Two strategic collaboration agreements have been signed between Brunei Darussalam’s Perbadanan Tabung Amanah Islam Brunei (TAIB) and two Public Investment Fund (PIF) entities, RUA AlHaram AlMakki Company and Rua Al Madinah Holding. Announced on September 29, 2026, in Bandar Seri Begawan, the strategic pact establishes new avenues for real estate investment collaboration between Saudi Arabia and Brunei.

The signing ceremony took place in Brunei and was conducted by Bambang Kajairi, CEO of Rua AlHaram AlMakki, Eng. Ahmed W. Aljuhani, CEO of RUA Al-Madinah, and Yang Mulia Datin Dayang Hajah Hasnah Binti Haji Ibrahim, Permanent Secretary III at the Ministry of Economy, Trade and Industry and Managing Director of TAIB. The event was witnessed by Mr. Saad Abdulaziz AlKroud, Head of the Local Real Estate Investment Division at PIF, Mr. Naif S. Al Hamdan, Head of Portfolio Management – West Coast PIF and Chairman of the Board at Rua AlMadinah, and Yang Berhormat Pengiran Dato Seri Setia Haji Mohammad Tashim bin Pengiran Haji Hassan, Minister of Religious Affairs and Advisor to Perbadanan TAIB.

Under the initial agreement, RUA AlHaram AlMakki and TAIB plan to explore a joint venture investment in King Salman Gate in Makkah. The project covers real estate development spanning residential and hospitality sectors. It carries an indicative Gross Development Value (GDV) of roughly SAR 9.7 billion, dependent on due diligence, official approvals, financing, and binding legal agreements. RUA AlHaram AlMakki acts as master developer of King Salman Gate, guiding the vision while bringing in international capital.

A second agreement unites RUA AlHaram AlMakki, Rua Al Madinah Holding and TAIB to evaluate wider investment and development projects across Makkah, Madinah and Brunei Darussalam. This framework links Gulf developments with Southeast Asian investment while opening routes for reciprocal funding. Rua Al Madinah Holding is managing major urban schemes in Madinah, including its central Rua Al Madinah Project designed to expand visitor capacity in line with Saudi Vision 2030.