Bassam Bawazir

Saturday, July 11, 2026 17:35 | 2-minute read

Turkish real estate investment company Emlak Konut is implementing a new residential project within the Haram boundaries in Mecca, comprising 1,014 villas on an area of 255,000 square meters, with investments estimated at about $400 million, according to what Yasir Yilmaz, the company's CEO, told Al-Eqtisadiah.

The project is part of the integrated plan for the "Makkah Gate" project, which has a total area of 5 million square meters, and is expected to provide about 8,300 housing units of various types, including villas, townhouses, and apartments, accommodating more than 38,000 people.

In addition to the Turkish company's project, Makkah Gate includes the projects of Rehab Makkah Gate, Al-Nada, Al-Bayt, Jeera, Areem, and Jawharat Makkah.

Sun, 05 2026

Yilmaz said that the company has started off-plan sales, with construction work scheduled to begin in September 2026, and aims to deliver the project in January 2030.

He added that villa prices start from 613,000 Saudi riyals after applying housing support.

The project is named "Hayat Makkah", and is being implemented by Emlak Konut in partnership with NHC, as the Turkish company's first project in the Saudi market.

The project is located at the western gate of Mecca within the Haram boundaries and includes 1,014 villas with modern designs, along with facilities including schools, health centers, mosques, and commercial areas, in addition to its connection to the main road network and its proximity to the Grand Mosque and the Haramain High-Speed Railway station.

Sat, 04 2026

Yilmaz said that the project aims to provide housing options that align with the urban development targets of the Kingdom and Saudi Vision 2030.

Emlak Konut is one of the largest real estate development and investment companies in Turkey, and is affiliated with the Turkish Ministry of Environment, Urban Planning and Climate Change and the Turkish Collective Housing Institution (TOKİ), with 51% of its shares traded on the market.

According to the company, its assets are worth about $7.5 billion, while net asset value reaches $4.3 billion. It has completed about 260,000 real estate units so far, and aims to increase the number to 400,000 units by 2030.

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