Bandar Seri Begawan, Brunei Darussalam, September 29, 2026 – RUA AlHaram AlMakki Company (RUA AlHaram AlMakki) and Rua Al Madinah Holding (Rua Al Madinah), both Public Investment Fund (PIF) companies, have signed two strategic collaboration agreements with Perbadanan Tabung Amanah Islam Brunei (TAIB), creating new opportunities for investment collaboration between Saudi Arabia and Brunei Darussalam around developments.
The collaboration agreement was signed in Brunei Darussalam by Bambang Kajairi, CEO of Rua AlHaram AlMakki, and Eng. Ahmed W. Aljuhani, CEO of RUA Al-Madinah and Yang Mulia Datin Dayang Hajah Hasnah Binti Haji Ibrahim, Permanent Secretary III, Ministry of Economy, Trade and Industry and Managing Director of TAIB, and witnessed by Mr. Saad Abdulaziz AlKroud, Head of Local Real Estate Investment Division of PIF, Mr. Naif S. Al Hamdan, Head of Portfolio Management – West Coast PIF and Chairman of the Board in Rua AlMadinah, and Yang Berhormat Pengiran Dato Seri Setia Haji Mohammad Tashim bin Pengiran Haji Hassan, Minister of Religious Affairs and Advisor to Perbadanan TAIB.
The collaboration agreements bring together institutions from Saudi Arabia and Brunei. They also establish new avenues for investment and development collaboration in both cities. The collaboration reflects a shared interest in investing in developments that can enhance the experience of pilgrims and visitors and contribute to the long-term development of both cities.
Under the first collaboration agreement, RUA AlHaram AlMakki and TAIB will explore a joint venture investment within King Salman Gate in Makkah. The agreement covers the development of real estate within the destination, including hospitality and residential uses, with an indicative Gross Development Value (GDV) of approximately SAR 9.7 billion, subject to due diligence, approvals, financing arrangements, and definitive agreements.
As a PIF company and master developer of King Salman Gate, RUA AlHaram AlMakki is creating pathways for international institutions to invest, while retaining stewardship of the destination’s vision and delivery as part of the Kingdom’s ongoing development efforts in this area. The agreement brings TAIB into King Salman Gate as a strategic international partner, alongside RUA AlHaram AlMakki’s growing relationships with institutions across the Muslim world.
Under a separate collaboration agreement, RUA AlHaram AlMakki, Rua Al Madinah Holding and TAIB will pursue collaboration around investment and development opportunities across Makkah, Madinah and Brunei Darussalam. The agreement connects investment and development opportunities in Makkah and Madinah with investment and expertise from Brunei, while opening avenues for reciprocal investment. Rua Al Madinah Holding is advancing major real estate development and investment initiatives in Madinah, as part of the Kingdom’s ongoing development efforts in the city, with a focus on modern urban planning, hospitality, commercial development and infrastructure. Its flagship Rua Al Madinah Project is planned as an integrated hospitality and commercial destination that will contribute to enhancing Madinah’s capacity and visitor experience in support of Saudi Vision 2030.
Together, the agreements deepen investment ties between Saudi Arabia and Brunei Darussalam around the future of Makkah and Madinah. As PIF companies, RUA AlHaram AlMakki and Rua Al Madinah Holding are creating opportunities for leading international institutions to contribute to the development of both cities, enhance the experience of pilgrims and visitors, and support the objectives of Saudi Vision 2030.