Saudi Arabia Opens Makkah Property Market to Nigerians Under King Salman Gate Project
Saudi Arabia has opened its real estate sector in Makkah to Nigerian investors following the launch of the King Salman Gate project, a landmark urban development initiative designed to transform the Holy City and attract global investment.
Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, who also serves as Prime Minister and Chairman of RUA Al Haram Al Makki Company, announced the project as part of efforts to expand access, improve infrastructure, and enhance pilgrims’ experience in the vicinity of the Grand Mosque.
According to a statement issued by the Saudi authorities, the King Salman Gate project will cover up to 12 million square metres of gross floor area adjacent to Al-Masjid Al-Haram. It aims to establish Makkah as a global model for modern urban planning while preserving its spiritual and historical character.
“The project marks a major milestone in the development of Makkah and its central area, establishing it as a global benchmark in modern city planning,” the statement read.
The development will feature residential, commercial, hospitality, and cultural facilities capable of accommodating nearly 900,000 worshippers across indoor and outdoor prayer spaces. It will also include enhanced transport links to ensure smooth access to the Grand Mosque.
“Strategically located next to AlMasjid AlHaram, the integrated mixed-use destination will prioritise further elevating the levels of currently provided services while offering residential, hospitality, commercial and cultural experiences,” the statement added.
The project also includes restoration and development of about 19,000 square metres of heritage sites, preserving Makkah’s cultural legacy for future generations.
Saudi authorities said the initiative will contribute to the Kingdom’s Vision 2030 economic diversification goals by creating more than 300,000 jobs by 2036.
RUA Al Haram Al Makki Company, a subsidiary of the Public Investment Fund (PIF), is spearheading the development. The firm said it aims to promote sustainable urban growth and resource management while maintaining Makkah’s architectural identity.
“RUA AlHaram AlMakki is committed to global best practices in real estate development and ensuring exceptional experiences,” the company stated, adding that its work would “create a positive impact on residents, pilgrims and visitors while preserving Makkah’s cultural fabric.”
The opening of Makkah’s property market to foreign investors, including Nigerians, marks a significant shift in Saudi Arabia’s economic policy, offering fresh opportunities for investment and development in the Holy City.
