Al-Mqr Development Company

Al-Mqr Development Company is the investment arm of the Municipality of al-Madinah al-Munawwarah Province, established by Royal Decree The company's capital amounts to SAR1.98 billion, divided into 198 million shares, with a nominal value of SAR10 per share. All shares are in-kind and owned by the Municipality of al-Madinah al-Munawwarah.

Al-Mqr Development Company aims to leverage the competitive advantages of al-Madinah al-Munawwarah, specifically its prophetic heritage, historical landmarks, and geographic diversity. The company seeks to make these attributes sources of inspiration for projects it offers as a portfolio of opportunities for both local and foreign investors. This is achieved through market and behavioral studies of al-Madinah al-Munawwarah community and its needs, making it an attractive destination. Al-Mqr Development Company aims to establish a benchmark for urban development in the region, creating a growth market that befits the esteemed status of al-Madinah al-Munawwarah.

The strategic pillars of al-Mqr Development Company include urban development and investment attraction, achieving elements of quality of life in residential, educational, tourism, logistics, and entertainment communities, and enhancing the visitor and pilgrim experience by providing destinations that support the region's economy. The company also focuses on partnerships through flexible investment models and the privatization of municipal investments.

The targeted sectors for al-Mqr Development Company include housing, entertainment, education, health, and logistics.

Al-Mqr Development Company has executed several projects, including the development and rehabilitation of the as-Saih neighborhood. This involves the construction of hotels, residential units, and commercial complexes. Additionally, the company established the Saudi Investment Company, specializing in recycling, and Bee'ah, a company focused on waste management, with the goal of enhancing the quality of municipal services in the region. The privatization of waste management has resulted in increased spending efficiency and saved the municipality SAR200 million in service costs.

The company also invested in the Food and Environment Laboratory to reduce the financial burden on the municipality and enhance technical performance. In terms of individual means of transportation, the company introduced an innovative technology providing 270 vehicles, distributed across sixty-five smart stations, along with an app available to access these services. The company initiated a project in partnership with a specialized company in the commercial broiler breeder production and poultry products sector. Additionally, a study was conducted for the development of al-Aliya Mall, with an investment to build a hotel, contributing to increased annual revenue. The development of al-Khuzama Smart Plan, spanning 229,000 m, focuses on unifying multi-service infrastructure, creating a mini-city and a museum that embodies the history and unique identity of al-Madinah al-Munawwarah through the integration of the latest technologies. Furthermore, a pioneering industrial and commercial city was established, specializing in vehicle maintenance and services using the latest technical, technological, and informational methods. In addition, a comprehensive central market was established, specializing in vegetables, fruits, meat, poultry, and fish, covering an area of 172,000 m.

The projects of al-Mqr Development Company also include the establishment of a museum equipped with virtual reality equipment and technologies, and the "Heart of Uhud" project, which is a medical rehabilitation resort staffed by specialized professionals. Additionally, the King Abdulaziz Square project features green spaces and walkways, including a hotel, office spaces, retail shops, and a multipurpose hall. Al-Ghurrah project is a trade and business center that includes administrative complexes, an exhibition and conference hall, and a residential city. The Mashraf project comprises residential units (villas, apartments, townhouses), and the Emdad project.