The memorandum was signed in the presence and blessing of His Excellency the Minister of Municipalities and Housing, Mr. Majid bin Abdullah Al-Haqeel, and His Excellency the Secretary of the Holy Capital, Mr. Musaed bin Abdulaziz Al-Dawood, emphasizing the importance of the project and its role in supporting the process of sustainable urban development in the Holy Capital.
According to what was announced during the signing ceremony, the project aims to develop the Waqf land belonging to the Waqf of Sharif Ghalib, which is about 7.5 million square meters, in line with the objectives of the comprehensive development of Makkah, and enhances the efficiency of investing endowment assets according to the best development practices.
The project represents a qualitative leap in the development of endowments, combining the investment dimension with the developmental mission, through modern urban planning that takes into account sustainability and improves the quality of life, in line with the ambitious vision for the development of the Holy Capital.
The project represents a qualitative leap in the development of endowments. This partnership between Sharif Ghalib Waqf and Al Balad Al Amin comes within the framework of enhancing cooperation between the endowment sector and development entities, which contributes to maximizing returns and achieving a long-term economic and social impact, and reflects Makkah's orientation towards quality projects that match its religious and cultural status.
