The the Holy Capital Secretariat has announced two new investment opportunities for the development of two of the major grant projects in Makkah, namely the Crown Prince Project 9, Part(B) and the Martyrs of the Nation Project. This is part of the Holy Capital Municipality’s plans to develop residential projects, and to provide various services to them by involving the private sector and leveraging its services in the development process, thereby enabling private sector entities to contribute to the economic development of the Holy Capital in exchange for investing in a portion of the project’s total area. The Secretariat has applied this approach in several projects in Makkah.
The Secretariat clarified that these targeted developments are among the largest residential developments in the Holy Capital, located in southern Makkah. The Crown Prince Development, Section 9 (Part B), covers an area of (6,077,494,28)m² and contains (4,649) residential lots, while the total area of the Martyrs of the Nation development is (1,358,762,22) m² and contains (738) residential lots.
The Secretariat also presented the private sector with an investment opportunity to carry out all services, including (rock cutting – paving – asphalting – sidewalks – lighting – stormwater and flood drainage network works – infrastructure services such as the extension of sewage, water, and electricity networks), in accordance with the specified conditions and to enable citizens to benefit from them as required.
Requirements and Required Documents
The Secretariat urges those wishing to apply for these tenders to complete all required conditions and documents, including a copy of the commercial registration, a certificate of payment of zakat and income tax, and the completion of the terms and specifications booklet, a certificate from the General Organization for Social Insurance, and to sign and stamp all pages, place them in a sealed envelope clearly marked with the company’s details, and submit a bank guarantee in the amount of 300,000 riyals valid for 90 days from the date of opening the envelopes, in addition to a letter from the investor requesting to purchase and participate in the bidding process. Bids and documents must be submitted at the main building of the Holy Capital Municipality in the Al-Maabada neighborhood on the fifth floor, specifically at the Investment Opportunities Unit of the General Directorate of Investments. Please note that the deadline for purchasing the terms and specifications booklets for these projects is July 29, 2024, for both tenders, and the cost of the booklet for each project is 25,000 riyals.
View the draft terms and specifications booklet
The Secretariat noted that the draft terms and specifications booklet can be viewed on the Secretariat’s website and through the Saudi Cities Investment Portal (Fursat), or by calling the Secretariat at (012) 5739555 extensions 2695–2786, or by calling the Investment Opportunities Unit at (012) 5740206, or by contacting the Investor Services Center / Marketing Department at (0125767671), or via email at ([email protected]).
It is worth noting that the Holy Capital Secretariat is a pioneer in implementing this initiative across the Kingdom, which has proven successful through the launch of numerous projects that assessed the readiness of national companies and institutions for this step, as the volume of investments in the Holy Capital exceeds hundreds of billions, and the investment projects have encompassed various activities such as industrial and entertainment cities, the establishment of an automotive city, and other projects that will provide numerous major investment opportunities for companies in the coming years, God willing, Meanwhile, the Municipality will work to study and propose several development grant schemes to interested real estate companies.
