On the evening of Thursday, the 9th of Ramadan, the «Sharif Ghalib Endowment» signed a memorandum of understanding with Al-Balad Al-Amin Company for Development and Urban Planning—the investment arm of the Holy Capital Municipality —to develop the endowment’s land in Makkah al-Mukarramah known as «Al-Husayniyah,» in a move considered the largest of its kind among endowment projects in the Kingdom.

The memorandum was signed in the presence of and with the blessing of His Excellency the Minister of Municipalities and Housing, Mr. Majid bin Abdullah Al-Hogail, and His Excellency the Secretary of the Holy Capital, Mr. Musa’id bin Abdulaziz Al-Dawood, affirming the project’s importance and its role in supporting sustainable urban development in the Holy Capital.

As announced during the signing ceremony, the project aims to develop the endowment land belonging to the Sharif Ghalib Endowment, covering an area of approximately 7.5 million square meters, in line with the comprehensive development goals for Makkah, and to enhance the efficiency of endowment asset investment in accordance with best development practices.

The project represents a qualitative leap in the development of endowments, as it combines the investment dimension with a developmental mission through modern urban planning that prioritizes sustainability and enhances quality of life, in harmony with the ambitious vision for the development of the Holy City.

This partnership between the Sharif Ghalib Endowment and Al-Balad Al-Amin Company comes within the framework of strengthening cooperation between the endowment sector and development entities, thereby contributing to maximizing returns and achieving long-term economic and social impact, and embodies Makkah’s commitment to high-quality projects that reflect its religious and cultural significance.