Riyadh – Mubasher: Makkah Construction and Development Company (MCDC) has announced a significant procedural milestone regarding the development of the Western and Southern Hindawiyyah districts in Makkah.

Following the initial project award earlier in June 2026, the company formally entered into framework agreements with the Royal Commission for Makkah City and Holy Sites.

The development involves a consortium of major real estate entities and establishes the governance and operational principles required to move the large-scale urban redevelopment projects into their subsequent execution phases.

The announcement, released via the Saudi Exchange (Tadawul), serves as a supplementary update to the company’s previous disclosure on 1 June 2026. MCDC participated in the signing ceremony on 24 June 2026 as part of framework agreements alongside two other prominent partners, namely Umm Al Qura for Development and Construction and Al Rajhi Real Estate Union Company.

These agreements are designed to regulate the general framework of cooperation between the private sector participants and the Royal Commission for Makkah City and Holy Sites. By defining the primary principles that will govern the upcoming stages of work, the agreements ensure that all parties are aligned with the strategic vision for the redevelopment of the Western and Southern Hindawiyyah districts.

MCDC clarified that the signing of these framework agreements is a critical regulatory and contractual prerequisite. These steps are necessary to finalize the procedures related to the two award notices previously received by the company.

Meanwhile, the involvement of the Royal Commission highlights the project’s importance within the broader context of Makkah’s urban planning and the Kingdom’s goals to enhance the capacity and quality of the city’s districts.

Regarding the financial implications of the project, MCDC stated that it is currently not possible to determine the exact financial impact of these developments on the company’s balance sheet.

The complexity of the redevelopment phases and the long-term nature of the framework agreements mean that fiscal outcomes will be clarified as the project progresses. The company confirmed there have been no delays relative to the previously announced timeline and noted that there are no immediate changes to associated costs at this preliminary stage.

MCDC noted it has committed to maintaining transparency with its shareholders and the broader investment community. The management indicated that any further material developments regarding the Hindawiyyah district projects, including the finalization of detailed contracts or the realization of financial milestones, will be disclosed in a timely manner according to the rules of the Capital Market Authority.

The project represents a significant addition to MCDC’s portfolio, as the company continues to focus on the development and construction of areas surrounding the Grand Mosque and the wider Makkah region.