entered into a memorandum of understanding with RUA AlHaram AlMakki Co, a public investment fund-owned master developer of the King Salman Gate development in Mecca.
In a statement, MRCB said both parties will explore various collaboration structures, including joint ventures on selected parcels, direct land acquisitions by MRCB or equity participation in RUA-sponsored investment platforms, and other mutually agreed development models for some of the land parcels within the development.
As Malaysia’s largest transit-oriented development (TOD) developer, MRCB is uniquely positioned to support RUA’s vision.
MRCB group managing director Datuk Imran Salim said the group’s experience in TODs and integrated urban regeneration projects places it in a strong position to complement RUA AlHaram AlMakki’s vision for King Salman Gate.
