KUALA LUMPUR: The Malaysian franchise of McDonald’s Corp. said it was “disappointed” with calls on social media to boycott the fast food restaurant chain in apparent retaliation to the United State’s recognition of Jerusalem as the capital of Israel.
Social media users in the Muslim-majority country called on boycotting various US companies following US President Donald Trump’s decision to relocate the US embassy in Israel to Jerusalem, a city important to both Israelis and Muslims.
One user of Twitter Inc’s microblogging platform, TheUsopIbrahim, stated without citing sources that US-headquartered McDonald’s “channelled funds to Israel.” The post has been retweeted 320 times and “liked” 138 times. TheUsopIbrahim did not respond to a Reuters request for comment.
McDonald’s Malaysia, in a statement on Facebook Inc’s social media platform on Saturday, said the chain does not support or engage in any political or religious conflicts.
“The claim that McDonald’s channels funds to Israel is a false accusation, a lie, fake and slanderous. The charges made by an irresponsible party in (Facebook’s) Whatsapp messages are also unsubstantiated,” said Azmir Jaafar, managing director and operating partner of franchisee Gerbang Alaf Restaurants Sdn Bhd, without specifying any social media posts.
Azmir also said Gerbang’s largest shareholder is Muslim. The Malaysian and Singaporean franchise rights were bought by Saudi Arabia’s Lionhorn Pte Ltd. a year ago, as part the US parent’s strategy of moving away from direct ownership in Asia.
The Malaysian franchise also faced boycott calls in 2014 when social media posts alleged, without citing sources, that the restaurant chain was helping fund Israeli attacks on Gaza. The company denied the allegation.
On Friday, Malaysian protesters condemned the US action, burning an effigy of Trump in front of the American embassy.
McDonald’s Malaysia refutes Israel ties after boycott calls
McDonald’s Malaysia refutes Israel ties after boycott calls
Global investors commit more than $3bn to King Salman Park as Saudi giga-project secures new deals
RIYADH: The King Salman Park Foundation has secured more than $3.8 billion in new private-sector commitments at the MIPIM 2026 real estate conference, including a landmark $3 billion fund backed by international investors to develop a major mixed-use district in the heart of Riyadh.
According to a press release, the announcements bring total committed investment in the 17.2 sq. kilometers urban regeneration project to over $5.3 billion across five major packages.
Launched in 2019 under Saudi Vision 2030, the development is designed to be the world’s largest city park and aims to boost green space, improve quality of life, and feature over 1 million trees and extensive leisure facilities.
A $3 billion metro-connected district
The largest of the two packages, designated Package 5, will see a consortium led by Kolaghassi Development Co. deliver a residential-led district with a total built-up area exceeding 1 million sq. meters.
It will provide approximately 3,700 residential units, a K–12 school, around 300 hospitality keys and more than 100,000 sq m of Grade A office space alongside a wide variety of retail and dining offerings.
The development is supported by a Saudi-domiciled, Capital Market Authority-regulated fund managed by Mulkia Investment Co. that has attracted leading investors from the Kingdom and across the world.
Kolaghassi Development Co. will lead the project alongside Al Othaim Investment, one of the Kingdom’s real estate players, and RXR, a New York-headquartered real estate investor and operator.
“Securing investment of this scale, supported by international capital and expertise, is an important milestone for King Salman Park,” said George Tanasijevich, CEO of King Salman Park Foundation.
$850 million cultural district package
In a separate announcement, the Foundation confirmed the award of Package 4 to a consortium led by Retal Urban Development Co., with support from a fund managed by SAB Invest.
The project has a total value exceeding $850 million and will host more than 600 residential units, over 140 hotel keys, and almost 50,000 sq m of Grade A office space, alongside curated retail and food and beverage experiences.
“This opportunity reflects the maturity of Saudi Arabia’s real estate investment landscape and our confidence in culture-led, mixed-use urban destinations as a driver of sustainable returns,” said Abdullah Al-Braikan, CEO and founder of Retal Urban Development Co.
Ali Al-Mansour, CEO of SAB Invest, said the fund structure brings together “long-term capital, experienced development partners, and a shared commitment to place-making excellence” while contributing to Riyadh’s cultural vibrancy and the Kingdom’s quality-of-life ambitions under Vision 2030.
