‘King Salman Gate’ — a 12m sq. meter mixed-use development — to be built in Makkah

The Grand Mosque in Makkah. Shutterstock
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Updated 15 October 2025
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‘King Salman Gate’ — a 12m sq. meter mixed-use development — to be built in Makkah

RIYADH: Saudi Arabia’s Makkah is set to witness a new major mixed-use destination spanning 12 million sq. meters adjacent to the Grand Mosque.

Announced by Crown Prince Mohammed bin Salman, “King Salman Gate” will be developed by Public Investment Fund-owned firm Rua AlHaram AlMakki Co., according to the Saudi Press Agency.

The project aims to create a qualitative leap in the development of Makkah’s infrastructure, particularly its central area, to establish a new global benchmark for urban development, the press release added.

“The King Salman Gate project is characterized by a strategic location next to the Grand Mosque, and is a multi-use destination that aims primarily to improve the system of services provided, and provide residential, cultural and service facilities surrounding the Grand Mosque,” SPA said.

It will also add a significant capacity to accommodate approximately 900,000 worshippers across its indoor prayer halls and outdoor courtyards.

The project will be connected to public transportation to facilitate access to the Holy Mosque, and aims to preserve the historical and cultural legacy of Makkah by developing and rehabilitating nearly 19,000 sq. meters of cultural and heritage areas.

It will also contribute to the economic diversification goals of Saudi Vision 2030 by creating over 300,000 jobs by 2036.


Closing Bell: Saudi main index closes in red at 10,414 

Updated 17 December 2025
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Closing Bell: Saudi main index closes in red at 10,414 

RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower on Wednesday, shedding 38.85 points, or 0.37 percent, to finish at 10,414.06. 

Total trading turnover on the benchmark index reached SR3.46 billion ($920 million), with 123 stocks advancing and 134 declining. 

The Kingdom’s parallel market Nomu also shed 41.61 points, or 0.18 percent, to close at 23,428.67. 

The MSCI Tadawul Index edged down 0.45 percent to 1,368.36. 

Arabian Drilling Co. was the best-performing stock on the main market, with its share price rising 6.8 percent to SR102.90. 

Naqi Water Co. gained 4.30 percent to SR58.25, while Saudi Ground Services Co. advanced 3.78 percent to SR38.42. 

Tihama Advertising, Public Relations and Marketing Co. saw its share price fall 4.95 percent to SR16.31. 

AlAhli REIT Fund 1 also declined 3.53 percent to SR6.29. 

On the announcements front, United Mining Industries Co., listed on the parallel market, said it has begun commercial production of gypsum board at its plant in Yanbu. 

In a Tadawul statement, the company said the financial impact of the project’s commercial production will be reflected in the first quarter of 2026. 

United Mining Industries Co.’s share price was unchanged, closing at SR42.54.  

Dkhoun National Trading Co. said its shareholders approved the board’s recommendation to distribute interim dividends on a semi-annual or quarterly basis for 2025. 

According to a Tadawul statement, shareholders also approved transferring the balance of the company’s statutory reserve, valued at SR2.43 million, to retained earnings. 

Dkhoun National Trading Co.’s shares saw no trades and closed at SR65.