Alandalus Property Co. Commences Construction of SAR 831 Million Commercial Center in Mecca

Alandalus Property Co. announced on Sunday the commencement of construction for a new commercial center in the Makkah Al-Mukarramah region, with a total estimated project cost of SAR 831 million, including the value of the land.

In a statement on Tadawul, the company disclosed that Masat Property Co., which owns 25% of Alandalus Property Co.’s capital, has appointed Hamat Holding Co. (a related party) as the project developer.

The optimal final engineering design was selected from a range of designs prepared by top engineering firms in the Kingdom. According to the design, the project will feature an estimated rental area of 50,650 square meters and include 350 rental units. These units will encompass major showrooms, retail outlets, a hypermarket, an entertainment area, and both indoor and outdoor café and restaurant spaces. The development will span two floors and feature a multi-level parking facility with approximately 1,800 spaces.

The necessary building permit has been obtained from the Municipality, and construction and structural work has begun. Alandalus Property Co. will disclose any further material developments related to this project as they occur.